CIBC Dividend Visa Infinite Card Review

What Is The CIBC Dividend Visa Infinite Card?

CIBC Dividend Visa Infinite Card is one of the cash back credit cards offered by CIBC, one of the largest banks in Canada. It's one of the best credit cards for Canadians, winning 5 awards from Milesopedia and Rewards Canada. It was also the winner of the “Best Cash Back Credit Card for 2022” for giving the best cash back offers on groceries, gas, and transportation for 2 consecutive years. For an annual fee of $120, you can earn up to 4% cash back on your everyday purchases – having a higher earn rate than most competitors! 

If you apply for this card, you can access the Visa Infinite Program. This offer turns your travel experience to a whole new level as it gives you complimentary breakfast and Wi-Fi, room upgrades, and late checkout at any Visa Infinite Luxury Hotel property worldwide.

Features Of CIBC Dividend Visa Infinite Card

#1 Annual Fee Rebates

The CIBC Dividend Visa Infinite Card has an annual fee of $120, completely waived for the first year. The interest rates for this card are 20.99% for purchases and 22.99% for cash advances. If you're looking for lower interest rates, you may want to look into the CIBC Select Visa Credit Card.

Suppose you like to enjoy an annual fee rebate every year. You will automatically qualify for this rebate if you have a CIBC Smart Plus Account; if you don't, you can apply directly from the CIBC website.

#2 Save Up To 10 Cents Per Litre On Gas With Journie Rewards

You can save up to 10 cents per litre every time you fill up your tank at nearby Pioneer, Ultramar, Fas Gas, and Chevron gas stations. Here's how you can qualify for Journie rewards:

1. Apply for an eligible CIBC credit card (e.g., the CIBC Dividend Visa Infinite Card)
2. Join Journie Rewards by creating an account
3. Sign on to your CIBC Online Banking or CIBC Mobile Banking and select to link your card with Journie Rewards
4. Follow the on-screen instructions and enter the 16-digit number of your Journie Rewards account
5. You will then get a confirmation that the link was successful

After linking your credit card to your Journie Rewards account, you can now save the following amount:

• 3 cents – for purchasing gas at participating Pioneer, Fas Gas, Ultramar, and Chevron gas stations
• 7 cents – whenever you earn 300 Journie points

Aside from saving 10 cents, Journie Rewards also offers 150 bonus points for linking your eligible CIBC credit card – which is only issued once per customer.

If you want a credit card to save on gas without charging an annual fee, you should consider the CT Triangle Mastercard.

#3 Earn Up To 4% Cash Back On Most Everyday Purchases

You can earn up to 4% cash back on purchases with the CIBC Dividend Visa Infinite Card – which is 2% higher than regular cash back credit cards. The qualifying categories are:

• Gas – 4% cash back
• Groceries – 4% cash back
• Dining – 2% cash back
• Transportation – 2% cash back
• Recurring bill payments – 2% cash back
• All other purchases – 2% cash back

Keep in mind there is an annual cash back cap – the 4% and 2% cash back rates are only applicable to the first $80,000 you spend every year. After you've reached the limit you'll earn a flat 1% cash back on all purchases. Cash back rates are reset every year.

The Cobalt card is an excellent alternative to the CIBC Dividend Visa Infinite, as it offers the chance to earn as much as 10% or more on the same purchase categories as the Dividend returns 4%. The only difference is that the Cobalt is a rewards card, not a cash back card.

#4 Exclusive Benefits With Free Access To Visa Infinite Program

Applying for the CIBC Dividend Visa Infinite Card gives you access to the Visa Infinite Program. Having access to this comes with exclusive benefits – this is particularly useful for frequent travellers. As a Visa Infinite cardholder, you will have access to:

• Visa Infinite Luxury Hotel Collection – with room upgrades, Wi-Fi access, complimentary breakfast, late checkout, and more
• Visa Infinite Dining Series – with culinary experiences with renowned chefs from the finest restaurants
• Visa Infinite Wine Country Program Map – get complimentary wine tastings and discounted wine deliveries from selected wineries in Ontario and British Columbia.
• 24-hour Complimentary Concierge – helps you plan your next trip or travel itinerary

#5 25% Discount At Avis And Budget Car Rentals

The CIBC Dividend Visa Infinite Card offers a 25% discount at Avis and Budget car rentals in North America. This is a must-have benefit if you travel frequently. Some additional perks include: 

• Complimentary additional driver – should also be a CIBC credit cardholder.
• Money saving coupons
• Avis Preferred or Fastbreak membership – to quickly get to your rented vehicle without waiting in lines.
• Optional travel perks with an additional fee – Fuel plans, Garmin GPS, Extended Roadside Assistance, and child safety seats.

If you want to cancel your car rental booking, you can still use the 25% discount. However, if you have already paid for your car rental online, you may be asked to pay a cancellation fee.

#6 Insurance Coverage Benefits And Credit Card Security Features

The CIBC Dividend Visa Infinite Card offers comprehensive medical, travel, and car rental insurance benefits when you travel abroad. Other insured categories include:

• Mobile Device Insurance
• Out-of-Province Emergency Travel Medical Insurance
• $500,000 Common Carrier Accident Insurance
• Auto Rental Collision and Loss Damage
• Purchase Security and Extended Warranty Insurance

For a fee, you can opt-in for additional insurance. For an additional $0.99 per $100 fee, the CIBC Payment Protector Insurance for Credit Cards covers you for up to $50,000 in the event of unemployment, disability, and critical illness.

