Apply for a CIBC Credit Card, reviewed by our experts. On 13.01.2025, you have access to credit cards. Increase your chances of approval by filling out a multi-application with a free credit rating check.
Author of articles
Daria K
Update date 27.08.2024
The company offers an impressive list of 24 credit card options with various benefits and rewards you may be interested in travel, student, Costco, no annual fee, business, low interest, cash back, and newcomer. If you are unsure which CIBC credit card is the best for your needs, you can use the CIBC "Compare cards" and "Explore all cards tools." The latter lets add up to four cards to evaluate their advantages at once.
Key Features
No Annual Fees for Some Cards. This feature ensures that certain CIBC credit cards are accessible to a wide range of customers without the burden of annual fees.
Most Cards Earn Rewards. CIBC credit cards typically offer rewards programs, allowing cardholders to accumulate points or cash back on their purchases, enhancing the value of their spending.
Some Cards Have Welcome Bonuses. Certain CIBC credit cards come with enticing welcome bonuses, providing additional value to new cardholders when they sign up.
Up to $599 Annual Fee. CIBC offers a variety of credit cards with different fee structures, including options with no annual fee and others with annual fees of up to $599, providing flexibility to suit various spending habits and preferences.
Credit Cards Offered by CIBC
CIBC Aventura Visa Infinite Card. Travel rewards card with up to $1,400 in value. Earn 2 points per $1 on travel and 1.5 points per $1 on select purchases. Annual fee of $139.
CIBC Aeroplan Visa Infinite Card. Offers up to $1,400 in value in the first year. Earn accelerated points for travel and everyday spending. Annual fee of $139.
CIBC Aventura Visa Infinite Privilege Card. Premium travel card with over $2,200 in value. Earn 3 points per $1 on travel and 2 points on select purchases. Annual fee of $499.
CIBC Aeroplan Visa Infinite Privilege Card. Premium travel card with up to $2,500 in value in the first year. Earn 2 points per $1 with Air Canada and 1.5 points per $1 on select purchases. Annual fee of $599.
CIBC Aventura Gold Visa Card. Flexible travel rewards card with up to $1,400 in value. Earn 2 points per $1 on travel and 1.5 points per $1 on select purchases. Annual fee of $139.
CIBC Aventura Visa Card. No annual fee travel card offering up to 2,500 Aventura Points. Earn points on travel and everyday purchases.
CIBC Aeroplan Visa Card. No annual fee travel card offering up to $200 in value in the first year. Earn points directly with Air Canada and on select purchases.
CIBC Aeroplan Visa Card for Students. No annual fee cash back card for students. Earn cash back on Air Canada flights, gas, and recurring payments.
CIBC Aventura Visa Card for Students. No annual fee travel card for students, offering up to 2,500 Aventura Points. Earn points on travel and everyday purchases.
CIBC Dividend Visa Infinite Card. Cash back card with first-year annual fee rebate for new cardholders. Earn 4% cash back on select purchases and 2% on others. Annual fee of $120.
CIBC Dividend Platinum Visa Card. Cash back card with first-year annual fee rebate for new cardholders. Earn 3% cash back on select purchases and 2% on others. Annual fee of $99.
CIBC Dividend Visa Card. No annual fee cash back card. Earn cash back on groceries, gas, and recurring payments.
CIBC Dividend Visa Card for Students. No annual fee cash back card for students. Earn cash back on groceries, gas, and recurring payments.
CIBC Costco Mastercard. Cash back card exclusively for Costco members. Earn cash back on purchases everywhere Mastercard is accepted, including Costco.
CIBC U.S. Dollar Aventura Gold Visa Card. Earn up to 2,500 Aventura points and get an annual fee rebate for the first year. Shop across the border without currency conversion fees.
CIBC Select Visa Card. Low interest rate card with balance transfer offer. Get 0% interest for up to 10 months with a 1% transfer fee.
