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Canadian Imperial Bank of Commerce (CIBC)
Written by Lauren Brown
Last updated on June 12, 2026
Fact Checked
FinlyWealth rating
🏅
4.1
Products they offer:
Best for:
CIBC is best for Canadians looking for a traditional banking experience with a broad range of products. It may be especially appealing for customers who value a strong mobile banking experience but still want the option to visit a branch when needed.
Overview
Known as CIBC, the Canadian Imperial Bank of Commerce sits among the biggest banks in Canada. Customers seeking full-service banking can access a range of banking, borrowing and investing options. Its product lineup is comparable to the other major banks, though some of its savings rates and fees are less competitive.
CIBC’s banking includes accounts for students, seniors, foreign workers, and newcomers to Canada. The CIBC Smart Account is one of its core everyday banking products and comes with a monthly fee rebate when customers maintain the minimum balance. While it may appeal to those who qualify, other customers might find more value elsewhere.
The bank has a wide selection of credit cards including those for cash back, travel, Aeroplan, Aventura and Costco. Its borrowing options are also comprehensive including mortgages, personal loans, lines of credit and home equity borrowing. CIBC’s product lineup as well as its highly rated online and mobile banking tools make the bank a well-rounded choice for Canadians looking to build a banking relationship with a single institution.
Pros
- Broad product lineup for both banking and investing options as well as borrowing
- Strong credit card selection
- Fee rebates available for eligible accounts
- Highly rated mobile banking tools
- Access to US dollar and cross-border banking
Cons
- Monthly account fees are high for customers who do not qualify for fee rebates
- Lower relative savings rates compared to many online banks
- Mixed customer reviews surrounding service wait times and issue resolution
- Few no-fee banking options
Product Reviews
Savings Accounts
OPEN ACCOUNT
on CIBC's website
Welcome Bonus
N/A
Regular Interest
Up to 0.6%
Monthly Fee
$0
The CIBC eAdvantage® Savings Account incentivizes regular saving and charges no monthly fee. Earning interest on every dollar, the account is more accessible than savings accounts that require a minimum balance.
The eAdvantage® Savings Account also offers Smart Interest, which pays customers an extra 0.25% when they increase their balance by $200 per month. This feature improves the account’s value proposition for those who regularly add to their savings. The total ongoing interest rate does, however, remain modest compared to some of the promotional rates you can earn elsewhere. The real value in this account is for existing CIBC customers who want to keep their savings at the same institution where they regularly bank.
- Earn regular interest1 on your entire balance plus Smart Interest if you save at least $200 during the month2
- No monthly fee
- $5 fee per transaction3 including debit purchases and withdrawals at CIBC
- US ATMs within the Plus™ or Visa™ network: $3 + 2.5%
- Outside Canada and the Plus™ or Visa™ ATM network: $5 + 2.5%
Chequing Accounts
OPEN ACCOUNT
on CIBC's website
Welcome Bonus
N/A
Regular Interest
Up to 0%
Monthly Fee
$4
Account Type
Chequing • Personal
The CIBC Everyday® Chequing Account is a lower-cost chequing account made for Canadians who have lighter banking needs. Its $4 monthly fee includes 18 transactions per month, making it ideal for those who do not rely heavily on their account each day. Those who use their chequing account frequently could find the account limiting and may be better off selecting one without a cap on the number of transactions.
If you want basic chequing access from a major bank and don’t want to pay for an expensive monthly plan, the Everyday® Chequing might be the right fit. However, consider reviewing your transactions as there may be more value from an unlimited chequing account or a no-fee digital banking option.
- 18 transactions1, 2 included per month with an additional charge of $1.25 thereafter
- No fee for Interac e-Transfers2
- Receive alerts with CIBC Smart Balance Alert™, 4
- US ATMs within the Plus™ or Visa™ network: $3 + 2.5%
- Outside Canada and the Plus™ or Visa™ ATM network: $5 + 2.5%
Account Fees
Monthly Fee
$4
eStatement
Included
ATM Fees
Own Network
$0
Canadian ATMs
$2
International
$5
CIBC Smart Account
CIBC Smart Account
3.9 Our rating
OPEN ACCOUNT
on CIBC's website
Welcome Bonus
Bundle to earn up to $850†,‡ in value
Regular Interest
Up to 0%
Monthly Fee
$16.95 (waivable)
Account Type
Chequing • Personal
The CIBC Smart Account is a practical option for those who use their chequing account frequently. Featuring unlimited transactions and rebates starting at one non-CIBC ATM withdrawals, the account offers other perks for those customers who have a higher relationship balance with the bank.
