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CIBC bizline® Visa Card
Credit cards

CIBC bizline® Visa Card

Updated 01.12.2022

About CIBC bizline® Visa Card

A CIBC bizline® Visa Card is an affordable credit solution for businesses providing low interest rates, zero annual fees, and up to a $50,000 credit limit. This credit card is a good option for small to medium-sized business owners willing to improve their cash flow.

CIBC bizline® Visa Card features

A CIBC bizline® Visa Card features competitive variable interest rates — CIBC Prime plus 1.5% for purchases and CIBC Prime plus 1.5% for cash advances. There is no annual fee for a CIBC bizline® Visa Card, and issuing up to 9 additional cards is free of charge.

Based on your available credit and available cash, you can get instant access to up to $1,000 daily in cash advances. In case of a lost or stolen card, you can request up to $5,000 in emergency cash advances.

As a CIBC bizline® Visa Cardholder, you can use CIBC Convenience Cheques on your credit card account. Convenience cheques are subject to available credit and available cash.

With a CIBC bizline® Visa Card, you can get the advantage of the Visa SavingsEdge program providing a range of discounts as credits on future account statements.

To help you manage your CIBC bizline® Visa Card credit card activity, CIBC provides you with access to CIBC CreditSmart. With this set of tools, you can get timely alerts on your spending, organize your finances, and receive notifications of potential unauthorized use of your card.

A CIBC bizline® Visa Card features up to $100,000 common carrier accident insurance available to you as the primary cardholder, your spouse, and dependent children. 

Pros and cons

The benefits of a CIBC bizline® Visa Card are:

  • A zero annual fee

  • Free issuance of up to 9 additional cards

  • Low interest rates

  • Up to $50,000 credit limit

  • Access to both cash advances and CIBC Convenience Cheques

  • Access to CIBC CreditSmart tools

  • Online and mobile banking features for convenient credit card account management

  • Contactless payment available through Apple Pay®, Google Pay™, and Samsung Pay®

  • Credit card protection capabilities (the Mastercard Zero Liability Protection policy and fraud alerts)

Here are the drawbacks to be aware of:

  • Only one insurance coverage option included

  • Minimum annual income requirements to apply

How to apply for a CIBC bizline® Visa Card

CIBC accepts online applications for a CIBC bizline® Visa Card. To proceed, hit the “Apply now” button on the credit card description page. On the next screen, the system will ask if you are a CIBC client already. If yes, click "Yes, sign on now” and sign in with your CIBC Online or Mobile Banking login credentials. If no, select “No, continue application” and fill out the online application form with the following details:

  • Your first name

  • Your last name

  • Your date of birth

  • Your email

  • Your phone number

  • Your address 

  • Your living situation (rent, own/buying, live with parents, room or board, or other)

  • How long you have lived at the specified address

  • Your social insurance number

  • Your job category

  • Your personal annual income

  • Your other household income (optional)

  • Your housing payments (monthly rent, mortgage, and condo fees)

  • The name of your business

  • Your business phone number

  • Your business address

  • Your business details (including a business type, business number, number of principal owners, percentage of business you own, number of employees, and place of incorporation)

  • Whether your business is a registered charity

  • Your start-up date

  • Your line of business

  • The financial institution where your business bank account is 

  • Your last fiscal year end date

  • Your business’s financial details (including total outstanding business debt, total available credit, gross annual revenue or sales, and annual after-tax profit or loss)

  • Statement options

To qualify for CIBC bizline® Visa Card, you must have a minimum annual income of $350,000.

When do cash advances start bearing interest?

Cash advances bear interest from the date of withdrawal from your credit card account.

How do I order CIBC Convenience Cheques?

You can order CIBC Convenience Cheques by calling CIBC Card Services at 1-800-465-4653.

How to start saving with Visa SavingsEdge?To start using the benefits of the Visa SavingsEdge automated discount program, you need to enroll your CIBC bizline® Visa Card at the Visa SavingsEdge website.
Rate
i

Effective interest rate on the product

1.5%

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