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Mr. Loonie
CIBC Dividend® Visa Card

CIBC Dividend® Visa Card

7.1
Good
Expert Score · 3 reviews How we score

Best for: Grocery shoppers who want cash back with no annual fee

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Yours:
Your own amounts, saved on this device only
Every year
$303

Ranked #107 of 176 for year one. See the list

See how we worked it out
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? What you’d earn Can I get it? Fees Similar cards
2 quick questions

Is it for me?

Is your household income $15,000 or more?

Do you pay your card off in full most months?

Answer the 2 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: 2% back on groceries
  • Good: No annual fee It costs nothing to keep.

Watch for

  • Watch for: Everything else earns 0.5% back That’s low for everyday spending.
  • 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 earn

With typical spending of $2,500 a month.

  • Groceries $192
    2% back $800 a month · $192 a year
  • Restaurants $30
    1% back $250 a month · $30 a year
  • Gas $30
    1% back $250 a month · $30 a year
  • Recurring bills $30
    1% back $250 a month · $30 a year
  • Travel $18
    1% back $150 a month · $18 a year
  • Everything else $39
    0.5% back $650 a month · $39 a year
  • Foreign currency $9
    0.5% back $150 a month · $9 a year
For you Year one Later years
Cash back you earn $348 $348
Annual fee $0 $0
Foreign currency fee2.5% on $1,800 a year −$45 −$45
Total $303 $303

Rows are rounded to the dollar.

What counts in each category
Groceries
2% back
Gas
1% back Including EV charging
Restaurants
1% back
Transit
1% back On payments made for recurring payments
Recurring bills
1% back
Travel
1% back Booked through CIBC by Expedia
Everything else (base rate)
0.5% back
  • 1% cash back on transportation
  • The 2% and 1% cash offers are only available on the first $80,000 in net annual card purchases, meaning all card purchases by all cardholders, at any type of merchant, or $20,000 on grocery stores, supermarkets, gas, service stations and automated fuel-dispensers, commuter transportation, eating and drinking places and restaurants, or on recurring payments

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Checked on Nov 8, 2026. Source

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
  • Newcomer program CIBC newcomer offer No credit history or security deposit needed. Limit up to $15,000 on your first card when you bank with CIBC. Apply in a branch with your immigration documents.
  • 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 Each application shows up on your credit file. Leave a few months between card applications.

What critics say

Other reviewers on this card

7.1
Good
Expert Score How we score
  • Money.ca (opens in a new tab) Apr 2025
    4

    “If the CIBC Dividend® Visa* Card regular earn rate was higher and new cardholders were offered a welcome bonus to accelerate their cash back, this card would be perfect. While Extended Protection Insurance and Purchase Security are great tools, additional travel insurance would further enhance this credit card's appeal. The absence of a cash back limit and the option to obtain free supplementary cards make it a potentially excellent choice, depending on your individual spending habits.”

  • Yore Oyster (opens in a new tab) Jan 2023

    “The CIBC Dividend Visa Card is a cash back credit card that offers up to 2% cash back on groceries, gas, transportation, dining, and recurring bill payments. This credit card is best for retirees, minimum wage earners, and first credit cardholders since it only requires a $15,000 minimum annual income. With no annual fees, the CIBC Dividend Visa Card is one of the best entry-level and beginner-friendly cash back credit cards. This card includes insurance coverage for most of your purchases, and you can get special offers at eligible gas stations and discount at Avis and Budget car rentals across North America.”

  • Offerhub.ca (opens in a new tab) Mar 2022
    9

    “The CIBC Dividend Visa Card is ideal for customers who intend to charge substantial or unexpected expenses to their credit card. By taking advantage of the PaceIt® program, you can choose to split your bill into installments payable over the next 6, 12, or 24 months. For instance, in case you wish to purchase home appliances, conduct home renovations, or deal with emergencies, the CIBC offers low-interest rates without the need for additional credit checks and pre-approval. When you’re ready to encash the rewards, you can log into the site, select the amount you wish to redeem, and it is available right away. You’ll have the option of getting back a minimum of $25 and redeeming smaller denominations in place of the total accrued rewards.”

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
  • Emergency Card Replacement
  • Get up to 10 cents off per litre at participating gas stations with Journie Rewards
  • 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
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 for the same spending

With typical spending. This card: $303 year one, $303 every year after.

See all cards ranked for your spending

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 Dividend® 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

$303
a year for you
Apply now on CIBC’s site (opens in a new tab)
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