CIBC bizline® Visa Card for Small Business Review

  • 3 min read

Without a doubt, one of the most important tools of modern business management is a good line of credit. This gives you the freedom and the option to expand, with the available funds to do so at your fingertips. The CIBC bizline® Visa Card for Small Business offers a reliable and effective platform that will help your business grow. Not only does it offer business owners access to funds when needed (as a credit line), but it also provides convenience when spending, as it also can be used as a credit card.

One of the main reasons that the CIBC bizline® Visa* Card for Small Business is so well-liked is it comes with no annual fee, which can save you a significant amount of money. There is no additional cost for added cards, with up to 9 cardholders allowed on the account. This is a great advantage if you have partners or managers that are responsible for spending: they have a card of their own.

The interest rates start as low as 1.5% above the CIBC prime rate and this applies to both cash advances, as well as purchases. 

The CIBC bizline Visa Card offers a credit limit of up to $50,000. Great for getting that business started! Plus, the minimum income requirement is $35,000. 

With the card, business owners have convenient access to both cash and a credit card for spending, whether that be needed for a car rental, dinner with clients, or a down payment on office renovations. Not only can you charge items on your card, but when funds are needed immediately, they can be taken out of an ATM.  Personalized cheques are also provided for the account. There is also an emergency cash advance option of $5,000; credit limit availability is considered when using this feature.

Also, business owners gain access to CIBC’s exclusive CreditSmart tool that helps to track, manage, and organize your business spending on bizline. It also assists you to understand your credit statement easier, so you know exactly where your money is spent, both on a monthly and yearly basis. Access to this report is available online to be viewed 24/7.

The CreditSmart feature also offers Spend Alerts that allow you to set up a budget, monthly. Should you spend past that figure, you’ll be notified. You will also be given a notification when you are approaching the limit on your card.

The tool also has Fraud Alert Security that notifies you if there is unusual activity on the account. These features, spending management tools and credit products, make CreditSmart superior to other business banking packs.

The bizline Visa also gives business owners an added layer of security with its chip-enabled technology system, which is not only secure, but also offers an easier way to pay for those shopping trips for office supplies.

Lastly, you can travel with confidence on business trips thanks to the bizline’s Common Carrier Accident Insurance that covers you, your spouse, plus dependent children when traveling by plane, train, ferry, or bus for up to $100,000. 

The application is quick, simple, and can be done online at CIBC.com. The process takes mere minutes, and you should get a response from their compliance team shortly after you submit the form. 

For more information visit CIBC bizline® Visa Card for Small Business.

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.