In the expansive realm of credit cards, the CIBC Dividend Visa Infinite Card shines as a top-tier cash back card designed to maximize savings and provide exclusive perks. In this comprehensive guide, we will delve into the card’s main features, eligibility criteria, benefits, pros and cons, the application process, and ultimately answer the crucial question: Is the CIBC Dividend Visa Infinite Card worth it?

Key Information About the Card

A first-year annual fee refund is offered to new cardholders, covering up to three authorized users in addition to the primary cardholder. This enticing offer sets the stage for a rewarding experience from the outset.

Eligibility criteria

The CIBC Dividend Visa Infinite Card requires a minimum yearly income of $60,000 for individuals and $100,000 for households to be eligible. This criterion ensures that the card is accessible to those with a stable financial standing.

Fees and interest rates

• Annual fee: $120 (first year rebated)
• Additional cards: $30 each (first year rebated for up to 3 cards)
• Purchase interest rate: 20.99%
• Cash interest rate: 22.99% (non-Quebec residents) / 21.99% (Quebec residents)

Cash back rewards

The card offers a tiered cash back structure:

• 4% cash back: Gas, electric vehicle charging, and groceries.
• 2% cash back: Transportation, dining, and recurring payments.
• 1% cash back: Everything else.

Maximum rewards

Enjoy the flexibility of earning cash back with no upper limit, allowing cardholders to accumulate rewards at their own pace.

Accolades

The CIBC Dividend Visa Infinite Card has earned prestigious awards, including the Best Cash Back Credit Card for 2023 and 2022 by Milesopedia, and several recognitions from Rewards Canada.

Benefits of the CIBC Dividend Visa Infinite Card

• Redeem anytime: CIBC Online Banking and the CIBC Mobile Banking App give cardholders the flexibility and convenience of redeeming their cash back whenever they want.
• Insurance coverage: The card comes with valuable insurance benefits, including Mobile Device Insurance and Out-of-Province Emergency Travel Medical Insurance, enhancing the overall cardholder experience.
• Gasoline savings: By connecting the card to Journie Rewards, customers can get real gasoline savings of up to 10 cents per litre at participating petrol stations.
• Exclusive offers: Enjoy exclusive perks such as hotel benefits, unique dining events, and 24-hour complimentary concierge services through the Visa Infinite program.
• Foreign money transfers: This is an affordable option for foreign transactions because cardholders can send money to more than 120 countries at no cost.
• Discounts on car rentals: When using the Dividend card to pay for your rental car at participating Avis and Budget outlets globally, you can receive up to 25% off, providing extra savings for travelers.

Pros of the CIBC Dividend Visa Infinite Card

• Lucrative cash back: The tiered cash back structure allows users to earn substantial rewards on their everyday spending.
• Welcome offer: The first-year annual fee rebate for the primary cardholder and authorized users is a generous incentive.
• No maximum limit: The absence of a cap on cash back rewards provides unlimited earning potential for cardholders.
• Recognized excellence: Multiple awards from reputable sources validate the card’s status as a top cash back option.

Cons of the CIBC Dividend Visa Infinite Card

• Annual fee after the first year: While the first-year annual fee is rebated, users will need to consider the annual cost in subsequent years.
• Interest rates: The cash interest rates, especially for non-Quebec residents, are relatively high, requiring careful consideration for those who may carry a balance.
• Minimum income requirement: The card may not be accessible to individuals with incomes below the specified thresholds.

How to apply?

The CIBC Dividend Visa Infinite Card application process is simple and takes about five minutes. In as little as sixty seconds, potential cardholders can apply online and get a response.

• 1. Visit the site
• 2. Provide the necessary personal and financial information.
• 3. Submit the application and await the prompt response.

Is the CIBC Dividend Visa Infinite Card Worth It?

In weighing the pros and cons, the CIBC Dividend Visa Infinite Card emerges as a compelling option for those seeking robust cash back rewards and exclusive perks. The welcome offer, unlimited cash back potential, and various additional benefits make it an attractive choice for eligible individuals.

However, potential cardholders should carefully consider factors such as the annual fee, interest rates, and income requirements. If the card aligns with your spending habits and financial goals, the rewards and benefits it offers make it a worthy contender in the competitive landscape of cash back credit cards.

In conclusion, the CIBC Dividend Visa Infinite Card has the potential to unlock significant savings and enhance the overall financial experience for eligible users. To explore the full spectrum of benefits and apply for this cash back powerhouse, click the button below.