Starting at the lowest tier, it is possible to receive a monthly fee rebate on up to 3 accounts when you maintain an end-of-day balance of $4,000. This feature improves the account’s overall value, particularly for those who already plan to keep extra cash with CIBC.
As a strong fit for existing CIBC customers, the Smart Account is best for those who want unlimited everyday banking and access to in-person support. If, however, you value lower fees and do not qualify for the fee rebate, the monthly fee is relatively high and can make other lower-cost chequing accounts more appealing.
Step 1: Open a CIBC Smart Account and set up one recurring direct deposit for a minimum of $500 within two months. The direct deposit should be from your employer, the government or a pension.
Step 2: Get $500 with your Smart Account plus as much as $350 with a CIBC Dividend Visa Infinite Card with qualifying actions†,‡ Earn 10% cashback in an amount up to $200 on net purchases of up to $2,000‡. Earn $50 in a cashback bonus by setting up your first pre-authorized payment.
- Tiered banking depending on your eligible CIBC balance
- Fee waiver for up to 3 accounts depending on your tier1,2
- Unlimited transactions5
- No fee for Interac e-Transfers6
- Annual fee credit card rebate for higher tiers
- US ATMs within the Plus™ or Visa™ network: $3 + 2.5%
- US ATM network charge outside of the Plus™ or Visa™ network: $5 + 2.5%
- Rebate on one or more non-CIBC ATM withdrawal fee each month depending on your tier8,9
Account Fees
Monthly Fee
$16.95
eStatement
Included
ATM Fees
Own Network
$0
Canadian ATMs
$2
International
$5
Credit Cards
APPLY NOW
on CIBC's website
Welcome Bonus
Up to 100,000 Aeroplan® points
Annual Fee
$599
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660Good
725⁎Very Good
760⁎Excellent
3.2/5
The CIBC Aeroplan Visa Infinite Privilege Card is ideal for frequent Air Canada flyers who want to maximize their Aeroplan points and enjoy premium travel perks. With 2 points per $1 spent on Air Canada purchases and free checked baggage on every flight, this card offers significant value for those who travel often. Additionally, the extensive travel insurance and unlimited Maple Leaf lounge access make it a solid choice for high-income individuals looking for convenience and protection during their travels. However, the high annual fee and income requirements mean it's best suited for those who can take full advantage of its Air Canada-specific benefits.
Pros
- Solid optimization
- Air Canada perks
- Unlimited airport lounge access
- Comprehensive insurance
Cons
- High annual fee
- High income requirements
- Limited reward value
Rewards
- 2 Aeroplan® points per $1 spent on Air Canada and Air Canada Vacations if they are in the first $100k transactions of the year
- 1.5 Aeroplan® points per $1 spent on gas, groceries, travel and dining if they are in the first $100k transactions of the year
- 1.25 Aeroplan® point per $1 spent on all other purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$500,000
Travel Medical Insurance (64 & under)
31 daysTravel Medical Insurance (65 to 75)
10 days
Flight Delay
$1,000Baggage Delay
$1,000
Trip Cancellation
$2,500
Trip Interruption
$5,000
Lost or Stolen Baggage
$1,000
Hotel Burglary Insurance
$2,500
Purchase Protection
180 days
Extended Warranty
Up to 2 years.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Car Rental Damage & Theft
yes
Mobile Device Insurance
$1,500
Benefits
Details
Airport Lounge - Maple Leaf and AirCanada Cafes
Access select Maple Leaf Lounges™ and Air Canada Cafés™, plus get 6 complimentary lounge visits per year per cardholder through Visa Airport Companion Program.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations
Car Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.
