CIBC
4% cash back on groceries and gas, 1% on all purchases, $120 annual fee, $60,000 income requirement. Redeem cash anytime and enjoy premium insurance benefits.
The CIBC Dividend Visa Infinite card stands out in Canada with its market-leading 4% cash back on groceries and gas, making it a preferred choice for everyday spending. The card comes with an annual fee of $120 and requires a minimum personal income of $60,000. Purchases earn 1% back, while essential categories like groceries and gas benefit from the highest rate. Cardholders can redeem their cash back on-demand, starting at just $10, providing more flexibility than most competitors.
How to Apply: Step by Step
To apply for the CIBC Dividend Visa Infinite, gather your financial details and ensure you meet the $60,000 minimum income. Visit the application page and complete the online form. Submit required identification documents for verification. Upon approval, your card will arrive in the mail, and you can start earning rewards immediately. Remember to activate the card and enroll in online banking to manage your cash back.
Key Advantages
The card’s strength lies in its high 4% cash back for groceries and gas, which benefits most Canadian families. Redemption flexibility means you’re not locked into annual or monthly schedules—you can access rewards at your convenience. Additional value is provided through comprehensive insurance, including travel emergency medical and car rental coverage. Exclusive perks, such as Visa Infinite privileges, further enhance the experience.
Important Disadvantages
The primary drawback is the relatively high annual fee, which may deter users with lower monthly spending. Another consideration is the income eligibility, which restricts access for some applicants. Rewards rates on non-essential purchases are lower at 1%, and there is a cap on annual bonus earnings. If insurance coverage is a top priority, some competitors may offer more robust packages.
Verdict: Is It Worth It?
The CIBC Dividend Visa Infinite is ideally suited for Canadians spending heavily on groceries and gas who want premium insurance and the freedom to redeem cash back anytime. Its high earning rates and flexible redemption set it apart, though the annual fee and income requirement may not work for everyone. If you’re looking for uncomplicated rewards with a focus on maximizing everyday purchases, this card is a strong, reliable option.
