CIBC Dividend Visa Infinite Card Review

CIBC Dividend Visa

CIBC Dividend Visa Infinite Card

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CIBC Dividend Visa Infinite Card
9 / 10 Our Vote
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Pros
First-year annual fee rebate
4% cash back on gas and grocery
Cons
$99 annual fee
High income requirement
Summary

There is no scarcity of credit cards and their offers to entice customers pretty much like us who are on the lookout for the best deal. Great promotions, rates, and rewards as some benchmarks against which card users measure up a card. The Dividend Visa Infinite Card from CIBC does have many features that make it stand out from the rest. They also have a great promotion going on that gives an annual fee rebate for the first year. You get this rebate on the primary and 3 supplementary cards as a new card holder. So you could try this card just to know if this card beats your other cards and get you more rewards. You may qualify even if you have an income of $60000 as a person or at least $100000 as a household.

There are 3 categories in which you may earn rewards. To begin with, this card gives 4% cash back on gas and grocery which is the highest in the market. Very few others give that much return. If you are a Tim Hortons customer then it only gets better as you may earn 2% cash back on those purchases. You may also earn 2% on your Telus payments. Everything else gets you a 1% cash back reward. Plus, there is no limit on the total amount you could earn as cash back. Another bonus is the Visa Infinite exclusive hotels and luxury travel worldwide benefits. Check out more details by calling the 24/7 Visa concierge at 1888 853 4458 or search for your options on visaluxuryhotelcollection.com. This card also has some good travel and purchase insurance features.

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Our Review on CIBC Dividend Visa Infinite Card

CIBC Dividend Visa Infinite Card Pros

As a CIBC card member, you do enjoy several perks that come with their Dividend Visa Infinite Card.

  • You get first-year annual fee rebate for the primary and up to 3 supplementary cards as a new member. Also, control the spending limit for the authorized users you have set up on your card.
  • 4% cash back on gas and grocery is a very good deal and there is no limit on total cash back.
  • Tim Hortons coffee lovers and Telus subscribers also earn 2% cash back.
  • The purchase and travel insurance has many premium features.
  • This Visa Infinite card lets you enjoy exclusive concierge service, luxury hotels and travel all over the world. You also enjoy exclusive entertainment and dining events as a Visa Infinite cardholder.
  • Get free personalized cheques and discounts at car rentals.
  • Save time with the Visa payWave technology on this card when you pay. Even online purchases are faster with the Visa checkout option that you could sign up for ease of shopping.

CIBC Dividend Visa Infinite Card Cons

The CIBC Dividend Visa Infinite Card has some drawbacks as follows.

  • After the first year, you start paying an annual fee of $99 for the primary card which is on the higher side compared to others in the market. You also pay $30 for each additional card after the initial promotional year.
  • If you do not have $60000 personal or $100000 household income then you may not qualify for this card.
  • You may not earn 2% cash back on Telus and Tim Hortons if you don’t shop with them. What if you love your Starbucks coffee and can’t stand Tim’s Coffee? Or you are a happy Shaw customer on a 3-year contract and don’t want to switch to Telus?
  • They do not have any promotion on balance transfers.

CIBC Dividend Visa Infinite Card Overview

Annual Fee$0
Interest Rate (APR)19.99% on purchases
Balance Transfer22.99%
Cash Advance22.99%
Foreign Currency Conversion Fee2.5%
Credit ScoreGood
Otheronly optional insurance

CIBC Dividend Visa Infinite Card Features & Benefits

Some of the main features of the CIBC Dividend Visa Infinite Card are as follows.

Annual Fee

They give you a rebate for the primary card annual fee in the first year since you open a new card account. Thereafter the charge is $99 each year.

Interest Rate

They charge an APR or annual rate of interest on purchases at 19.99%

Balance Transfer

As of now, there is no promotion on balance transfers. The balance transfer interest rate is 22.99%.

Cash Advance

They charge 22.99% rate of interest annually on cash advances.

Foreign Conversion Fees

They charge a fee for all transactions that includes credits and debits using your card in a foreign currency. These foreign transactions are converted to Canadian dollars. The foreign currency conversion fee they charge is 2.5% of the amount after conversion.

Credit Score Rating

You have to be in an excellent credit rating to qualify for this card.

Additional Cards

They give a rebate on fees for supplementary cards in the first year when you are a new cardholder. You may request up to 3 cards and thereafter you pay $30 fee for each supplementary card. There is an option to set the spending limits for each authorized card user that you have set up.

Rewards

You may earn 4% cash back on grocery and gas purchases. Tim Hortons and Telus purchases also give you 2% cash back rate. Every other purchase is eligible for 1% cash back rate.

CIBC Dividend Visa Infinite Card Cash Back Calculator

CategoryRewards
Total Spending Rewards$492
Groceries:$400
Gas:$300
Restaurants:$200
Bills:$500
Travel:$150
Entertainment:$200
Pharmacy:$0
Everything else:$250

Insurance Features Of CIBC Dividend Visa Infinite Card

The CIBC Dividend Visa Infinite Card comes with premium insurance features as follows.

  • You get emergency travel medical insurance coverage when traveling out of your province or territory.
  • There is coverage for trip interruption.
  • Coverage for baggage that is lost, damaged, stolen or delayed as well as any delays in flights or baggage check is available.
  • Get loss or collision damage cover for a rental vehicle.
  • They give you common carrier accident coverage up to $500,000.
  • Extended Protection and Purchase Security Insurance

Where Can You Use CIBC Dividend Visa Infinite Card

You may use this card at all payment terminals and merchant locations that accept Visa cards. And this card has worldwide acceptance. Use the Visa payWave option to save time.

CIBC Dividend Visa Infinite Card Reward Redemption

They pay your cash back amount every year on the December statement as a credit. You may also call 1888 232 5656 at the Rewards Centre (CIBC) to check your cash back balance.

CIBC Dividend Visa Infinite Card Contact Information

  • Customer Service Number: 1800 385 2582 or 1800 465 4653.
  • Mailing address: P.O. Box 4595, Station A, Toronto, ON M5W 4X9

*Rate and product information are subject to change at any time and does not constitute financial advice. Please contact the supplier for complete details.

CIBC is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.


Resources:

https://www.cibc.com/ca/visa/dividend-visa-infinite-card.html

https://www.cibc.com/ca/pdf/card-en.pdf

https://www.cibc.com/content/dam/personal_banking/credit_cards/agreements_and_insurance/dividend-infinite-bengd-en.pdf


 

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