Overall rating
First year value
$0
Get this card if you:
- want a simple, no-frills credit card
- value purchase protection and extended warranty coverage
- want to build out your credit history
Scores by category
No Annual Fee 0.8
Highlights
Interest Rates
20.99%
Purchase APR
22.99%
Balance transfer APR
22.99%
Cash advance APR
Eligibility
Good
Recommended credit score
$15,000
Required annual household income
Quick overview of the CIBC Classic Visa* Card card
The CIBC Classic Visa* Card is a simple, $0 annual fee card that gives you insurance coverage and perks like no transaction fees when you send money abroad using CIBC’s Global Money Transfer. With this card, you can enjoy making small purchases faster with Visa’s payWave™ and take advantage of Visa’s wide payment network, meaning that your card will be accepted worldwide.
Who’s the CIBC Classic Visa* Card card for?
The CIBC Classic Visa* credit card is great for anyone who is looking for a card with no annual fee and basic insurance coverage like purchase protection. If you’re a new credit card user in Canada, you’re just building your credit history and don’t need any fancy rewards, this is a great option to consider as the minimum income requirement is only $15,000, which is lower than most cards on the market.
CIBC Classic Visa* Card card for students
If you’re a student who’s just starting school or currently in school, you can look into the CIBC Classic Visa* Card card for students and enjoy one year of free SPC+ membership. There’s no minimum income requirement and, best of all, you get great insurance coverage like $100,000 in common carrier accident insurance.
Check out the best student credit cards in Canada.
Pros and cons of the CIBC Classic Visa* Card Card
Pros
-
$0 for up to 3 additional cards
-
Save three cents per litre on gas through Journie Rewards
-
Send money abroad using CIBC Global Money Transfer™ and skip the transaction fee
-
90 day purchase protection
-
Cons
-
No rewards on spending
CIBC Classic Visa* Card card key benefits
Here are the key benefits of the CIBC Classic Visa* Card card:
- Savings on gas: Link your card with your Journie Rewards and save up to 10 cents per litre on your gas purchase from participating gas stations.
- Optional add ons: You can add on more insurance benefits by choosing to include CIBC travel medical insurance and CIBC’s Payment Protector insurance.
- Global money transfer: When you use CIBC’s Global Money Transfer™, you can easily send money abroad and skip the additional transaction fees.
CIBC Classic Visa* Card card insurance coverage
Here are the insurance benefits you get with the CIBC Classic Visa* Card card:
- $100,000 common carrier accident insurance: When you charge your travel tickets to your CIBC classic card, you’re covered for up to $100,000for any accident that occurs while traveling.
- Purchase security and extended protection insurance: Your new items are automatically protected for 90 days from any loss, theft or damages when the full purchase price is charged to the card.
How the CIBC Classic Visa* Card card compares
Let’s see how the CIBC Classic Visa* Card card compares with other great no annual credit cards in Canada.
$484
First Year Value
$384
Annual Value
Welcome Bonus: Get a bonus 10% cash back for the first 2 months – up to $100. Plus, a 1.95% promotional balance transfer interest rate for the first 6 months.
Get this card if you...
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
-
Our Take
The Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.
Tangerine Money-Back Credit Card ReviewEligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
-
Pros
Cons
-
-
Annual Interest Rates
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
1.95%
Balance Transfer (Introductory)
24.95%
Penalty
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
$3.5
Cash Advance
$25
Over The Limit Penalty
$25
Return Penalty
-
Rewards cash back
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
-
Get a bonus 10% cash back – up to $100. Applies to purchases in your first 2 months. Plus, a 1.95% promotional balance transfer interest rate for the first 6 months.
The Tangerine 10% Limited-time Promotional Offer (the “Offer”) is only available to new Tangerine Credit Card Account holders who (i) apply for a Tangerine World Credit Card (the “Account”) by January 31, 2025, (ii) activate their Account within 45 days of approval, and (iii) have up to a maximum of $1,000 in total Net Purchases posted to their Account within the 60-day period beginning on the date the Tangerine World Credit Card is activated. Limit of one Offer per eligible Client. This Offer is non-transferable. Offer may be changed, cancelled or extended at any time. All other Account terms, including the Tangerine Money-Back Rewards program terms, remain unchanged and continue to apply. See the Tangerine Credit Card Cardholder Agreement for more details, including definitions of any capitalized terms.
Our Take
The Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.
Tangerine Money-Back Credit Card ReviewEligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
Cons
Annual Interest Rates
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
1.95%
Balance Transfer (Introductory)
24.95%
Penalty
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
$3.5
Cash Advance
$25
Over The Limit Penalty
$25
Return Penalty
Rewards cash back
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Get a bonus 10% cash back – up to $100. Applies to purchases in your first 2 months. Plus, a 1.95% promotional balance transfer interest rate for the first 6 months.
