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CIBC Corporate Classic Plus Visa Card review

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CIBC Corporate Classic Plus Visa Card
Welcome Offer
N/A
Rewards
N/A
Annual Fee
$20
Purchase Interest Rate
19.99%
Cash Advance Rate
22.99%
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Summary

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.

In this guide

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  • Your reviews

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.

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.

CIBC Corporate Classic Plus Visa Card interest rates

Interest TypeInterest Rate
Purchase interest rate19.99%
Cash advance rate22.99%

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.

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American Express Cobalt Card
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BMO CashBack Mastercard
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Tangerine Money-Back Credit Card
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10% cash back
Up to 2% cash back
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RBC ION+ Visa
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BMO eclipse rise Visa Card
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BMO Preferred Rate Mastercard
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
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$0 annual fee for the first year ($29 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 $29 annual fee waived in the first year.
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Claire Horwood

Associate editor

Claire Horwood is a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, and an Associate’s Degree in Science from Camosun College. Much of Claire’s coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. In her spare time, Claire enjoys rock climbing, travelling and drinking inordinate amounts of coffee. See full profile

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