CIBC Dividend Cards
No Annual Fee
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* Card, which has the following features:
CIBC Dividend® Visa Infinite* Card
The CIBC Dividend® Visa Infinite* Card is one of the best Visa credit cards with cash back in Canada.
With this CIBC Cash Back Credit Card, you get:
- 4% cash back on gas, EV charging, and grocery purchases†
- 2% cash back on eligible transportation, dining purchases and recurring payments†
- 1% cash back on all other purchases†
For example, if you spend $1,000 per month on groceries and/or gas and/or electric vehicle charging, you’ll earn $40 cash back per month or $480 cash back per year with this card for this category of purchases!
And that’s not counting the other purchases you’ll make with this card and the advantages it offers (particularly in terms of insurance).
Earn 10% cash back welcome bonus of up to $200 (first 4 statements)!† 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
- Out-of-Province Emergency Travel Medical Insurance
- Purchase Security and Extended Protection Insurance
This is a digital-exclusive offer.† To be eligible for the offer:
- this offer must have been directly communicated to you from CIBC or from a partner/affiliate;
- 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 eligible card within the last 12 months.†
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.
A window will open to enter the amount to be redeemed. Select the desired amount and click on Next.
CIBC then wants confirmation of the amount redeemed, showing the remaining balance. All that remains is to click on Confirm.
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.
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!
You can get up to $200 cash back with this welcome offer over the first four billing statements. Plus, it’s all free for the first year.