Tim Hortons and CIBC are coming out with a co-branded credit card to reward customers with loyalty points to be used for coffee, donuts and other purchases at the popular chain.
The new CIBC Visa credit card will launch in May, allowing cardholders to collect Tim Cash rewards for every purchase made on the card.
The Tim Cash, once accumulated at a rate of 1%, can be instantly redeemed at participating Tim Hortons locations to any product available, including mugs, canned coffee and food items.
A national marketing campaign will launch ahead of the card to promote its availability.
Tim Hortons also announced on Thursday it would be pulling the Cold Stone Creamery brand from its Canadian restaurants, replacing the space with new express beverage lines. The partnership between the companies began in 2009 and will continue in Tim Hortons’ U.S. locations.