[PROMOTION] 30,000 CIBC Aventura Points (expired on December 31, 2013)

There is a 30,000 Aventura bonus points sign up for the CIBC Aventura Visa Infinite Card that ends on December 31, 2013. If you are still thinking about getting this credit card, this is your last chance. Check out our previously written analysis on this credit card to see if it works for you.

Here is a quick summary of the key highlights:

• $120 annual fee
• Earn 30,000 bonus points on sign up (earn 15,000 points after your first purchase, 10,000 points if the first purchase made is posted to your account by January 31, 2014 and the last 5,000 points after two or more purchases posted to your account by January 31, 2014)
• Earn 3 points at select CIBC bonus rewards Establishments
• Earn 2 points on purchases made with the CIBC Aventura Rewards Centre
• Earn 1.5 point for every $1 spent on gas, groceries and drug stores
• Earn 1 point for every $1 on all other purchases
• Redeem for short-haul flights at 10,000 points and long-haul flights at 25,000

The sign up bonus will more than cover the $120 annual fee. However, I would say that it makes more sense if you can use the points within the first year of having this credit card. Once the credit card is up for renewal, you have to pay another $120 annual fee. As a result, I wouldn’t be too happy to retain this credit card for two years because that would cost me $240 and that almost negates the 30,000 sign up bonus. The earning ratios are not high enough to justify spending another $120 annual fee. I would prefer to get the Capital One Aspire Travel instead.

If you do not qualify for the Infinite card, you can also apply for the Gold version, which has very similar benefits, but a lower requirement to qualify for the card.

Recommendation to CIBC: When this promotion expires and it drops back to 15,000 sign up bonus, I strongly recommend waiving the first year annual fee. Ideally, I would prefer that CIBC keep the 30,000 sign up bonus, waive the annual fee, and increase the minimum spend requirement to something like $500 or $1,000 in the first three or six months of having this credit card to qualify for the sign up bonus.

The reason I like waiving the first year annual fee is that it gives more incentive to retain the credit card for a second year. Furthermore, if you require people to have higher minimum spend requirement before qualifying for the sign up bonus, then it gets people so used to using the credit card that they have a higher chance to grow to like it.