CIBC Dividend Visa Infinite Card

The CIBC Dividend Visa Infinite Card is one of Canada’s leading cash back credit cards thanks to its 4% return on gas and groceries.

Bonuses & Fees

Currently there’s no welcome bonus on the CIBC Dividend Visa Infinite Card.

Often, you’ll find offers for 10% cash back on all purchases in the first three months, up to $200 total cash back on $2,000 spent. It would be best to wait for that promotion to return before applying for this card.

The annual fee of $120 is waived in the first year. You can take the card for a spin at no cost before deciding whether to commit long-term, with the option to downgrade to the no-fee version if you’d prefer.

Supplementary cardholders come at a cost of $30 apiece.

Earning Rewards

The CIBC Dividend Visa Infinite offers the following earning rates:

• 4% cash back on gas and groceries
• 2% cash back on transportation, dining, and recurring payments
• 1% cash back on all other purchases

These are some of the most useful categories for bonus rewards because they typically make up the majority of most Canadians’ everyday purchases.

While other cards may offer similar rewards but with lower annual fees or higher spending limits, none have the same overall mix of category bonuses.

If you’re looking for high rates on groceries, gas, and restaurants, don’t want to pay annual fees for more than one premium card, and can’t use American Express where you shop, the CIBC Dividend Visa Infinite is the total package.

Redeeming Rewards

With CIBC’s cash back cards, the primary cardholder may redeem cash back at any time during the year, provided they have a minimum cash back balance of $25 at the time the redemption request is made.

That’s a relatively flexible policy compared to many other cash back credit cards on the market, some of which only allow you to claim your cash back earnings once a year.

Perks & Benefits

As is typical for credit cards that earn cash back instead of travel rewards, the CIBC Dividend Visa Card comes with a limited set of perks.

The only notable benefit is the ability to save up to 10 cents per litre at Chevron, Ultramar, and Pioneer gas stations when you link your card with the Journie Rewards gas loyalty program.

Insurance Coverage

Despite not being a travel rewards credit card, the CIBC Dividend Visa Infinite actually comes with a fairly high level of emergency travel medical insurance: $5,000,000 of coverage on the first 10 days of an out-of-province trip if you’re aged 64 or lower.

The card also boasts $500,000 of Common Carrier Accident insurance, as well as car rental theft/damage insurance on vehicles up to $65,000 MSRP.

In addition, it offers extended warranty (doubling the manufacturer’s standard warranty, up to one additional year) and purchase protection (against accidental damage or theft within 90 days).