CIBC Dividend Visa Card Review
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CIBC Dividend Visa Card
Rewards
- 2% Get 2% back on groceries.
- 1% Earn 1% back on recurring payments and bills, transportation, gas, and dining.
- 0.5% Get 0.5% back on everything else.
- Welcome Offer Earn a 5% cash back welcome bonus of up to $100 Terms and conditions apply.
- Annual Rewards $255 Learn how we calculate this.
- Annual Fee $0
- Minimum Income Required $15,000
Pros
- Generous cash back rewards on select items
- No annual fee
- Save on gas
- Extended warranty
- Worldwide acceptance
- Purchase protection
Cons
- Only primary cardholders can redeem points
- Highest cash back rates are capped annually
The CIBC Dividend Visa Card is an excellent choice for those who want to take advantage of generous cash back rewards, no annual fee, and purchase protection benefits. This card offers worldwide acceptance, savings on gas, and no fee for up to 3 additional cards. Learn more in our review below.
Are you looking for a cash back credit card with great rewards? The CIBC Dividend Visa Card may be the perfect option for you. It’s packed with features like no annual fee, low-interest rates, and a rewards program that gives you up to 2% cash back in select categories.
This comprehensive CIBC Dividend Visa Card review will cover all aspects of this card, including benefits, fees and interest charges, eligibility criteria, and more.
CIBC Dividend Visa Card: an overview
The CIBC Dividend Visa Card lets you save on gas and car rentals. With no annual fee and no charge for up to three additional cards, you and the entire family can enjoy cash back rewards. The benefits of this card come at no cost.
On top of the cash back earned on pricey groceries, gas, and dining, the card offers three types of insurance coverage and currently offers a promotional rate on CIBC Global Money Transfers.
CIBC Dividend Visa Card rewards
The CIBC Dividend Visa Card is an affordable way to earn cash back on your daily spending.
Cardholders are eligible for:
- 2% cash back on all groceries
- 1% cash back on gas, electric vehicle charging, dining, other transportation purchases, and recurring payments
- 0.5% cash back on all other purchases
You can earn these cash back rates on the first $20,000 you spend on groceries, the first $80,000 spent on gas, dining, transportation, and recurring payments for all cardholders.
After each limit is reached, you’ll earn 0.5% cash back on additional payments until the end of the year. And although all cardholders (primary and additional) earn cash back rewards, only the primary cardholder can redeem cash back rewards.
Once you have $25 worth of cash back rewards, you can redeem them online or through the banking app. Cash back can also be added as annual credit to your January statement.
CIBC Dividend Visa Card eligibility
The CIBC Dividend Visa Card is available to Canadian residents of legal age who meet the minimum income and credit score requirements.
First, you must meet the minimum annual income requirement, which is $15,000. You can also improve your chances of approval by maintaining a good credit score (670+).
CIBC Dividend Visa Card interest rates and fees
Fees
- Annual fee: $0
- Foreign transaction fee: 2.5%
- Extra card fee: $0
Interest rates
- Purchases: 20.99%
- Cash advances: 22.99%
- Cash advances (Quebec): 21.99%
- Balance transfer rate: 22.99%
CIBC Dividend Visa Card perks
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Save on gas
You can link this credit card to CIBC’s Journie Rewards program to earn up to 10 cents per litre at partnered gas stations.
Journie Rewards members save 3 cents per litre and an additional 7 cents once 300 Journie Points are earned.
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Insurance protection
The CIBC Dividend Visa Card offers purchase protection, extended warranty, and travel accident insurance.
The card also offers Visa’s Zero Liability Protection Program and fraud alerts.
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Send money abroad
Right now, the CIBC Dividend Visa Card is offering a promotional rate of 0.125% cash back on a CIBC Global Money Transfer.
There are no additional transaction fees for sending money abroad as long as your balance is paid before the payment date.
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Worldwide acceptance
You can use your CIBC Dividend Visa Card anywhere in the world where Visa is accepted as payment.
You also have access to 24/7 customer service and fraud monitoring services.
Compare CIBC Dividend Visa Card alternatives
Our final thoughts
The CIBC Dividend Visa Card is a well-rounded credit card that offers the most rewards to those who drive a gas or electric vehicle and buy groceries on a regular basis.
While the card does offer some travel benefits like travel accident insurance, rental car discounts, and worldwide acceptance, there are other cards better suited to the avid traveller.
There are also other rewards credit cards that can provide more value if you don’t drive and tend to eat out more than you cook at home.