CIBC Aventura Visa Card for Business. Travel rewards card for businesses with over $1,800 in value. Earn 2 points per $1 on travel and 1.5 points per $1 on select purchases. Annual fee of $180.
CIBC Aeroplan Visa Business Card. Business travel card with over $1,700 in value. Earn accelerated points for business expenses and travel. Annual fee of $180.
CIBC Costco Business Mastercard. Cash back card exclusively for Costco business members. Earn cash back on purchases at Costco and elsewhere.
CIBC Aventura Visa Card for Business Plus. Business travel rewards card with over $1,800 in value. Earn 2 points per $1 on travel and 1.5 points per $1 on select purchases. Annual fee of $120.
CIBC Aeroplan Visa Business Plus Card. Business travel card with over $1,600 in value. Earn accelerated points for business expenses and travel. Annual fee of $120.
CIBC bizline Visa Card. Low interest rate card for businesses with credit limits up to $50,000. Access affordable credit and track expenses easily.
CIBC Corporate Classic Plus Visa Card. Business expense management card with automatic savings and reporting tools. Annual fee of $20 per card.
CIBC Classic Visa Card. No annual fee card with purchase protection and common carrier accident insurance.
CIBC Classic Visa Card for Students. No annual fee card for students with purchase protection and common carrier accident insurance.
Pros and Cons
Pros
Extensive Range of Products. CIBC offers a diverse range of credit cards catering to various needs and preferences, including travel rewards, cash back, and low-interest options.
Rewards and Benefits. Many CIBC credit cards offer rewards programs that allow cardholders to earn points or cash back on their purchases. These rewards can be redeemed for travel, merchandise, statement credits, or other perks, enhancing the overall value of using the card.
No Annual Charge and Low-Interest Options. Some CIBC credit cards come with no annual fees, making them a cost-effective choice for cardholders who want to avoid ongoing expenses. Additionally, CIBC provides low-interest rate options for those who may carry a balance from month to month.
Cons
Overlimit, NSF, and Other Fees May Apply. While some CIBC credit cards come with no annual fees, cardholders may still incur fees for exceeding their credit limits, making late payments, or having insufficient funds in their accounts.
High Purchase and Cash Advance Rates. The purchase and cash advance rates on CIBC credit cards can be relatively high, especially for cardholders who carry balances or use their cards for cash advances.
Rates Increase for Missed Payments. CIBC credit card rates may increase if cardholders fail to make required payments by the due date, leading to higher interest charges over time.
How to Choose a CIBC Credit Card
Assess Your Spending Habits. Evaluate your typical expenses to determine which categories you spend the most on, such as groceries, travel, or dining.
Consider Your Goals. Determine what you want to get out of a credit card, whether it's earning travel rewards, cash back, or building a credit history.
Compare Card Features. Review the features of various CIBC credit cards, including rewards programs, annual fees, interest rates, welcome bonuses, and additional perks like travel insurance or airport lounge access.
Calculate Potential Rewards. Estimate how much you could earn in rewards or cash back based on your spending habits and compare it to any associated fees to ensure the card aligns with your financial goals.
Check Eligibility and Apply. Once you've chosen a card that meets your needs, check the eligibility requirements and apply online or in person, being mindful of any documentation or income criteria needed for approval.
How to Apply for a CIBC Credit Card
Visit the CIBC Website. Open your web browser and navigate to the official website of CIBC (Canadian Imperial Bank of Commerce) at www.cibc.com.
Navigate to the Credit Cards Section. Once on the CIBC homepage, locate the "Credit Cards" tab in the top menu bar. Hover over or click on this tab to reveal a dropdown menu.
Click on "Explore Credit Cards". In the dropdown menu, you should see an option related to credit cards. Click on this option to proceed to the credit card section of the website.
Browse Available Credit Cards. On the credit card page, you'll find a variety of CIBC credit cards to choose from. Take your time to explore the different options available, considering factors such as rewards programs, annual fees, and interest rates.