In addition to insurance benefits, the CIBC Dividend Visa Infinite Card offers:

• Online Credit Card Management
• Spend Alerts
• Fraud Alerts
• Credit Report Alerts

CIBC Dividend Visa Infinite Card Pros And Cons

Pros

• Earn up to 4% cash back on groceries, gas, dining, transportation, and recurring bill payments.
• An annual fee rebate for the first year for the primary cardholder and up to 3 authorized users
• Save up to 10 cents per litre when you pump gas at Pioneer, Fas Gas, Ultramar, and Chevron gas stations.
• Access the Visa Infinite Program with luxury hotel benefits, dining and wine events, and 24-hour complimentary concierge services
• Earn 1% cash back on global money transfers with no transaction fees
• Get up to 25% off car rentals at Avis and Budget locations.
• It includes 5 types of insurance coverage for your purchases, mobile devices, travel, and car rentals with no extra cost. 

Cons

• It has an annual fee of $120 and an extra fee of $30 for additional credit cards.
• You get an annual fee rebate every year only if you have a CIBC Smart Plus Account.
• It requires a minimum personal annual income of $60,000 or a minimum household yearly income of $100,000
• It has a purchase rate of 20.99% and a cash advance rate of 22.99% (or 21.99% of you are a resident of Quebec)
• It is not best for people who prefer to earn points instead of cash backs.

Pricing

The CIBC Dividend Visa Infinite Card is the upgraded version of the CIBC Dividend Visa Card. This credit card offers more features and cash back rewards. Let us look at the table below and compare it with another credit card – Scotia Momentum Visa Infinite Card.

	CIBC Dividend Visa Infinite Card	Scotia Momentum Visa Infinite Card
Annual Fee	$120 – rebated for the first year	$120 – rebated for the first year
Additional Credit Card Fee	$30	$50
Minimum Personal Income	$60,000	$60,000
Minimum Household Income	$100,000	$100,000
Purchase Rate	20.99%	20.99%
Cash Advance Rate	22.99% or 21.99% if you are a resident of Quebec	22.99%
Balance Transfer Rate	22.99% or 21.99% if you are a resident of Quebec	22.99%
Foreign Currency Conversion Fee	2.5%	2.5%
Overlimit Fee	$29	$29

Regarding insurance coverage benefits, the Scotia Momentum Visa Infinite Card has more to offer than the CIBC Dividend Visa Infinite Card. It covers 8 insurance categories, including:

• New Mobile Device Insurance
• Trip Cancellation and Trip Interruption Insurance
• Travel Emergency Medical Insurance
• Flight Delay Insurance
• Delayed and Lost Baggage Insurance
• Travel Accident Insurance
• Rental Car Collision Loss/Damage Insurance
• Purchase Security & Extended Warranty Protection

If you're specifically looking for insurance, the Scotia Momentum Visa Infinite Card is the better option; it guarantees travel, baggage, mobile devices, and credit card purchase insurance.

In Summary

The CIBC Dividend Visa Infinite Card is an award-winning credit card that offers 4% cash back on eligible everyday purchases. This credit card is best for frequent travellers who also want to earn cash back and access discounts on car rentals and gas stations.

With an annual fee of $120, the CIBC Dividend Visa Infinite Card is definitely worth your money, especially if you send your money abroad with CIBC Global Money Transfer or travel frequently using Avis or Budget car rentals. This card also includes insurance benefits for your phone and an extended purchase warranty.

CIBC Dividend Visa Infinite Card FAQs

How much does the CIBC Dividend Visa Infinite Card cost?

The CIBC Dividend Visa Infinite Card costs an annual fee of $120 and an extra fee of $30 for every authorized user.

Is the CIBC Dividend Visa Infinite Card worth it?

Yes, the CIBC Dividend Visa Infinite Card is worth it. For only $120, you can earn 4% cash back on everyday purchases such as gas, groceries, dining, transportation, and recurring bill payments. Other than that, you can get rewarded with 1% cash back on global money transfers and up to 25% discount on Avis or Budget car rentals. If that does not convince you, using this card also saves up to 10 cents per litre when you pump gas at participating Chevron, Pioneer, Fas Gas, and Ultramar gas stations.

Is the CIBC Dividend Visa Infinite Card safe?

Yes, the CIBC Dividend Visa Infinite Card is safe. It has 3 primary security features to keep your credit card safe and secure from fraudulent activities. These security features include Spend, Fraud, and Credit Report Alerts, which would notify you of suspicious uses through email, phone, or online messages.

How do I get my CIBC Dividend Visa Infinite Card cash back?

You can get your CIBC Dividend Visa Infinite Card cash back anytime through CIBC Online Banking or CIBC Mobile Banking, as long as it reaches $25 or more. If you do not have enough balance, you can wait for your January statement to get your cash back as an annual credit. Other than that, you can call CIBC's customer support at 1-800-465-4653.

How does the CIBC Dividend Card work?

The CIBC Dividend Card works like a regular cash back credit card but with a higher earn rate of up to 4% on everyday purchases. You can earn cash back on various items such as gas, groceries, dining, transportation, and even bill payments. Like with most cash back credit cards, you must have a minimum $25 cash back balance to redeem it on your account.

Does the CIBC Dividend Visa Infinite Card have car rental insurance?

Yes, the CIBC Dividend Visa Infinite Card has car rental insurance for collisions, loss, or damages when using the vehicle. The only thing to remember is that its Manufacturer's Suggested Retail Price (MSRP) must not exceed $65,000, or the insurance will not cover it.

Does CIBC Dividend Visa Infinite Card have lounge access?

No, the CIBC Dividend Visa Infinite Card does not have lounge access. However, you can enjoy exclusive benefits of its Visa Infinite Program, including luxury hotel benefits, dining and wine experiences, 24-hour concierge services, room upgrades, and complimentary Wi-Fi and breakfast.