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CIBC Tim Hortons Double Double Visa Card Review
4 Feb 2019

CIBC Tim Hortons Double Double Visa Card | Credit Card Review

Over the years, Tim Hortons has become nearly as iconic as the maple leaf or hockey in terms of representing Canada as a whole; almost 8 of 10 cups of coffee purchased in Canada each day come from one of their many restaurants. If you’re a frequent customer yourself, you’ll love the CIBC Tim Hortons Double Double Visa Card.

Indulge your Tim Horton’s habit with a credit card that earns you rewards toward your favourite drinks and snacks.

 

General Information

You Are Interested If You often visit Tim Hortons restaurants and want a credit card that gets you freebies and points towards your coffee, food and treat purchases.
Brief Description The CIBC Tim Hortons Double Double Visa Card is a retailer-specific rewards card that also gets its holder free food and special perks.
Main Requirements This is an exceptionally forgiving card that can be gotten by just about anyone, as long as your income isn’t incredibly small and your credit is passable.

Card Details

Network Visa.
Provider CIBC.
Card Type This is a specialty rewards card themed around Tim Hortons restaurants.

Fees and Interest

Purchase Interest Rate You’ll be paying 19.99% in interest yearly on any outstanding charges that appear on your normal statements.
Cash Advance If it’s cash you need instead, expect to pay 22.99% in yearly interest to get it.
Balance Transfer Any balances you’ve had moved to this card from another will also cost you 22.99% in interest each year.

Eligibility

Income Requirements You can get this card even if you only have very minimal income – in fact, one of the primary audiences to whom it is marketed is students.
Household Income Requirements The individual income requirements for this card are so lenient that household income is not a factor in the application process.
Annual Fee This card is completely free.

Rewards

Welcome Bonus You can earn $20 of Tim Cash when you charge your first $200 of purchases to this card.
How To Earn Points No matter what you charge to this card, you’ll earn 1% of every purchase back in Tim Cash to use at Tim Hortons locations.
Benefits This card entitles you to a free coffee and Timbits on your birthday, a free predetermined Tim Hortons menu item every weekend, and the chance to try early versions of Tim Hortons products before they hit the market at large. The card itself also doubles as a TimCard that you can use to pay for your purchases at the restaurant right at the counter using the Tim Cash you’ve already earned.

About CIBC Tim Hortons Double Double Visa Card

Main Features

The CIBC Tim Hortons Double Double Visa Card works much like a cash back card, but instead of giving you dollars, it will give you a stash of Tim Cash to spend at Tim Hortons restaurants. If you get this card, you’ll receive 1% of the total amount of each purchase you make back in Tim Cash. You can then use these funds on anything that can be purchased in Tim Hortons stores. While plenty of cards offer reward points for purchases, this one allows you to use those points right away just by making use of the card’s dual functions. You see, the cool LED interface on the front of it isn’t just for show. The small blue and red buttons buttons indicate whether the card is currently being used a credit card or a TimCard, and if you choose the latter, you can access your Tim Cash balance right away no matter how much or how little you have in there. That’s where all your rewards are stored, and they are loaded to that account immediately at the point of sale whenever you buy something with your card.

This is an excellent feature for small-time spenders who would otherwise have to wait a long time to cash in on any rewards; you can buy something as soon as you have enough in rewards to get it, and when most of the prospective items cost less than $5, that’s going to happen quite often. Even if your budget is tiny (for the sake of illustration, we’ll go with $300 a month) you can probably still get enough Tim Cash to buy something for yourself every month (in this case, you’d get $3 to spend, which will cover many of your potential purchases). This makes it great for young people in particular, since they are usually new to the idea of credit rewards and are often those with the least means to reach high spending numbers. Getting a coffee for free every month feels a lot better from that perspective than waiting all year to get a measly $36 credit. CIBC does advertise that they often give this card to students, too, so they are aware of how good a fit it is for the young adult lifestyle. However, given the popularity of Tim Hortons’ products that we discussed above, people of all ages can enjoy it just as much, especially if they like to have an excuse to make small indulgent purchases like this.

The CIBC Tim Hortons Double Double Visa Card also does benefits differently from the standard credit card arrangement. You would usually get something like a little bit of accident insurance or something like that with a card like this – something that’s nice to have, but that many people will never use. This one takes a more direct approach and offers benefits that anyone can take advantage of and that bring clear value to their everyday lives. The most substantial of these extras is the weekly free offers granted exclusively to cardholders. Every month you’ll receive a digital coupon for a free Tim Hortons menu item (it will always be a specific item that was determined in advance) that you can only redeem on the weekends but that can be reused each week for that month. While it would obviously be even nicer to be able to use this perk during the week when you’re more likely to be out and about, it’s understandable that Tim Hortons would want to restrict these freebies to times when they’re less busy and the change really isn’t too inconvenient for customers. Instead of picking up your treat on the way to work, you can instead stop in on the way back from your shopping trip or errand run; either way, you still get a little refreshment at no cost to you.

That freebie program is the most visible and exciting part of the benefits you get, but on top of that, you’ll also get a free coffee and Timbits on your birthday – a fun little gesture that can help the day feel extra special – and you’ll even get the chance to be the first to try new products that Tim Hortons is considering bringing to market. That last perk won’t necessarily be something you’ll get to use very much (there has to be something nearly finished coming down the pipeline for you to try it, and product development isn’t always that far along), but when you do, it could be a lot of fun to try things that no one else has access to yet. By providing your feedback on these items, you can also help to shape the future of the Tim Hortons franchise, something which some big fans of the restaurant will find very appealing.

Conclusions

The CIBC Tim Hortons Double Double Visa Card is definitely a niche credit card, but it has a broader appeal than most cards like that can claim. In the hands of most Canadians, Tim Cash might as well be regular cash that comes without the potential guilt of using it on a non-necessity item. The 1% reward rate isn’t bad, and the benefits, while extremely unconventional, are also very tangible and appealing. Anyone who is trying to cut down on sweets or their coffee habit might not be as suited to this card, but for most Canadians, this is a fun option that still has a strong element of practicality to it.

About CIBC

CIBC has now been around for over 150 years, but thye continue to be a favourite with Canadians everywhere. Some of their stated goals for the client-facing side of their operations are to build closer relationships with customers and make it easier for people to handle their financial affairs, which makes them a great choice for people who want to keep their financial life simple. If you still have any issues with any of their products, you can call them for help at any time on their 24/7 customer care line.

What We Think

It might sound strange, but we honestly think that the CIBC Tim Hortons Double Double Visa Card is an underrated gem in the Canadian credit card market. Aside from cash, there are few rewards more universally appealing than coffee and donuts, and as Tim Horton’s menu continues to evolve beyond those staples, this card will only become more attractive. We’d recommend it to anyone shopping within the basic-level credit cards, especially for those like high school or university students who are most likely to appreciate the extra snack funds.