CIBC’s Dividend Visa Card Review

  • 4 min read

Reward credit cards can be a great way to earn rewards for the day-to-day spending a client is going to do anyway, but there are individuals out there who would rather get cash back than deal with the fuss of collecting points to redeem. CIBC offers a line of “dividend” cash back Visas that provide options to meet the needs of these clients and different lifestyles. Customers looking for a cash back Visa option should look at the CIBC Dividend® Visa* Card.

There is no annual fee for the primary holder and up to three added cardholders on the account and there are plenty of ways to earn cash back and save money. The card earns customers 2% cash back on grocery store purchases, 1% cash back on dining, transportation spending, gas, and recurring bill payments placed on the account, as well as 0.5% on all other spending. Plus, there’s no limit or cap on the cash back that can be earned.

An added perk to this card is that there are two ways customers can redeem their cash back rewards. CIBC has introduced a “Cash Back on Demand” feature: clients can gain access to their cash back instantly via CIBC online, their mobile banking app, or by calling their customer service line at 1-800-465-4653. There’s also the option of waiting to get that cash back annually when it is placed on the credit card statement every January.

For customers who are part of the Journie rewards program, cards can be linked to their CIBC Dividends Visa to earn 3 cents off every liter when gassing up at participating Ultramar, Chevron, and Pioneer stations.

The purchase interest rate on this card is 19.99%, while cash advances are at 22.99%. The requirements to apply, include a minimum annual household income of $15,000.

CIBC Dividend Platinum® Visa* Card

Clients looking for some added perks and rewards may want to consider the CIBC Dividend Platinum® Visa* Card. There is an enhanced earning potential with cash back, as clients get 3% on grocery and gas purchases, 2% back on dining, transportation, and recurring bill payments placed on the account, plus 1% cash back on all other purchases.

The CIBC Dividend Platinum Visa also offers added insurance benefits like Auto Rental Collision and Loss Damage, Common Carrier Accident, Emergency Travel Medical, and the Payment Protector plan.

This card costs an annual fee of $99 (with each added cardholder costing $30 each); however, the welcome offer for this Visa waives the fee for the first year.

Clients still enjoy the Journie rewards savings of 3 cents per liter at participating stores, as well as no caps on cash back spending, the same redeeming options as the standard Dividend Visa, and this card also has the same interest rates on purchases and cash advances. It’s important to note that another component of the “welcome offer” on the CIBC Dividend Platinum Visa is a 10.99% purchase interest rate until August 2021.

The minimum requirement to apply for this card is an annual income of $15,000.

CIBC Dividend® Visa Infinite*

The most rewarding credit card option in this CIBC Visa line is the CIBC Dividend® Visa Infinite*. Clients can earn 4% cash back on grocery and gas purchases, 2% on dining, transportation, and recurring payments, and 1% on all other purchases. Plus, customers unleash some added benefits separate from the above options, including Mobile Device protection and exclusive access to the Visa Infinite program that opens a door of luxury travel and hotel benefits, worldwide.

The annual fee for primary cardholders is set at $120, with $30 for each added user, but the fee is waived for this as a “welcome” offer to new clients applying for the credit card. Another sign-up bonus is a low purchase interest rate of 10.99% until August 2021.

Much like the other two Dividend Visas, the Infinite offers clients two options for redeeming their cash back rewards, there are no limits on the cash back earned, and customers can save money at the pump if they link their Journie cards to the Visa.

With that said, there is a minimum annual income of $60,000 (individual) or $100,000 (household) to apply for the credit card.

To learn more about CIBC’s Dividend Visas, visit CIBC Dividend® Visa Infinite*.

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Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.