Card at a Glance
| Feature | Details |
|---|---|
| Card name | CIBC Dividend Visa Infinite |
| Annual fee | $139 (often waived with CIBC account) |
| Minimum income | $60,000 personal / $100,000 household |
| Network | Visa Infinite |
| Rewards type | Cash back |
| Supplementary card | Free (unlimited) |
| Interest rate (purchases) | 20.99% |
| Interest rate (cash advances) | 22.99% |
| Foreign transaction fee | 2.5% |
| Insurance | Comprehensive (see below) |
Cash Back Rates
| Category | Rate | Cap |
|---|---|---|
| Groceries | 4% | First $6,000/year |
| Dining | 2% | No cap |
| Gas | 2% | No cap |
| Transit | 2% | No cap |
| Groceries (after $6K) | 1% | — |
| Everything else | 1% | No cap |
What Qualifies for Each Category
| Category | Included | Not Included |
|---|---|---|
| Groceries | Supermarkets, grocery stores | Costco, Walmart Supercentre |
| Dining | Restaurants, fast food, cafes | Restaurant delivery apps |
| Gas | Gas stations | Charging stations (EV) |
| Transit | Public transit, taxis, ride-share | Parking |
Important: Merchant category codes (MCC) determine eligibility. Some stores code differently than expected.
Cash Back Redemption
| Aspect | Details |
|---|---|
| Accumulation | Automatic on every purchase |
| Payout | Annual (December/January) |
| Minimum | None |
| Method | Statement credit, CIBC account deposit, or cheque |
You can also redeem mid-year for statement credits starting at $25 through CIBC Online Banking.
Annual Cash Back Estimate
Example: Moderate Spender
| Monthly Spend | Category | Annual Cash Back |
|---|---|---|
| $500 groceries ($6K/year) | 4% | $240 |
| $300 dining | 2% | $72 |
| $200 gas | 2% | $48 |
| $100 transit | 2% | $24 |
| $500 other | 1% | $60 |
| Total | $444 |
Net return with fee waived: $444/year
Net return with $139 fee: $305/year
Example: High Grocery Spender
| Monthly Spend | Category | Annual Cash Back |
|---|---|---|
| $800 groceries | 4% on $6K, 1% on $3.6K | $240 + $36 = $276 |
| $400 dining | 2% | $96 |
| $300 gas | 2% | $72 |
| $150 transit | 2% | $36 |
| $600 other | 1% | $72 |
| Total | $552 |
Grocery Cap: Does It Matter?
The $6,000 annual cap on 4% groceries equals $500/month. After the cap:
| Grocery Spending | Effective Grocery Rate |
|---|---|
| $500/month ($6K) | 4% (full bonus) |
| $750/month ($9K) | 3.0% blended |
| $1,000/month ($12K) | 2.5% blended |
For spending over $6,000/year on groceries, consider the Scotiabank Momentum Visa Infinite ($25,000 cap at 4%).
Annual Fee Waiver Strategies
The $139 fee can often be waived entirely:
| Method | Requirement |
|---|---|
| CIBC Smart Account | Hold premium chequing account |
| CIBC Smart Plus Account | Upgraded chequing package |
| CIBC Mortgage | Hold CIBC mortgage |
| Negotiation | Call retention when renewal approaches |
| First-year offer | Sign-up promotions often waive year 1 |
CIBC Relationship Value: If you bank with CIBC and get the fee waived, this card becomes one of the best no-fee premium cash back cards available.
Insurance Coverage
As a Visa Infinite card, the CIBC Dividend includes comprehensive insurance:
Travel Insurance
| Coverage | Details |
|---|---|
| Emergency medical | $500,000 (up to 15 days/trip) |
| Trip interruption | Up to $1,500/trip |
| Flight delay | $500 (6+ hour delay) |
| Lost/delayed baggage | $500 |
| Hotel burglary | $500 |
Medical coverage conditions:
- Age limit: Coverage varies by age (check policy)
- Pre-existing conditions: 60-day stability clause
- Must charge travel to card
Vehicle Rental Insurance
| Coverage | Details |
|---|---|
| Collision/damage waiver (CDW) | Up to $65,000 value |
| Eligible vehicles | Cars, SUVs, minivans |
| Geographic coverage | Canada, US, and most countries |
| Rental period | Up to 48 consecutive days |
Important: Decline the rental company’s CDW to activate coverage. Does not cover trucks, motorcycles, exotic cars, or vehicles rented for commercial use.
