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The Canadian Imperial Bank of Commerce (CIBC) offers a range of credit cards from cash back rewards cards to business and student cards. Rewards including points per dollar spent, low interest rates, zero annual fees, complimentary perks and more.
Our guide covers the different types of offered, as well as the features and benefits of all those cards. We walk through different types of CIBC credit cards including eligibility requirements and how to apply. We also answer some of the most commonly asked questions about CIBC credit cards.
We’ve chosen the credit cards on this page by considering a number of factors like rewards points, cash back, annual fees, interest rates, balance transfer offers and additional card benefits like signup bonuses. Since no single credit card will be the best choice for everyone, compare your options before deciding on the right card for your needs.
Types of CIBC credit cards available
CIBC offers a wide range of credit cards, including zero annual fee and low interest cards, travel and cash back cards, student cards and business cards. There are also premium credit cards, including Visa Infinite cards, that offer more benefits and complimentary extras, such as travel insurance, free travel booking and trip planning services, bonus welcome points and more points earning potential. Here’s a summary of the main types of CIBC credit cards you can choose from:
Low interest credit cards
CIBC offers a low interest rate credit card that also has low annual fees , as well as a low fee to transfer your current balance. This credit card comes with common carrier accident insurance, as well as the option for additional coverage such as emergency travel medical insurance and CIBC payment protector insurance.
Travel rewards credit cards
CIBC has a variety of different travel rewards cards offering different perks, depending on which card you select. These perks may include Aeroplan points, points per dollar spent, complimentary travel and purchase insurance and welcome bonus points. Some travel credit cards offered by CIBC have an annual fee, while others do not. Furthermore, some of the premium travel cards offer complimentary extras like trip planning and travel booking services.
No annual fee credit cards
CIBC offers a range of no annual fee credit cards that offer different perks like travel and cash back rewards. Depending on the no annual fee card that you choose, you may be offered additional rewards like points per dollar spent, complimentary insurance coverage and perks at local businesses.
Cash back credit cards
Depending on the card you choose, you can earn cash back on gas or groceries. These cards typically come with zero or low annual fees and complimentary insurances including purchase security, extended protection, common carrier accident insurance, auto rental collision and loss damage insurance.
Student credit cards
CIBC offers a range of different student cards to suit a variety of spending needs and lifestyles. Choose from classic Visa cards that offer insurance coverage or rewards cards that offer cash back, Aeroplan points or other travel rewards. These cards usually come with zero or low annual fees. Some examples of student credit cards include the CIBC Dividend Visa Card for Students and the CIBC Aeroplan Visa for Students.
Business credit cards
CIBC has a variety of business credit cards that are designed specifically for small businesses. Get welcome bonus points, zero or low annual fees, insurance protection, Aeroplan points and complimentary travel rewards. Some examples of business cards include the CIBC Corporate Classic Plus Visa Card and the CIBC Aeroplan Visa business Plus Card.
US Dollar credit cards
CIBC offers a US dollar credit card that allows you to skip the currency conversion fees when you spend money in the US. With a low annual fee, this card offers complimentary purchase protection insurance as well as points per dollar spent.
Costco card
CIBC offers a Costco credit card that allows you to earn cash back wherever Mastercard is accepted, and have access to new Mobile Device Insurance for your next mobile phone purchase, flexible installment payment options and more.
The benefits of banking with CIBC
Some of the features you can enjoy when you get a CIBC credit card include:
CIBC rewards
With a CIBC credit card, you typically earn 1 point per $1-$2 spent. You can use your points to pay back your credit card balance or spend the points on merchandise through the online CIBC store. You can also earn Aeroplan points , which you can redeem for money off.
CIBC internet and mobile banking
If you have a CIBC credit card, you can access your account, including any debit or investment accounts, through CIBC Online Banking. Furthermore, you can download the CIBC app for your smartphone and access your accounts via your phone. This means you can manage your account, pay bills, send transfers to other accounts in Canada and overseas, request a credit limit increase or apply for another CIBC product at any time online or via the mobile app.
CIBC credit card complimentary extras
Many CIBC credit cards come with complimentary extras like purchase security, extended protection, common carrier accident insurance, auto rental collision and loss damage insurance. Some of the premium cards, including Visa Infinite credit cards, come with additional complimentary extras which may include travel insurance, concierge services, airport lounge access, free travel and trip booking services, vouchers, luxury travel benefits and other extensive insurance coverage.
CIBC credit card security
CIBC protects clients from any illegal activities with their fraud monitoring system. If your account has any suspicious or unusual activity on it, you will be contacted immediately by CIBC. Alternatively, if you detect fraudulent activity on your credit balance, contact CIBC immediately to seek assistance.
How to apply for a CIBC credit card
Before you get started on your application, ensure that you meet the eligibility requirements for the specific credit card that you want to apply for. It’s best if you have all of the necessary documents and details ready in order to complete your application easily. Eligibility requirements typically vary between credit cards but generally include the following:
Eligibility requirements
How old are you? You should be at least 18 years old to apply for your own credit card.
What’s your Canadian residency status? You usually need to be a Canadian citizen or a permanent resident of Canada to apply for a Canadian credit card.
What’s your credit history like? Ideally, you should have a good to excellent credit score and no recent evidence of defaults or bankruptcy. Some cards will accept fair to poor credit, however check with the provider on the specific card before you apply if you have less than good credit. A good credit score in Canada is typically 650 or higher.
Information you’ll need for your application
If you meet the eligibility requirements for the credit card you wish to apply for, you can proceed with your application by supplying the following information:
Personal information. You’ll need to provide personal information such as your address and your contact information. You’ll also need to verify your identity by providing an accepted form of identification, such as your driver’s licence number or passport number.
Financial information. You must state your current employment status, including your employer’s contact details, and list any other income and assets such as shares or property. If you’re self-employed, you may need to provide documentation related to your expenses and liabilities, and include your accountant’s contact information.
CIBC offers a variety of credit cards that cater to students, frequent travellers and small business owners. Although CIBC offers many credit cards to suit different lifestyles and financial needs, you should make sure that you compare providers and credit card options before applying for a card, since there are numerous unique products in the marketplace.
Frequently asked questions about CIBC credit cards
We’ve curated a list of the most commonly asked questions about CIBC credit cards. If you can’t find the answer to your question here, or if you’d like to leave us some feedback, get in touch with us using the form at the bottom of this page.
You can activate your CIBC credit card by calling the toll free number on the card. Once you call the number, you will be required to state some basic information. You’ll be able to use your credit card immediately, once you activate it.
Head to the CIBC Online Banking facility and enter your online banking details. Ensure that you visit the secure CIBC website in order to log in to your banking. Alternatively, you can download the CIBC app for your smartphone and log in to your online banking that way.
If you have a balance on your CIBC credit card, interest will be calculated daily and charged monthly. Interest rates in Canada vary greatly, and can be as low as 0% (for balance transfer credit cards) or as high as 36%. Typical interest rates sit between 19.99% and 27.99%.
You can receive paper copies of your statement in the mail or opt for electronic statements. You’ll receive an email with your attached statement. Alternatively, you can check your balances and statements online through the secure CIBC website or via the mobile app.
You can contact CIBC directly via phone to increase your credit limit or log in to your Online Banking and request a limit increase.
A new credit card will be mailed to you automatically just before the expiry date.
You can close your CIBC credit card account via Online Banking, by calling the bank or visiting a teller in person at a branch.
CIBC offers a variety of other products including bank accounts, mortgages, investment accounts, savings and borrowing options, insurance, business solutions and financial advice.
Emma Balmforth is a producer at Finder. She is passionate about helping people make financial decisions that will benefit them now and in the future. She has written for a variety of publications including World Nomads, Trek Effect and Uncharted. Emma has a degree in Business and Psychology from the University of Waterloo. She enjoys backpacking, reading and taking long hikes and road trips with her adventurous dog.
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Chelsey Hurst is a publisher at Finder, specializing in banking and investments. She loves empowering people to avoid financial pitfalls and make better decisions with their money. Chelsey has a Bachelor of Science from Redeemer University, a Master of Science from McMaster University, and has won multiple awards for research communication. In her spare time, Chelsey enjoys cooking and taking long walks in nature.
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