Hi! Few months ago, CIBC introduced smart account tier banking. Depending on how much $ you hold throughout all their products, it would allocate you to tier 1, 2, or 3, which provides different benefits.
Depending your tier, your credit card annual fee will be rebated. CIBC’s system keeps calculating me to the wrong tier. I understand it’s based on the previous two month average balance. But this is still getting calculated incorrectly and assigning me to the wrong tier. I have escalated this already but nothing was done to resolve it as the rep just reiterates how it’s assigned but does not show the actual math in how they calculate my tier. They keep saying it’s because investments going up and down but I can confirm I still was able to hold the minimum threshold for tier 3 by end of each day.
My only concern for the incorrect tier system is because I won’t get the full credit card rebate now.
Has anyone experienced the same issue? TIA