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CIBC Corporate Classic Plus Visa Card review

Manage your business spending and build your credit history with this low-fee business card.

The CIBC Corporate Classic Plus Visa Card is a no-frills credit card that lets you easily manage your business expenses.

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Welcome Offer

$20

Annual Fee

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Rewards

Please note: All information about CIBC Corporate Classic Plus Visa Card has been collected independently by Finder and this product is not available through this site.

The CIBC Corporate Classic Plus Visa Card is a no-frills credit card that lets you easily manage your business expenses. This card doesn’t offer any rewards but you’ll get common carrier insurance and special offers on travel and merchandise for a low annual fee.

30-second take

  • Think about this card if you own a small business and want to Pay a low annual fee of $20 to keep your card active.
  • Choose something else if you would prefer to earn rewards or get comprehensive benefits.
  • There’s no minimum annual income listed to qualify for this card but your approval will depend on the credit worthiness of your business.

The basics

If you’re looking for a no-frills credit card that can help you keep track of your business expenses, then you could benefit from the CIBC Corporate Classic Plus Visa Card.

  • Low annual fee. Pay a low annual fee of $20 to keep your card active.
  • Common carrier insurance. Get up to $100,000 in insurance coverage when you travel by plane, ferry, train or bus.
  • Car rental discounts. Enjoy car rental savings up to 25% at participating Avis and Budget locations around the world.
  • Special offers. Register your card with Visa SavingsEdge to lock in discounts on business solutions, travel, electronics and more. Plus, save $100 on your first purchase with Amazon Business when you spend $250. Valid until August 14, 2022

The perks

  • Business tools. Track your business spending with special reporting software and online tools (enrollment with Visa is required).
  • Security features. Protect yourself from fraud with special features like instant alerts, encrypted chip-enabled cards and Visa Checkout services.
  • Many additional cards. Order up to 15 additional cards on your account.
  • Customizable spending limits. Set spending limits on your cards to make sure you don’t exceed your monthly budget.

What to watch out for

  • High interest. You’ll pay an industry standard 19.99% interest on any outstanding balances and 22.99% interest on cash advances.
  • No cash back or rewards. You won’t earn any points or cash back for spending money on your business.
  • Fee for additional cards. You’ll need to pay an annual fee of $20 for every extra card you add to your account.
  • Few benefits. You won’t even get purchase protection or extended warranty coverage on this card, which is the bare minimum for most basic credit cards.

What should I know before I apply

How to apply

  1. Head to the CIBC website to begin your application.
  2. Complete the application, which includes providing your name, email address, social insurance number and birth date.
  3. Review and submit your application.

Bottom line

If you’re in the market for a no-frills card that will help you manage and track your business expenses, then you might benefit from the CIBC Corporate Classic Plus Visa Card. This card offers common carrier insurance and an array of business tools for a low annual fee.

Compare other credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC Cash Back Mastercard
N/A
Up to 2% cash back
19.99%
$0
Min. recommended credit score: 650
Get 2% cash back on grocery store purchases, and up to 1% cash back on all other qualifying purchases and pre-authorized payments.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
19.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 1.99% on balance transfers with a 1% balance transfer fee for nine months.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) on up to $1,000 of purchases in the first 2 months Until July 31, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
RBC Avion Visa Infinite
55,000 points
Up to 1 point per $1 spent
19.99%
$120
Min. recommended credit score: 650
Get up to 55,000 Welcome Points. Get 35,000 points on approval and 20,000 bonus points when you spend $5,000 in your first 6 months. Apply by September 16, 2022.
OFFER
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) on up to $1,000 of purchases in the first 2 months Until July 31, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
EXCLUSIVE
Neo Financial Mastercard
Get $25.00
Average 5% cash back
19.99% - 24.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at thousands of partners and at least 1% cashback guaranteed.
RBC Rewards+ Visa
3,500
Up to 2 points per $1 spent
19.99%
$0
Min. recommended credit score: 650
Earn up to 3,500 RBC Rewards points by going digital in the first 60 days.
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
12.99%
$0 annual fee for the first year ($20 thereafter)
Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $20 annual fee waived in the first year.
Walmart Rewards Mastercard
Up to $25 in Reward Dollars
Up to 1.25% cash back
19.89%
$0
Min. recommended credit score: 650
Get up to $25 in bonus Walmart Reward Dollars.
American Express Cobalt Card
30,000 points
Up to 5x points per $1 spent
20.99%
$155.88
Min. recommended credit score: 700
Earn up to 30,000 Membership Rewards points in your first year. Earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 in net purchases on your card (up to 30,000 points).
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Frequently asked questions about the CIBC Corporate Classic Plus Visa Card

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