The CIBC Dividend Credit Card stands out as one of the best no-annual-fee credit cards on the market. It’s one of the few cards that offers cash back without an annual fee, making it a must-have for those who don’t want to pay for premium cards. You’ll earn 2% cash back on groceries, which is a fantastic rate for everyday purchases. Additionally, it offers 1% cash back on gas, dining, and recurring payments, along with 0.5% cash back on all other purchases. Unlike many other no-annual-fee cards, the CIBC Dividend Credit Card also includes limited insurance, adding extra value and peace of mind.
Card Summary:
This credit card comes with no annual fee and no cost for additional cards. It offers cash back on your purchases, making it a great option for saving money. To be eligible, you need a minimum annual household income of $15,000, making it accessible for many households.
Rewards Summary:
This credit card rewards you with 2% cash back on grocery purchases. You also earn 1% cash back on gas, transportation, dining, and recurring payments. For all other purchases, you get 0.5% cash back, helping you save on everyday expenses.
Benefits Summary:
This credit card offers unlimited cash back, allowing you to earn without any restrictions. You can redeem your cash back anytime, giving you complete flexibility. Additionally, save up to 10 cents per liter at participating Pioneer, Fas Gas, Ultramar, and Chevron gas stations. Enjoy up to 25% off car rentals from Avis and Budget. Benefit from Visa Zero Liability for protection against unauthorized transactions and receive fraud alerts to keep your account secure.
Insurance Summary:
- Purchase Security
- Extended Protection Insurance
- Common Carrier Accident Insurance
Editor’s Review
CIBC Dividend Credit Card Review
The CIBC Dividend Credit Card is an excellent choice for those seeking a no-annual-fee credit card with cash back rewards. It offers competitive cash back rates on everyday purchases, making it a valuable addition to any wallet, especially for budget-conscious consumers. The card also includes some insurance benefits, adding extra value and security.
Card Summary:
- Annual Fee: None
- Supplementary Card Fee: None
- Interest Rates: Not specified
- Income Requirement: $15,000 household
Rewards Program:
- 2% Cash Back: On grocery purchases
- 1% Cash Back: On gas, dining, transportation, and recurring payments
- 0.5% Cash Back: On all other purchases
- Unlimited Cash Back: No caps on how much you can earn
- Cash Back Redemption: Anytime, offering complete flexibility
Benefits:
- Fuel Savings: Save up to 10 cents per liter at participating Pioneer, Fas Gas, Ultramar, and Chevron gas stations
- Car Rental Discounts: Up to 25% off at Avis and Budget
- Visa Zero Liability: Protection against unauthorized transactions
- Fraud Alerts: Keep your account secure with real-time notifications
Insurance Coverage:
- Purchase Security: Protection against theft or damage for purchases
- Extended Protection Insurance: Extends the warranty period on eligible purchases
- Common Carrier Accident Insurance: Coverage for accidents while traveling on a common carrier
Pros and Cons
Pros:
- No annual fee
- Competitive cash back rates on groceries, gas, dining, and more
- Unlimited cash back with flexible redemption
- Additional savings on fuel and car rentals
- Basic insurance coverage included
Cons:
- Lower cash back rate on non-category purchases (0.5%)
- Limited insurance compared to premium cards
- Interest rates not specified (important for those who may carry a balance)
Who is this card for?
This card is ideal for individuals who:
- Want a no-annual-fee credit card with solid cash back rewards
- Spend significantly on groceries, gas, dining, and recurring payments
- Prefer the flexibility of redeeming cash back anytime
- Seek basic insurance coverage and additional benefits like fuel savings
Comparison with Similar Cards
| Feature |
CIBC Dividend Credit Card |
BMO CashBack Mastercard |
TD Cash Back Visa Card |
| Annual Fee |
None |
None |
None |
| Purchase Interest Rate |
Not specified |
19.99% |
19.99% |
| Cash Back |
Up to 2% |
Up to 3% |
Up to 3% |
| Grocery Cash Back |
2% |
3% |
1% |
| Insurance Coverage |
Basic |
Basic |
Basic |
| Income Requirement |
$15,000 household |
None |
None |
Final Verdict
The CIBC Dividend Credit Card is a top-tier no-annual-fee option for those looking to earn cash back on everyday purchases. With competitive rates on groceries, gas, dining, and recurring payments, it provides excellent value without the cost of an annual fee. The added insurance benefits and discounts further enhance its appeal, making it a versatile and budget-friendly choice for a wide range of consumers.
View other $0 annual fee credit cards.
View other cash back credit cards.
View other CIBC credit cards.
Disclaimer: Refer to the credit card official web page for the latest up to date 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.
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