The CIBC Aventura® Visa Card for Business Plus is a top-tier business credit card offered by the Canadian Imperial Bank of Commerce (CIBC). Designed to meet the needs of business owners and professionals, this card provides a wide range of benefits, including travel perks, reward points, and comprehensive insurance coverage. The card's Aventura Rewards Program is particularly noteworthy, as it allows cardholders to earn Aventura Points for every dollar they spend on eligible purchases. These points can be redeemed for a variety of travel-related expenses, such as flights, hotels, and car rentals, making the CIBC Aventura® Visa Card for Business Plus an excellent choice for those who travel frequently for work.
Key Features
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High Return on Spending. Cardholders earn 1.5 Aventura Points for every $1 they spend on eligible purchases in select categories, including flights, hotels, car rentals, and gas. They can also earn 2 Aventura Points for every $1 they spend on travel booked through the CIBC Rewards Centre. All other eligible purchases earn 1 Aventura Point per $1 spent.
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Welcome Bonus. New cardholders can earn up to 70,000 Aventura Points in the first year. They'll receive 20,000 Aventura Points when they make their first purchase, plus 10,000 Aventura Points on the first purchase within the first 4 months. Additionally, they can earn 40,000 additional anniversary bonus Aventura Points when they spend $35,000 or more during the first year.
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Travel Benefits. Cardholders can rest easy with comprehensive travel coverage, including trip interruption and cancellation, flight delays, and lost baggage. They'll also enjoy access to the Visa Infinite Luxury Hotel Collection and the Visa Infinite Concierge Service.
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Purchase Assurance. Cardholders can protect their purchases by coverage and extended warranty protection for eligible products they pay for with their card. They'll also enjoy price protection, which can help them save money if the price of an eligible item drops within 60 days of purchase.
Pros and Cons
Pros
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Car Rental Insurance. Cardholders can save money on third-party car rental insurance with full coverage for rentals when they pay on their card. This can be a valuable benefit for business owners and professionals who frequently rent cars for work-related travel.
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Flexible Rewards. Cardholders can redeem their Aventura Points for a wide range of rewards, including flights, hotels, cruises, gift cards, merchandise, and statement credits. This flexibility can make it easy to find a reward that suits your needs and preferences.
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Personalized Service. Cardholders can consult with the Aventura Travel Assistant to plan a seamless trip with no extra booking fees. This can be a valuable benefit for business owners and professionals who frequently travel for work and want to save time and hassle.
Cons
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Annual Fee. The CIBC Aventura® Visa Card for Business Plus has an annual fee of $120. While this is not unusual for a premium business credit card, it's important to consider whether the benefits and rewards you'll earn will outweigh the cost of the fee.
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High Interest. The interest rate for outstanding balances on the CIBC Aventura® Visa Card for Business Plus is 19.99%. This is the industry standard interest rate, but it's important to remember that carrying a balance on your card can quickly negate any rewards or benefits you've earned.
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No Travel Medical. The CIBC Aventura® Visa Card for Business Plus does not offer travel medical coverage when you take trips out of the province. This can be a significant disadvantage for business owners and professionals who frequently travel for work and want to ensure they're protected in case of a medical emergency.
How to Apply for a CIBC Aventura® Visa Card for Business Plus
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Visit the CIBC Website. Open your web browser and go to the official website of CIBC (Canadian Imperial Bank of Commerce).
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Navigate to the Credit Cards Section. On the CIBC homepage, find and click on the "Credit Cards" section. This section is usually located in the main navigation menu or as a prominent feature on the homepage.
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Choose the Required Credit Card. In the credit cards section, browse through the available options until you find the CIBC Aventura® Visa Card for Business Plus. Click on this card to learn more about its features, benefits, and terms.
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Click "Apply Now". After reviewing the details of the CIBC Aventura® Visa Card for Business Plus, locate the "Apply Now" button or link associated with the card. This button is typically displayed prominently on the card's information page.
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Fill Out the Application Form. Once you click on "Apply Now," you will be directed to an online application form. Fill out the required information accurately and completely, including personal details such as your name, address, contact information, employment status, and income.
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Eligibility Requirements
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Residency in Canada. Applicants must be Canadian residents.
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Age Requirement. Applicants must have reached the age of majority in their province or territory.
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Good Credit Score. While exact credit score requirements can differ, approval often hinges on having a solid credit score, typically above 760.
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Minimum Household Income. Applicants usually need to show a minimum annual household income of $35,000 to be eligible for consideration.
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Small Business Ownership. You should own a small business operating in Canada.
Reasons You May Be Denied a CIBC Aventura® Visa Card for Business Plus
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Insufficient Credit Score. If your credit score doesn't meet the required threshold, your application may be denied.
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Low Income. Failing to demonstrate a sufficient annual household income of at least $35,000 could lead to rejection.
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Incomplete or Inaccurate Application. Providing incorrect or incomplete information on your application form can result in denial.
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High Debt Levels. Having significant existing debt might make you ineligible.
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Unstable Employment. Lack of steady or verifiable employment can negatively impact your application.
How to Pay Off My CIBC Aventura® Visa Card for Business Plus
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CIBC Online or Mobile Banking. Log in to your eligible credit card account through CIBC online banking or the CIBC mobile banking app. From there, you can make a payment towards your CIBC Aventura® Visa Card for Business Plus balance.
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CIBC Banking Centre. Visit a CIBC Banking Centre in person and make a payment towards your CIBC Aventura® Visa Card for Business Plus debt. A representative can assist you with the process if needed.
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Telephone Banking. Contact CIBC's telephone banking service and make a payment towards your CIBC Aventura® Visa Card for Business Plus debt over the phone.
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Recurring Bill Payments. To ensure you never miss a payment, consider setting up recurring bill payments through your CIBC online or mobile banking. This allows you to schedule automatic payments towards your CIBC Aventura® Visa Card for Business Plus debt regularly.
Editorial Opinion
The CIBC Aventura® Visa Card for Business Plus is an excellent option for business owners who prioritize travel rewards and comprehensive benefits. With a robust welcome bonus of up to 70,000 Aventura Points and a strong earning rate, this card offers significant value for businesses with frequent expenses in select categories. The flexibility to redeem points for a wide range of travel-related rewards, combined with extensive insurance coverage, makes it particularly appealing for those who travel often. However, the annual fee of $120 and the absence of travel medical insurance may be considerations for some businesses. Overall, this card stands out for its high return on spending and personalized services, making it a top choice for business professionals seeking to maximize their rewards.
Additional Resources
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Required documents
Welcome Bonus