Visa Infinite Exclusive Benefits
Exclusive offers.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Status lift
Reach Aeroplan Elite™ Status sooner by earning Status Qualifying Miles and Status Qualifying Segments with purchases made on your accountStatus lift
Complimentary upgrade to Avis® President's Club
Companion Voucher
Receive an Annual Worldwide Companion Pass from $99 to a max of $599 (plus taxes, fees, charges and surcharges) when you spend $25,000 on your card
Priority Travel
Priority Check-in, Priority Boarding and Priority Baggage Handling for you, your authorized users and up to 8 companions on the same flight.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Free first checked bag
Enjoy a free first checked bag for you, authorized users and up to 8 companions every time you fly with Air Canada
Eligibility
Credit Score
Very GoodAnnual Income
$150,000 personal or $200,000 household
APPLY NOW
on CIBC's website
Welcome Bonus
Up to 50,000 Aeroplan® points
Annual Fee
$139 $0
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660Good
725⁎Very Good
760⁎Excellent
3.3/5
The CIBC Aeroplan Visa Infinite Card is great for Air Canada travelers who want to rack up Aeroplan points and enjoy perks like free checked bags and preferred pricing on flight redemptions. With solid reward rates in key spending categories like gas, groceries, and Air Canada purchases, this card offers decent returns. Additionally, the first-year annual fee waiver and comprehensive travel insurance make it a solid option for those looking for value without the upfront cost. However, its highest value is for people who frequently travel with Air Canada and make use of Aeroplan rewards, especially for flights.
Pros
- Generous welcome bonus
- High reward rates
- Air Canada perks
- Aeroplan flight preferred pricing
Cons
- Income requirements
- Limited redemption value
Rewards
- 1.5 Aeroplan® points per $1 spent on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
- 1 Aeroplan® point per $1 spent on all other purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$500,000Travel Medical Insurance (64 & under)
15 daysTravel Medical Insurance (65 to 75)
3 daysFlight Delay
$500Baggage Delay
$500Trip Cancellation
$1,500Trip Interruption
$2,000Lost or Stolen Baggage
$500Hotel Burglary Insurance
$2,500Purchase Protection
90 daysExtended Warranty
Up to 1 yearCar Rental Damage & Theft
yesMobile Device Insurance
$1,000
Benefits
Details
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stationsCar Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.Visa Infinite Exclusive Benefits
Exclusive offersStatus lift
Reach Aeroplan Elite Status sooner: Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $10,000 in eligible purchases made on your cardFree first checked bag
Enjoy a free first checked bag for you, authorized users and up to 8 companions every time you fly with Air Canada
Discount
Primary cardholders can often book flight rewards for even fewer points
Free Extra Night at Hotels
Extra night free for every 3 hotel nights redeemed with Aeroplan points
Eligibility
Credit Score
Very GoodAnnual Income
$60,000 personal or $100,000 household
APPLY NOW
on CIBC's website
Welcome Bonus
Up to 10,000 Aeroplan® points
Annual Fee
$0
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660Good
725⁎Very Good
760⁎Excellent
3.7/5
The CIBC Aeroplan Visa Card is an excellent no-fee option for Aeroplan members who want to earn miles without an annual fee. Its solid earn rates on essential categories like gas and groceries make it easy to accumulate points quickly. The card also offers Preferred Pricing on Aeroplan redemptions, giving cardholders more value when they book flights with Air Canada. For someone looking for an entry-level Aeroplan card, this is a strong choice, especially with its generous welcome bonus.
Pros
- No annual fee
- Solid Rewards
- Aeroplan flight preferred pricing
Cons
- Low reward rate
- Limited non-loyalty value
Rewards
- 1 Aeroplan® point per $1 spent on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
- 1 Aeroplan® point per $1.50 spent (0.66 point per $1) on all other purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$100,000Purchase Protection
90 daysExtended Warranty
Up to 1 yearCar Rental Damage & Theft
Up to $65k car MSRP
Benefits
Details
Discount
Primary cardholders can often book flight rewards for even fewer points
Extra points
Earn points twice at over 150 Aeroplan partner brands and over 170 online retailers through the Aeroplan eStore
Eligibility
Credit Score
Very GoodAnnual Income
$15,000 household
APPLY NOW
on CIBC's website
Welcome Bonus
Up to 60,000 Aventura points
Annual Fee
$139 $0
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660Good
725⁎Very Good
760⁎Excellent
2.6/5
The CIBC Aventura® Gold Visa Card* is an excellent choice for travelers who want a flexible rewards program with good travel perks and easy point redemptions for flights. However, the lower point value outside of travel redemptions and the annual fee may be drawbacks for those not focused on maximizing travel rewards.
