CIBC announced a new co-branded VISA card
to coincide with the launch of Hudson’s Bay Company’s new loyalty rewards
program, HBC Rewards.
The new credit card – the CIBC HBC Rewards VISA card – will expand and
enhance CIBC’s popular existing Club Z VISA card by offering cardholders the
opportunity to collect HBC Rewards points while shopping at over 20 million
Effective May 2, 2001, the CIBC Club Z VISA card will automatically act
as the CIBC HBC Rewards VISA card which will offer cardholders all of the
existing benefits of the Zellers’ Club Z loyalty program as well as the
expanded benefits of the new HBC Rewards Program. In the coming months, new
cards featuring the CIBC HBC Rewards VISA name will be issued to new
cardholders, and as existing CIBC Club Z VISA cards naturally expire.
Earning HBC Rewards points is easy. The new CIBC HBC Rewards VISA will
reward cardholders with fifteen points for every dollar spent on the card at
more than 20 million merchants worldwide.
As an exclusive benefit, CIBC Club Z/HBC Rewards VISA cardholders will
automatically receive HBC Rewards Gold status. This means that cardholders
will earn double the points for their purchases at any of the Hudson’s Bay
Company family of stores – the Bay, Zellers, Home Outfitters and hbc.com – for
a total of 50 base points plus 50 bonus points. HBC Rewards Gold members will
also receive up to 20 per cent off the regular number of HBC Rewards points
required for reward redemption in the catalogue.
“Today’s announcement is exciting and great news for CIBC Club Z VISA
cardholders,” said Ernie Johannson, vice president of marketing and business
development, CIBC card products division. “This new VISA card program enables
our customers to earn more HBC Rewards points faster, and adds more value to
their shopping experience at all of the HBC family of stores.”
“The CIBC HBC Rewards VISA card is a critical component to the new HBC
Rewards program,” added George Heller, president and CEO, Hudson’s Bay
Company. “This enhanced relationship between HBC, Canada’s largest department
store retailer, and CIBC, the Canadian leader in the co-branded credit card
industry, builds on our past success to extend the reach of Canada’s biggest
The Zellers Club Z program was launched in 1986 and the CIBC Club Z VISA
card was introduced in 1995 by CIBC. CIBC currently has over 500,000 CIBC Club
Z VISA cardholders.
About Hudson’s Bay Company
Hudson’s Bay Company, established in 1670, is Canada’s largest department
store retailer and oldest corporation. The Company provides Canadians with the
widest selection of goods and services available through numerous retail
channels including more than 500 stores led by the Bay and Zellers chains.
Hudson’s Bay Company is Canada’s fifth largest employer with 70,000 associates
and has operations in every province in Canada.
CIBC is a leading North American financial institution offering more than
eight million personal banking and business customers a full range of products
and services through its comprehensive electronic banking network, branches
and offices across Canada, in the United States and around the world. CIBC is
also Canada’s number one credit card issuer, offering the most successful co-
branded and loyalty concept cards in the country. To find other news releases
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