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CIBC Dividend Visa Card for Students review

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CIBC Dividend Visa Card for Students
Welcome Offer
$50 cash back
Rewards
Up to 2% cash back
Annual Fee
$0
Purchase Interest Rate
20.99%
Cash Advance Rate
22.99%
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Summary

Get special discounts and a decent return on cashback with a card tailored to meet your daily needs as a student. 

Get $50 cash back after you make your first purchase within the first 4 months.

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The CIBC Dividend Visa Card for Students offers a decent return on cash back with no annual fee. Earn 2% cash back on groceries, 1% on gas, transportation, dining and recurring payments, and 0.5% on everything else. This card also comes with a free SPC membership, basic insurance and a generous welcome offer.

30-second take

  • Think about this card if you want a decent return on cash back and no annual fee.
  • Choose something else if you want comprehensive benefits and flexible rewards.
  • There are no minimum income requirements to qualify for this card.

The basics

If you’re looking for a card that’s tailored to meet your unique set of needs as a student, then the CIBC Dividend Visa Card for Students could be the right fit for you.

  • No annual fee. This card has a $0 annual fee.
  • Decent cash back. Get cash back on all purchases.
  • Extra cash back for groceries. Rack up double the cash back when you shop for groceries.
  • Welcome offer. Get $50 cash back after you make your first purchase within the first 4 months.
  • Free SPC membership. Get a free Student Price Card to secure discounts at over 450 partner brands in-store and online.
  • Purchase assurance. Your purchases are insured against loss, theft or damage for 90 days
    .
  • Extended warranty. Lock in double the protection with an added year of warranty coverage on eligible purchases made with your card.

The perks

  • Common carrier insurance. You’ll be insured up to $100,000 every time you travel by plane, ferry, train or bus.
  • Optional travel insurance. Pay an additional fee to get optional travel medical insurance.
  • Fraud alerts. Get notified quickly about unauthorized use of your credit card with custom email and online alerts.
  • Free additional cards. Order up to three additional cards at no extra cost.
  • Tap and pay. Pay instantly when you use contactless payments or Apple Pay.
  • Enhanced security. Cards are equipped with an embedded microchip to encrypt information.

What to watch out for

  • High interest. You’ll pay standard high interest on your outstanding balances and even more interest on cash advances and balance transfers.
  • Strict redemption criteria. Cash back can only be applied as an annual credit on your December statement.
  • No points. You won’t be able to collect points to cash in for rewards like travel, merchandise or gift cards.
  • Limited benefits. This card doesn’t offer additional benefits like extended travel medical, mobile phone insurance or roadside assistance.

CIBC Dividend Visa Card for Students interest rates

Interest TypeInterest Rate
Purchase interest rate20.99%
Cash advance rate22.99%
Standard balance transfer 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

The CIBC Dividend Visa Card for Students could be a good fit for you if you’re looking for a card that offers a higher cash back return on daily essentials like groceries for no annual fee. It also comes with a free SPC membership and basic insurance.

Compare other credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
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) when you spend $1,000 in the first 2 months. Valid until January 31, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
RBC Cash Back Mastercard
0.99% for 10 months balance transfer + cash advance offer
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 650
Get a 0.99% introductory interest rate for the first 10 months on balance transfers and cash advances. Apply by December 6, 2023.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$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 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
OFFER
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) when you spend $1,000 in the first 2 months. Valid until January 31, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
RBC Avion Visa Infinite
35,000 points
Up to 1 point per $1 spent
20.99%
$120
Min. recommended credit score: 650
Get up to 35,000 Welcome Points. Apply by January 21, 2024.
American Express Cobalt Card
15,000 points
Up to 5x points per $1 spent
20.99%
$155.88
Min. recommended credit score: 700
Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
RBC ION+ Visa
7,000 points
3 points per $1 spent
20.99%
$48
Min. recommended credit score: 660
Get up to 7,000 welcome points. Get 3,500 points on approval and earn 3,500 bonus points when you spend $500 in your first 3 months.
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
13.99%
$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.
RBC ION Visa
3,500 points
1.5 points per $1 spent
20.99%
$0
Min. recommended credit score: 660
Get 3,500 Avion points when you get approved for the card. Plus, get a 0.99% interest rate on cash advances and balance transfers for the first 10 months. Apply by December 6, 2023.
American Express Green Card
10,000 points
1 point per $1 spent
20.99%
$0
Min. recommended credit score: 700
Earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first 3 months as a new Cardmember. That’s $100 towards groceries or concert tickets.
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