CIBC Dividend® Visa Infinite* Card Review
Earn 4% cash back on eligible gas and groceries
Earn 2% cash back on card purchases at Tim Hortons and Telus
Earn 1% cash back on all other card purchases.
- Annual Fee: $99. Each additional card (up to 3): $30 per year.
- Minimum Income Eligibility Requirement: $60,000
- Credit Score Required: Good to Excellent
- Welcome Offer: Get a first-year annual fee rebate and 10% cash back†
- Rewards: For the first 4 statements on total purchases of up to $2,000†. After that, get 4% cash back on eligible gas and grocery purchases^.
- Rewards Structure: 4% cash back on eligible gas and grocery purchases†. 2% cash back on Tim Hortons® and TELUS® purchases†. 1% cash back on all other purchases†.
- Additional Benefits: Valuable insurance included with your card†. Access exclusive benefits. The Visa Infinite program gives you access to luxury worldwide travel and hotel benefits†.
- Interest on Purchases: 19.99% | Interest on Cash Advances: 22.99% | Interest on Balance Transfers: 22.99%
About the CIBC Dividend® Visa Infinite* Card
The CIBC Dividend® Visa Infinite* Card is a high-earning cash back card that’s notable for its 4% earn rate on groceries and gas – two of common spending categories for most Canadians. Even better, new cardholders earn 10% cash back or the first 4 statements on total card purchases up to $2,000 (which works out to $200). The $99 annual fee is competitive in a class of cards that typically charge around $120/annually. Plus, this card comes with a first-year annual fee rebate, so signing up won’t cost you a thing.
A big selling feature is the generous insurance package included on this card. The CIBC Dividend Visa Infinite* Card includes comprehensive travel insurance (including Out-of-Province Emergency Travel Medical Insurance of up to $5 million per insured person), as well as trip interruption, flight delay, and baggage insurance – all valuable offerings for travellers. It also has Auto Rental Collision and Loss Damage Insurance, $500,000 Common Carrier Accident Insurance, and Purchase Security and Extended Protection Insurance.
These perks combined with the generous cash back offering and competitive annual fee make the CIBC Dividend® Visa Infinite* Card stand out from other premium credit cards.
CIBC Dividend® Visa Infinite* Card At A Glance
Welcome bonus: 10% cash back for the first 4 statements (up to $2,000 in total card purchases) + first year annual fee rebate Minimum income eligibility: $60,000 individual or $100,000 household
Annual fee: $99 (first year annual fee rebate) Credit score required: Good
Interest Rate on purchases: 19.99% Interest rate on cash advance: 22.99%
Rewards: 4% cash back on eligible gas and grocery purchases, 2% cash back on Tim Hortons® and TELUS® purchases, and 1% cash back on everything else
Card Features & Benefits
The CIBC Dividend® Visa Infinite* Card carries some excellent features by way of its limitless earning potential and extras, offered at a lower-than-average annual fee.
- Earn 4% cash back on eligible gas and groceries—two big spending categories for Canadians.
- Earn 2% cash back on card purchases at Tim Hortons and Telus.
- Earn 1% cash back on all other card purchases.
- Includes Out-of-Province Emergency Travel Medical Insurance of up to $5 million per insured person, trip interruption insurance, and flight delay and baggage insurance.
- Includes $500,000 Common Carrier Accident Insurance.
- Includes Auto Rental Collision and Loss Damage Insurance.
- Includes Purchase Security and Extended Protection Insurance.
- Competitive $99 annual fee (first year annual fee rebate).
- A welcome bonus worth almost $300: get 10% cash back for first four statements up to $2,000 + first-year annual fee rebate.
In addition to cash back rewards, carriers of this card have Out-of-Province Emergency Travel Medical Insurance of up to $5 million per insured person – an incredibly valuable offering for travellers. The policy is valid for the first 15 days of a trip if the covered person is age 64 or under – and you don’t even have to charge your trip to the card, which is a rarity.
The card also includes flight delay and baggage insurance, and trip interruption insurance — meaning that if your trip is disrupted due to an illness, injury or another insured risk, you’ll be covered for up to $2,000 per insured person for eligible trip expenses. However, you must charge the trip to your card in order for this part of the policy to be valid. Auto Rental Collision and Loss Damage Insurance is also part of the package, which can save you serious coin if you rent cars frequently.
The included $500,000 common carrier accident protection is not particularly useful. It provides coverage for accidents on a plane, ferry, train, or bus that result in death. The Purchase Security and Extended Protection Insurance is also a perk on most credit cards these days, so it’s a pretty standard offering.
Insurance aside, this card also gives you access to exclusive Visa Infinite benefits like Concierge, Dining Series, and Wine Country Program is included. It’s a special program geared to luxury travellers and provides access, offers, and upgrades associated with hotels, restaurants, and specialized experiences. If you like fancy things, you’ll be interested in the Visa Infinite program. But bear in mind that you’re footing the bill, so if you don’t travel much or luxury dining or hotels doesn’t appeal to you, it’s probably not a selling feature.
Pros and Cons
The biggest draw for the CIBC Dividend® Visa Infinite* Card is the impressive 4% cash back on eligible groceries and gas purchases. These two spending categories are frequently used and 4% is much higher than most cards offer. Also, the base rate of 1% beats out the typical 0.5% seen on most other cash back credit cards. However, the 2% category could include more (and/or better) retailers than only Tim Hortons and Telus. After all, there are only so many phones and coffees you can buy.
Most high-earning cash cards have an annual fee of $120, so $99 offers some nice savings off the bat (as does the first-year annual fee rebate). The welcome promotion of 10% cash back for the first four statements is super enticing, but be aware of the $2,000 cap (meaning the maximum you can earn is $200).
One downside: the CIBC Dividend® Visa Infinite* Card requires that you earn $60,000 annually as an individual (or $100,000/annually as a household) in order to be eligible to apply. If you can’t meet this threshold, you may want to look at CIBC Dividend Platinum® Visa* Card instead. It offers the same great cash back earn rate and annual fee but with a leaner, no-frills insurance package.
- Excellent welcome offer valued at almost $300 — get 10% cash back for first four statements up to $2,000 in total card purchases (up to $200 value) + first-year annual fee rebate ($99 value).
- Better than average 4% cash back rate on groceries and gas
- Better than average base rate — 1% cash back on all card purchases beats out many cards that default to 0.5% cash back.
- Robust travel insurance package
- Access to exclusive Visa Infinite benefits
- No limit on the total cash back you can earn
- Limited 2% cash back category
- Additional cards are $30 per year
- Higher minimum annual income eligibility requirement
While this card has a few shortcomings, the CIBC Dividend® Visa Infinite* Card offers an excellent earn rate of 4% on two of the top everyday spending categories—groceries and gas—with no limits on earnings. That coupled with a valuable welcome bonus and a lower-than-average annual fee makes this card a good contender for most Canadians looking to earn big on common purchases. Travellers will appreciate the impressive insurance package that’s included, and the Visa Infinite perks sweeten the pot. At $99 (with a first year annual fee rebate), there’s no reason not to give this card a try.