CIBC Dividend® Visa Infinite
Earn up to 4% cash back on groceries and gas, 2% on dining, transit, and recurring payments, plus a $250 welcome bonus. Annual fee: $120.
The CIBC Dividend Visa Infinite Card stands out for Canadians looking to maximize rewards on daily essentials. With an industry-leading 4% cash back on groceries and gas, this card is ideal for families and commuters. Cardholders also benefit from 2% back on spending at restaurants, on transit, and for recurring bill payments. All other purchases earn a flat 1% cash back.
The annual fee for this card is $120 and the interest rate is set at 21.99% for purchases and 22.99% for cash advances and balance transfers. To qualify, applicants should have a minimum personal income of $60,000 or a household income of $100,000. The credit limit varies based on creditworthiness.
How to Apply for the CIBC Dividend Visa Infinite
- Check if you meet the income and credit score requirements
- Gather your financial details and identification
- Visit the CIBC website and access the credit card application page
- Complete and submit the application form
- Await approval and, once approved, receive your card by mail
Pros of the CIBC Dividend Visa Infinite
The card’s standout feature is the 4% cash back on groceries, gas, and EV charging, making it one of the highest-earning cash back cards for these crucial spending categories in Canada.
Additionally, you can redeem your cash back rewards at any time in increments of $10, offering quick access to your earnings. Cardholders benefit from purchase protection, extended warranty, and mobile device insurance as added perks.
Cons of the CIBC Dividend Visa Infinite
A key consideration is the $120 annual fee, which might not be ideal for low spenders or occasional credit card users. The higher income requirement may also limit accessibility for some applicants.
Insurance coverage, while present, isn’t as comprehensive as those found with some travel-oriented credit cards, which could be a drawback if you prioritize travel protection.
Our Verdict
If you want to maximize cash back on everyday essentials like groceries and gas, the CIBC Dividend Visa Infinite is an excellent choice, especially for households or regular commuters. The redemption flexibility and lucrative earn rates make it a winner for big spenders.
However, if your monthly spend is lower or you don’t consistently purchase in the high-earning categories, you might find more value in a no-fee cash back card. Carefully weigh the annual fee against your expected cash back to ensure this card fits your lifestyle.
