CIBC Dividend® Visa* Card
3.5 Ratehub rated
Best for Everyday spending
Cash back
Card highlights
Annual fee
Number of perks & insurances
Ratehub’s review
Natasha Macmillan
The CIBC Dividend Visa is a no-fee credit card offers unlimited cash back and boosted cash back earnings for groceries, transportation, electric vehicle charging and bill payments. The card also offers a promising low-interest rate offer for a limited period of time.
Pros
- No annual fee
- Cash back rewards: The boosted earnings on groceries and gas have fairly high annual limits. The base earn 0.5% cash back rate is unlimited, although you can find higher cash back rewards elsewhere.
- Low interest rate offer: Earn 9.99% Purchase and 20.99% Cash annual interest rate for 10 months. Offer not available to QC residents. Terms and conditions apply.
- Flexible redemption: redeem cash back rewards at any time so long as you have at least $25 in cash back
Cons
- Low cash back earn rate: The 0.5% base earn rate for everything other than groceries, gas, EV charging and recurring bills is quite low.
- Spending limits: the bonus cash back on groceries applies to the first $20,000 spent annually
Rewards & bonuses
See what you could earn based on how you spend.
Earn rates
2%
On eligible grocery purchases!†*
1%
On eligible gas, EV charging, transportation, dining purchases and recurring payments†*
0.5%
On all other purchases†*
Monthly spending caps apply where shown. Rewards are earned on eligible purchases only, see the card’s terms for full details.
Your earning potential
First year reward
Based on spending $2,200/mo after $0 annual fee
Second year reward
Based on spending $2,200/mo after $0 annual fee
These numbers are based on estimations and the calculation breakdown below.
Adjust your spending
First year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- First year reward
Second year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- Second year reward
† Estimate calculated by Ratehub.ca and is based on current offers and a monthly spend of $2,200. It is for illustrative purposes only.
Perks & insurance
Perks and insurance coverage included with the card.
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
| Insurance | Details | |
|---|---|---|
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Not included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Not included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Details & eligibility
Fees
- Annual fee
- $0
Rates
- Purchase interest
- 20.99%
- Balance transfer rate
- 22.99%
- Cash advance rate
- 22.99%
Type
- Provider
- CIBC
- Card type
- Cash back
- Payment network
- VISA
Eligibility
- Minimum personal income
- $15,000
- Minimum household income
- $15,000
- Minimum credit score
- 660+