CIBC Debuts Mastercard That Adapts Rewards to Spender Behavior

Canadian bank CIBC has teamed with Mastercard on a new credit card offering.

The CIBC Adapta Mastercard, announced Thursday (May 1), is the first credit card in Canada to automatically determine a user’s top monthly spending categories based on where they spend the most, while also rewarding 50% more points on those categories.

According to a Mastercard news release, the card is also the first in Canada to include the company’s Touch Card design, an accessible feature that lets cardholders — including those with visual impairments — easily identify their credit card.

“Our new CIBC Adapta Mastercard is a differentiator in the market as it delivers true flexibility to cardholders, putting control in their hands to help them realize their ambitions,” Diane Ferri, senior vice-president for day-to-day banking at CIBC, said in the announcement.

“Adapta is a unique no annual fee card, offering flexibility to earn points on all purchases. The first of its kind, it’s the only credit card where cardholders earn bonus points on their personal top three spend categories each month, whether it be pet stores, clothing or important everyday essentials like groceries and gas.”

As covered here in March, Research by PYMNTS Intelligence and Banyan has found cardholder engagement can hinge on the ease of accessing and the personalization of card-linked offers.

The study, “Beyond Points and Perks: How Relevant Benefits Drive Cardholder Engagement,” spotlights an important shift in how card issuers can build loyalty and lead to more frequent card usage.

“The report’s findings underscore that while many cardholders appreciate earning and redeeming loyalty rewards, the actual use of these benefits varies significantly,” PYMNTS wrote. “Notably, only 1 in 5 cardholders redeem credit rewards at least monthly, though frequent card users do so more regularly.”

A key takeaway, that report added, is that active engagement with card-linked offers is likely to increase card usage, as long as these offers line up with consumers’ everyday needs. The relevance of these offers is chiefly determined by their ease of access and the level of personalization, with more 70% of users saying factors impact their appeal.

Ease of access and personalization are crucial, with three-quarters of cardholders saying ease of access makes card-linked offers more appealing or relevant, with 74% saying the same about personalization factors.