Pros
- High travel rewards
- Flexible point redemptions
- Airport lounge access
- NEXUS rebate
Cons
- Poor non-travel rewards
- Annual fee
- Limited insurance
Rewards
- 2 points per $1 spent on travel purchased through the CIBC Rewards Centre
- 1.5 points per $1 spent at eligible gas stations, electric vehicle charging stations, grocery stores and drug stores
- 1 point per $1 spent on all other purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$500,000Travel Medical Insurance (64 & under)
15 daysFlight Delay
$500Baggage Delay
$500Lost or Stolen Baggage
$500Hotel Burglary Insurance
$2,500Purchase Protection
90 daysExtended Warranty
Up to a yearCar Rental Damage & Theft
up to car value of $65kMobile Device Insurance
$1,000
Benefits
Details
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stationsCar Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.Airport Lounge - Dragon Pass
Airport lounges Visa Airport Companion Program managed by DragonPass International + 4 Free complimentary visits
Nexus Program Rebate
Up to $100 statement credit for Nexus Application fee every 4 years
Eligibility
Credit Score
Very GoodAnnual Income
$15,000 household
APPLY NOW
on CIBC's website
Welcome Bonus
Up to 80,000 Aventura points
Annual Fee
$499
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660Good
725⁎Very Good
760⁎Excellent
3/5
The CIBC Aventura Visa Infinite Privilege Card offers a well-rounded suite of travel benefits, making it ideal for frequent travelers. The annual $200 travel credit, complimentary lounge access, and comprehensive insurance package ensure you’re covered for both convenience and protection. Plus, the ability to earn up to 3 points per dollar spent and redeem them at high values for flights makes this card an excellent choice for those who value travel rewards. However, it comes with a high annual fee and income requirements, so it's best suited for those who can fully take advantage of its perks.
Pros
- Generous rewards
- Valuable travel perks
- High point value
- Comprehensive insurance
Cons
- High annual fee
- High income requirements
Rewards
- 3 points per $1 spent on travel purchased through the CIBC Rewards Center
- 2 points per $1 spent on dining, entertainment, gas, transportation, and groceries if they are in the first $200k transactions of the year
- 1 point per $1 spent on all other purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$500,000Travel Medical Insurance (64 & under)
31 daysTravel Medical Insurance (65 to 75)
10 daysFlight Delay
$500Baggage Delay
$500Trip Cancellation
$2,500Trip Interruption
$5,000Lost or Stolen Baggage
$1,000Hotel Burglary Insurance
$2,500Purchase Protection
180 daysExtended Warranty
Up to 2 yearsCar Rental Damage & Theft
up to car value of $65kMobile Device Insurance
$1,500
Benefits
Details
Airport Lounge - Dragon Pass
Airport lounges Visa Airport Companion Program managed by DragonPass International + 6 Free complimentary visitsGas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stationsCar Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.Nexus Program Rebate
Up to $100 statement credit for Nexus Application fee every 4 yearsVisa Infinite Exclusive Benefits
Exclusive offers.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Travel Credit
Annual $200 travel credit to use at the CIBC Rewards Center
Eligibility
Credit Score
Very GoodAnnual Income
$150,000 personal or $200,000 household
APPLY NOW
on CIBC's website
Welcome Bonus
Up to 60,000 Aventura points
Annual Fee
$139 $0
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
2.8/5
The CIBC Aventura® Visa Infinite Card* offers significant value for travelers with its high rewards on travel spending and flexible point redemptions, especially when used for flights. However, the high income requirements and limited value outside of travel redemptions may be drawbacks for some users. The extensive insurance coverage and airport lounge access make this card attractive for frequent travelers.
