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The best CIBC credit cards in Canada for 2024

Natasha-M 1
Natasha Macmillan, Business Unit Director - Everyday Banking

February 20, 2024

Explore the best variety of CIBC credit cards, tailored to meet your unique needs. Compare, choose, and apply today for a card that matches your purchasing habits.

Compare Canada's best CIBC credit cards

Best CIBC credit card by category

Best CIBC credit card

featured

3.5 Ratehub rated

Best for Travel

First year reward
$579/yr

based on spending $2,200/mo after $139 annual fee

Earn rewards

1pt – 2pts / dollar earn rate

Welcome bonus

40,000 bonus points (a $400 value)

The CIBC Aventura Visa Infinite card offers great rewards multipliers for everyday purchases such as gas and groceries. Cardholders can earn 2 points for every $1 spent through the CIBC Rewards Centre, 1.5 points for every $1 spent on gas, groceries, EV charging, and drugstores, and 1 point per $1 spent on all other purchases. The CIBC Aventura Visa Infinite card provides extensive insurance coverage proving to be a great travel companion.  

Pros: 

  • Lounge access - 4 complimentary visits at over 1200 lounges globally through Visa Airport Companion Program
  • Extensive insurance coverage from mobile device insurance to emergency travel medical insurance
  • Receive a NEXUS application fee rebate (a $50 value)
  • Great welcome bonus - earn up to $1,250 in value including a first year annual fee rebate. 

Cons:

  • Other rewards cards offer higher points per spending category 
  • High income requirements may be prohibitive to some
  • Annual Fee $139

Best cash back CIBC credit card

featured

4.5 Ratehub rated

Best for Groceries & gas

First year reward
$635/yr

based on spending $2,200/mo after $120 annual fee

Earn rewards

1% – 4% earn rate

Welcome bonus

$200

Ratehub.ca take

The biggest selling point of the CIBC Dividend® Visa Infinite* is its impressive rewards on everyday essentials making it the best credit card in Canada for gas and groceries. On top of the 1% earn rate for all purchases, this card earns an industry-leading 4% cash back on both groceries and gas purchases – two of the most common spending categories for Canadian households. Thanks to CIBC’s new Cash Back on demand feature, cardholders can choose to redeem rewards at any time as a statement credit starting in increments of $25. 

Pros:

  • Significantly higher earn rates on groceries and gas than most other cards (4% cash back)
  • Flexible cash back redemption option allowing users to redeem their cash back at any time in increments of $25
  • Access to CIBC’s Pace It program, allowing you to pay off large purchases in monthly increments
  • Features an excellent digital-only welcome bonus, where new users who apply online can Earn 10% cash back welcome bonus of up to $200 (first 4 statements). Offer not available to QC residents. Terms and conditions apply.
  • Access to the Visa Infinite Program, entitling you to attend special dining events and hotel perks at participating hotels and restaurants

Cons:

  • Annual fee ($120) and personal income requirements ($60,0000) may be prohibitive
  • Insurance coverage isn’t as comprehensive as other similar rewards cards (if insurance is a priority for you, consider the cards featured on our list of Best credit cards for travel insurance)

Best balance transfer CIBC credit card

featured

13.99%

Purchase interest rate

Pay $6/mo

Based on a credit balance of $500

Annual fee

$29

Balance transfer offer: 0% promotional annual interest rate for 10 months with a 1% balance transfer fee. Terms and conditions apply. 

Ratehub.ca's take

The CIBC Select Visa shoots right to the top of our list for balance transfer credit cards. The below-average APR of 13.99% across the board on purchases, balance transfers, and even cash advances can help you save money on interest charges and make it easier to manage your credit card debt. It also offers newly-approved cardholders a great welcome bonus - Transfer your credit card balance. Get 0% interest for up to 10 months with a 1% transfer fee and a first year annual fee rebate. Conditions apply. 

With interest completely out of the equation for a limited time, you can move the balance owed on your current credit card over to the CIBC Select Visa and chip away at your debt faster and more efficiently.

The CIBC Select Visa also comes with a number of additional benefits. These include extended warranty and purchase protection, as well as access to CIBC's 24/7 customer service team.

