The Canadian Imperial Bank of Commerce (CIBC) is the issuing authority of the CIBC Credit Card Canada. CIBC
further divides its CIBC visa card collection into cards specifically meant for everyday users, travelers, small businesses and
reward chasers.
CIBC: History and Present
In 1867, Canada’s Toronto province witnessed the opening of the Canadian Bank of Commerce. In 1875, another bank called the
Imperial Bank of Canada opened in the same region. Finally, in 1961 both banks merged and the Canadian Imperial Bank of Commerce
(CIBC) came into existence.
In terms of deposit value, CIBC is awarded the coveted status of the fourth largest bank in Canada. It has a wide network of
1048 branches in Canada and is currently headquartered in Toronto.
CIBC Credit Card Canada: Common Features
The common features of the CIBC Credit Card Canada are:
- Enhanced card protection through the latest chip technology.
- CIBC CreditSmart: A 360 degree user friendly card tracking system that
delivers online spending reports, detailed monthly statements, instant report on credit status and fraud alerts.
- Common carrier accident insurance worth $500,000.
- Worldwide cash advances.
CIBC Credit Cards Canada: Major Types
Popular CIBC visas that are making waves in the credit card market are:
CIBC Aerogold VISA Card - Recommended for travelers
- Minimum credit limit of $5,000.
- Annual fee of $120.
- Up to three additional cards for $50 each.
- Regular interest rate of 19.5%.
- Applicants’ household income should be $35,000 or more.
CIBC Dividend Card - Suited for reward hunters
- Cardholders earn Dividend Dollars for credit card purchases that can be exchanged for free gifts..
- Minimum credit limit of $5,000.
- Cash back of up to 1% on online purchases.
- Current rate of interest is 19.5%.
- Free supplementary cards, only three per year.
- Applicants must have minimum household income of $15,000.
CIBC Platinum VISA Card - Meant for daily use
- Credit limit of $5,000.
- No annual fee.
- Interest rate of18.5%.
- Applicants with household income of a minimum of $35,000 are eligible to apply.
CIBC Classic VISA Card - For students
- Minimum credit limit of $500.
- No annual fee.
- Interest rate of18.5%.
- Applicants with minimum household income of $1,200 can apply.
‘CIBC Credit Card Canada’ and ‘CIBC Visa’ are the trademarks of The Canadian Imperial Bank of Commerce, who can be
found at www.cibc.com