What CIBC credit cards are and who offers them
CIBC (Canadian Imperial Bank of Commerce) is a major Canadian bank that issues credit cards directly to customers. CIBC offers several card products, each with different rewards structures, annual fees, and features. The cards range from no-fee options to premium cards with travel benefits and higher spending rewards.
CIBC credit cards are issued by the bank itself, not through a third-party processor. This means your account is held directly with CIBC, and you manage it through their online banking portal or mobile app. If you already bank with CIBC, adding a credit card to your account is straightforward; if you don't, you can open both a chequing account and a credit card at the same time.
The main CIBC credit card products include the Costco Mastercard (co-branded with Costco), the CIBC Dividend Visa cards (which return a percentage of spending as cash back), the CIBC Aeroplan cards (which earn travel points), and the CIBC Aventura cards (which offer flexible rewards). Each card targets a different spending pattern and lifestyle.
Key Takeaways
- CIBC offers multiple credit card products, including no-fee cards, cash-back cards, and travel rewards cards, so the right choice depends on how you spend and what benefits matter to you.
- The Costco Mastercard has no annual fee but is only available to Costco members, while CIBC Dividend cards return 1% to 4% cash back depending on the card tier.
- Travel-focused cards like CIBC Aeroplan and Aventura earn points on every purchase, but many charge an annual fee that you need to offset with spending.
- You can open a CIBC credit card online or in branch, and the bank will run a credit check as part of the approval process.
- CIBC credit cards are linked to your online banking account, so you can pay your bill, check your balance, and dispute transactions through the same portal you use for your chequing account.
CIBC Dividend cards: cash back on everyday spending
The CIBC Dividend Visa line includes three tiers: the standard Dividend Visa (no annual fee), the Dividend Visa Infinite (annual fee applies), and the Dividend Visa Infinite Privilege (higher annual fee). Each tier returns a percentage of your spending as cash back, credited directly to your account.
The no-fee Dividend Visa returns 1% cash back on all purchases. The Infinite version returns 1% on most purchases but 2% on groceries and gas, and the Privilege tier returns up to 4% on groceries and gas, 2% on dining and entertainment, and 1% on everything else. The higher-tier cards charge annual fees ($120 and $300 respectively), so you need to spend enough in the bonus categories to make the fee worthwhile.
Cash back is not redeemable for travel or merchandise — it appears as a credit on your statement, reducing the amount you owe. This makes it straightforward to use: you don't need to track points or book through a specific portal. If you pay your bill in full each month, the cash back is pure savings.
CIBC Aeroplan and Aventura cards: points-based rewards
CIBC's Aeroplan cards earn points toward flights and travel with Air Canada and partner airlines. The standard Aeroplan card has no annual fee and earns 1 point per dollar spent. The Aeroplan Infinite card charges an annual fee but earns 1.5 points per dollar and includes travel insurance, airport lounge access, and other premium benefits.
The CIBC Aventura cards work differently: they earn points that you can redeem for flights, hotels, car rentals, or cash. Like Aeroplan, Aventura has a no-fee version (1 point per dollar) and premium versions with higher earning rates and annual fees. Aventura points are more flexible because you're not locked into one airline or travel partner.
Both programs require you to redeem points through their online portals. Points do not expire as long as your account remains open and active. If you close the card, you typically have a grace period to redeem remaining points before they are forfeited. The value of a point varies depending on what you book and when you redeem, so the effective return on your spending is not fixed.
The Costco Mastercard: no annual fee for members
The CIBC Costco Mastercard is available only to Costco members and has no annual fee. It returns 2% cash back on Costco purchases (in-warehouse and online), 1% on gas at Costco, and 0.5% on all other purchases. The cash back is credited to your account monthly.
This card is straightforward if you shop at Costco regularly. Because there is no annual fee, you break even when ready on the 2% return on Costco purchases. The main limitation is that you must be a Costco member to hold the card, and membership itself costs money ($60 per year for a Gold Star membership).
The Costco Mastercard is a Mastercard, not a Visa, so it is accepted everywhere Mastercard is accepted. You can use it outside Costco for the 0.5% return, but the card's real value is in the 2% return on your Costco spending.
How to open a CIBC credit card
You can open a CIBC credit card online through the bank's website, through the CIBC mobile app, or in person at a CIBC branch. The online process is fastest: you provide your personal information, income, and employment details, and CIBC runs a credit check. Most decisions are made within minutes.
