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³ Earn 2% cash back on purchases (less returns) at merchants classified by the credit card network as grocery stores and supermarkets. Earn 1% cash back on purchases (less returns) at merchants classified by the credit card network as (i) gas service stations, automated fuel dispensers, and electric vehicle charging with a merchant category code of MCC 5552 (ii) local and suburban commuter transportation in Canada including subway, streetcar, taxi, limousine and ride sharing services (excludes merchants that may be classified as travel services or travel bookings such as air transport, car rentals and cruises), (iii) eating places and restaurants, drinking places and fast food restaurants, (iv) recurring payments that are pre-authorized with a merchant to occur on a regular schedule (e.g. daily, monthly or annually) and classified by the merchant as recurring or (v) eligible purchases made through CIBC by Expedia excluding taxes, insurance, service charges or similar items. All other purchases earn 0.5% cash back. The 2% and 1% cash offers (other than the 1% cash back for eligible purchases through CIBC by Expedia) are available on the first $30,000 in net annual card purchases (meaning all card purchases by all cardholders, at any type of merchant) or $20,000 in net annual card purchases on grocery stores, supermarkets, gas, service stations and automated fuel dispensers, merchants classified as electric vehicle charging with a merchant category code of MCC 5552, commuter transportation, eating and drinking places and restaurants or on recurring payments; after that, net card purchases at all merchants, including grocery stores, supermarkets, gas, service stations and automated fuel dispensers, merchants classified as electric vehicle charging with a merchant category code of MCC 5552, commuter transportation, eating and drinking places and restaurants or on recurring payments will earn cash back at the regular rate of 0.5%. The $30,000 limit and the $20,000 limit will reset to zeros after your December Statement Date. Terms, conditions and eligible merchant categories may change without notice. Cash back is earned on card purchases less returns and not on cash advances, CIBC Global Money Transfers™, interest, fees, balance transfers, payments and CIBC Convenience Cheques. Credits for returns made on your account may result in a deduction of cash back at a higher earn rate, even though the return may relate to a purchase that earned cash back at a lower rate.