CIBC Dividend Visa Infinite Card review
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- Welcome Offer
- Up to 10% cash back
- Rewards
- Up to 4% cash back
- Annual Fee
- $0 annual fee for the first year ($120 thereafter)
- Purchase Interest Rate
- 20.99%
- Cash Advance Rate
- 22.99% (21.99% for Quebec residents)
Summary
Get comprehensive travel benefits and earn a top cash back return when you shop for daily essentials.
The CIBC Dividend Visa Infinite Card offers a full suite of travel benefits and a decent return on cash back. You can earn up cash back on daily purchases like gas and groceries, on transportation, dining and recurring payments and on everything else. You’ll also get basic insurance and travel medical insurance.
30-second take
- Think about this card if you want a decent return on cash back and comprehensive travel benefits.
- Choose something else if you want flexible rewards and no annual fee.
- You’ll need to have an individual income of $60,000 or a household income of $100,000 to apply for this credit card.
The basics
If you want to get a full spread of benefits along with a decent return on cash back for daily purchases, then you might benefit from the CIBC Dividend Visa Infinite Card.
- Cash back. Earn 4% cash back on gas and grocery purchases, 2% cash back on transportation, dining and recurring payments and 1% cash back on everything else. There's no limit on the total cash back you can earn.
- Welcome offer. Get the first-year annual fee rebate for you and up to 3 authorized users and earn 10% cash back for the first 4 statements on net purchases of up to $2,000.
- Purchase assurance. Protect the purchases you make with 90-day coverage for loss, theft or damage.
- Extended warranty. Get an extra year of warranty coverage at no extra cost when you pay for certain purchases on your card.
The perks
- Common carrier insurance. Insure your trip with up to $500,000 coverage when you travel by plane, ferry, train or bus.
- Travel medical insurance. Get travel medical insurance for you and your family for the first 15 days of your trip.
- Travel benefits. Cover your losses with additional trip interruption, baggage and flight delay insurance.
- Optional insurance. Pay more to get balance protection insurance in case of emergency.
- Fraud protection. Rest easy knowing that your account is protected with encryption and other security features like Visa payWave for online purchases.
- Low-interest financing plans. Work out lower interest rates for large purchase financing with CIBC‘s “Pace It” installment plan.
- Tap and pay. Sign up for contactless payment with Android or Apple to pay in one easy swipe.
What to watch out for
- Annual fee. There’s an annual fee of $120 (which may be waived in the first year).
- High interest. You’ll pay an industry standard 20.99% interest on any outstanding balances and 22.99% (21.99% for Quebec residents) on cash advance transactions.
- Low return. It’s only possible to earn 1% cash back on purchases that don’t fall into special categories.
- Hard to redeem cash back. You’ll only get one payout per year, and you don’t get to choose when your cash back is applied to your account.
- Fee for additional cards. Every card that you add to your account will cost $30, with a maximum of 3 additional cards.
- Few benefits. You won’t be able to get additional coverage like mobile device insurance or roadside assistance.
CIBC Dividend Visa Infinite Card 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 Infinite Card may be suitable for you if you’re looking to earn more cash back for making daily purchases or for shopping at select vendors . This card comes with a generous welcome bonus and comprehensive travel insurance, but you’ll have to pay an annual fee to keep your account active.
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