CIBC Petro Points MasterCard

The CIBC Petro Points MasterCard is a no annual fee rewards credit card that lets you save 2 cents off every litre of fuel at participating Petro-Canada stations across Canada.  Card holders earn Petro Points on virtually all purchases, wherever you shop.

You can also receive 15,000 bonus Petro Points when you use your CIBC Petro Points MasterCard for the first time.

Earn Petro Points on virtually every purchase, everywhere MasterCard is accepted. Plus, you have the potential to save even more on fuel at Petro-Canada.

Combine the CIBC Petro Points MasterCard Card with a 5 cent per litre Fuel Savings Reward Card to save a total of 7 cents per litre at the pump.

Earning Rewards with the CIBC Petro Points MasterCard:

  • 10 points per dollar spent on every card purchase made outside of Petro-Canada – from restaurant meals to monthly bill payments, travel and more.
  • 15 points per dollar spent at grocery and pharmacy retailers with the Points Multiplier feature.  For example, whether it’s milk or a lawn chair, if you can buy it at a grocery store you will earn 15 Petro Points for every dollar spent.
  • 50% more Petro Points at Petro-Canada.  Use your CIBC Petro Points MasterCard on eligible purchases at Petro-Canada and collect an additional 50% more Petro Points.
  • 5,000 bonus Petro Points every month when you spend more than $1,000 on your card.

Petro Points add up quickly

The CIBC Petro Points MasterCard is the quickest way to earn Petro Points for instant fuel savings and rewards.

  • Spend $800 on your card outside Petro-Canada – 8,000 points
  • Spend $250 on your card at grocery stores and pharmacies – 3,750 points
  • Buy 30 litres of SuperClean fuel per week at Petro-Canada – 1,800 points
  • Spend $10/week on items like coffee, lottery or car washes at Petro-Canada – 1,200 points
  • Monthly CIBC Petro Points Bonus – 5,000 points
  • Total for the month  – 19,750 points

Additional card benefits

The value of your card goes far beyond earning Petro Points and saving at the pump.  You will also receive the following benefits:

  • Purchase Security & Extended Warranty Insurance
  • Free personalized CIBC Convenience Cheques
  • Guaranteed hotel reservations
  • Cash advances of up to $1,000 a day
  • Emergency card replacement
  • Car rental discounts up to 25% at participating locations
  • Worldwide MasterCard acceptance

Final Thoughts

Before the CIBC Petro Points MasterCard was introduced, I thought the Petro Points gas rewards program was inferior compared to Esso Extra points.

Now that you can use the CIBC Petro Points MasterCard to earn bonus points on grocery and pharmacy purchases, as well as 5,000 monthly bonus points for spending $1,000 per month, Petro Points looks like a pretty decent option.

Still, there are much better gas rewards cards available in Canada.  For a basic no annual fee credit card, I would check out the PC MasterCard or the MBNA Smart Cash MasterCard.

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