If you already have a CIBC chequing or savings account, the process is even faster because CIBC already has your identity verified. If you don't have an account, you will need to open one at the same time, which adds a few steps but can be done in the same session.
CIBC will ask for your Social Insurance Number (SIN), date of birth, address, and employment information. They will also ask about your annual income and whether you have other credit cards or loans. This information is used to determine your credit limit and assess your ability to repay. Once approved, your card is usually mailed within 5 to 10 business days.
Understanding credit limits and interest rates
Your credit limit is the maximum amount you can charge to the card. CIBC sets this based on your credit score, income, and credit history. You can request a limit increase after you have held the card for a few months and made on-time payments. Requesting an increase may trigger a hard credit inquiry.
CIBC credit cards charge interest on balances you don't pay in full by the due date. The interest rate (called the Annual Percentage Rate, or APR) varies by card and by your creditworthiness. Premium cards like the Dividend Infinite often have lower rates than no-fee cards. You can find the exact rate for your card in your cardholder agreement or by logging into your CIBC online banking account.
If you carry a balance, interest accrues daily on the unpaid amount. The best way to avoid interest is to pay your full statement balance by the due date each month. If you can't pay in full, paying more than the minimum payment reduces the interest you owe and helps you pay off the balance faster.
Managing your CIBC credit card account
Once your card arrives, you set up it through the CIBC app or website. You then set up a payment method — you can pay from a CIBC account, another bank account, or by cheque. Most people set up automatic payments so the full balance or a fixed amount is paid on the due date each month.
You can view your balance, transactions, and rewards (cash back or points) anytime through CIBC online banking or the mobile app. You can also dispute a transaction, report a lost or stolen card, or request a credit limit increase through the same portal. If you have questions, CIBC customer service is available by phone, email, or through the app.
Your statement is generated monthly and shows all transactions, the amount due, and the due date. You have at least 21 days from the statement date to pay. If you miss a payment, CIBC will charge a late fee and report the missed payment to the credit bureaus, which can lower your credit score.
Comparing CIBC cards to other banks
CIBC is one of several Canadian banks offering credit cards. Other major issuers include TD, RBC, Scotiabank, and BMO, each with their own rewards programs and card tiers. The best card for you depends on your spending habits, whether you value cash back or points, and how much you are willing to pay in annual fees.
If you spend heavily on groceries and gas, a CIBC Dividend card with a higher tier may offer better returns than a competitor's card. If you travel frequently and want airline points, CIBC Aeroplan competes directly with similar programs from other banks. If you shop at Costco, the CIBC Costco Mastercard is the only card that offers 2% back at Costco, so it has no direct competitor.
The key comparison is total value: annual fee plus rewards earned on your typical monthly spending. If you spend $2,000 per month on groceries and gas, a card that returns 2% in those categories earns $480 per year, which easily covers a $120 annual fee. If you spend $500 per month on groceries and gas, the same card may not be worth the fee.
Frequently Asked Questions
Do I need to be a CIBC customer to get a CIBC credit card?
No, but it makes the process faster. If you don't have a CIBC account, you can open a chequing account and a credit card at the same time, either online or in branch. If you already bank with CIBC, you can add a credit card to your existing account without opening a new account.
What happens if I miss a payment on my CIBC credit card?
CIBC will charge a late fee (the amount varies by card) and report the missed payment to the credit bureaus. This will lower your credit score. If you miss a payment, contact CIBC as soon as possible to make a payment and ask about waiving the late fee — many banks will waive one late fee if you have a good payment history.
Can I transfer a balance from another credit card to a CIBC card?
Yes, some CIBC cards offer balance transfer options, usually with a promotional interest rate for a limited time. You would need to contact CIBC to request a balance transfer, and they will send a cheque or transfer funds directly to your other bank. Balance transfers may carry a fee (usually 1% to 3% of the amount transferred).
How do I redeem cash back or points from my CIBC credit card?
Cash back from Dividend cards is automatically credited to your account each month — you don't need to do anything. Points from Aeroplan or Aventura cards are redeemed through the online portal: log in, select the reward you want (flight, hotel, cash, etc.), and complete the booking. Points do not expire as long as your account is active.
What is the difference between a Visa and a Mastercard from CIBC?
CIBC issues most of its cards as Visa, except for the Costco Mastercard. Visa and Mastercard are accepted at nearly all merchants, so the choice between them rarely matters. The real difference is in the rewards program and annual fee, not the card network itself.