CIBC Debit Card Review
Get gas discounts and earn cashback when you shop in person or online with this versatile debit card.
The CIBC Advantage Debit Card is an everyday debit card that comes with a handful of credit card features. It lets you shop online, earn cashback and get special discounts on gas and other purchases. You can shop in-store wherever Interac is accepted or online with retailers that accept Visa Debit. You’ll automatically be enrolled for a CIBC Debit Card when you sign up for most CIBC chequing or savings accounts.
- Think about this card if you want to earn cashback and you’d like to shop online using your debit card.
- Choose something else if you want access to direct credit or you would rather shop with a Mastercard Debit (with vendors such as Costco who don’t accept Visa).
If you’re looking for a multi-purpose debit card that lets you earn rewards and shop with a large number of online retailers, then the CIBC Advantage Debit Card could be a good fit for you.
- Pay for online purchases. Use your CIBC Debit Card to pay for online purchases straight from your bank account.
- Earn cashback. Sign up to earn cashback when you shop with some of your favourite retailers through the Paymi app.
- Gas discounts. Link your CIBC Debit Card to your Journie Rewards Card to get 3 cents per litre off when you refuel at Ultramar, Pioneer or Chevron gas stations.
- Student deals. Get a free Student Price Card (SPC) membership included with this card to save up to 30% off brands such as adidas, Indigo, Apple and many more.
- Free CIBC ATM withdrawals. Withdraw cash for free at CIBC ATMs or pay a small fee to take money out at non-CIBC ATMs across Canada and overseas.
Where can I use my CIBC Debit Card online?
You can shop with your CIBC Debit Cardt with millions of merchants using funds that come directly from your bank account. These include retailers such as Amazon, Walmart, Apple and many more. You can also use your CIBC Debit Card overseas to shop in over 200 countries, wherever Visa is accepted. It’s also possible to pre-authorize purchases such as hotels and car rentals if you have enough money in your account.
- Quick payments. Tap your CIBC Debit Card at Interac Flash-enabled terminals or link your card to your mobile wallet so that you can pay by swiping your mobile phone.
- Easy mobile banking. Track your transactions on the go with user-friendly online and mobile banking.
- Enhanced security. Protect yourself from fraud with security features such as chip technology, active fraud monitoring and online “Verified by Visa” services.
- Zero-liability coverage. Rest easy knowing you’re protected against fraudulent charges on your CIBC Debit Card with Visa’s zero-liability policy.
- Pay for recurring bills. Sign up for recurring bill payments for your Internet, phone, streaming services and more using your CIBC Debit Cardt.
What to watch out for
- Transaction limits. You could have trouble making large purchases depending on your CIBC Advantage Debit Card daily limits.
- Foreign transaction fees. You’ll have to pay an additional fee of 2.5% whenever you spend money overseas (in addition to the mark-up on currency exchange).
- No access to credit. This card only allows you to access money that’s already in your account, which means you can’t use it to make purchases on credit.
- Can be difficult to use. You could have issues making some purchases online because not all vendors will accept Visa Debit Cards.
What should I know before I apply?
You won’t need to apply for a CIBC Advantage Debit Card because you’ll get one automatically if you meet both of the following criteria:
- You are a Canadian citizen, permanent resident or temporary resident of Canada.
- You are applying for a CIBC chequing or savings account that qualifies for this card.
Required documents and information
To sign up for an eligible CIBC bank account, you’ll need to provide the following:
- Your name, residential status and contact information
- Your Social Insurance Number and date of birth
- Your email address and phone number
How to apply
- Visit CIBC‘s main page to apply for the chequing or savings account of your choice.
- Complete the application, which includes providing your name, email address, Social Insurance Number and birth date.
- Review and submit your application.
- Your CIBC Debit Card should come automatically included with your account once you sign up (so you won’t need a separate application).
The CIBC Advantage Debit Card is an integrated debit card that offers several credit card features. It lets you earn rewards and spend money online with Visa Debit retailers. You can also use this card to pay recurring bills and pre-authorize payments. You won’t need to fill out an application to sign up for the CIBC Debit Card because you’ll get one automatically included when you register for most of CIBC’s chequing or savings accounts.