Pros
- First-year fee rebate
- Generous welcome bonus
- High travel points
- Flexible redemptions
- Airport lounge access
- Comprehensive coverage
Cons
- High income requirements
- Poor rewards outside travel
Rewards
- 2 points per $1 spent on travel purchased through the CIBC Rewards Centre
- 1.5 points per $1 spent at eligible gas stations, electric vehicle charging stations, grocery stores and drug stores
- 1 point per $1 spent on all other purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$500,000Travel Medical Insurance (64 & under)
15 daysTravel Medical Insurance (65 to 75)
3 daysFlight Delay
$500Baggage Delay
$500Trip Cancellation
$1,500Trip Interruption
$2,000Lost or Stolen Baggage
$500Hotel Burglary Insurance
$2,500Purchase Protection
90 daysExtended Warranty
Up to a yearCar Rental Damage & Theft
up to car value of $65kMobile Device Insurance
$1,000
Benefits
Details
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stationsCar Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.Airport Lounge - Dragon Pass
Airport lounges Visa Airport Companion Program managed by DragonPass International + 4 Free complimentary visitsNexus Program Rebate
Up to $100 statement credit for Nexus Application fee every 4 yearsVisa Infinite Exclusive Benefits
Exclusive offers
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
APPLY NOW
on CIBC's website
Welcome Bonus
Up to 12,500 Aventura points
Annual Fee
$0
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
2.3/5
The CIBC Aventura® Visa Card* offers a no-fee way to earn travel rewards with flexible redemption options. Its welcome bonus and points on everyday categories make it appealing for budget-conscious users. However, the limited insurance coverage and low base earn rate may not make it the best choice for those looking for higher rewards or comprehensive benefits.
Pros
- No annual fee
- Rewards on everyday purchases
- Fuel savings
- Flexible redemptions
Cons
- Limited insurance
- Low base earn rate
Rewards
- 1 point per $1 spent on travel purchased through the CIBC Rewards Centre
- 1 point per $1 spent at eligible gas stations, electric vehicle charging stations, grocery stores and drug stores (up to $6,000 spent combined per year)
- 0.5 point per $1 spent on all other eligible purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$100,000Purchase Protection
90 daysExtended Warranty
Up to a yearCar Rental Damage & Theft
up to car value of $65k
Benefits
Details
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations
Eligibility
Credit Score
GoodAnnual Income
$15,000 household
APPLY NOW
on CIBC's website
Welcome Bonus
Earn a total of up to 70,000 Aventura Points (up to $1,600 in travel value†)
Annual Fee
$120 $0
Interest Rates
19.99%(1) / 21.99%(1)
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
2.7/5
If your business flies Air Canada regularly, this card pays for itself quickly. You get 2x Aeroplan points across a broad set of categories — travel, dining, shipping, telecom — plus tangible perks like free checked bags and Maple Leaf Lounge guest passes. The welcome offer of up to 75,000 points is generous, and the first-year fee is rebated. The catch: bonus earning is capped at $80,000 in annual purchases across the entire account, and the card’s value drops sharply if you don’t redeem through Aeroplan. Not the right pick for businesses that want cashback simplicity or fly with multiple airlines.
Pros
- First-year annual fee rebate
- Welcome offer up to 75,000 Aeroplan points
- Free first checked bag for the cardholder + companions
- Up to 4 Maple Leaf Lounge one-time guest passes per year (earned via spend)
Cons
- $180 annual fee
- Best value is for Air Canada / Aeroplan loyalists
- Bonus earning capped at $80,000 annual spend
- Welcome bonus requires significant spend to maximize ($40,000 in year one)
- Not a simple “cash back” style card for businesses that want easy redemption
Rewards
- 2 points for every $1 spent on eligible travel purchased through the CIBC Rewards Centre.2 (CIBC by Expedia3)
- 1.5 Points for every $1 spent on eligible gas and electric vehicle charging4. Accelerate your savings with up to 10 cents off per litre on eligible gas.
