CIBC Dividend Platinum VISA Card
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Welcome Offer
First-year annual fee rebate and 10% cash back on net purchases up to $3,000 for the first 4 statements.
Summary
The CIBC Dividend Platinum Visa has an annual fee of $99, which is rebated for the first year. An additional card costs $30, also rebated for the first year. The card features a purchase rate of 20.99% and a cash advance rate of 22.99%. This card offers a cost-effective start with first-year fee rebates, along with competitive rates for purchases and cash advances.
Rewards
The CIBC Dividend Platinum Visa offers excellent cash-back rewards on your spending. Earn 3% cash back on eligible gas, EV charging, and groceries, making everyday essentials more rewarding. Get 2% cash back on transportation, dining, and recurring payments, helping you save on regular expenses. For all other purchases, you’ll earn 1% cash back. This card is designed to maximize your cash back on a variety of spending categories.
Benefits
The CIBC Dividend Platinum Visa offers flexible and valuable benefits. You can redeem your cash back anytime, giving you control over your rewards. The card also includes extended warranty coverage of up to one year and purchase protection for added peace of mind. Additionally, save up to 10 cents per liter at participating gas stations with Journie Rewards, and enjoy up to 25% off car rentals at Avis and Budget. This card is perfect for those seeking convenience, protection, and savings on everyday expenses and travel.
Insurance
- Purchase security and extended protection insurance
- $500,000 Common Carrier Accident Insurance
- Auto rental collision and loss damage insurance
Editor’s Review
CIBC Dividend Platinum Visa Card Review
Overview: The CIBC Dividend Platinum Visa Card is a cashback credit card that rewards users for everyday spending. It offers enhanced cashback rates on categories like gas, groceries, and dining, making it an ideal choice for those seeking practical rewards on daily expenses.
Key Features:
- Interest Rate: 20.99% on purchases, 22.99% on cash advances
- Annual Fee: $99 (rebated for the first year)
- Welcome Bonus: 10% cash back for the first 4 statements on up to $3,000 in purchases
Rewards Program:
- 3% cash back on gas, EV charging, and groceries
- 2% cash back on dining, transportation, and recurring payments
- 1% cash back on all other purchases
- No limit on the total cash back you can earn
Fees:
- Annual Fee: $99 (first year rebated)
- Additional Card: $30 each for up to three additional cards
- Foreign Transaction Fee: 2.5%
Benefits:
- Redeem cash back anytime through CIBC Online Banking or the mobile app
- Save up to 10 cents per liter at participating gas stations with Journie Rewards
- Purchase Security and Extended Warranty Insurance
- Auto Rental Collision and Loss Damage Insurance
- Fraud protection with Visa’s Zero Liability policy
Insurance Coverage:
- Purchase Security: Covers eligible items against damage or theft for 90 days
- Extended Warranty: Extends the manufacturer’s warranty by up to one additional year
- Travel Accident Insurance: Up to $500,000
- Auto Rental Collision and Loss Damage Insurance
Security Features:
- Fraud alerts
- Digital Disputes Platform for reporting unauthorized transactions
- Spend alerts to manage budget and credit limit
Pros:
- High cashback rates on gas, groceries, dining, and transportation
- Valuable welcome bonus
- Extensive purchase and travel insurance coverage
Cons:
- Annual fee of $99 (though rebated for the first year)
- 2.5% foreign transaction fee
Who is this card for? The CIBC Dividend Platinum Visa Card is ideal for individuals who spend heavily on gas, groceries, dining, and transportation and want to maximize their cashback rewards. It suits those who also value extensive insurance coverage and fraud protection features.
Comparison Table:
| Feature | CIBC Dividend Platinum Visa Card | National Bank Allure Mastercard | RBC Cash Back Mastercard |
|---|---|---|---|
| Annual Fee | $99 (first year rebated) | $0 | $0 |
| Rewards Rate | Up to 3% cash back | 1 pt / $2 | Up to 2% cash back |
| Welcome Bonus | 10% cash back on first $3,000 | None | None |
| Travel Insurance | Basic | None | None |
| Foreign Transaction Fee | 2.5% | 2.5% | 2.5% |
Final Verdict: The CIBC Dividend Platinum Visa Card is a strong choice for those seeking substantial cashback on everyday expenses. The high rewards rates on gas, groceries, dining, and transportation, combined with a valuable welcome bonus and comprehensive insurance coverage, make it an appealing option. Despite the annual fee and foreign transaction fee, the card’s benefits and cashback potential offer significant value. Overall, it scores an 8.6 out of 10 for its generous rewards and practical features.
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.
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