Card at a Glance
| Feature | Details |
|---|---|
| Card name | CIBC Dividend Visa Infinite |
| Annual fee | $139 (often waived with CIBC account) |
| Minimum income | $60,000 personal / $100,000 household |
| Network | Visa Infinite |
| Rewards type | Cash back |
| Supplementary card | Free (unlimited) |
| Interest rate (purchases) | 20.99% |
| Interest rate (cash advances) | 22.99% |
| Foreign transaction fee | 2.5% |
| Insurance | Comprehensive (see below) |
Card terms confirmed as of August 2026. The annual fee, income requirements, and interest rates are set by CIBC and rarely change, but should be verified on CIBC’s credit cards page before applying.
Cash Back Rates
| Category | Rate | Cap |
|---|---|---|
| Groceries | 4% | First $6,000/year |
| Dining | 2% | No cap |
| Gas | 2% | No cap |
| Transit | 2% | No cap |
| Groceries (after $6K) | 1% | — |
| Everything else | 1% | No cap |
What Qualifies for Each Category
| Category | Included | Not Included |
|---|---|---|
| Groceries | Supermarkets, grocery stores | Costco, Walmart Supercentre |
| Dining | Restaurants, fast food, cafes | Restaurant delivery apps |
| Gas | Gas stations | Charging stations (EV) |
| Transit | Public transit, taxis, ride-share | Parking |
Important: Merchant category codes (MCC) determine eligibility. Some stores code differently than expected.
Cash Back Redemption
| Aspect | Details |
|---|---|
| Accumulation | Automatic on every purchase |
| Payout | Annual (December/January) |
| Minimum | None |
| Method | Statement credit, CIBC account deposit, or cheque |
You can also redeem mid-year for statement credits starting at $25 through CIBC Online Banking.
Annual Cash Back Estimate
Example: Moderate Spender
| Monthly Spend | Category | Annual Cash Back |
|---|---|---|
| $500 groceries ($6K/year) | 4% | $240 |
| $300 dining | 2% | $72 |
| $200 gas | 2% | $48 |
| $100 transit | 2% | $24 |
| $500 other | 1% | $60 |
| Total | $444 |
Net return with fee waived: $444/year
Net return with $139 fee: $305/year
Example: High Grocery Spender
| Monthly Spend | Category | Annual Cash Back |
|---|---|---|
| $800 groceries | 4% on $6K, 1% on $3.6K | $240 + $36 = $276 |
| $400 dining | 2% | $96 |
| $300 gas | 2% | $72 |
| $150 transit | 2% | $36 |
| $600 other | 1% | $72 |
| Total | $552 |
Grocery Cap: Does It Matter?
The $6,000 annual cap on 4% groceries equals $500/month. After the cap:
| Grocery Spending | Effective Grocery Rate |
|---|---|
| $500/month ($6K) | 4% (full bonus) |
| $750/month ($9K) | 3.0% blended |
| $1,000/month ($12K) | 2.5% blended |
For spending over $6,000/year on groceries, consider the Scotiabank Momentum Visa Infinite ($25,000 cap at 4%).
Annual Fee Waiver Strategies
The $139 fee can often be waived entirely:
| Method | Requirement |
|---|---|
| CIBC Smart Account | Hold premium chequing account |
| CIBC Smart Plus Account | Upgraded chequing package |
| CIBC Mortgage | Hold CIBC mortgage |
| Negotiation | Call retention when renewal approaches |
| First-year offer | Sign-up promotions often waive year 1 |
CIBC Relationship Value: If you bank with CIBC and get the fee waived, this card becomes one of the best no-fee premium cash back cards available.
Insurance Coverage
As a Visa Infinite card, the CIBC Dividend includes comprehensive insurance:
Travel Insurance
| Coverage | Details |
|---|---|
| Emergency medical | $500,000 (up to 15 days/trip) |
| Trip interruption | Up to $1,500/trip |
| Flight delay | $500 (6+ hour delay) |
| Lost/delayed baggage | $500 |
| Hotel burglary | $500 |
Medical coverage conditions:
- Age limit: Coverage varies by age (check policy)
- Pre-existing conditions: 60-day stability clause
- Must charge travel to card
Vehicle Rental Insurance
| Coverage | Details |
|---|---|
| Collision/damage waiver (CDW) | Up to $65,000 value |
| Eligible vehicles | Cars, SUVs, minivans |
| Geographic coverage | Canada, US, and most countries |
| Rental period | Up to 48 consecutive days |
Important: Decline the rental company’s CDW to activate coverage. Does not cover trucks, motorcycles, exotic cars, or vehicles rented for commercial use.
