About CIBC Dividend® Visa Card for Students
A CIBC Dividend® Visa Card for Students is an affordable credit solution for youth, with no annual fee, minimum income requirements, and a $1,000 minimum credit limit. Along with affordability, a CIBC Dividend® Visa Card for Students features unlimited cash back earning opportunities.
CIBC Dividend® Visa Card for Students features
A CIBC Dividend® Visa Card for Students features a 20.99% purchase interest rate and 22.99% cash interest rate (21.99% for Quebec residents). There is no annual fee for primary and up to 3 additional cards.
With a welcome offer for new applicants, CIBC rewards will reward you with a one-time $60 cash back on your first purchase made within the first four months. As for regular cash back earning opportunities, select categories of purchases made with your CIBC Dividend® Visa Card for Students will bring you cash back at an accelerated rate.
For purchases made at merchants classified by Visa as “grocery stores and supermarkets,” you will earn 2% cash back. For purchases made at merchants classified by Visa as “service stations or automated gas dispensers,” “local and suburban commuter transportation in Canada,” “eating places and restaurants, drinking places and fast-food restaurants,” and “recurring payments,” you will earn 1% cash back.
After you reach the annual spending thresholds, you will continue earning cash back for purchases in these categories at a regular rate of 0.5%.
Other eligible purchases made with your CIBC Dividend® Visa Card for Students will bring you cash back at a regular 0.5% rate. CIBC doesn’t set any limit on the maximum amount of cash back you can earn with your CIBC Dividend® Visa Card for Students.
Occasionally, there are special offers at CIBC allowing you to earn cash back for sending money abroad through CIBC Global Money Transfer™ at CIBC foreign exchange rates. CIBC Global Money Transfers involve no transaction fees and no interest applied, provided you pay your balance by the payment due date.
A CIBC Dividend® Visa Card for Students qualifies for CIBC Pace It™ Installment Plans, which means 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
Setting up an installment plan involves a one-time installment fee equal to 1.50% of the purchase amount.
Along with cash back earning opportunities, a CIBC Dividend® Visa Card for Students provides you with the following benefits:
Saving up to $0.10 per liter on fuel purchases at participating Pioneer, Ultramar, and Chevron gas stations with the Journie Rewards program
Free membership with SPC+ providing access to up to 30% discounts, special experiences, giveaways, and more
Insurance coverages included in a CIBC Dividend® Visa Card for Students are $100,000 common carrier accident insurance, purchase security, and extended warranty insurance. You can also add optional CIBC Payment Protector™ Insurance for Credit Cards providing coverage of your credit card payments in case of disability, job loss, critical illness, or loss of life.
Pros and cons
Here are the key advantages of a CIBC Dividend® Visa Card for Students:
A zero annual fee
Free issuance of up to 3 additional cards
No minimum annual income requirements to apply
$60 cash back on your first purchase
Eligibility for CIBC Pace It™ Installment Plans
Discounts on fuel purchases at partner gas stations
Free SPC+ membership
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)
As for the disadvantages, we can name the limited number of insurance coverages included.
How to apply for a CIBC Dividend® Visa Card for Students
Applying for a CIBC Dividend® Visa Card for Students is available online. To proceed, click the “Apply now” button on the credit card description page. On the next screen, select an option that applies to you — "Yes, sign on now” or “No, continue application.” If you are a CIBC client already, sign in using your online or mobile banking login credentials. If you are new to CIBC, fill out the form with 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)
There are no minimum annual income requirements to apply for a CIBC Dividend® Visa Card for Students.
Who is eligible for SPC+ membership with CIBC? | To qualify for SPC+ membership, you must be either an individual aged 14-19 with an eligible youth product or a full-time post-secondary student with an eligible student product. You must also have a CIBC Online Banking® or Mobile Banking® account. |
| Can authorized users redeem cash back rewards? | Only the primary holders of a CIBC Dividend® Visa Card for Students can make a cash back redemption. |
| For how long can I lock my CIBC Dividend Visa Card for Students? | If you’ve misplaced your CIBC Dividend® Visa Card, you can lock it at any time through CIBC Online or Mobile Banking for the time you need. Once you find your card, you can easily unlock it. |
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