If you’re a student, student credit cards are a great thing to take advantage of. As long as you’re smart about it (and don’t make any of these credit card mistakes), a student credit card is a great way to build credit and set yourself up with some solid credit history.

The CIBC Dividend Student Visa is not only a student card, but it is also a cash back card, allowing you to build your credit and earn rewards at the same time. Here's what it offers.

Earning cash back rewards with the CIBC Dividend Student Visa

The CIBC Dividend Visa Card for Students will reward you with a lot of cash back on your basics. Here's what it earns:

• 2% cash back on eligible groceries
• 1% cash back on eligible gas, EV charging, transportation, recurring bills, and dining
• 0.5% on all other purchases

That's a lot of categories that are offering bonus rewards. The base earn rate leaves a little to be desired, but that's largely offset by all the categories.

As to redeeming your cash back, you can request a statement credit once you have accumulated $25 in cash.

4 benefits to the CIBC Dividend Visa Card for Students

On top of the cash back, here are some other things this student credit card brings to the table.

1. Free SPC membership

When you're a student, getting an SPC card is an excellent way to save money when shopping. But a membership also costs $11.99 per year.

But as part of having any CIBC student card, a membership is included for free.

2. Redeem cash back on demand

Many cash back cards only dish out your rewards once per year, as a statement credit, and not at a time of your choosing.

But here, you can redeem your rewards as a statement credit anytime that you like, so long as you've earned at least $25 in cash.

3. No annual fee

This tidy little package comes with no annual fee, which is perfect if you're a student. It's one less fee you'll have to pay.

4. Easy to earn welcome bonus

There's an easy to earn welcome bonus to boot. You'll get $$25 cash back after the first purchase.

1 downside to the CIBC Dividend Visa Card for Students

There's only one real downside to this card – the base earn rate. Outside of your categories, you're only earning 0.5% cash back.

That said, there are plenty of categories where you'll earn more than that, and will cover a large portion of your regular expenses.

Comparison to the CIBC Dividend Visa Card for Students

CIBC also offers a travel credit card for students with the CIBC Aventura Visa Card for Students. Here's how they stack up.

The CIBC Aventura Visa Card for Students can offer more for rewards, but there's a catch to them – they're not guaranteed. And depending on how much you spend per month, it may take you a while before you're able to redeem your CIBC Rewards.

When it comes to benefits, they're largely the same though. It really comes down to what type of rewards you can earn.

If you don't mind waiting to redeem rewards and want to save up for a trip, go with the Aventura Visa. But if you simply want help paying for basic expenses, choose the Dividend card.

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FAQ

What does the CIBC Dividend Visa Card for Students earn for rewards?

The CIBC Dividend Visa Card for Students is a cash back credit card that earns the following on purchases:

• 2% cash back on eligible groceries
• 1% cash back on eligible gas, EV charging, transportation, recurring bills, and dining
• 0.5% on all other purchases

What benefits does the CIBC Dividend Visa Card for Students come with?

There's one big benefit that comes with all CIBC student credit cards. You'll get a free SPC membership included, which is a savings of $11.99.

What is the annual fee of the CIBC Dividend Visa Card for Students?

The CIBC Dividend Visa Card for Students has no annual fee and approval requirements designed for students.