How do you unlock the $300 cash back on the CIBC Dividend® Visa Infinite* Card?

The current offer on the CIBC Dividend® Visa Infinite* Card can reach $300 in cash back: up to $250 via 10% cash back on the first 4 statements (up to the offer cap), plus an additional $50 for setting up pre-authorized payments. The $120 annual fee is also rebated in the first year. To unlock the maximum, the cardholder must use the card heavily during the first 4 months and set up a pre-authorized payment (telecom, streaming subscription, insurance) on the CIBC account within the first 60 days.

What are the cash back rates on the CIBC Dividend® Visa Infinite* Card?

The CIBC Dividend® Visa Infinite* Card earns 4% cash back on groceries, at supermarkets, gas stations, and electric vehicle charging stations (up to a combined $20,000 per year), 2% on public transit and dining, and 1% on all other purchases. Cash back is paid automatically each December, with a manual redemption option starting at $25 available at any time. For a household that spends $1,200 per month on groceries, the card returns about $576 per year net of fees.

What minimum income is required for the CIBC Dividend® Visa Infinite* Card?

The CIBC Dividend® Visa Infinite* Card requires a personal income of $60,000 or a household income of $100,000, the standard threshold for Visa Infinite cards in Canada. The CIBC Dividend Platinum® Visa* Card version instead requires $15,000 in household income, making it much more accessible to newcomers, students, and self-employed workers. The CIBC Dividend student card accepts scholarship income or part-time employment income with no minimum threshold. All three cards share the same 4% cash back on groceries and gas.

Is the CIBC Dividend® Visa Infinite* Card accepted at Costco Canada?

No. The CIBC Dividend® Visa Infinite* Card is not accepted at Costco Canada warehouses, since Costco Canada has accepted the Mastercard network exclusively since 2014. Costco purchases must therefore be made with another Mastercard. However, the CIBC card is accepted at all other supermarkets and grocery stores (IGA, Metro, Provigo, Maxi, Loblaws, Sobeys, Walmart), where it earns 4% cash back up to the combined annual cap. At Costco gas stations, the network may accept Visa depending on the location.