While I’m personally not a fan of credit, this partnership is a good move. A new kind of Tim Card is en route.
Tim Hortons and CIBC announced that they’ll be coming out with a “Co-Branded Loyalty Rewards Visa Credit Card.” This is basically a credit card that will offer “instant Tim Hortons loyalty rewards.” Yes, another points-based credit card, but for those addicted it makes a great deal of sense. Cineplex did this with Scotiabank for their SCENE rewards program and it has proven to be successful.
The more you spend on your CIBC/Tim Hortons card the more Tim Cash rewards points you receive, which can instantly be redeemed using the same card at any Timmies location for anything on their menu. Curious about the value for your dollar? It’s 1%. So lets say you spend $100 and change it on the card, you’ll get $1 in “Tim Cash.” This will certainly help keep your addiction going.
Look for this to hit Canadian soil sometime in May 2014.
“At Tim Hortons we’re fortunate to have very loyal guests, many of whom visit us every day. We feel that an innovative card such as this not only provides our guests added convenience, but is a great loyalty rewards solution offering instant redemption for their favourite Tim Hortons menu items,” explains David Clanachan, COO, Tim Hortons Inc. “This new card complements our strategy to actively pursue further technological innovation that help directly connect our guests with our brand.”