CIBC US Dollar Aventura Gold Visa Card review
- Welcome Offer
- 2,500 points
- Rewards
- Up to 1 points per $1 spent
- Annual Fee
- $0 annual fee for the first year ($35 thereafter)
- Purchase Interest Rate
- 20.99%
- Cash Advance Rate
- 21.99% for Quebec residents
Summary
Earn Aventura Points and save money on currency conversion fees when you make purchases in the US.
The CIBC US Dollar Aventura Gold Visa Card is a card for Canadians who regularly shop or travel in the US. You’ll earn one Aventura Point for every two dollars you spend on your card and you won’t pay currency conversion fees since your account balance is held in US dollars. The only catch is that any outstanding balance needs to be paid in US dollars if you want to take advantage of cost-saving benefits.
30-second take
- Think about this card if you regularly shop in the US and want to save money on exchange rates.
- Choose something else if you want comprehensive travel insurance or don’t want to pay an annual fee.
- You’ll need to have a minimum annual income of $15,000 to qualify for this card.
The basics
If you take regular trips to the US or spend a decent amount of money in the country, then you might want to check out the CIBC US Dollar Aventura Gold Visa Card.
- Save on exchange rates. Save hundreds of dollars on CAD-USD exchange rates, depending on the amount you spend.
- Welcome bonus. Get 2,500 Aventura Points when you complete a series of tasks within 60 days of your CIBC Aventura Visa account approval. Plus, get a one-time annual fee rebate.
- Rewards. Earn 1 point for every $1 spent on travel purchased through the CIBC Rewards Centre, and 1 point for every $2 spent everywhere else.
- No currency conversion fees. Avoid paying 2.5% in currency conversion fees when you make purchases on your card in the US
- Purchase assurance. Relax knowing that most consumer goods are insured against loss, theft or damage for 90 days
after you buy them. - Extended warranty. Extend your warranty by one year for all eligible purchases you make with your card.
The perks
- Common carrier insurance. Get up to $100,000 worth of insurance for trips by plane, ferry, train or bus
- Car rental insurance. Get complimentary collision and damage insurance when you rent a car using your credit card.
- Optional travel medical. Pay an additional fee to get coverage for travel medical when you take trips out of the country
- Car rental discounts. Save money on car rentals at select Avis and Budget rental agencies.
- Enhanced security. Protect your finances with a PIN-protected microchip and Visa Checkout services for online purchases.
- Tap and pay. Add your card to Apple Pay, Samsung Pay or Google Pay for quick and easy payments.
- Free additional cards. Order up to three additional cards at no extra cost.
What to watch out for
- Annual fee. You’ll pay an annual fee of US$35, but it can be rebated to your account when you meet certain conditions and is relatively low compared some other cards.
- Currency mark-up. Fees and interest rates are charged in US dollars, so there will be a mark-up on what you’ll have to spend.
- High interest rates. 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.
- Strict criteria for welcome bonus. You’ll be required to meet certain criteria to be eligible for a part of your welcome bonus.
- Requires a source of US income. You’ll need to have a source of US income to pay your balance off every month if you want to avoid currency conversion fees.
- Non-US exchange rates. You’ll still need to pay exchange rates in other countries overseas.
- Few benefits. You won’t receive benefits like comprehensive travel insurance, mobile phone insurance or roadside assistance with this card.
CIBC US Dollar Aventura Gold Visa Card interest rates
| Interest Type | Interest Rate |
|---|---|
| Purchase interest rate | 20.99% |
| Cash advance rate | 22.99% |
What criteria do I need to fill to get my welcome bonus?
If you want to collect your 2,500 bonus Aventura Points when you sign up, you’ll have to complete a series of tasks over 60 days. Each task is worth 500 points.
- Share your email address with CIBC
- Sign up for eStatements for your card
- Add an authorized user to your card
- Hold any eligible CIBC Chequing Account
- Add your Aventura Visa card to Apple, Samsung or Google Pay
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 US Dollar Aventura Gold Visa Card may be suitable for customers who regularly shop or travel in the US and can pay their balance off in US dollars. This card lets you save money on currency conversion fees and fluctuating exchange rates. It also offers basic insurance and a generous welcome bonus for one low annual fee.
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