The best CIBC credit cards in Canada for 2024
October 15, 2024
Explore the best variety of CIBC credit cards, tailored to meet your unique needs. Compare, choose, and apply today for a card that matches your purchasing habits.
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Best CIBC credit card by category
Best CIBC credit card
Best for Travel
based on spending $2,200/mo after the annual fee
- Earn rewards
1pt – 2pts / dollar spent
- Welcome bonus
45,000 points (a $900 value)
- Annual fee
see Details
Perks of the CIBC Aventura® Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Up to $500,000 | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Up to $5,000,000 for 15 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $65,000 for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Up to $5,000 per occurrence | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Up to $2,000 per occurrence | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Up to $500 per occurrence | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Up to $1,000 per occurrence | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Up to $1,000 per occurrence | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Up to $1,000 per occurrence | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Up to 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | One additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- This offer is not available for the residents of Quebec.
- Welcome Offer: Join and get up to $1,450 in value including a first year annual fee rebate!† Here’s how you can get up to $1,450 in value
- Get up to 45,000 Aventura Points (up to $ 900 in travel value†):
- 15,000 Aventura Points when you make your first purchase†
- 30,000 Aventura Points when you spend $3,000 or more in the first 4 monthly statement periods†
- Get a one-time annual fee rebate ($139) for you (the primary cardholder) and up to three authorized users ($50 each): up to $189 value.†
- Elevate your airport experience with 4 complimentary visits at 1,200+ lounges globally through Visa Airport Companion Program: up to $277 in value.†
- Plus, get a NEXUS◊ Application Fee rebate†: A $100 value†
- Plus, enjoy extra valuable travel benefits.
- Travel when it’s right for you – your Aventura Points don’t expire†
- Redeem your Aventura Points for more than travel with our Shop With Points/Pay with Points features†
- Travel local – Aventura Points can be redeemed for more than just flights – use your points for hotels and car rentals for a weekend getaway
- 2 points for every $1 spent on travel purchased through the CIBC Rewards Centre†
- 1.5 points for every $1 spent at eligible gas stations, EV charging, grocery stores and drug stores†
- 1 point for every $1 spent on all other purchases†
- Save on gas with CIBC and Journie Rewards Link and use your CIBC Aventura Visa Infinite Card with Journie Rewards to save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
- This is a digital-exclusive offer.†
- To be eligible for this offer, 1) this offer must have been directly communicated to you from CIBC or from a partner/affiliate; and 2) you must apply for the eligible card through the link provided in the CIBC or partner/affiliate communication to you.† This offer is reserved for you. Please do not forward it to anyone else.
- CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Aventura card within the last 12 months.†
- †Terms and Conditions Apply. Select Apply Now to learn more.
Ratehub’s take
The CIBC Aventura Visa Infinite card really ramps up rewards for everyday purchases such as gas and groceries. It also provides extensive insurance coverage, lounge access, and a Nexus rebate, proving to be a great travel companion for travelers.
Pros
- Access to airport lounges: Enjoy four complimentary visits at over 1,200 lounges globally through the Visa Airport Companion Program
- Extensive insurance coverage: Enjoy a comprehensive insurance package from mobile device insurance to emergency travel medical insurance
- Additional rebates and perks: Receive a NEXUS application fee rebate
Cons
- Low point earn rate: Other rewards cards offer higher points per spending category
- Income requirement: A minimum personal income of $60,000 may may be prohibitive to some
- Annual Fee: An annual fee of $139 is high compared to others on the market
- Limited travel redemption options: You’ll have to use the CIBC Rewards Centre to book travel with your points, whereas with other cards you can experiment with other providers and platforms to get the most value
Eligibility requirements
Minimum credit score: 725
Minimum income: $60,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Annual fee
$139
Best cash back CIBC credit card
Best for Groceries & gas
based on spending $2,200/mo after the annual fee
- Earn rewards
1% – 4% / dollar spent
- Welcome bonus
$300
- Annual fee
see Details
Perks of the CIBC Dividend® Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | $500,000 per person | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | $5,000,000 for 10 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $65,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Up to $1,000 per occurence | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Replacement/repair within 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
Ratehub.ca’s 2023 Award Winner – Best Cash Back Credit Card
Welcome Offer: Get a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $300 (first 4 statements)!†
- After that, get 4% cash back on eligible gas, EV charging and grocery purchases.†
- 2% cash back on eligible transportation, dining purchases and recurring payments†
- 1% cash back on all other purchases†
- Get cash back on demand – redeem your cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®†
- Save on gas with CIBC and Journie Rewards
- Link and use your CIBC Dividend® Visa Infinite* Card with Journie Rewards to save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
- This is a digital-exclusive offer. To be eligible for this offer: 1) this offer must have been directly communicated to you from CIBC or from a partner/affiliate; and 2) you must apply for the eligible card through the link provided in the CIBC or partner/affiliate communication to you.† This offer is reserved for you. Please do not forward it to anyone else.
- CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Dividend card within the last 12 months.†
- This offer is not available for the residents of Quebec.
- †Terms and Conditions Apply. Select Apply Now to learn more.
Ratehub’s take
The biggest selling point of the CIBC Dividend Visa Infinite is its impressive rewards on everyday essentials. On top of the 1% earn rate for all purchases, this card earns 4% cash back on both groceries and gas purchases – the best on the market, for two of the most common spending categories for Canadian households.
Pros
- High earn rates on specific categories: Significantly higher earn rates on groceries, EV charging, and gas than most other cards (4% cash back)
- Redeem any time: Users can redeem rewards at any time as a statement credit starting in increments of $25
- Convenient payment option for large purchases: Access to CIBC’s Pace It program, allowing you to pay off large purchases in monthly increments
- Exclusive program access: Access to the Visa Infinite Program, entitling you to attend special dining events and hotel perks at participating hotels and restaurants
Cons
- Income requirement: The annual fee ($120) and personal income requirements ($60,000) may be prohibitive
- Limited insurance coverage: Insurance coverage isn’t as comprehensive as other similar rewards cards (if insurance is a priority for you, consider the cards featured on our list of best credit cards for travel insurance)
- Annual cash back is limited: While the points earnings rate is impressive, annual rewards at 4% and 2% are capped at $80,000 total, then you’ll earn at the base rate
Eligibility requirements
Minimum credit score: 725
Minimum income: $60,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Annual fee
$120
Best balance transfer CIBC credit card
- Pay $390.00/mo
during the promo to pay off $3,900 transferred balance
- 1% Balance transfer fee
A fee of $39 will be added to your balance
- Annual fee
see Details
Perks
- Transfer your credit card balance – Get 0% interest for up to 10 months with a 1% transfer fee† and a two year annual fee rebate†
- Check full offer details below†
- Transfer your credit card balance and get 0% interest for up to 10 months with a 1% transfer fee†
Transfer up to 50% of your assigned credit limit†
If you choose to carry a balance and you make your minimum payments on time, a balance transfer could save you money on interest - Take advantage of this 0% introductory interest rate on balance transfers for your first 10 months.
- You’ll only have to pay a 1% fee† when you transfer your balance from another card to the CIBC Select Visa Card
- This balance transfer offer is only available at the time of your online application.† Simply tick the checkbox to select the balance transfer option when you’re filling out your application.
- Once you take advantage of this offer, you will have a promotional rate balance on your account. As a result, you will lose your interest-free grace period on new purchases unless you pay your amount due, including any promotional rate balances, in full each month. While you will enjoy the promotional rate on the balances you transfer by using this offer, new purchases will be subject to the purchase interest rate.
- Save on gas with CIBC and Journie Rewards
- Link and use your CIBC Select Visa Card with Journie Rewards to save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
- Purchase Interest Rate – 13.99%
- Ongoing Balance Transfer APR – 13.99%
- Cash advance Interest – 13.99%
- †Terms and Conditions Apply. Select Apply Now to learn more.
Ratehub’s take
The CIBC Select Visa tops our list for best balance transfer cards, offering a below-average interest rate of 13.99% across all transactions. With a low annual fee, a strong welcome bonus, and additional benefits like extended warranty and purchase protection, it is a strong choice for efficiently managing credit card debt.