Purchase Protection
| Coverage | Details |
|---|---|
| Extended warranty | Extra year on manufacturer warranties (up to 1 year) |
| Purchase protection | 90 days against damage/theft (up to $50,000/year) |
| Mobile device protection | Not included |
CIBC Dividend Visa Infinite vs Platinum
CIBC offers two Dividend cards:
| Feature | Visa Infinite | Platinum |
|---|---|---|
| Annual fee | $139 | $99 |
| Min income | $60,000 | None |
| Groceries | 4% (first $6K) | 3% (first $6K) |
| Dining/Gas/Transit | 2% | 1.5% |
| Other | 1% | 0.5% |
| Travel insurance | Comprehensive | Basic |
| Car rental CDW | Yes | No |
| Lounge access | No | No |
Verdict: The Visa Infinite is worth the extra $40 for the higher earn rates and better insurance, especially if you can get the fee waived.
Comparison: Premium Grocery Cards
| Feature | CIBC Dividend VI | Scotiabank Momentum VI | BMO CashBack Elite |
|---|---|---|---|
| Annual fee | $139 | $139 | $120 |
| Groceries | 4% ($6K cap) | 4% ($25K cap) | 5% |
| Dining | 2% | 4% | 1% |
| Gas | 2% | 2% | 4% |
| Bills | 1% | — | 3% |
| Other | 1% | 1% | 1% |
| Fee waiver | With CIBC account | With Scotiabank account | No |
Comparison Analysis
Choose CIBC Dividend VI if:
- You bank with CIBC and can get fee waived
- Grocery spending is under $6,000/year
- You value transit rewards (2%)
Choose Scotiabank Momentum VI if:
- Grocery spending exceeds $6,000/year
- Dining is a major spending category (4% vs 2%)
- You want Scene+ points flexibility
Choose BMO CashBack Elite if:
- Recurring bills are a major category (3%)
- You want highest grocery rate (5%)
- Gas spending is high (4%)
Welcome Offer
CIBC periodically offers sign-up bonuses. Typical offers include:
| Offer Type | Typical Value |
|---|---|
| Cash back bonus | $150-$300 after spending requirement |
| First-year fee waiver | $139 value |
| Elevated earn rate | 10x points first 2-3 months |
Check the current offer at cibc.com before applying. Offers change frequently.
Application Requirements
| Criterion | Requirement |
|---|---|
| Age | 18+ (19+ in some provinces) |
| Residency | Canadian resident |
| Income | $60,000 personal or $100,000 household |
| Credit history | Good to excellent |
Income qualification: CIBC may ask for income verification for first-time customers or large credit limits.
Pros and Cons
Pros
| Advantage | Details |
|---|---|
| High grocery rate | 4% is among the best |
| Fee waiver available | Free with qualifying CIBC account |
| Comprehensive insurance | Travel medical, CDW, purchase protection |
| Free supplementary cards | Add family members at no cost |
| Multiple 2% categories | Dining, gas, and transit all included |
Cons
| Disadvantage | Details |
|---|---|
| $6,000 grocery cap | Heavy spenders hit the limit |
| Income requirement | $60K minimum excludes some |
| 2.5% FX fee | Don’t use abroad |
| Annual payout | Wait for cash back |
| Relationship dependent | Best value requires CIBC banking |
Who Should Get This Card
| Profile | Recommendation |
|---|---|
| CIBC banking customer | ✅ Excellent — get fee waived |
| Grocery spender (<$6K/year) | ✅ Good — 4% is strong |
| GTA commuter | ✅ Good — 2% on TTC, Presto |
| Heavy grocery spender (>$6K) | ⚠️ Consider Scotiabank Momentum |
| No CIBC relationship | ⚠️ $139 fee reduces value |
| Frequent traveler | ⚠️ Travel card may be better |
How to Apply
- Online — Apply at cibc.com in ~10 minutes
- In-branch — Visit any CIBC location
- Phone — Call CIBC
Decision timeline: Instant approval for many applicants; some require 7-10 business days for review.
Alternatives to Consider
| Alternative | Why Consider |
|---|---|
| Scotiabank Momentum VI | Higher grocery cap ($25K), better dining (4%) |
| BMO CashBack Elite | 5% groceries, 4% gas |
| Tangerine Money-Back MC | No fee, 2% on 3 categories |
| Rogers World Elite MC | 1.5% everywhere, no FX fee |