Skip to content
Mr. Loonie
CIBC Classic Visa Card

CIBC Classic Visa Card

Best for: People who want a basic card with no annual fee

The balance you carry
Interest you’d pay in a year
$660
On a $3,000 balance at 21.99%

Ranked #56 of 176 for low interest. See the list

See how we worked it out
Purchase rate
21.99%
Annual fee
None
Apply now on CIBC’s site (opens in a new tab)
Needs $15,000 household income
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from CIBC’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

Is it for me? Interest Can I get it? Perks Fees Similar cards
3 quick questions

Is it for me?

Do you carry a balance from month to month?

Is your household income $15,000 or more?

Do you want to earn rewards on your spending?

Answer the 3 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: No annual fee It costs nothing to keep.

Watch for

  • Watch for: Earns no rewards If you pay in full each month, a no fee cash back card gives you more.
  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d pay in interest

On a balance of $3,000 that you carry for a year.

  • This card $660
    21.99% $3,000 carried all year
  • A typical card $630
    20.99% $3,000 carried all year

A late payment can end a promotional rate early. Simple yearly interest on a balance that stays the same. Banks charge interest monthly, so the real cost comes out a little higher.

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Household income $15,000 or more Issuer says
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Checked on Nov 8, 2026. Source

Mr. Loonie’s tip A balance transfer only helps if the balance shrinks. Set up an automatic payment so it goes down every month.

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Extended warranty Included
  • Purchase protection Included
  • Travel accident Included
  • Identity Theft Assistance
  • Save up to 25% at participating AVIS locations and at participating Budget locations in Canada and the U.S.
  • Emergency Card Replacement
  • Mobile wallets Apple Pay, Google Pay, Samsung Pay
Coverage limits

We haven’t recorded the coverage limits for this card yet. Read CIBC’s insurance certificate before you count on any coverage.

Not included

Not listed for this card: travel medical, trip cancellation, trip interruption, flight delay, lost baggage, car rental damage and mobile device.

Fees and interest

What it costs

Annual fee
None
Purchase interest
21.99%
Cash advance interest
22.99%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
None
Cash advance fee
$5.00
Balance transfer fee
3%, - Maximum - Intro Balance Transfer Fee of 1%
Over-limit fee
$29
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
22.99%
Source
Issuer page

Province differences

Quebec
Balance transfer rate: 21.99%. Cash advance rate: 21.99%. Over-limit fee: none.

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards

Purchase interest on each card. This card: 21.99%.

See all cards ranked by interest

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the CIBC Classic Visa Card?

There is no annual fee.

What income do I need?

CIBC asks for $15,000 in household income.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

21.99% on purchases. Cash advances are 22.99%.

Does it include insurance?

It lists extended warranty and purchase protection. Read the insurance certificate for the limits.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$660
interest a year
Apply now on CIBC’s site (opens in a new tab)
Compare
Compare is full