CIBC Dividend Visa Card for Students review
- Welcome Offer
- Up to 10% cash back
- Rewards
- Up to 2% cash back
- Annual Fee
- $0
- Purchase Interest Rate
- 20.99%
- Cash Advance Rate
- 22.99%
Summary
Get special discounts and a decent return on cashback with a card tailored to meet your daily needs as a student.
The CIBC Dividend Visa Card for Students offers a decent return on cash back with no annual fee. Earn 2% cash back on groceries, 1% on gas, transportation, dining and recurring payments, and 0.5% on everything else. This card also comes with a free SPC membership, basic insurance and a generous welcome offer.
30-second take
- Think about this card if you want a decent return on cash back and no annual fee.
- Choose something else if you want comprehensive benefits and flexible rewards.
- There are no minimum income requirements to qualify for this card.
The basics
If you’re looking for a card that’s tailored to meet your unique set of needs as a student, then the CIBC Dividend Visa Card for Students could be the right fit for you.
- No annual fee. This card has a $0 annual fee.
- Decent cash back. Get cash back on all purchases.
- Extra cash back for groceries. Rack up double the cash back when you shop for groceries.
- Welcome offer. Get up to 10% cash back for the first 4 statements on total purchases of up to $1,000.
- Free SPC membership. Get a free Student Price Card to secure discounts at over 450 partner brands in-store and online.
- Purchase assurance. Your purchases are insured against loss, theft or damage for 90 days
. - Extended warranty. Lock in double the protection with an added year of warranty coverage on eligible purchases made with your card.
The perks
- Common carrier insurance. You’ll be insured up to $100,000 every time you travel by plane, ferry, train or bus.
- Optional travel insurance. Pay an additional fee to get optional travel medical insurance.
- Fraud alerts. Get notified quickly about unauthorized use of your credit card with custom email and online alerts.
- Free additional cards. Order up to three additional cards at no extra cost.
- Tap and pay. Pay instantly when you use contactless payments or Apple Pay.
- Enhanced security. Cards are equipped with an embedded microchip to encrypt information.
What to watch out for
- High interest. You’ll pay standard high interest on your outstanding balances and even more interest on cash advances and balance transfers.
- Strict redemption criteria. Cash back can only be applied as an annual credit on your December statement.
- No points. You won’t be able to collect points to cash in for rewards like travel, merchandise or gift cards.
- Limited benefits. This card doesn’t offer additional benefits like extended travel medical, mobile phone insurance or roadside assistance.
CIBC Dividend Visa Card for Students interest rates
| Interest Type | Interest Rate |
|---|---|
| Purchase interest rate | 20.99% |
| Cash advance rate | 22.99% |
| Standard balance transfer rate | 22.99% |
What should I know before I apply?
How to apply
- Head to the CIBC website to begin your application.
- Complete the application, which includes providing your name, email address, social insurance number and birth date.
- Review and submit your application.
Bottom line
The CIBC Dividend Visa Card for Students could be a good fit for you if you’re looking for a card that offers a higher cash back return on daily essentials like groceries for no annual fee. It also comes with a free SPC membership and basic insurance.
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