Purchase Protection
| Coverage | Details |
|---|---|
| Extended warranty | Extra year on manufacturer warranties (up to 1 year) |
| Purchase protection | 90 days against damage/theft (up to $50,000/year) |
| Mobile device protection | Not included |
CIBC Dividend Visa Infinite vs Platinum
CIBC offers two Dividend cards:
| Feature | Visa Infinite | Platinum |
|---|---|---|
| Annual fee | $139 | $99 |
| Min income | $60,000 | None |
| Groceries | 4% (first $6K) | 3% (first $6K) |
| Dining/Gas/Transit | 2% | 1.5% |
| Other | 1% | 0.5% |
| Travel insurance | Comprehensive | Basic |
| Car rental CDW | Yes | No |
| Lounge access | No | No |
Verdict: The Visa Infinite is worth the extra $40 for the higher earn rates and better insurance, especially if you can get the fee waived.
Comparison: Premium Grocery Cards
| Feature | CIBC Dividend VI | Scotiabank Momentum VI | BMO CashBack Elite |
|---|---|---|---|
| Annual fee | $139 | $139 | $120 |
| Groceries | 4% ($6K cap) | 4% ($25K cap) | 5% |
| Dining | 2% | 4% | 1% |
| Gas | 2% | 2% | 4% |
| Bills | 1% | — | 3% |
| Other | 1% | 1% | 1% |
| Fee waiver | With CIBC account | With Scotiabank account | No |
Comparison Analysis
Choose CIBC Dividend VI if:
- You bank with CIBC and can get fee waived
- Grocery spending is under $6,000/year
- You value transit rewards (2%)
Choose Scotiabank Momentum VI if:
- Grocery spending exceeds $6,000/year
- Dining is a major spending category (4% vs 2%)
- You want Scene+ points flexibility
Choose BMO CashBack Elite if:
- Recurring bills are a major category (3%)
- You want highest grocery rate (5%)
- Gas spending is high (4%)
Welcome Offer
CIBC periodically offers sign-up bonuses. Typical offers include:
| Offer Type | Typical Value |
|---|---|
| Cash back bonus | $150-$300 after spending requirement |
| First-year fee waiver | $139 value |
| Elevated earn rate | 10x points first 2-3 months |
Check the current offer at cibc.com before applying. Offers change frequently.
Application Requirements
| Criterion | Requirement |
|---|---|
| Age | 18+ (19+ in some provinces) |
| Residency | Canadian resident |
| Income | $60,000 personal or $100,000 household |
| Credit history | Good to excellent |
Income qualification: CIBC may ask for income verification for first-time customers or large credit limits.
Pros and Cons
Pros
| Advantage | Details |
|---|---|
| High grocery rate | 4% is among the best |
| Fee waiver available | Free with qualifying CIBC account |
| Comprehensive insurance | Travel medical, CDW, purchase protection |
| Free supplementary cards | Add family members at no cost |
| Multiple 2% categories | Dining, gas, and transit all included |
Cons
| Disadvantage | Details |
|---|---|
| $6,000 grocery cap | Heavy spenders hit the limit |
| Income requirement | $60K minimum excludes some |
| 2.5% FX fee | Don’t use abroad |
| Annual payout | Wait for cash back |
| Relationship dependent | Best value requires CIBC banking |
Who Should Get This Card
| Profile | Recommendation |
|---|---|
| CIBC banking customer | ✅ Excellent — get fee waived |
| Grocery spender (<$6K/year) | ✅ Good — 4% is strong |
| GTA commuter | ✅ Good — 2% on TTC, Presto |
| Heavy grocery spender (>$6K) | ⚠️ Consider Scotiabank Momentum |
| No CIBC relationship | ⚠️ $139 fee reduces value |
| Frequent traveler | ⚠️ Travel card may be better |
How to Apply
- Online — Apply at cibc.com in ~10 minutes
- In-branch — Visit any CIBC location
- Phone — Call CIBC
Decision timeline: Instant approval for many applicants; some require 7-10 business days for review.
Alternatives to Consider
| Alternative | Why Consider |
|---|---|
| Scotiabank Momentum VI | Higher grocery cap ($25K), better dining (4%) |
| BMO CashBack Elite | 5% groceries, 4% gas |
| Tangerine Money-Back MC | No fee, 2% on 3 categories |
| Rogers World Elite MC | 1.5% everywhere, no FX fee |