CIBC Aeroplan Visa Infinite Privilege Card Review

30-second take

• Earn rewards at a higher, faster rate when you spend on everyday items, such as grocery and gas.

• Expensive annual fees and high minimum income requirements.

• Opportunity to bundle this credit card with other CIBC products for savings.

The basics

The CIBC Aeroplan Visa Infinite Privilege Card is designed for comfortable, affordable and stylish travel. Check out the basic features of the credit card below.

• Rapid earnings. Earn 2 Aeroplan points for every dollar spent on Air Canada and Air Canada Vacations. Earn 1.5 points for every dollar spent on grocery, gas, travel and dining. All other purchases yield 1.25 points per dollar spent.
  With these rates, you’ll rack up Aeroplan points quickly.
• Welcome offer. Users Get up to 90,000 Aeroplan bonus points when you meet the spend requirements, plus get a first-year annual fee rebate if you have a CIBC Smart Plus Account.
• Two times the points. You can earn twice the Aeroplan points by completing a purchase with the Aeroplan Visa Infinite Privilege Card and presenting your regular Aeroplan card.
• Purchase insurance. Enjoy the use of purchase security and extended warranty insurance when you shop with your credit card.
• Travel insurance. Enjoy your trip with peace of mind by taking advantage of ample travel insurance. Insurance coverage for trip cancellation, hotel burglary, emergency medical and much more is included.
• Mobile device insurance. Coverage for your cellular device is included.

The perks

• Option to bundle. Cardholders that have a CIBC Smart Plus Account will receive a $139 annual fee rebate.
• Travel with a companion. Receive an Annual Worldwide Companion Pass after spending $25,000 on your card.
• Enjoy travel perks. The card comes with complimentary access to select Maple Leaf Lounges and Air Canada Cafes. Each cardholder receives six DragonPass lounge visits per year. Every time you fly, enjoy priority service including priority check-in, priority boarding and priority baggage handling for you and up to eight companions.
• Avoid baggage fees. The first checked bag on any Air Canada flight is free for you and up to eight companions.
• Share benefits with others. Authorized users on your account can link their Aeroplan number. This allows users to pool and share travel benefits.
• NEXUS fee rebate. Every four years, receive one NEXUS fee rebate. This perk is worth $50.
• Aeroplan rewards. Be a part of a lucrative travel rewards program. Enjoy cheaper travel costs, no restrictions and make redemptions with points and cash.

What to watch out for

• Minimum income requirements. To use this card, you must have a minimum annual income of $150,000 as an individual. For households, the minimum annual income is $200,000.
• High annual fee. The annual fee for this card is $599, though this is the industry standard.
• Cost of additional users. Additional cards cost $149 per year.
• Interest rates. Purchases accrue interest at 20.99%. Cash advances accrue interest at 22.99%.

CIBC Aeroplan Visa Infinite Privilege Card interest rates

What should I know before I apply?

Eligibility requirements

In order to qualify for the CIBC Aeroplan Visa Infinite Privilege Card, you must meet the following criteria:

• Be a Canadian resident
• Be the age of majority in your province or territory
• Have not declared bankruptcy in the past seven years
• Have a minimum income of $150,000 personally or $200,000 as a household

Required documents and information

You will be asked to provide the following information during the application process:

• Personal information, including your full name, occupation and residential address
• Social Insurance Number (SIN)

How to apply

You can apply for the CIBC Aeroplan Visa Infinite Privilege Card by phone, at a banking centre, by meeting with a CIBC expert or by completing an application online. Below are the steps to apply online:

1. Go to CIBC’s website
2. Click on Credit Cards, then Explore Credit Cards
3. Click Travel
4. Scroll down to CIBC Aeroplan Visa Infinite Privilege Card, click Apply now
5. Complete the application

Expert review

The CIBC Aeroplan Visa Infinite Privilege Card is an ideal choice for avid travellers who often have companions. A notable bonus of this travel-based credit card is there are accelerated earnings on everyday purchases. If you don’t travel frequently or travel solo, you may want to explore other options.

Frequently asked questions

• What is a pending transaction?

  A pending transaction is a purchase that’s been authorized on your credit card but hasn’t been posted to your account. This means the amount is no longer available to you, but the amount isn’t reflected in your current balance yet.

  Pending transactions typically take up to five days to post to your account. The amount of time depends on the vendor. Once the transaction is processed, the pending transaction will be removed from your pending total and added to your current balance.

• How do I make a credit card payment?

  There are a variety of ways you can make a payment towards your credit card.

  The easiest way to make a credit card payment is through CIBC’s online portal. In order to complete a transfer, your CIBC credit card must be linked to your debit card. If they’re not linked, go to your My Accounts page and click Link Account. Once the accounts are linked, simply perform a transfer from your debit account to your credit card.

  Another way to make a payment is by setting up your credit card as a payee through your CIBC bank account. Note that bill payments can take several days to process. To set up your credit card as a payee, either call 1-800-465-2422 or follow the below instructions:

  • Log in to CIBC Online Banking
  • Select Pay Bills
  • Select Add or Edit Payees
  • Enter the payee name in the text box, then click Search
  • Select the payee name from the search results
  • Enter your credit card number in the Payee Account Number field, then select Next
  • Review the payee information, then click Add Payee
  • Verify the information again by selecting Add Payee
  • Follow the verification instructions

  After completing these steps, you can pay your credit card using the Pay Bills function. This can be completed online, using the app, by telephone or at a CIBC ATM. There is an option to set up future-dated bill payments.

  You can set up pre-authorized payments to your credit card by calling CIBC at 1-800-465-4653. If you’re calling from outside of North America, call 514-861-4653.

  Finally, you have the option to send credit card payments by mail. Be mindful of the address you send it to as it varies by credit card.