- 1.5 points for every $1 spent on travel such as airlines, hotels, car rental agencies, cruise lines, travel agencies or tour operators, tour buses or bus lines4
- 1.5 points for every $1 spent on transportation such as local and suburban commuter passenger transportation, ferries, local water transportation, railways, limousines or cabs4
- 1.5 points for every $1 spent on eligible transportation services such as parking, tolls and truck rentals4
- 1 point for every $1 spent on all other purchases5
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 yearCommon Carrier Travel Accident Insurance
$500,000Trip Cancellation
$1,000Trip Interruption
$2,000Flight Delay
$500Baggage Delay
$500Lost or Stolen Baggage
$500Car Rental Damage & Theft
Up to 48 days (Max car MSRP of $85K)
Eligibility
Credit Score
GoodAnnual Income
$35,000 personal
APPLY NOW
on CIBC's website
Welcome Bonus
N/A
Rewards Rate
No Rewards
Annual Fee
$0
Interest Rates
CIBC Prime plus 1.5% / CIBC Prime plus 1.5%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
2.7/5
Not a rewards card — this is a low-cost credit line for businesses that need to carry a balance or manage cash flow. With a variable rate as low as Prime + 1.5% and no annual fee, it’s one of the cheapest ways to borrow on a business credit card. There are no points, no perks, and no welcome offer. But if your priority is affordable financing rather than earning rewards, this card undercuts most of the market on interest costs. Good for newer businesses building credit or seasonal businesses that need flexible short-term financing.
Pros
- No annual fee
- Low interest rates
- Accessible income requirement
Cons
- No rewards
- No welcome offer
- Interest rates fluctuate
- Lacks standard insurance categories
Rewards
No rewards earned on purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$100,000
Benefits
Details
Car Rental Discount
Get up to 30% off base rates with Avis® Pay Now or up to 35% off base rates with Budget
Eligibility
Credit Score
GoodAnnual Income
$15,000 personal
APPLY NOW
on CIBC's website
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
2/5
The CIBC Costco Mastercard offers one of the highest cashback rates on restaurant purchases in Canada, making it an excellent choice for optimizing rewards in this specific category, especially since it has no annual fees. If you use Costco Gas or shop on Costco Online, there is a decent cashback rate as well. However, for other categories, the cashback rate is average. Notably, you will be better off using other credit cards for warehouse Costco purchases, as you will only earn 1% cashback. If you are looking for no annual fee credit cards only, this is a good card to go for.
Pros
- Decent overall reward rates
- High dining optimization
- Mobile device insurance
Cons
- Limited benefits
- No Costco warehouse optimization
Rewards
- 3% cash back on Restaurants
- 3% cash back on Costco Gas stations and 2% cash back on non-Costco Gas up to a combined maximum of $5,000 in spending (max $150 cashback per year)
- 2% cash back on Costco.ca purchases up to $8,000 in spending (max $160 cashback per year)
- 1% on everything else
Insurance
Coverage
Mobile Device Insurance
$1,000Purchase Protection
Up to 90 daysExtended Warranty
Up to a year
Eligibility
Credit Score
GoodAnnual Income
$15,000 personal
APPLY NOW
on CIBC's website
Welcome Bonus
Earn up to $400 in value†
Annual Fee
$99 $0
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660Good
725⁎Very Good
760⁎Excellent
2.8/5
The CIBC Dividend Platinum® Visa Card* offers great cash back rates, especially for gas and groceries, with a lower annual fee of $99. It's a solid option for households with lower income requirements, and the fuel savings with Journie Rewards add extra value. However, the limited insurance coverage and the annual fee might make other cards more attractive if you're looking for more benefits.
Pros
- Generous welcome bonus
- Solid cashback rates
- Fuel savings
- Rental car savings
- Low income requirements
Cons
- Limited insurance
- Annual fee
Rewards
- 3% cashback on gas and groceries if they are in the first $80K transactions of the year and $20K of categorical spends
- 2% cashback on transportation, dining and recurring bills if they are in the first $80K transactions of the year and $20K of categorical spends
- 1% cashback on all other eligible card purchases
Insurance
Coverage
Car Rental Damage & Theft
yesCommon Carrier Travel Accident Insurance
$500,000Purchase Protection
90 daysExtended Warranty
Up to a year
Benefits
Details
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stationsCar Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.
Eligibility
Credit Score
Very GoodAnnual Income
$15,000 household
APPLY NOW
on CIBC's website
Welcome Bonus
Earn up to $350 in value†
Annual Fee
$120 $0
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.4/5
The CIBC Dividend® Visa Infinite Card* is an excellent choice for those who spend heavily on gas, EV charging, and groceries, offering one of the best cash back rates in those categories. The 10% cash back welcome offer sweetens the deal for new cardholders, though the high income requirements and annual fee may not make it the best fit for everyone. If you can meet the spending and income criteria, it provides solid value, especially with no limits on the total amount of cash back you can earn.
