CIBC Dividend® Visa Infinite* Card Review 2024
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If you’re in the market for a cash back credit card with serious earning potential, you’ll want to take a close look at the CIBC Dividend Visa® Infinite*. This card rewards everyday, essential purchases at some of the highest rewards rates available in Canada.
For those of you on the fence, our CIBC Dividend Visa® Infinite* review has all you need to know.
CIBC Dividend Visa Infinite Card
Rewards
- 4% Cash back on eligible gas, electric vehicle charging, and grocery purchases
- 2% Cash back on transportation, dining, and recurring payments
- 1% Cash back on all other purchases
- Welcome Offer First-year annual fee rebate for you and up to three authorized users.
- Annual Rewards $558 Learn how we calculate this.
- Annual Fee $120
- Minimum Income Required $60,000 individual or $100,000 household annual income.
Pros
- High cash back rewards
- Flexible cash back redemption
- Save up to 10 cents per litre on eligible gas purchases with Journie Rewards
Cons
- Minimum income requirement of $60,000 for individuals
- $120 annual fee (first year rebated)
- Annual spending caps can limit reward rates
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.
CIBC Dividend Visa Infinite Card: an overview
The CIBC Dividend Visa® Infinite* Card is one of Canada’s strongest cash back credit cards, offering 4% in rewards for eligible gas and grocery purchases. There’s also competitive rewards rates for transport purchases, dining, and recurring payments, allowing you to earn cash back on a wide range of daily expenses. All other purchases earn you 1% cash back, which is common among some of the best credit cards in Canada today.
In addition to offering strong cash back earnings, it’s easy to redeem rewards. And while the annual fee of $120 is on the higher end, this is rebated for the first year for you and up to three other authorized users, making it ideal for household use. The income requirements are also a little high, but read on for more details about why this cash back card is considered one of the best in Canada.
CIBC Dividend Visa Infinite Card rewards
The card is one of a small handful of credit cards offering up to 4% in cash back rewards. With an earn rate this high on both gas and grocery purchases, this card is among the highest potential rewards cards in Canada.
The earnings don’t stop there, however. There’s also a very solid 2% earn rate for transportation, dining, and recurring payments expenses, and a further 1% on all other purchases, which helps round out this card’s fantastic rewards potential.
Another plus is that redemption of cash back rewards is relatively unrestricted. Primary cardholders with good credit can redeem a minimum cash back amount of $25 at any point. Any cash back that remains unclaimed by the year’s end will be credited to your account the following month, at the beginning of the next year.
Like most rewards cards, however, there are certain annual limits to how much you can earn in rewards.
The 4% and 2% cash back rates are limited to whichever of these two milestones you reach first:
- $80K in net annual card purchases for all cardholders at any type of merchant, or
- $20K on grocery purchases, gas, EV charging, transportation, dining and recurring payments for all cardholders.
Once you hit either of these limits within one annual period, all cash back reward categories will earn 1% until the card reaches its reset period following your December statement each year.
CIBC Dividend Visa Infinite Card eligibility
To qualify for the CIBC Dividend Visa® Infinite* Card, you’ll need to meet the following eligibility requirements:
- Be a Canadian resident
- Have reached the age of majority in your province
- Provide proof of an annual income of at least $60,000 for an individual, or $100,000 for a household
While there is no mandatory credit requirement, it’s recommended that you have a credit score of 760 or higher.
Application for this credit card can be done online within a matter of minutes, once you meet the above criteria and answer some basic personal questions.
CIBC Dividend Visa® Infinite* Card interest rates and fees
Fees
- Annual fee: $120
- Foreign transaction fee: $0 transfer fee to over 120 countries
- Extra card fee: $30 each for up to three additional cards
- Cash advance fee: $5 within Canada, $7.50 outside Canada
Interest rates
- Purchases: 20.99%
- Balance transfers: 22.99% for non-Quebec residents, 21.99% for Quebec residents
- Cash advances: 22.99% for non-Quebec residents, 21.99% for Quebec residents
CIBC Dividend Visa® Infinite* Card perks
In addition to cash back rewards, the CIBC Dividend Visa® Infinite* Card benefits also extend to several other perks:
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Save on gas
Make further cash back savings of up to $0.10 per litre at participating Ultramar, Fas Gas, Chevron, and Pioneer gas stations when you link your card with a Journie Rewards account.
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Insurance coverage
The CIBC Dividend Visa® Infinite* Card comes with access to emergency travel insurance, auto rental collision insurance, purchase security and extended protection insurance, common carrier accident insurance, and up to $1,000 in mobile device insurance.
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Further fee rebates
Primary cardholders can continue to enjoy annual fee rebates each year if you open a CIBC Smart Plus account.
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Visa Infinite benefits
Cardholders will also get to enjoy the perks of Visa’s Infinite program, including hotel benefits, access to concierge services, as well as unique dining events when available.
Compare CIBC Dividend Visa® Infinite* Card alternatives
Our final thoughts
With some of the highest cash back rates around on gas and groceries, the CIBC Dividend Visa® Infinite* Card is ideal for both families and regular commuters. The annual fee is high but comparable to cards with lower reward rates, plus you can easily earn that fee back in rewards if you regularly spend within the high-earning categories.
Learn more about how we rate and review credit cards by visiting our methodology page.
