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Best CIBC Credit Cards Canada

Best CIBC Credit Cards Canada 2018

Publish date August 26, 2018 Views: 547 Comments: 0

CIBC—the Canadian Imperial Bank of Commerce—is one of the ‘Big Five’ in Canada, providing an inclusive variety of financial services and products to people around the country, and the globe as well. Credit cards are central to their strategy of delivering financial flexibility and convenience, with their selection including cards for travel rewards, cash back, businesses, low interest, and more.

Even for someone who knows they want a CIBC credit card, choosing the right one can be daunting, given the sheer number of options available. To help narrow down your choices, we’ve determined the best CIBC card in each category and have gone into detail about why each is a winner.

CIBC Travel Credit Cards

CIBC Air Canada AC Conversion Prepaid Card

CIBC’s Air Canada AC Conversion card isn’t a credit card—it’s a prepaid card—but that doesn’t detract from its efficacy. The card’s ability to hold up to $20,000 spread across 10 different supported currencies is very useful, especially for those who want to avoid foreign transaction fees while abroad. It also provides an alternative to carrying large amounts of cash around in unfamiliar areas. When making a purchase in a foreign currency, the AC Conversion card will determine the transaction currency and automatically use the relevant currency if it’s preloaded on the card. This saves the cardholder from foreign transaction fees that are commonly 2.50% or higher, per transaction.

Cardholders can preload currencies onto their card whenever they like and lock in their exchange rate at the time of purchase. For upcoming vacations or business trips overseas, it’s especially useful to catch a favourable rate to save even further. Other travel perks from CIBC include the absence of an annual fee, and free ATM withdrawals within Canada. One free international ATM withdrawal is permitted per month. Overall, the CIBC AC Conversion card represents a strictly finance-focused tool for mobilizing your cash efficiently, regardless of the currency you’re transacting in.

$0 annual fee
Load up to 10 currencies to a maximum of $20,000
Prepaid card: cannot build or use credit
Unlimited ATM withdrawals in Canada
One free monthly international ATM withdrawal
24/7 support

Click here to apply for the CIBC Air Canada AC Conversion Visa Prepaid Card

CIBC Aventura Visa Infinite Card

With a full range of insurance perks, generous introductory bonuses, and the ability to earn Aventura points which can be spent on airfare from any airline (and more), there are few travel cards as flexible as the CIBC Aventura Visa Infinite card. Cardholders have a triple introductory bonus to look forward to, with a combined annual fee rebate ($120+ value), 15,000-point package and $100 travel credit. The annual fee rebate also applies for up to 3 secondary cards ordered at the time of application, potentially saving another $150 ($50 annual fee per secondary card) up front.

The card provides instant savings on all purchases, but the fastest rate of rewards comes when travel is booked through the CIBC Rewards Centre, at 2 points per $1 spent. The card also earns 1.5 points per $1 spent on gas, groceries, and drugstore purchases, and then 1 point per $1 everywhere else. It’s especially nice to be able to book on any airline using Aventura points and also use them to cover fees and taxes. Additionally, the card works to protect travellers with a truly impressive array of insurance perks, including coverage for trip cancellation and interruption, flight and baggage delay, rental cars, travel accidents, and of course travel medical needs.

$120 annual fee
Earn 2 Aventura points per $1 spent on CIBC travel
Earn 1.5 Aventura points per $1 spent on gas, groceries and drug store purchases
Earn 1 Aventura point for every $1 spent on anything else
Comprehensive insurance package for travellers
Triple welcome bonus: Annual fee rebate(s), $100 travel credit, and 15,000 points
Book on any airline, any seat, and any date with no restrictions
Redeem points for other rewards like merchandise and gift cards

Click here to apply for the CIBC Aventura Visa Infinite card

CIBC Balance Transfer Credit Cards

CIBC Dividend Visa Card

Though the Dividend Visa from CIBC is known as a simple, straightforward way to earn cash back on frequent expenses, it doubles as a lucrative balance transfer deal. New cardholders who transfer a balance or balances from another credit card can access 0.00% interest on this amount for 10 months, after paying a standard 1.00% transfer fee. This deal stands among some of the best in the Canadian market currently. Coupled with a low minimum income requirement of $15,000 and a $0 annual fee, the card provides an accessible yet focused package of benefits.

While those who transfer a balance are able to avoid interest entirely for 10 months, they’ll simultaneously earn cash back at an accelerated rate on groceries and can also look forward to receiving 1.00% back on virtually everything else. Cardholders will earn 2.00% cash back on their grocery purchases, which for many represents their largest monthly expense. We also appreciate the inclusion of some valuable peripheral benefits on the card, such as common carrier travel accident insurance, purchase security and extended warranties.

