A bunch of changes are coming to CIBC cards on July 1st – some are positive and some are negative. The most significant are the improved NEXUS rebate and the lowering of overall spending caps on their cash back cards. Big thanks to long time RWRDS Canada community contributor Joshua C. for the heads up!
Here are the details
NEXUS Rebate boosted to C$200
We here at RWRDS Canada have wondered if and when we’d see an issuer increase their NEXUS rebate benefit after the fee jumped from US$50 to US$120 last October. And now we have an answer with CIBC first to market with a doubling of the benefit which will now easily cover the fee for one application every four years (Aventura Visa Infinite Privilege receives 2 credits):
- For CIBC Aeroplan® Visa Infinite Privilege* Cards, CIBC Aventura Gold Visa* Cards, CIBC Aventura Visa Infinite* Cards, CIBC Aventura World Elite® Mastercard® Cards and CIBC Aventura World Mastercard® Cards, we are increasing the amount of the NEXUS application fee rebate effective July 1, 2025 to ‘up to $200 CAD once every 4 years’ from the current benefit of ‘up to $100 CAD once every 4 years’. Existing conditions continue to apply.
- For CIBC Aventura Visa Infinite Privilege Cards, we are increasing the amount of each of the NEXUS application fee rebates effective July 1, 2025 to ‘up to $200 CAD once every 4 years’ from the current benefit of ‘up to $100 CAD once every 4 years’. Existing conditions continue to apply.
Changes to the Dividend Cash Back Program
Some key changes to the Dividend Cash Back cards see them removing the automatic credit of automatic cash back once per year for those who don’t cash out on demand, which means the cash back balance will just continue to build until a cardholder chooses to redeem. They are also lowering the minimum cash back rewards redemption amount from $25 to $10 as of August 1st.
In addition to those change, CIBC are lowering the overall spending cap cards that is applied to the Dividend Card accelerated earn rates. For those who are not aware the CIBC Dividend Cards have two spending caps applied, one that is direct for the accelerated earn rates and then one for all spending on the card (that then affects the accelerated earn rates) and these changes affect the latter:
- For the CIBC Dividend Visa Infinite* Card, we are reducing the net annual card purchase limit applicable to the 4% and 2% cash back offers to the first $50,000 in net annual card purchases. (The accelerated earn categories spending cap remains at $20,000 annually)
- For the CIBC Dividend Platinum Visa* Card, we are reducing the net annual card purchase limit applicable to the 3% and 2% cash back offers to the first $30,000 in net annual card purchases. (The accelerated earn categories spending cap remains at $20,000 annually)
- For the CIBC Dividend Visa Card, we are reducing the net annual card purchase limit applicable to 2% and 1% cash back offers to the first $30,000 in net annual card purchases. (The accelerated earn categories spending cap remains at $20,000 annually)
Changes to Insurance Coverage
Several of the CIBC cards are also losing some of aspects of their insurance coverage:
- For the CIBC Gold Visa Cards and CIBC Aventura Mastercard Cards with a $99 annual fee, we are removing Trip Interruption Insurance.
- For CIBC Aventura Visa Cards, we are removing Auto Rental Collision/ Loss Damage Insurance.
- For CIBC Classic Visa Cards, CIBC Aventura Mastercard Cards with a $39 annual fee and CIBC Select Visa Cards, we are removing Common Carrier Accident Insurance.
- For CIBC Dividend Visa Cards, we are removing Common Carrier Accident Insurance
- For CIBC Dividend Unlimited World Elite® Mastercard® Cards and CIBC Dividend Unlimited World Mastercard® Cards, we are removing Common Carrier Accident Insurance and Trip Interruption Insurance
Removal of common carrier insurance isn’t that huge of deal but the no fee Aventura Visa is losing car rental coverage, that’s a bit of a hit to that card!
Wrapping it up
Both good and bad news coming from CIBC with some upcoming changes to their cards. The good news is the increased NEXUS rebate benefit and the lowering of the cash back cash out limit. The bad new is the lowering of the overall spending caps on the Dividend Cards and the removal of some insurance coverage. Overall, in the grand scheme of things I would lean to this being more positive news with the increased NEXUS credit and now we await for a game of follow the leader to see who will be the next card issuer to increase their NEXUS benefits!