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CIBC Select Visa
Welcome Offer
Balance transfer offer
Annual Fee
$0 annual fee for the first year ($29 thereafter)
Purchase Interest Rate
Cash Advance Rate
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Get an exceptionally low everyday interest rate and a 0% balance transfer rate with this low-fee credit card.

Get a 0% interest rate on balance transfers for the first 10 months with a 1% transfer fee. Plus, get a first year annual fee rebate.

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The CIBC Select Visa offers a low 13.99% interest rate for purchases and cash advances. It also comes with a 0% balance transfer rate so you can save money by moving your outstanding balance over from a high-interest card. The downside of this card is that it comes with relatively few benefits and you won’t earn points or cashback when you spend money.

30-second take

  • Get this card if you’re looking to save money on interest or you want a low introductory balance transfer rate.
  • Choose something else if you would like to earn rewards or you’d rather not pay an annual fee.
  • This card requires you to make a minimum household income of $15,000.

The basics

If you’re looking to get a low interest rate on purchases and balance transfers, then the CIBC Select Visa could be a good fit for you.

  • Low interest rate. You’ll only have to pay 13.99% interest for purchases and cash advances (which is about 6% lower than with an average card).
  • Low introductory balance rate. You can qualify for a 0% introductory interest rate on balance transfers in your first 10 months (with a 1% transfer fee).
  • Common carrier insurance. You’ll be able to take advantage of up to $100,000 in accident coverage when you travel on buses, planes, ferries and trains.
  • Free additional cards. You can enjoy up to three extra cards on your account for no annual additional fee.

The perks

  • First annual fee waiver. Get your first annual fee for this card waived and pay only $29 per year in subsequent years to maintain your card.
  • Car rental discounts. Save up to 25% at participating Avis and Budget locations in Canada and the US when you pay for your rental with your CIBC Select Visa.
  • Fraud alerts. Get instant notifications if suspicious activity is detected on your account.
  • 24/7 support. Call CIBC at any time of day or night to troubleshoot issues with your account.
  • Easy to qualify. You’ll only need to make an annual household income of $15,000 and be a resident of Canada over the age of majority in your province to qualify for this card.
  • Optional benefits. Pay an additional fee to get travel medical insurance or payment protection added to your plan.

What to watch out for

  • Annual fee. You’ll have to pay $29 per year to maintain this card.
  • No rewards or cashback. You won’t earn any rewards or cashback when you spend money on your CIBC Select Visa.
  • No basic insurance. You won’t get basic insurance such as purchase protection or extended warranty coverage included with this card.
  • No extra perks. You won’t get extra benefits such as travel insurance, roadside assistance or mobile device protection when you sign up for the CIBC Select Visa.
  • Limits on balance transfers. You can only transfer up to 50% of your assigned credit limit on your CIBC Select Visa when you bring a secondary balance over.

CIBC Select Visa interest rates

Interest TypeInterest Rate
Purchase interest rate13.99%
Cash advance rate13.99%
Standard balance transfer rate13.99%

What should I know before I apply?

Eligibility requirements

To apply for a CIBC Select Visa, you will need to meet the following criteria:

  • Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces)
  • Have an annual household income of $15,000

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. Click “Go to Site” on this page to be directed to your CIBC Select Visa 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 Select Visa is a low-interest card that could be a good fit for you if you want to save money on interest instead of earning rewards. It comes with a 13.99% interest rate and a 0% introductory balance rate. Just be aware that this card offers very few benefits and you’ll have to pay an annual fee of $29 to keep your account active.

Frequently asked questions about the CIBC Select Visa

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