Daniela Hanna
The CIBC Dividend® Visa Platinum Card is a simple, reliable, high-earning cash-back card that shines on household essentials like groceries, gas and EV charging. With a generous 10% welcome bonus and a first-year fee rebate, the value stacks up quickly for everyday spenders.
Quick highlights
- 🎁 Earn 10% cash back on your first $3,000 in purchases (up to $300).
- 💵 Get an additional $50 bonus for setting up a pre-authorized payment.
- 💳 Annual fee rebate in your first year.
- 🛒 3% cash back on groceries, gas and EV charging.
- 🍽️ 2% on dining, transportation and recurring payments.
- 💳 1% cash back on all other purchases.
Why we like the CIBC Dividend® Visa Platinum Card
This card is all about making your day-to-day spending more rewarding — and it succeeds. With elevated cash-back on core essentials and a hefty introductory bonus, it’s one of the more generous mid-tier cash-back cards in Canada. The rewards come easily, the redemption is effortless, and the card fits naturally into most people’s spending patterns.
Stand-out features
- ✅ 3% on everyday essentials like groceries, gas and EV charging.
- ✅ 2% on dining, transportation, streaming and recurring bills.
- ✅ First-year fee rebate and a simple redemption threshold.
- ✅ Welcome bonus that pays out quickly and meaningfully.
Good to know
- ⚠️ Bonus categories have annual spending caps.
- ⚠️ Foreign transaction fees apply on non-CAD purchases.
- ⚠️ Travelers may want a secondary no-fee FX card.
Pros
- High earn rates on essential spending categories.
- Simple, predictable cash-back structure.
- Generous welcome bonus for a mid-tier card.
- Fee rebate makes the first year exceptionally valuable.
- No cap on total cash-back you can earn overall.
Cons
- Spending caps on higher reward categories.
- Foreign transaction fee of 2.5%.
- Limited travel-related insurance and perks.
- After year one, the $99 fee must be justified by spend.
Rewards program
- 🛒 3% cash back on groceries, gas and EV charging.
- 🍽️ 2% on dining, transportation and recurring bills.
- 💳 1% on all other eligible purchases.
How to maximize rewards
- Prioritize groceries and gas on this card to take full advantage of the 3% earn rate.
- Load recurring bills and streaming services onto the card to lock in 2% without thinking about it.
- Use the card heavily in the first four statements to squeeze maximum value out of the 10% welcome bonus.
- Keep an eye on spending caps and move overflow spending to another cash-back card if necessary.
- Pair this card with a no-foreign-fee card if you travel or shop online internationally.
Insurance & benefits
Included
- 🛍️ Purchase Security.
- 🕒 Extended Warranty Protection.
- 🚗 Auto Rental Collision / Loss Damage Insurance.
- 🧳 Common Carrier Accident Insurance.
Not included
- ❌ No travel medical insurance.
- ❌ No mobile device insurance.
- ❌ No premium airport benefits or lounge perks.
Rates & fees
| Annual fee | $99 (rebated in year one) |
|---|---|
| Purchase APR | 20.99% |
| Cash advance APR | 22.99% |
| Foreign transaction fee | 2.5% |
| Grace period | 21 days |
Best for
- 🛒 Households that spend heavily on groceries and gas.
- 💵 Canadians who prefer simple, easy-to-use cash-back rewards.
- 📊 Budgeters who want reliable, predictable returns.
- 🎁 Anyone maximizing a high-value welcome bonus.
Where it falls short
- Category caps can reduce earnings after thresholds are reached.
- Lacks premium travel benefits and insurance.
- Not ideal for international purchases due to FX fees.
- General earn rate of 1% may feel low for some spenders.
Customer reviews
Positive feedback
“The 3% on groceries and gas adds up incredibly fast. This card is perfect for daily life.”
“The welcome bonus alone covered a good chunk of my essentials for the month.”
Critiques
“Great card, but I wish it didn’t have category caps.”
“I travel often, so the FX fee pushes me to carry a secondary card.”
Community insights
Canadians often choose this card as their “set it and forget it” cash-back option — especially families that spend heavily on groceries and transportation. It’s viewed as one of the best mid-tier cards for real-world, day-to-day value, though frequent travelers typically pair it with a travel-focused alternative.
AI review (straight talk)
If you’re looking for a card that rewards the spending you already do — groceries, gas, food delivery, bills — this is a strong pick. The value is consistent, the welcome bonus is excellent, and the first-year fee rebate makes the math easy. The only real drawbacks are the capped bonus categories and lack of travel perks, but for daily spending, it’s an easy, practical winner.
Alternatives & comparison
| Card | Annual Fee | Top Categories | Other Purchases | Key Perks | Best For |
|---|---|---|---|---|---|
| CIBC Dividend® Platinum Visa | $99 | 3% groceries/gas/EV | 1% | 10% welcome bonus, fee rebate | Everyday cash-back |
| CIBC Dividend® Visa Infinite | $120 | 4% groceries/gas | 1% | Higher earn, device insurance | High spenders |
| Scotia Momentum® Visa Infinite | $120 | 4% groceries/recurring | 1% | Strong recurring bill rewards | Recurring bill payers |
| BMO CashBack® World Elite | $120 | 5% groceries | 1% | Great intro offers | Heavy grocery spend |
FAQ
Is there an annual fee?
Yes — the annual fee is $99, but it is fully rebated in the first year.
What is the welcome bonus?
You get 10% cash back on your first $3,000 in purchases, plus an additional $50 when you set up a pre-authorized payment.
What are the earn rates?
You earn 3% on groceries, gas and EV charging; 2% on dining, transportation and recurring bills; and 1% on all other purchases.
How does cash-back redemption work?
You can redeem cash-back anytime once your balance reaches $10 or more. Redemption is quick and straightforward through online banking.
Does this card include travel insurance?
It includes rental collision insurance and purchase protections, but does not include travel medical coverage.
Final verdict & ratings
Our take This is a practical, rewarding card built for real everyday life. With high earn rates on essentials, a generous welcome bonus and a first-year fee rebate, it delivers more value than many cards that cost much more. If your spending revolves around groceries, gas and bills, this card fits beautifully.
| Overall | ★★★★☆ 4.2 / 5 |
|---|---|
| Rewards value | 4.3 / 5 — excellent for core essentials |
| Benefits & protections | 4.1 / 5 — solid for its fee |
| Fees & costs | 3.8 / 5 — reasonable with rebate |
| Ease of approval | 4.0 / 5 — accessible mid-tier option |