Pros

  • Below-average APR of 13.99% across the board on purchases, balance transfers, and cash advances
  • Low $29 annual fee (which is rebated for the first year) and has a minimum household income requirement of just $15000, making it easily within reach of most Canadians
  • Welcome offer - Transfer your credit card balance. Get 0% interest for up to 10 months with a 1% transfer fee and a first year annual fee rebate.
  • Up to three free secondary cards
  • One of the few low interest cards to offer additional travel coverage in the form of up to $100,000 in common carrier accident insurance
  • Additional benefits include extended warranty, purchase protection, access to CIBC's 24/7 customer service team

Cons

  • As a low interest credit card, the CIBC Select Visa doesn’t offer much in the form of perks
  • Balance transfer offer is exclusively available to new cardholders applying online
  • You can only transfer 50% of our assigned credit limit (e.g. if you’re approved for the CIBC Select Visa with a $2,000 credit limit, you can only transfer up to $1,000 from another credit card)

Best no annual fee CIBC credit card

featured

Best for Everyday spending

First year reward
$200/yr

based on spending $2,200/mo after $0 annual fee

Earn rewards

0.5pts – 1pt / dollar earn rate

Welcome bonus

10,000 bonus points (a $100 value)

Ratehub.ca's take

The CIBC Aventura Visa is a no fee credit card that can prove to be a great travel companion. Just because there is no annual fee, it doesn't mean the card offers little to no rewards. With this card, you can earn 1 point for every $1 spent on gas, groceries, and travel through the CIBC Rewards Centres and 1 point for every $2 spent on all other purchases. 

Pros

  • Generous welcome bonus for a no fee credit card - Earn up to $100 in value for no annual fee. Offer not available to QC residents. Terms and conditions apply.
  • Ability to save 3 cents per litre on fuel at Journie Rewards gas stations
  • No annual fee

Cons

  • Limited insurance offerings included

CIBC credit cards types 

As a leading bank in Canada, CIBC offers over 20 credit cards for the diverse needs of Canadians, including some of the most popular travel rewards credit cards in the country.

Travel Rewards

CIBC offers two types of travel rewards credit cards: Aventura Visa Cards and Aeroplan Visa Cards. The four personal CIBC Aventura Visa Cards let you collect Aventura Points on all of your purchases, which are redeemable for airfare on any airlines with no blackout periods, or a number of merchandise items available on the CIBC Aventure website. Each tier comes with greater rewards, but also a larger annual income requirement and larger annual fee. If you strictly want to earn travel rewards points, you could also look at one of the three CIBC Aeroplan Visa Cards, which let you earn Aeroplan Miles for each $1 spent on your credit card. Similar to the Aventura cards, each tier comes with greater rewards and better sign-up bonuses, but also larger annual income requirements and larger annual fees. CIBC also offers special Aventura and Aeroplan cards for both students and businesses (as well as some everyday cards for them, too).

Read More:


Cash Back Rewards

On top of offering some of the most popular travel rewards credit cards, CIBC offers a variety of other credit card products with great rewards. If you’d prefer to earn cash back with each purchase you make, there are four CIBC Dividend Visa Cards to choose from - some of which offer up to 4% cash back on groceries and gas. 

Other Cards

If you tend to carry a balance, the CIBC Select Visa Card has a low interest rate of 13.99%. And finally, if you’re someone who travels south of the border often enough, you may also want to consider getting a CIBC US Dollar Visa Aventura Gold Visa Card, which will let you pay with US funds and avoid transaction fees.


CIBC Pace It

For those looking to use their CIBC credit card on a larger-scale purchase, the bank offers their Pace It program. Using this option, cardholders can pay for items of $100 or more on an installment plan of six, 12, or 24 months. The plans all carry much lower-than-average interest rates (5.99%, 6.99%, and 7.99%, respectively) and have a one-time installment fee (1.50% of the purchase amount). All you need to do is skim through your transaction history and select one with an "eligible for installments" label, then choose a plan that works best for you. It's a perfect way to manage your budget and make bigger expenses easier to handle.


CIBC Costco Mastercard

If you have a Costco membership (and use it frequently), CIBC's co-branded Costco Mastercard may be worth looking into. Using this card, customers can earn cash back on in-store and online Costco purchases, plus save when gassing up at any Costco branded station. It also offers extended warranty protection, purchase security, and mobile device insurance for any tablet or smartphone purchased with the card.


More on CIBC

The Canadian Imperial Bank of Commerce (CIBC) was founded in 1867 and is one of the leading financial institutions in Canada. In 2014, Bloomberg Markets ranked CIBC as the second strongest bank in North America and 15th strongest in the world. CIBC offers retail and business banking, wealth management and wholesale banking. With headquarters in Toronto, Ontario, and over 1,100 branches around the world, CIBC has over 45,000 employees and serves 10 million clients.

 

Natasha Macmillan, Business Director of Everyday Banking

With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read full bio

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