Pros
- Low APR across the board: Below-average APR of 13.99% across the board on purchases, balance transfers, and cash advances
- Affordable annual fee and readily accessible: Low $29 annual fee (which is rebated for the first two years) and has a minimum household income requirement of just $15,000 making it accessible to most Canadians
- Free secondary cards: Get up to three free secondary cards, enhancing flexibility for shared finances
- Included travel coverage: One of the few low interest cards to offer additional travel coverage in the form of up to $100,000 in common carrier accident insurance
- Additional benefits: Access additional benefits including extended warranty, purchase protection, and access to CIBC’s 24/7 customer service team
Cons
- Limited perks: As a low interest credit card, the CIBC Select Visa doesn’t offer much in the form of perks
- Online exclusive offer: The balance transfer offer is exclusively available to new cardholders applying online
- Transfer limit restrictions: You can only transfer 50% of your assigned credit limit (e.g. if you’re approved for the CIBC Select Visa with a $2,000 credit limit, you can only transfer up to $1,000 from another credit card)
Eligibility requirements
Minimum credit score: 660
Minimum income: $15,000/yr
Interest rates
Purchase interest: 13.99%
Cash advance: 13.99%
Balance transfer: 0.00% for the first 10 months. 13.99% after promo.
Annual fee
$29
CIBC credit cards types
As a leading bank in Canada, CIBC offers over 20 credit cards for the diverse needs of Canadians, including some of the most popular travel rewards credit cards in the country.
Travel Rewards
CIBC offers two types of travel rewards credit cards: Aventura Visa Cards and Aeroplan Visa Cards. The four personal CIBC Aventura Visa Cards let you collect Aventura Points on all of your purchases, which are redeemable for airfare on any airlines with no blackout periods, or a number of merchandise items available on the CIBC Aventure website. Each tier comes with greater rewards, but also a larger annual income requirement and larger annual fee. If you strictly want to earn travel rewards points, you could also look at one of the three CIBC Aeroplan Visa Cards, which let you earn Aeroplan Miles for each $1 spent on your credit card. Similar to the Aventura cards, each tier comes with greater rewards and better sign-up bonuses, but also larger annual income requirements and larger annual fees. CIBC also offers special Aventura and Aeroplan cards for both students and businesses (as well as some everyday cards for them, too).
Read More
Cash Back Rewards
On top of offering some of the most popular travel rewards credit cards, CIBC offers a variety of other credit card products with great rewards. If you’d prefer to earn cash back with each purchase you make, there are four CIBC Dividend Visa Cards to choose from - some of which offer up to 4% cash back on groceries and gas.
Other Cards
If you tend to carry a balance, the CIBC Select Visa Card has a low interest rate of 13.99%. And finally, if you’re someone who travels south of the border often enough, you may also want to consider getting a CIBC US Dollar Visa Aventura Gold Visa Card, which will let you pay with US funds and avoid transaction fees.
CIBC Pace It™
For those looking to use their CIBC credit card on a larger-scale purchase, the bank offers their Pace It™ program. Using this option, cardholders can pay for items of $100 or more on an installment plan of six, 12, or 24 months. The plans all carry much lower-than-average interest rates (5.99%, 6.99%, and 7.99%, respectively) and have a one-time installment fee (1.50% of the purchase amount). All you need to do is skim through your transaction history and select one with an “eligible for installments” label, then choose a plan that works best for you. It’s a perfect way to manage your budget and make bigger expenses easier to handle.
CIBC Costco Mastercard
If you have a Costco membership (and use it frequently), CIBC’s co-branded Costco Mastercard may be worth looking into. Using this card, customers can earn cash back on in-store and online Costco purchases, plus save when gassing up at any Costco branded station. It also offers extended warranty protection, purchase security, and mobile device insurance for any tablet or smartphone purchased with the card.
More on CIBC
The Canadian Imperial Bank of Commerce (CIBC) was founded in 1867 and is one of the leading financial institutions in Canada. In 2014, Bloomberg Markets ranked CIBC as the second strongest bank in North America and 15th strongest in the world. CIBC offers retail and business banking, wealth management and wholesale banking. With headquarters in Toronto, Ontario, and over 1,100 branches around the world, CIBC has over 45,000 employees and serves 10 million clients.
Natasha Macmillan, Business Director of Everyday Banking
With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read full bio
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Other card types
Travel programs
Banks
Calculators
Credit Card Basics
Types of Rewards Credit Cards
Insurance Products
- Credit Card Rental Car Insurance
- Trip Cancellation/Interruption Insurance
- Travel Medical Insurance
- Travel Accident Insurance
- Delayed Baggage Insurance
- Lost Luggage Insurance
- Flight Delay Insurance
- Hotel/Motel Burglary Insurance
- Purchase Security Insurance
- Price Protection Insurance
- Extended Warranty Insurance