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CIBC bizline Visa Card for Business review

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CIBC bizline Visa Card for Business
Welcome Offer
N/A
Rewards
N/A
Annual Fee
$0
Purchase Interest Rate
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Cash Advance Rate
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Summary

Get a high credit limit and pay less interest on the purchases you make with this fee-free business card. 

Pay less on your outstanding balance with interest rates as low as the CIBC prime rate + 1.5%

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The CIBC bizline Visa Card for Business is similar to a line of credit that you can instantly access by using your credit card. This card doesn’t offer any rewards but you’ll get a lower interest rate on the purchases you make than you would with a typical card. You’ll also get common carrier insurance and tools to track and manage your business expenses for no annual fee.

30-second take

  • Think about this card if you own a small business and don’t want to pay an annual fee.
  • Choose something else if you would prefer to earn rewards or get comprehensive benefits.
  • The minimum annual income required to qualify for this card is $35,000.

The basics

If you’re looking for a no-frills credit card that functions as a line of credit that you can draw from for daily purchases, then you could benefit from the CIBC bizline Visa Card for Business.

  • No annual fee. Avoid paying an annual fee to keep your account in good standing.
  • Low interest. Pay less on your outstanding balance with interest rates as low as the CIBC prime rate + 1.5%.
  • High credit limit. Access up to $50,000 on your card to help pay for business expenses.
  • Common carrier insurance. Get up to $100,000 in insurance coverage when you travel by plane, ferry, train or bus.

The perks

  • Manage your account. Use CIBC‘s CreditSmart program to help manage, track and organize your credit card activity.
  • Security features. Protect yourself from fraud with special features like instant alerts, encrypted chip-enabled cards and Visa Checkout services.
  • Many additional cards. Order up to nine additional cards on your account.
  • No fee for additional cards. Avoid paying an annual fee to take out additional cards.

What to watch out for

  • No cash back or rewards. You won’t earn any points or cash back when you spend money on your business.
  • Few benefits. This card doesn’t offer purchase protection or extended warranty coverage.

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

If you want to pay a decent interest rate on the money you borrow for your business, then you might benefit from the CIBC bizline Visa Card. This card helps you manage and track your business expenses for no annual fee. The downside is that you won’t be able to collect rewards on the money you spend and you’ll get very little in the way of benefits.

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