CIBC Aeroplan Visa for Students Review

The CIBC Aeroplan Visa for Students is a fee-free travel card that lets you earn Aeroplan Points while you study. You can earn 1 point for every dollar you spend on gas, groceries and purchases with Air Canada. You’ll also get a generous welcome bonus when you sign up, along with basic insurance such as purchase protection and extended warranty. This card also comes with more premium perks, including common carrier insurance and rental car coverage.

30-second take

• Think about this card if you’re a full-time student and you don’t want to pay an annual fee to collect Aeroplan Points.

• Choose something else if you want airport perks or premium travel benefits such as travel medical or trip cancellation/interruption insurance.

• The CIBC Aeroplan Visa for Students comes with no minimum annual income requirements.

The Basics

If you’re a student and you want to collect Aeroplan Points, then you could benefit from the CIBC Aeroplan Visa for Students.

• No annual fee. You won’t have to pay an annual fee to maintain this credit card.
• Decent return. Earn 1 point for every $1 you spend on groceries, gas and Air Canada purchases as well as 1 point for every $1.50 you spend on everything else.
• Collect Aeroplan Points twice. Earn double the points when you use your CIBC Aeroplan Visa for Students to shop with Aeroplan partners.
• Intro offer. Get up to 10,000 Aeroplan Points when you sign up and make your first purchase with the current promotional offer (subject to change).
• Basic benefits. Take advantage of basic insurance such as purchase protection and extended warranty coverage when you shop for merchandise with your card.

The perks

• Car rental insurance. Get up to 48 days of rental car insurance when you book a vehicle with your CIBC Aeroplan Visa for Students.
• Common carrier insurance. Rest easy with Up to $100,000 worth of insurance for covered losses while travelling on a common carrier (such as a bus, ferry, plane or train).
• Extra points for money transfers. Collect extra Aeroplan Points for every $6 you spend on sending CIBC Global Money Transfers.
• Low interest financing. Take advantage of low interest installment plans and financing for large purchases on your credit card with the CIBC Pace It program.

What to watch out for

• High interest. You’ll pay 20.99% interest for purchases and 22.99% for cash advances when you hold an outstanding balance.
• Few benefits. You won’t be able to take advantage of comprehensive benefits such as roadside assistance or mobile device protection with this card.
• Limited travel perks. This card doesn’t come with travel perks such as emergency medical coverage, trip cancellation insurance, free checked baggage or lounge access.
• No cash back. You won’t be able to earn cash back and your points will be locked into Aeroplan’s reward program.
• Only available to students. You’ll have to be a student registered with an eligible post-secondary institution to qualify for the CIBC Aeroplan Visa for Students.

CIBC Aeroplan Visa for Students interest rates

What should I know before I apply?

Eligibility requirements

To apply for a CIBC Aeroplan Visa for Students, you need to meet the following criteria:

• Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces)
• Be a registered student with an eligible post-secondary institution.

You will also need to provide the following documents and information:

• Your name, residential status and contact information
• Your Social Insurance Number (SIN) and date of birth
• Your email address and phone number

How to apply

1. Visit CIBC’s main page to access the CIBC Aeroplan Visa for Students 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 Aeroplan Visa for Students is a card designed for students who want to collect Aeroplan Points for no annual fee. It comes with a welcome bonus and lets you earn one point for every dollar you spend on everyday purchases such as gas or groceries. You can also take advantage of additional benefits such as car rental coverage, common carrier insurance, purchase protection and extended warranty coverage.

Frequently asked questions about the CIBC Aeroplan Visa for Students

• Does the CIBC Aeroplan Visa for Students come with a welcome offer?

  Yes, the current welcome offer for this card is 10,000 Aeroplan Points, which is enough to cover the cost of one short-haul flight. This offer is subject to change so you should check CIBC’s main site for more information about its current offer.

• Can I sign up for the CIBC Aeroplan Visa for Students if I'm not currently studying?

  Unfortunately, no. You’ll need to be a student registered with an eligible post-secondary institution to qualify for this credit card. If you’re not a student, you may want to check out the CIBC Aeroplan Visa for a card with similar benefits and the same return on points.

• How many Aeroplan Points could I earn in the first year?

  It depends on how much you spend. If you spend $2,000 per month on gas and groceries, you could earn up to 24,000 Aeroplan Points in your first year (not including your welcome bonus). This is enough to cover a return flight from Canada to most places in North America.

• Will my Aeroplan Points expire?

  No. As long as you keep your credit card active, your Aeroplan Points won’t expire. Your points will only expire if you haven’t earned, redeemed, donated or transferred any points in 18 consecutive months.

• Does this card come with travel insurance?

  Unfortunately, no. You won’t get any supplementary travel medical or trip interruption/cancellation insurance with this card. You also won’t get airport perks such as lounge access or priority boarding.

• Can I apply online?

  Yes, you can apply by visiting the CIBC bank website or by clicking “Go to Site” in the table above to be redirected to an application.