Get ready to spend money to earn money… then spend more money at the most addictive place in Canada!

Tim Hortons and CIBC recently announced plans to launch a co-branded Loyalty Rewards Visa Credit Card. This will be known as the “Double Double” and will offer “instant Tim Hortons loyalty rewards.” For every dollar you spend on the card you’re automatically given 1% back in “Tim Cash,” which can be spent on anything that Tim Hortons has for sale.

When this news was officially unveiled in February, Timmies stated that “the new CIBC Visa credit card is scheduled to launch in May 2014.” The card was unfortunately delayed, but we can now confirm that Canadians will be able to ring up their credit and add this to their wallet on July 2nd.

Tim Hortons stated in a press release that the Double Double card “has first-of-its-kind technology, with lighted buttons to select between a no annual fee CIBC Visa credit card and a rewards Tim Card – all in one convenient card.”

We’ve posted the above image a number of times. This is what your new credit card will look like. Those flashing lights indicate which card you are opting to use — either the blue Visa card to pay for products, or tap the red Tims button to redeem for greatness.