CIBC Dividend Platinum Visa Card: A Comprehensive Overview

The CIBC Dividend Platinum Visa Card is a popular choice for Canadians looking to earn rewards on their everyday purchases. It offers a competitive 2% cash back reward on all purchases, with no rotating categories or spending limits.

One of the standout features of this card is its lack of annual fee for the first year, making it an attractive option for those who want to try out the card before committing to a fee.

The CIBC Dividend Platinum Visa Card comes with an annual fee of $99 for the primary card, with additional cards costing $30 each annually.

You can expect to pay a total of $120 for the card if you have three supplementary cards, but the first year's fee is waived.

The purchase interest rate on the card is 20.99%, while cash advances are charged at 22.99%.

The minimum annual income requirement to apply for the card is $15,000 household.

Here's a breakdown of the costs associated with the card:

The first year's fee for the primary card and up to three additional cards is waived, saving you a total of $129.

The CIBC Dividend Platinum Visa Card rewards you with cash back on your purchases. You can earn 3% cash back on eligible gas, EV charging, and grocery purchases.

The card also offers 2% cash back on eligible transportation, dining purchases, and recurring payments. This rate applies until you reach an annual spending cap of $20,000.

Once you hit this cap, or total spending of $80,000, your earn rates drop to 1% on all other purchases. This is a good thing to keep in mind if you're planning to use the card for big-ticket items.

Here are the earning rates in a nutshell:

You can redeem your cash back rewards once your balance reaches $25. This is a relatively flexible policy compared to other cash back credit cards on the market.

Earning rewards is a key benefit of using a credit card, and it's essential to understand how your card works. The card earns cash back rewards, with different rates for different types of purchases.

You can earn 3% cash back on eligible gas, EV charging, and grocery purchases. This is a great rate, especially if you regularly fill up your tank or buy groceries.

The card also offers 2% cash back on eligible transportation, dining purchases, and recurring payments. This is a solid rate for everyday purchases, like eating out or paying bills.

Additionally, you can earn 1% cash back on all other purchases. This is a decent rate for miscellaneous expenses, like entertainment or personal care items.

Here's a breakdown of the earning rates:

It's worth noting that there's an annual spending cap of $20,000 on the accelerated 2% and 3% earn rates. Once you reach that cap (or $80,000 in total spending on the card), those earn rates drop down to the base rate of 1%.

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Redeeming your cash back rewards with the CIBC Dividend Platinum Visa Card is a straightforward process. You can redeem your cash back via CIBC Online Banking or the CIBC Mobile Banking App once your balance reaches $25.

The primary cardholder can redeem cash back at any time during the year, provided they have a minimum cash back balance of $25 at the time the redemption request is made.

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The CIBC Dividend Platinum Visa card comes with some great features and benefits. You can save up to 10 cents per litre at participating gas stations when you link your card with Journie Rewards.

One of the card's best features is its cash back rewards program. You can earn 3% cash back on eligible groceries, gas, and electric vehicle charging, 2% cash back on eligible transportation, dining, and recurring payments, and 1% cash back on all other eligible purchases.

You can also earn extra More Rewards points for grocery shopping with the Save-On family of grocery stores. This can add up to a lot of rewards points over time.

Here are some of the benefits you can expect from the CIBC Dividend Platinum Visa card:

The annual fee for the card is $99, but it's rebated in the first year. You can also earn up to $660 in annual cash back with an average monthly spend of $2,700.

With the card's valuable benefits, you can enjoy perks like Purchase Security and Extended Protection Insurance, Auto Rental Collision and Loss Damage Insurance, and more.

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The CIBC Dividend Platinum Visa card has some great perks that make it a solid choice for cash back rewards. The welcome bonus of 10% back on the first $2,000 spent in the first four statement periods is one of the better offers in the market.

One of the standout features of this card is its accelerated earn rates. You'll earn 3% cash back for gas, EV charging, and groceries, which is a great return for those highly utilized categories.

The earn rates aren't limited to just a few categories, either - you'll also earn 2% back on transportation, dining purchases, and recurring payments.

Redeeming your cash back is easy, too - you can do it anytime your balance reaches $25. This low limit makes it simple to realize the savings this card can provide.

However, there are some limitations to consider. The annual cap on the accelerated earn rates is on the low side at $20,000, which might be a problem for those who spend more than that in their preferred categories.

The cap is combined across all the accelerated spend categories, which means each time you make a 2% purchase, you're taking away potential 3% cash back from future purchases.

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The CIBC Dividend Platinum Visa Card is a great option for consumers who want a hassle-free cash back experience. If you're looking for a card that's easy to use and rewarding, this might be the one for you.

The card is also a good fit for consumers who bank with CIBC and want to keep all their financial products with the bank. This can make managing your finances easier and more convenient.

Consumers who don't meet the income requirements for the CIBC Dividend Visa Infinite Card may also find this card to be a suitable alternative. It offers a good cash back experience without the high income requirements.

The welcome bonus on the CIBC Dividend Platinum Visa Card is 10% cash back for the first four statements on net purchases of up to $3,000. This can be a great way to earn some extra cash back on your purchases.

The annual fee of $99 is rebated in the first year, making it a more affordable option for new cardholders. Supplementary cardholders come at a cost of $30 apiece, but the first three are rebated in the first year of card membership.

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The target audience for certain cash back cards is quite specific. Consumers who want an easy to use and rewarding cash back card are a good fit.

If you bank with CIBC, you may want to consider keeping all your financial products with the bank. This card is designed for consumers who want to do just that.

Consumers who don't meet the income requirements for the CIBC Dividend Visa Infinite Card have another option. This card is a good alternative for those who want a cash back card but don't qualify for the more exclusive card.

Here are some key characteristics of the target audience:

The CIBC Dividend Platinum Visa Card offers a welcome bonus of 10% cash back for the first four statements on net purchases of up to $3,000. This is a great incentive to sign up, but it's essential to understand the terms and conditions.

The annual fee for the primary card is $99, but it's rebated in the first year with the current offer. This is a significant saving, especially for new cardholders.

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Supplementary cardholders come at a cost of $30 apiece, but the first three are rebated in the first year of card membership. This makes it more affordable to add additional cards for family members or business partners.

The purchase interest rate on the card is 20.99%, while cash advances are charged 22.99%. It's essential to understand these rates to avoid any unnecessary interest charges.