$0 annual fee
Earn 2.00% cash back on groceries
Earn 1.00% on everything else
No limits on the total cash back you can earn
0.00% for 10 months on transferred balances
Purchase security and extended warranties

Click here to apply for the CIBC Dividend Visa Infinite card

CIBC Rewards Credit Cards

CIBC Tim Hortons Double Double Visa Card

It’s hard to go anywhere in Canada where there isn’t a Tim Hortons, making the chain’s tasty sandwiches, doughnuts and coffee a nearly universal temptation in our lives. Hot Tims coffee is a staple in many workplaces, and cardholders who find themselves stopping by their local store to pick some up for their team will also find the Tim Hortons Double Double Visa from CIBC especially useful. All of the card’s purchases earn Tim Cash at a rate of 1.00%, which can then be spent at the counter instantly on anything at Tim Hortons.

A $0 annual fee for the card is complemented by a welcome bonus of $20 in Tim Cash, which is enough to buy your coworkers or friends a free round on you. As a cardholder you’re also a member of the Tim Hortons club, giving you the chance to get free featured products every weekend, access new trial products, and even eat complimentary Timbits on your birthday. Your card is both a TimCard and your CIBC Visa all in one, allowing you to save space in your wallet but also save money on a frequent expense. Its $15,000 minimum income requirement makes it very accessible for applicants relative to other rewards cards, and a great option for those who desire purchase and savings power without strict eligibility criteria.

$0 annual fee
Earn 1.00% in TimCash on all purchases
Spend TimCash instantly at Tim Hortons
Get $20 in TimCash as a welcome bonus
$15,000 annual income requirement

Click here to apply for the CIBC Tim Hortons Double Double Visa card

CIBC Cash Back Credit Cards

CIBC Dividend Visa Infinite Card

In terms of fast cash back from the widest array of purchases, the CIBC Dividend Visa Infinite card is the best the bank offers. Its strong 4.00% cash back rate on gas and grocery purchases means that cardholders are almost constantly saving money on what are sure to be among their biggest monthly bills. Everything that falls out of the gas and grocery category will earn cash back at 1.00%, with no maximum on how much cash back can be collected.

Though the card’s competitive rate of cash back is worth its $99 annual price tag, CIBC offers new cardholders an annual fee rebate for their first year, just for signing up and getting approved. The same rebate applies to up to 3 additional secondary cards as well, so those who want to extend the card’s benefits to their family members can do so inexpensively. As a Visa Infinite card, it also comes with some much-appreciated travel perks alongside cash back, such as 15 days of out-of-province medical coverage, trip interruption insurance, flight delay and baggage insurance, and access to luxury options and benefits at international hotels and travel programs. We also like that the card provides coverage for rental cars, as well as new purchases with extra security against damage and theft, plus extended warranties.

$99 annual fee
First year annual fee rebate on primary and up to 3 supplementary cards
Get 4.00% cash back on groceries and gas
Get 1.00% cash back on everything else
Comprehensive travel insurance benefits
Visa-provided access to luxury hotel and travel perks

Click here to apply fo the CIBC Dividend Visa Infinite card

CIBC Dividend Platinum Visa Card

Applicants who are interested in the Dividend Visa Infinite card, but who don’t want the extra insurance benefits, or who can’t meet the $60,000 annual income requirement will likely turn to the bank’s Dividend Platinum card. It has cash back perks that are virtually identical to its big brother above but excludes insurance perks in exchange for a minimum income requirement of just $15,000. Cardholders will still get 4.00% cash back on gas and groceries, 1.00% on everything else, and their first year’s annual fee rebated ($99+ value). Up to 3 additional supplementary cards also have their annual fees rebated during the first year.

There is still some basic insurance offered via the Dividend Platinum Visa, such as auto rental collision and damage coverage, travel accident coverage and protection for newly purchased items. Overall, it’s one of the best ways to earn cash back at a competitive rate, without being asked to meet lofty minimum income requirements.

$99 annual fee
Annual fee rebate for primary cardholder and up to 3 supplementary cards
Minimum income requirement of $15,000
4.00% cash back on gas and groceries
1.00% cash back elsewhere
Basic insurance and new purchase protections (damage coverage and extended warranties)

Click here to apply for the CIBC Dividend Visa Infinite card

CIBC Low Interest Credit Cards

CIBC Select Visa Card

CIBC cardholders who know that they may be carrying a balance at some point will enjoy the Select Visa card thanks to its capacity to reduce interest charges. The card’s competitive interest rate of 13.99% on both cash advances and purchases ensures more flexibility with how cardholders take advantage of their credit, and a simultaneous balance transfer promotion further aids in their savings efforts. The special offer from CIBC gives new cardholders a 0.00% interest rate on their transferred balances from other credit cards for an impressive 10 months (after a 1.00% transfer fee). Though cardholders must pay an annual fee of $29, this low amount is more than eclipsed by the interest payment savings potential.

