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


At the start of this month CIBC brought back their excellent limited time welcome bonus offer for their premium cash back card the CIBC Dividend® Visa Infinite* Card.
That offer is 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 other good news coming on February 1st was the launch of the card changes we announced back in October. The biggest drawback the card had, if you would consider it a drawback was only being able to cash out your rewards once per year. Well that’s gone and now you can cash out anytime when your rewards balance hits $25 or more. On top of that there are some earning and annual fee changes to the card as well that are detailed below.

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 eligible transportation, dining purchases and recurring payments

· 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. The change in earning comes in the 2% category. Prior to February 1st it was only 2% at Tim Hortons and Telus and now it offers a much broader earn range which is a welcome change! The other change and that was already mentioned is no longer do you have to wait until your December statement to get your cash back reward. Now you can cash out at anytime so long as you cash back rewards balance is $25 or more.  Also with positive changes you have to expect some not so positive to balance it out and that happens to come with the annual fee being bumped to $120 per year from $99 (you still get that first year free though with the current offer) and the removal of trip interruption, flight delay and baggage insurance. The out of province medical insurance has also been lowered to 10 days from 15. CIBC has however added Mobile Device Insurance to the card. Annual interest rate for this card is 19.99%† on purchases and 22.99%† on cash advances and 22.99% † on balance transfers

It’s nice to see CIBC bring back this 10% 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

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

The most current offer for this card is shown below: