CIBC Select Visa Card®

About CIBC Select Visa Card

A CIBC Select Visa Card is a low-interest credit card for those who prefer saving opportunities to rewards and cash back. Being an affordable credit solution, this card doesn’t feature reward programs or exclusive benefits.

For new CIBC Select Visa Card clients, CBIC has a special offer in place providing a 0% interest for up to 10 statement periods on any balances transferred and a one-time annual fee rebate.

CIBC Select Visa Card features

A CIBC Select Visa Card features a 13.99% purchase interest rate and a 13.99% cash interest rate. In addition, with a special offer for new applicants, you can get the advantage of zero interest charged for up to 10 months when transferring up to 50% of your assigned credit limit; only a 1% transfer fee will apply.

The annual fee for a CIBC Select Visa Card is $29. New applicants can get a one-time annual fee rebate. Issuance of up to 3 additional cards is free of charge.

When sending a CIBC Global Money Transfer™, you won’t have to pay transaction fees; only CIBC foreign exchange rates apply. CBIC won’t charge you interest either, provided you pay your balance by the payment due date.

With a CIBC Select Visa Card, you can get discounts for purchases at CIBC’s partners, including:

• Saving up to $0.10 per liter when purchasing fuel at participating Pioneer, Ultramar, and Chevron gas stations after linking your credit card with Journie Rewards

• Saving up to 25% on car rentals at participating Avis® and Budget® locations worldwide 

A CIBC Select Visa Card features up to $100,000 common carrier accident insurance coverage included. Additionally, you can apply for:

• Travel medical insurance to ensure coverage of unexpected expenses when traveling outside your province of residence 

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

Pros and cons

Here are the key benefits of a CIBC Select Visa Card:

• A low annual fee

• Free issuance of up to 3 additional cards

• Low-interest rates

• A 0% introductory interest rate on balance transfers 

• 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)

The drawbacks of this credit card are:

• Non-eligibility for CIBC Pace It™ Installment Plans 

• Few insurance coverages included

• The lack of exclusive privileges from Visa

• Minimum annual income requirements to apply

How to apply for a CIBC Select Visa Card

CIBC accepts online applications for CIBC Select Visa Cards. To proceed with an online application, click the “Apply now” button on the credit card description page. On the next screen, click “Yes, sign on now” if you are a CIBC client already and sign in with your CIBC Online or Mobile Banking login credentials. If you are new to CIBC, select “No, continue application” and fill out the 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

• Statement options

• Your personal annual income

• Your other household income (optional)

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

Applying for a CIBC Select Visa Card requires a minimum annual household income of $15,000.