There are a few other reasons to like the CIBC Select Visa, including its low minimum income requirement for eligibility—just $15,000. Add in common carrier accident insurance and the card justifies its reputation for inclusive, thoughtful financial power. Finally, it’s important to know that the cardholder will only be able to transfer 50% of their approved credit limit to the card if they wish to do a balance transfer.

$29 annual fee
13.99% interest on purchases and cash advances
0.00% for 10 months on transferred balances
Low $15,000 yearly income requirement
Common carrier accident insurance

Click here to apply for the CIBC Select Visa card

CIBC Student Credit Cards

CIBC Dividend Visa Card for Students

The student version of CIBC’s excellent Dividend Visa is logically called the Dividend Visa for Students, and it offers an array of features that are largely identical to the other card. This is surprisingly rare for a student credit card—to offer matching financial power to those who can’t meet any real income requirements or credit score goals (and aren’t asked to by CIBC either). Students will earn an impressive 2.00% cash back on their grocery store purchases, and then 0.50% on their other purchases. After spending $6,000 with the card in any year, their “all other purchases” cashback rate is upgraded to 1.00%.

Students who are transferring a balance from another credit card will also be able to take advantage of CIBC’s worthwhile promotion, which gives 0.00% interest on this amount for one’s first 10 months as a cardholder. All this is provided for no annual fee. In terms of value and accessibility, CIBC’s Dividend Visa for Students is nearly ideal.

$0 annual fee student card
No minimum income requirement
2.00% cash back on groceries
0.50% to 1.00% back on everything else
Common Carrier Accident insurance
Purchase security and extended warranties

Click here to apply for the CIBC Dividend Visa Card for Students

CIBC Business Credit Cards

CIBC Aventura Visa Card for Business Plus

CIBC offers business owners a small range of credit cards that help maximize rewards earnings from monthly expenses, which can then be redeemed on travel. The CIBC Aventura Visa card for Business Plus collects 2 points for every $1 spent on travel through the CIBC rewards centre, and then 1.5 points per $1 spent on gas and travel booked from elsewhere (flights, hotels, vacation packages, car rentals etc.), with 1 point per $1 collected from every other purchase. Aventura points can be redeemed for any flight on hundreds of airlines with no blackout dates or seating restrictions (including taxes and fees). Check our Loyalty Program Bible and you’ll see that Aventura points have a variable dollar value depending on what you redeem them for, with options that also include merchandise, gift cards, and more, so be sure to consider this advantage.

Besides earning valuable Aventura points wherever they go, business owners will enjoy the thorough reporting available through Visa. Visa Payment Control and Business Reporting offer more control to those who may need to print cards for their employees (up to 15 of them) and monitor spending or set pre-approved limits. As a business travel card, it’s only logical that the Aventura Visa also comes with thorough insurance that includes coverage for flight delays and baggage, rental vehicles, trip cancellation and interruption, and more. Cardholders will also appreciate saving up to 25% at Avis and Budget rental locations worldwide.

$120 annual fee
Earn 2 Aventura points for every $1 spent on CIBC travel
Earn 1.5 Aventura points for every $1 spent on gas and travel
Earn 1 Aventura point per $1 spent elsewhere
Up to 25% off at Avis and Budget worldwide
Visa Business services
Comprehensive travel insurance
Purchase security and extended warranties

Click here to apply for the CIBC Aventura Visa Card for Business Plus card

CIBC bizline Visa Card for Business

Aimed at startups and businesses with a more limited financial history, the bizline Visa from CIBC is a purposeful tool for accessing a high credit limit and low interest at the same time. Cardholders will pay as little as 1.50% interest above CIBC Prime rates (on cash advances and purchases) and receive a credit limit of up to $50,000, lending enough financial flexibility to help them take their small business to the next level. Getting the card requires a reasonable annual income of $35,000, and it doesn’t ask cardholders to pay an annual fee either.

Up to 9 supplementary cards can be printed at no additional yearly cost, allowing employees to access company funds responsibly and inexpensively. Though it offers little in the way of auxiliary benefits, it’s still nice to see complimentary travel accident insurance, if nothing more. Generally, the CIBC bizline card represents a solid strategy for a small business to access affordable credit and exercise greater flexibility.