CIBC Credit Card: How to use the CIBC Dividend cards cash back
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Dividendes CIBC Cartes

How to redeem cash back on a CIBC Dividend Card

To the point Here's the step-by-step process for using your CIBC Cash Back balance, earned on a CIBC Dividend Credit Card.

CIBC Dividend Cards

No Annual Fee

The CIBC Dividend Visa Card and CIBC Dividend Visa Card for Students have no annual fee. The former requires a minimum personal income of $15,000 while the student version requires no minimum income.

The CIBC Dividend Visa Card for Students Welcome Bonus is extremely easy to earn. You only need to makeone purchase in the first 4 months to earn $60 cash back.

Also, the CIBC Dividend Visa Card offers a welcome bonus. You get a 5% cashback on everything for the first four months, under certain conditions.

After this period, the accumulation rate is exactly the same for both cards:

  • 2% on grocery purchases
  • 1% on gas, transportation, restaurant purchases and recurring payments
  • 0.5% on everything else

The card used in this example is the CIBC Dividend® Visa Infinite* CardHere are the features of the card:

CIBC Dividend® Visa Infinite* Card

The CIBC Dividend® Visa Infinite* Card is one of the best Visa credit cards with cash back in Canada. The minimum annual income required for this card is $60,000 (personal) or $100,000 (household). With this CIBC Cash Back Credit Card, you get:

  • 4% cash back on eligible gas and groceries purchases
  • 2% cash back on eligible transportation, dining purchases and recurring payments
  • 1% on all other purchases

For a limited time, get a 10% cash back welcome bonus of up to $250. And you’ll get a first-year annual fee rebate!

And this CIBC Cash Back Credit Card offers many insurance coverages:

  • Auto Rental Collision/Loss Damage Insurance
  • $500,000 Common Carrier Accident Insurance
  • Flight Delay and Baggage Insurance
  • Trip Interruption Insurance
  • Out-of-Province Emergency Travel Medical Insurance
  • Purchase Security and Extended Protection Insurance

How to redeem cash back to reduce your credit card balance

Here’s how to redeem cash back on a CIBC Dividend Visa Card.

First, log in to your profile in CIBC Online Banking.

The exchange can be done at any time during the year and it is not necessary to wait until the statement is issued to do so. The only requirement is that you have a balance of at least $25.

Redeem cash back in 4 clicks

On the Operations tab, click on Redeem Now.

CIBC Dividendes Visa relevé

A window will open to enter the amount to be redeemed. Select the desired amount and click on Next.

Comment remise en argent Visa Dividendes

CIBC then wants confirmation of the amount redeemed, showing the remaining balance. All that remains is to click on Confirm.

Details remise en argent Dividendes Visa

Congratulations !

The CIBC Cash Back redemption transaction is confirmed. With this, I will have $150 less to pay on my CIBC credit card balance.

Also, a confirmation email will be sent within minutes.

Dividendes Visa CIBC

Then, your cash back redemption is posted to the account within five days. But in my experience, it is quite fast with one to two days delay.

It may be slower if there are upcoming holidays.

CIBC Dividend® Visa Infinite* Card

Its 10% welcome offer is very attractive. Indeed, it’s rare to have a 10% cash back card on groceries or gas, no strings attached!

The maximum rebate is $250 in cash back accumulated over the first four billing statements. Plus, it’s all free for the first year.

Bottom line

See our tip for using this CIBC Dividend Card at Costco here!

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