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CIBC Classic Visa Card®
Credit cards

CIBC Classic Visa Card®

Updated 01.12.2022

About CIBC Classic Visa Card

A CIBC Classic Visa Card is a no-fee credit card with valuable insurance coverage included. This card doesn’t feature cash back or reward earning opportunities, just the basic credit card features. 

CIBC Classic Visa Card features

A CIBC Classic Visa Card provides a 20.99% purchase interest rate and 22.99% cash interest rate (21.99% for Quebec residents).

There is no annual fee for a CIBC Classic Visa Card. Issuance of up to 3 additional cards is free of charge.

With a CIBC Classic Visa Card, you can enroll in the Journie Rewards program and save up to $0.10 per liter on fuel purchases at participating Pioneer, Ultramar, and Chevron gas stations.

CIBC Classic Visa Cardholders can send money internationally at CIBC foreign exchange rates through CIBC Global Money Transfer™ with no transaction fees or interest applied, provided you pay your balance by the due date.

Just like most CIBC credit cards, a CIBC Classic Visa Card is eligible for CIBC Pace It™ Installment Plans. With CIBC Pace It™, you can break up your purchases of $100 and more into installment plans at lower interest rates:

  • 4.99% for a 6-month plan

  • 5.99% for a 12-month plan

  • 6.99% for a 24-month plan

A one-time installment fee for setting up an installment plan is 1.50% of the purchase amount.

A CIBC Classic Visa Card has up to $100,000 common carrier accident insurance, purchase security, and extended protection insurance included. Common carrier accident insurance coverage is automatically available to you as the Primary Cardholder, your spouse, and dependent children. Purchase security insurance provides 90-day repair, replacement, or reimbursement coverage for lost, stolen, or damaged items purchased with your CIBC Classic Visa Card. With the extended protection insurance, you can extend the original manufacturer’s warranty by up to 1 additional year. Additionally, you can apply for:

  • Travel medical insurance providing coverage for unexpected expenses when traveling outside your province of residence 

  • CIBC Payment Protector™ Insurance for Credit Cards providing coverage for your credit card payments in case of disability, job loss, critical illness, or loss of life.

Pros and cons

The advantages of a CIBC Classic Visa Card are:

  • A zero annual fee

  • Free issuance of up to 3 additional cards

  • Discounts on fuel purchases at partner gas stations

  • Eligibility for CIBC Pace It™ Installment Plans 

  • Zero transaction fees for foreign currency purchases

  • No interest on a CIBC Global Money Transfer if paying your balance by the payment due date

  • Benefits from partner integrations

  • 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 disadvantages to be aware of:

  • No welcome offers

  • No cash back or reward-earning opportunities

  • Few insurance coverages included

  • Minimum annual income requirements to apply

How to apply for a CIBC Classic Visa Card

You can apply for a CIBC Classic Visa Card online — just hit the “Apply now” button on the credit card description page. On the next screen, specify if you are a CIBC client already and select an option that applies to you: "Yes, sign on now” or “No, continue application.”

If you choose to proceed as a new client, be ready to provide the following information:

  • 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

  • Statement options

  • Your personal annual income

  • Your other household income (optional)

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

To qualify for a CIBC Classic Visa Card, you must have a $15,000 minimum annual income.

How detailed is the transaction history?To see detailed information about a specific transaction made with your CIBC Classic Visa Card, just click on it in online or mobile banking. Once you do, you will see additional merchant details, including merchant contact details and address.

Can authorized users pay for the CIBC Global Money Transfer?

According to the CIBC legal disclaimers, only primary cardholders can pay for the CIBC Global Money Transfer™ service using their credit card account.
Can I keep track of my credit record?With credit report alerts provided by Equifax Canada, you can stay updated about any changes to your personal credit report, so you're aware of any unusual activity.
Rate
i

Effective interest rate on the product

21.99% - 22.99%

Other Credit cards of Canadian Imperial Bank Of Commerce (CIBC)

Financial product
Amount
Rate
CIBC Costco® Mastercard®Canadian Imperial Bank Of Commerce (CIBC)
19.75% - 21.49%

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