Tuesday, June 2, 2020

New Welcome Offer for the CIBC Dividend® Visa Infinite* Card - 10% cash back on all purchases up to $2,000 and a first year annual fee rebate


CIBC recently launched an excellent new offer for their premium cash back card the CIBC Dividend® Visa Infinite* Card. The card has a welcome offer of 10% cash back on all purchases up to $2,000 made during the first four monthly statement periods. The offer doesn’t end there however as new cardholders will also get their first year annual fee rebated which means you can try this card out at no cost to you other than your actual credit card spending.

The 10% cash back on all purchases of up to $2,000 will translate to up to $200 cash back which is a decent welcome bonus for a cash back card and matches many that are in market right now. Once you have hit that $2,000 in spending or have had the card for four statement periods your cash back earning will revert to the standard rates as follows:

· 4% cash back on eligible gas and grocery purchases
· 2% cash back on Tim Hortons® and TELUS® purchases
· 1% cash back on all other purchases

The accelerated earn rates of 4% and 2% are awarded on the first $20,000 spent in those categories or when you reach $80,000 in total purchases in your account, whichever comes first. Once that limit is reached you’ll earn 1% cash back on all purchases. All cash back earned on the CIBC Dividend® Visa Infinite* Card accumulates during the year and is paid out as a credit on your December statement. This is the only drawback on this card as we have recently seen many cash back cards move to an instant or monthly redemption model for cash back rather than the old school yearly credit. Granted, two of this card’s biggest competitors are no different and only pay out once per year as well so it isn’t alone. If you are OK with getting one big lump sum reward at the end of the year this offer and card is one you should consider.

The card also features a very good insurance and benefits packages that includes Out of Province Emergency Travel Medical Insurance, Trip Interruption Insurance, Flight Delay and Baggage Insurance, Purchase Security and Extended Protection Insurance, $500,000 Common Carrier Accident Insurance, and Auto Rental and loss Damage Insurance

It’s nice to see CIBC bump up the welcome offer for their Dividend® Visa Infinite* Card and Dividend Platinum® Visa* Card to compete with other cards in the market offering similar incentives. With much of the Canadian marketplace eyeing cash back or cash equivalent rewards instead of travel right now there is no better time to offer a sweet welcome bonus like this one and provide that nice incentive to switch to cash back.

Learn more about this offer and apply for the CIBC Dividend® Visa Infinite* Card here.

If your income is below the required amount for the CIBC Dividend® Visa Infinite* Card this exact same welcome bonus is also available on the CIBC Dividend Platinum® Visa* Card
 

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