Yes, it’s still a financial-related segment, but today it’s about Tim’s. No, it’s not time yet to do a gofundme page for them, but they’re certainly not doing well. Do remember that Tim’s isn’t actually Canadian anymore. After their merger with Burger King, they’re owned by a Brazilian billionaire’s company called 3G Capital.

Last week, Tim’s announced the end of their CIBC Double Double Visa card that only started four years ago. I called it – all their hype didn’t translate to enough people getting their Visa at only 1% cashback. Sure, the press release (after days of meetings with CIBC I’m guessing) states it was mutual and both are moving on to bigger and better things. But that translates to: The CIBC can only market so many cards and this one isn’t enough volume or card holders to continue with. The same thing happened with RBC and their Mike Weir (the golfer) card.

If you have one, CIBC will automatically switch you to their Dividend Card. You may have seen this coming as CIBC has been sending $40 cash incentives way before the announcement to switch to another of their cards. Even if you don’t want that new one – it’s too late. So take that card and activate it. Your history will or should transfer over. If not, shame on the CIBC for dropping your credit score! Cancel it after a few month if you want and if you are NOT going to be looking to borrow for at least six months. If so, keep the card or your credit score will drop a bit!

And my predication number two is coming to pass: Their just released Rewards Card that gives you a free coffee after 7 purchases is going to get clawed back. That, according to their Canadian CEO on an investor conference call. Right now they’re losing money on it. About 50% of customers use the Reward card which costs them money – but it’s not increasing sales. They want to switch to ‘individual rewards.’ In other words: You’ll get rewards based on how much you deal with them.

Right now, their sales are down 1.4% in the last quarter. I’m partly responsible as my Tim’s trips are down by half: Their new dome lids leak a lot and after three times going home to get changed, I realized I was getting average coffee and frozen, then re-heated bagels with long lineups in stores because drive-throughs take priority and I could do better elsewhere. When the Rewards card changes – it’ll be the end of my love affair with Tim’s.