Select a Credit Card. Once you've identified a CIBC credit card that suits your needs and preferences, click on the card to learn more about its features, benefits, and terms.
Click "Apply Now". After reviewing the details of the selected credit card and ensuring it aligns with your requirements, locate the "Apply Now" button or link on the card's information page. Click on it to initiate the application process.
Fill Out the Application Form. You will be directed to an online application form. Provide accurate information as requested, including personal details such as your name, address, date of birth, contact information, employment status, income, and Social Insurance Number (SIN).
Eligibility Requirements
Canadian Citizenship or Residency. Applicants must be Canadian citizens or residents. If you have temporary residence status, your application may take longer to review.
Age of Majority. You must be the age of majority in your province, which is typically 18 or 19 years old.
Good Credit Score. A good credit score is generally required for approval. Your credit history and score are evaluated to assess your creditworthiness.
No Recent Bankruptcy. Applicants should not have filed for bankruptcy within the past 7 years. Bankruptcy history can negatively impact your creditworthiness.
Minimum Annual Income Requirement. Most CIBC credit cards have a minimum annual income requirement that applicants must meet to be eligible for approval. The income requirement varies depending on the specific card you're applying for and may range from a few thousand dollars to higher amounts for premium cards.
Reasons You May Be Denied a CIBC Credit Card
Poor Credit History. A history of missed payments, high debt levels, or bankruptcy can lead to denial.
Insufficient Income. If your income doesn't meet the card's minimum requirement, you may be denied.
High Debt-to-Income Ratio. Having too much-existing debt compared to your income can signal financial risk.
Limited Credit History. Banks prefer applicants with a proven track record of responsible credit use.
Errors on Application. Incorrect or incomplete information on your application can result in denial.
How to Pay Off My CIBC Credit Card Debt
You may set pre-authorized payments on your card by calling the credit card service or signing in to online banking and transferring funds from the deposit accounts to your card. To verify that the credit card is linked to your debit card, check the "My Accounts" page for a "Link Account" option next to the card.
Register your credit card as a payee through your profile online or call 1-800-465-2422. Once you have registered, you can make payments online via mobile, telephone banking, or ATMs. Also, it is possible to send your payments through the mail.
Editorial Opinion
CIBC offers a wide range of credit cards tailored to meet various financial needs and lifestyles. Their lineup includes cards that cater to travel enthusiasts, cash back earners, students, and those looking for low-interest options. For frequent travelers, the CIBC Aventura Visa Infinite card stands out with its flexible points redemption for flights, hotels, and merchandise, complemented by travel insurance and airport lounge access. The CIBC Dividend Visa Infinite card appeals to cash back seekers with its competitive rewards on everyday purchases like groceries and gas. Students can benefit from the CIBC student credit cards, which offer rewards and financial tools tailored to their needs. Additionally, CIBC provides specialized cards like the CIBC Air Canada AC Conversion Visa Prepaid Card for travelers needing foreign currency flexibility. Overall, CIBC credit cards offer a range of benefits, rewards, and financial management tools designed to enhance the financial well-being of their diverse customer base.
The payment due date is 21 days from the statement date. When you carry a balance, the due date will be extended by five days in the following month.
How do I activate my new CIBC credit card?
Sign on to CIBC mobile banking or visit the website. Select "Activate Card" from the Credit section of "My Accounts" online or from the main menu in the mobile app, and follow the steps to activate.
What should I do if my CIBC credit card is lost or stolen?
If you have misplaced your CIBC credit card, you can lock it online or at the mobile app; also, you can report and replace the card if it was stolen. Select "Manage My Card" on the page of your card details and follow the steps. If you notice any unauthorized transaction or your card has been compromised, notify your bank immediately. You can contact a nearby CIBC office or call from Canada or the U.S. at +1 (800) 663-45-75.
