💰 CIBC Dividend Visa Card for Students Review — Cash Back & Student Essentials

8.5

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Credit Card Highlights:

• Annual Fee: $0
• Second Card: $0
• Purchase Rate: 20.99%
• Cash Advance Rate: 22.99%

For students trying to balance budgets, eat well, and maybe even fuel the occasional coffee run or transit ride, the CIBC Dividend® Visa Card for Students* offers a compelling mix of cash back on everyday essentials, no annual fee, and student‑friendly perks. If your spending aligns with groceries, gas, transport, and you like seeing cash back show up, this could be one of the best starter choices in Canada.

Let’s break it down in depth (with some real student feedback, opinions, and FAQs), so you can see if it’s the right fit.

🔍 Key Features & Overview

🛍 Rewards & Cash Back Breakdown

This is the heart of the card: how much you earn, where, and how useful that is.

• 2% on groceries is a standout, especially for students who spend a big chunk of their monthly budget on food.
• The 1% rate on gas, EV charging, transportation, dining, and recurring bills helps a lot if these are regular costs.
• If you tend to buy random stuff (apparel, gadgets, online shopping), those fall into the 0.5% “other purchases” bucket, which is pretty low.

CreditAssess.ca user review:
“My biggest win is with groceries. 2% adds up when I shop weekly; that’s my money back. But when I buy clothes or go out, 0.5% makes me cringe — feels like other cards would beat this for those categories.”
— Nadia, University of British Columbia

Our opinion: If you can steer a good portion of your spending toward the higher cash‑back categories (groceries, gas, transportation), this card gives real value. But if your spending is more “miscellaneous,” the low return on “other purchases” drags the average down.

🎁 Welcome Bonus & Intro Offers

The card currently offers:

• $25 cash back after your first purchase (within first 4 statements).
• Plus a 10% cash back “welcome bonus” (up to $100) on net purchases in the first 4 statements.

That means to maximize the welcome offer, you’d want to spend up to $1,000 in those first four statements. But even modest spending gives some reward.

CreditAssess.ca user review:
“I split my weekly groceries + phone bill in first month and got most of the welcome bonus with effort, without stressing. Didn’t max it out, but still felt rewarded.”
— Arjun, University of Manitoba

Opinion: Not outrageous, but very reasonable and useful. For a no‑fee card, these welcome perks are a nice early bonus. Don’t expect premium-tier deal, but it gives a small boost.

🛡 Insurance, Protections & Other Perks

Even though this is a student card with no fee, it includes some protections:

• Purchase Security Insurance: Covers eligible new purchases against theft or damage for 90 days.
• Extended Warranty Insurance: Adds up to one year to original manufacturer warranty on eligible items.
• Free SPC+ membership: discounts on brands, student‑oriented deals. Helpful.
• Other bonus perks: Skip+ trial, Journie Rewards gas savings. These extras may tip the balance if you use them.

Our opinion: These kinds of protections are often missing in basic student cards. The inclusion here helps make this more than just a basic “swipe & pay” tool — it adds safety and small joys along the way.

⚠️ Costs, Rates & Things to Watch Out For

Every card has trade‑offs. Here are what to watch with this one:

• Interest Rate (Purchases): ~21.99% (for non‑Quebec residents) on purchases. Carrying a balance means a high cost.
• Cash Advance & Other Special Rates: Higher for cash/advances. Standard for most cards.
• Low cash back on “other purchases” (0.5%): If your spending is outside rewards categories, your average return will be pulled down.
• Credit limit for international students is lower ($2,000) than for Canadian students. Keep that in mind.
• Redemptions: Minimum cash back balance to redeem is around $10 via online or mobile banking.

