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CIBC is one of Canada’s biggest banks, offering customers a wide range of credit card options. This means there’s something for everyone, but with so much choice finding the right card for you might seem daunting.
Whether you’re a student looking for an entry level credit card, or a frequent flyer looking to collect Aeroplan points, CIBC has several options for you to consider. And we’ve reviewed the best CIBC credit cards to help you narrow down your search.
One of CIBC’s most popular no-fee cards is the Aventura Visa. Considering this card has no annual fee, its rewards are impressive. You can earn more than 16,000 Aventura points per year if you meet the $2,000 monthly spending threshold across eligible purchase categories.
However, according to the fine print, you’ll only earn the top tier points on net purchases up to $6,000 per year.
The CIBC AC Conversion Card is a prepaid, no-fee card designed for multi-currency use. For those looking for a multi-currency card with low fees and no risk of incurring debt, it’s a great option.
This card allows you to load up to 10 currencies at once, meaning you won’t have to worry about exchange rate fluctuations while you travel. You can also earn 1% cash back on all purchases. However, this offer is temporary and expires on October 31, 2023.
The CIBC Dividend Visa® Infinite* Card is among Canada’s most valuable cash back rewards cards, with huge earning power on important purchase categories like gas, groceries, and recurring payments. This makes it ideal for families and those making regular commutes. It’s got a high annual fee and income requirement, but if your spending in high-earning categories is sufficient, this card will generate some of the biggest cash back rewards around.
This CIBC Dividend Visa Card is one of the most popular CIBC credit cards, primarily because of its rewards program. It boasts a competitive 4% cash back rate on eligible purchases, such as gas and groceries.
There’s also 2% cash back on transportation, dining, and recurring payments. What’s more is that the spending cap for both 4% and 2% cash back rewards is high, at $80,000 dollars per year. For cash back on everyday spending, this card is a strong performer.
The majority of value from this Aeroplan card comes from the travel benefits. You can get free checked bags, and you’ll also have more opportunities to reach Aeroplan Elite Status.
For those travelling frequently with Air Canada, this card comes with a healthy rewards structure as well as good insurance coverage.
For avid Costco Canada clients, the CIBC Costco Mastercard is a recommended way to maximize your annual cash-back savings. With a $0 annual rate, there is no disadvantage to the card as long as you clear your balance every month by the due date to avoid the 19.75% interest rate.
With a lower interest rate on purchases and cash, as well as up to 3% cash back on restaurants and Costco-branded gas stations, this is a strong rewards card with no annual fee.
If you’re a regular at Costco and a customer of CIBC, this card has a lot of positives. Keep in mind that cash back rewards are issued in the form of a single annual Costco voucher.
The CIBC Select Visa is a low-interest credit card designed specifically for lower-income Canadians to help pay down their debt. It also offers the ability to transfer old debt to your new card with a 0% interest rate for 10 months (with a 1% transfer fee). Learn more about the card in the review below.
The CIBC Select Visa card is one of the best low-interest cards available in Canada. It comes with a very competitive balance transfer offer, making it one of the best balance transfer cards in Canada.
The interest rate is competitive, at 13.99% for both purchases and cash advances. In addition, the low $29 annual fee is rebated for the first year.
This card offers students the chance to reap CIBC credit card benefits without the worry of fees. For students looking to snag credit card travel rewards, it’s a fantastic option. The welcome offer of up to 2,500 Aventura points can be easily collected, and you can earn rewards points for both specific and general eligible purchases.
Variety of credit cards to choose from
Access to Aeroplan rewards program
Strong rewards and insurance coverage on premium cards
Little network choice with only one MasterCard option
Income requirements for all premium cards
No-fee cards are less competitive
CIBC offers a wide range of credit cards, making it likely that you’ll find one that fits your needs. Some of its credit cards are among the best available in Canada, so depending on your circumstances, a CIBC credit card could well be the best choice.
As always, take your time to consider your own needs and compare details, such as interest rates, fees, rewards programs, and benefits.
Application for a CIBC Credit Card is straightforward. You can go online and apply for your chosen card, which in most cases will take no more than five minutes. Approval for most cards is fast.
For customers looking for flexibility with their CIBC credit card benefits, Aventura might be a more beneficial rewards program. However, Aeroplan is the premium frequent flyer program in Canada. The answer really depends on your own unique needs.
Your sign-up bonus of 10,000 Aventura points is worth $125.
Generally, you’ll need a credit score of at least 660 to qualify for most CIBC credit cards. The Aventura Student Card is one exception, however, as this card is intended for students with little to no existing credit history.
