CIBC Aeroplan Visa Business Card review

30-second take

• Strong earning potential on most business expenses and lucrative travel perks.

• Minimum income requirements apply and there are high annual fees.

• This credit card is only available to business owners.

The basics

Whether your trip is for business or pleasure, the CIBC Aeroplan Visa Business Card may be the right choice for you.

• Accelerated earnings. Earn 1.5 Aeroplan points for every dollar spent on shipping, Internet, cable, phone services, travel and dining. Earn 2 Aeroplan points for every dollar spent on Air Canada and Air Canada Vacations purchases. Earn 1 Aeroplan point for every dollar spent on all other purchases. Plus, Earn points twice
  at over 150 Aeroplan partners and over 170 online retailers through the Aeroplan eStore.
• Welcome bonus. Earn up to 60,000 Aeroplan points, plus receive a Bonus Companion Pass/Buddy Pass with Air Canada and a first-year annual fee rebate.
  
• Travel insurance coverage. CIBC offers trip cancellation, trip interruption, flight delay, baggage, car rental and common carrier accident insurance.
• Purchase insurance. Obtain an extended warranty and purchase security insurance for all expenditures made on the CIBC Aeroplan Visa Business Card.

The perks

• Earn Aeroplan points on business costs. Earn 1 points for every dollar spent on shipping, Internet, cable, phone services, travel and dining.
• Opportunity to earn double. If you use your CIBC Aeroplan Visa Business Card and regular Aeroplan card at the time of purchase, you will earn double the points.
• Lower interest. The interest rate varies depending on your credit score. The lowest option is 12.99% and the highest option is 18.99%. The highest option is still lower than average.
• Earn points faster. Add employees to your account to earn points faster.
• Travel in style. The first checked bag is free for you and up to eight companions when you fly with Air Canada. Obtain up to four complimentary passes to Maple Leaf Lounges per year.
• Aeroplan rewards. Reap the benefits of being an Aeroplan member. Redeem points for travel, merchandise, experiences and much more.

What to watch out for

• High annual fee. The annual fee is $180 per year.
• Cost of additional cardholders. Each additional cardholder costs $50 per year.
• Minimum income requirement. Cardholders must earn at least $35,000 a year, individually.

CIBC Aeroplan Visa Business Card interest rates

What should I know before I apply

Eligibility requirements

• Own a business
• Have a minimum income of $35,000
• Have not declared bankruptcy in past seven years
• Be a Canadian resident
• Be the age of majority in your province or territory

Required documentation and information

• Business information
• Business structure details
• Your personal information
• Signing officer’s personal information
• Other cardholder’s personal information

How to apply

1. Go to CIBC’s website.
2. Under Credit Cards, select Explore Credit Cards.
3. Click Business.
4. Scroll down to CIBC Aeroplan Visa Business Card. Click Apply now.
5. Complete the application.

Expert review

The CIBC Aeroplan Visa Business Card is an ideal choice for frequent travellers, both business and pleasure. If your business doesn’t incur the expenses that earn Aeroplan points at an accelerated rate, you may want to consider other credit card options.

Frequently asked questions

• I just made a payment, why isn't it reflected in my credit card balance?

  A credit card payment takes three to five business days to be processed. After this period of time, the payment will be reflected in your credit card balance.

• How do I perform a balance transfer to a CIBC credit card?

  Balance transfers allow users to transfer balances from a non-CIBC account to a CIBC credit card account. Your account must be in good standing to qualify for a balance transfer. The cash advance interest rate will apply to the balance transferred amount. Balance transfers cannot exceed your available credit limit. Partial transfers are not accepted.

  To perform a balance transfer, follow these steps:

  1. Sign in on CIBC’s website or app.
  2. Choose Customer Services from the menu.
  3. Select Request a credit card balance transfer.
  4. If you prefer, you can also make the request by calling CIBC at 1-800-465-4653.

• How do I check my credit card balance?

  You can access your current credit card balance by logging in to CIBC Online Banking. A snapshot of all your account balances will appear on your My Accounts page, including your CIBC Aeroplan Visa Business Card balance. Keep in mind that recent transactions and payments can take several business days to process.