Pros
- First-year fee rebate
- High cashback rates
- Unlimited cashback earnings
- Fuel savings
- Car rental discounts
Cons
- High income requirements
- Annual fee
- Lower insurance coverage
Rewards
- 4% cashback on Gas and Groceries if they are in the first $80K transactions of the year and $20K of categorical spends
- 2% cashback on Transportation, Dining and Recurring payments if they are in the first $80K transactions of the year and $20K of categorical spends
- 1% cashback on all other credit card purchases.
Insurance
Coverage
Travel Medical Insurance (64 & under)
$5 Million per person, per trip. 10 day coverageCar Rental Damage & Theft
$65KCommon Carrier Travel Accident Insurance
$500KMobile Device Insurance
$1000 per person, per occurrencePurchase Protection
90 daysExtended Warranty
Up to a year
Benefits
Details
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stationsCar Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
APPLY NOW
on CIBC's website
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
2.6/5
The CIBC Dividend® Visa Card* is a solid option for those looking for a no-fee credit card with decent rewards, particularly for groceries. However, the lower base earn rate and limited insurance benefits make it less competitive for general spending or travel protection compared to other options.
Pros
- No annual fee
- Decent grocery earnings
- Fuel savings
- Car rental discounts
- On-demand redemptions
Cons
- Low base earn rate
- Limited insurance coverage
Rewards
- 2% cashback on groceries if they are in the first $80k transactions of the year and $20k of categorical spends
- 1% cash back on eligible gas, electric vehicle charging, transportation, dining and recurring payments if they are in the first $80k transactions of the year and $20k of categorical spends
- 1% cashback on all other eligible card purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$500,000Purchase Protection
90 daysExtended Warranty
Up to a year
Benefits
Details
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stationsCar Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.
Eligibility
Credit Score
GoodAnnual Income
$15,000 household
APPLY NOW
on CIBC's website
Welcome Bonus
Balance transfer 0% interest for up to 10 months with a 1% transfer fee‡
Rewards Rate
No Rewards
Annual Fee
See Rates
Interest Rates
13.99% / 13.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4/5
A nice low rate card for everyday spending.
Pros
- Low interest rates
- Balance transfer welcome bonus
Cons
- No rewards
- Missing standard coverage categories
Rewards
No rewards earned on this card
Insurance
Coverage
Common Carrier Travel Accident Insurance
$100,000
Benefits
Details
Gas Discount†
Save up to 10 cents per litre on gas at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations with CIBC and Journie Rewards.Discount††
Free Skip+ membership, welcome voucher, and monthly voucher available. Conditions apply.
Eligibility
Credit Score
GoodAnnual Income
N/A
Customer Experience
3.1/5
The overall customer experience at CIBC is mixed. Those making a query via phone say it is “difficult to connect with a human representative,” and even if they can get into the queue, it takes over an hour to get through it.
Bringing up the bank’s score is its mobile application. According to the JD Power 2026 Canada Banking Mobile App Satisfaction Study, CIBC received the top rank in online banking satisfaction for a second straight year. With many Canadians choosing to manage their finances digitally, this factor adds to the bank’s overall customer experience rating.
Rating Methodology
How We Rate Canadian Imperial Bank of Commerce (CIBC)
Our ratings are based on a comprehensive evaluation of each financial institution across multiple categories. We assess the quality and competitiveness of their products, fees, interest rates, customer experience, and overall value proposition.
Overall Rating
A weighted average reflecting the institution's performance across all evaluated categories.
Product Offerings
Evaluates the breadth and quality of available products including credit cards, savings accounts, and chequing accounts.
Fees & Rates
Compares monthly fees, interest rates, and fee waiver options against industry standards.
Customer Experience
Assesses the quality of customer support, digital banking tools, and overall user experience.
Rating Scale: All ratings are on a scale of 0 to 5, where 5 represents exceptional performance and 0 represents significant concerns. Ratings are reviewed and updated regularly to reflect changes in products, pricing, and services.
Frequently Asked Questions
Yes. CIBC offers both a Canada-based US Dollar account and a US-based US Dollar account.
CIBC is among the biggest banks in Canada but it does not sit at the top of the list. When ranked by size, the bank comes in at number five with approximately USD 725 billion in total assets.