CIBC Dividend Visa Card
Earn up to 2% cash back with the CIBC Dividend Visa card, for no annual fee. Plus get 3 types of insurance included for no extra cost.
- Annual Fee
- Extra Card Fee
- Card Type
- Cash Advance
- Balance Transfer
- Personal Income
- Household Income
|Extended Warranty||1 year|
|Purchase Protection||90 days|
Please review your insurance certificate for details, exclusions and limitations of your coverage.
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Here's a lowdown on this card, and a few alternatives to consider.
Earning cash back rewards with the CIBC Dividend Visa
So what will you earn for cash back?
You can earn up to 2% cash back on your purchases:
- 2% cash back on groceries, up to $6,000 spent annually (1% after), and
- 0.5% on all other purchases, which increases to 1% after spending $6,000 (excluding groceries).
Spend $6,000 on groceries, and that's $120 in cash back you've earned for no annual fee.
However, on the rest of your spending, you're only looking at 0.5% on that first $6,000 in spend. Thankfully, the earn rate increases to 1% after that, which is a good flat rate for a no fee card.
You'll get your cash back to you every year as a statement credit in December.
Other features of the CIBC Dividend Visa
Besides cash back, what else does this credit card provide?
The only other benefits this card offers are 3 insurance coverages:
- travel accident,
- extended warranty, and
- purchase protection.
The full coverage amounts can be viewed in the insurance tab located above.
Other than that, there are no other benefits provided with this card. But since it has no annual fee, that's not really surprising. You tend to get what you pay for when it comes to credit cards.
2 credit card alternatives
Looking for something different? Here are 2 other no fee cash back credit cards to consider. They could also work as a companion to your CIBC Dividend Visa as well.
The first is the
Why it makes a great pairing: Use the CIBC Dividend Visa for 2% cash back on groceries, and pick up to 3 other categories to earn 2% cash back as well. That's a total of 4 categories with 2% cash back for no annual fee.
Another alternative is the
Why it makes a great pairing: You'll supplement the CIBC Dividend's base earn rate of 0.5% with a full 1% cash back, while also getting no foreign transaction fees.