👤 CreditAssess.ca User Feedback

“I thought this card would be meh, but 2% on groceries makes me actually prefer cooking over takeout. The gas savings and those small discounts add up each month.”
— Jade, Concordia University

“First semester, I forgot about recurring payments. Got some cashback, but way less than I could’ve. If you’re organized, this card’s decent. If you just swipe without thinking, the low 0.5% hurts.”
— Mark, University of Alberta

“I value the insurance features — last year I had to replace a damaged laptop screen and some of the cost was covered thanks to purchase protection. That peace of mind, especially for a student, is worth something.”
— Rhea, McMaster University

✅ Pros & ❌ Cons

✅ Pros

• No annual fee — always a win for student budgets.
• Strong rewards in key categories: groceries (2%) and decent rates for gas, transportation, recurring bills.
• Good welcome bonus for a student card.
• Useful protections (purchase security, extended warranty).
• Perks like SPC+ and Skip+ which appeal to student lifestyle.
• Redeem cash back easily once you hit small thresholds.

❌ Cons

• 0.5% return on many purchases is low compared to some competitors.
• High interest rate if you carry a balance — make sure to pay in full.
• Credit limit is lower for international students.
• Some perks are usage‑dependent; if you don’t use SPC+, Skip+ or gas savings, those are wasted.
• Offers (welcome bonuses, partner benefits) may change depending on region/province.

🧮 Who Should Use This Card?

This card is a good fit if you:

• Are a full‑time student with little or no credit history.
• Do a lot of grocery shopping and regular commuting/transportation.
• Want a no‑fee card with decent rewards on essentials.
• Want basic but useful protections (insurance, warranty) included.
• Like perks (discount brands, apps) and don’t mind using them.

It might not be ideal for you if:

• You spend heavily in categories outside groceries/gas/transport/dining.
• You plan to carry a balance — the interest will make your reward return negligible or negative.
• You are an international student needing higher credit limit.
• You prefer travel rewards over cashback.

📊 Sample Earnings Scenario

Here’s an example to see how much cash back you might realistically earn:

Plus, with the welcome bonus (if you maximize it), you might add another ~$50–$100 in the first few months. Not bad for no fee.

🙋 Frequently Asked Questions (FAQ)

Here are common questions students tend to search, with answers drawn from available data + CreditAssess.ca insight:

Q: How do I qualify as a student for this card?
A: You must be a full‑time student at a recognized college or university, and meet the age of majority in your province. No specific income requirement. International students can apply, though their credit limit is lower.

Q: What doesn’t count as an “eligible grocery” or “eligible gas / transport” purchase?
A: Eligible groceries usually mean standard grocery stores (food, drinks for home). Exclusions often apply to mega‑stores that combine other services (e.g. electronics). Eligible gas means gas stations plus EV charging; transport often means transit, ride share. Always check the card terms for your province.

Q: Is there a limit on how much cash back I can earn?
A: No limit on total cash back, and the cash back you earn doesn’t expire.

Q: When and how can I redeem my cash back?
A: You can redeem via CIBC Online Banking or the Mobile App, once your cash back balance reaches at least $10 (for some versions; some sources say $25 depending on context or promotion) depending on region.

Q: What happens if I carry a balance?
A: Carrying a balance will result in paying high interest (~21.99%). That interest can eat into or erase your cash back earnings if you don’t repay in full each month.

Q: Does this card offer any travel or other insurance?
A: It doesn’t seem to include travel insurance. It does include purchase protection and extended warranty.

Q: What about foreign transaction fees?
A: Like many Canadian credit cards, this one charges around 2.5% for foreign transactions. If you plan to use it abroad or for foreign online shopping, that fee will reduce your net reward.

🏁 CreditAssess.ca Verdict

The CIBC Dividend® Visa Card for Students* strikes a strong balance between reward, cost, and usefulness. For students who manage their spending well — especially spending that hits the higher return categories (groceries, gas, transportation) — this card is a very solid pick. The fact that there’s no fee, decent protections, and bonus perks makes it more than just a basic swipe‑card.

If you’re mindful, pay off your balance each month, and use the perks like SPC+ and Skip+, this can be one of the “workhorse” student cards — reliable, simple, and valuable. If your spending is more eclectic or you expect to carry balances, there may be better alternatives.

Final Score: 4.2 / 5

Disclaimer: Refer to the official credit card web page for the latest rates, terms, and conditions. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute professional and/or financial advice.