Evolving Rewards, Part Two: What a CIBC Mile Is Actually Worth
Over two years ago I reviewed the CIBC Caribbean Visa Classic, then still called the Silver Visa, the card I moved to after CIBC discontinued its Cash Back card, and gave its travel rewards a 6 out of 10 without ever pinning down what a single mile was worth. Recently I spent some of my accumulated balance and finally measured the exchange rate. The answer is about 0.85 percent on US-priced purchases, and a little less on anything priced in Barbados dollars.