The Tangerine 10% Limited-time Promotional Offer (the “Offer”) is only available to new Tangerine Credit Card Account holders who (i) apply for a Tangerine World Credit Card (the “Account”) by January 31, 2025, (ii) activate their Account within 45 days of approval, and (iii) have up to a maximum of $1,000 in total Net Purchases posted to their Account within the 60-day period beginning on the date the Tangerine World Credit Card is activated. Limit of one Offer per eligible Client. This Offer is non-transferable. Offer may be changed, cancelled or extended at any time. All other Account terms, including the Tangerine Money-Back Rewards program terms, remain unchanged and continue to apply. See the Tangerine Credit Card Cardholder Agreement for more details, including definitions of any capitalized terms.
CIBC Classic Visa* Card Card vs. Tangerine Money-Back Credit Card
Both the CIBC Classic Visa* Card and Tangerine Money-Back have no yearly fee but the Tangerine Money-Back Credit Card offers you more bang for your buck with its flexible cash back rewards program, welcome bonus and insurance perks. You can earn 2% back in up to two categories of your choice and add on a third bonus category when you sign up for a Tangerine savings account. You earn 0.5% unlimited cash back on everything else. Best of all, there’s no spending cap. The insurance perks that come with the Tangerine Money-Back include rental car collision loss, mobile device insurance, purchase protection and extended warranty. See our Tangerine Money-Back Credit Card review.
earn 10,000 pts
Welcome Bonus
$460
First Year Value
$360
Annual Value
Welcome Bonus: 10,000 Membership Rewards® points* when you spend $1,000 on your Card within the first 3 months as a new Cardmember.*
Get this card if you...
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
21.99%
Cash Advance
-
Our Take
The American Express® Green Card is a no-annual-fee credit card that allows cardholders to earn points on all purchases, with additional points for eligible hotel and car rental bookings made through American Express Travel. It also provides benefits such as purchase protection, extended warranty and access to exclusive events through American Express® Experiences.
American Express® Green Card ReviewEligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
-
Pros
Cons
-
-
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$0
Annual Fee
$2.5
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
-
Rewards Membership Rewards
1x
the points on Card purchases
1
additional Membership Rewards® point for every $1 you charge to your American Express® Green Card on eligible hotel or car rental bookings made with American Express Travel
-
Earn 10,000 Membership Rewards® points* when you spend $1,000 on your Card within the first 3 months as a new Cardmember.*
That’s $100 towards your next shopping spree or ordering dinner in.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Our Take
The American Express® Green Card is a no-annual-fee credit card that allows cardholders to earn points on all purchases, with additional points for eligible hotel and car rental bookings made through American Express Travel. It also provides benefits such as purchase protection, extended warranty and access to exclusive events through American Express® Experiences.
American Express® Green Card ReviewEligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
Cons
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$0
Annual Fee
$2.5
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
1x
the points on Card purchases
1
additional Membership Rewards® point for every $1 you charge to your American Express® Green Card on eligible hotel or car rental bookings made with American Express Travel
Earn 10,000 Membership Rewards® points* when you spend $1,000 on your Card within the first 3 months as a new Cardmember.*
That’s $100 towards your next shopping spree or ordering dinner in.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
CIBC Classic Visa* Card card vs. American Express® Green Card
The American Express® Green Card is a no annual fee credit card that comes with a rewards program. Unlike most rewards cards on the market, this card has no income requirements. You can earn 1x the points on Card purchases. 1 additional Membership Rewards® point for every $1 you charge to your card on eligible hotel or car rental bookings made with American Express Travel. You can choose to redeem your points for cash back, gift cards and travel credit through Amex’s rewards portal. The American Express® Green Card also comes with a generous welcome offer. As compared to the CIBC Classic Visa* Card, this card comes out as the clear winner. See our full review on the Amex Green credit card.
Contact American Express for the most up-to-date referral bonus figures. American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
CIBC Classic Visa* Card card vs. CIBC Dividend® Visa* Card
CIBC offers another no annual fee credit card, the CIBC Dividend® Visa* Card. Let’s see how the CIBC Classic Visa* Card compares to the CIBC Dividend® Visa* Card.
Card name |
CIBC Classic Visa* Card Card reviewed
|
CIBC Dividend® Visa* Card |
---|---|---|
Annual fee | $0 | $0 |
Welcome offer | N/A | Get up to 10 cents off per litre at participating gas stations with Journie Rewards. |
Insurance |
$100,000common carrier accident insurance
Purchase security and extended protection insurance |
$100,000common carrier accident insurance
Purchase security and extended protection insurance |
Benefits |
Save up to 10 cents off per litre when you purchase gas through your Journie Rewards at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations
Send money abroad using CIBC's Global Money Transfer and skip the transaction fees |
Earn 2% cash back on eligible groceries†, 1% cash back on eligible gas, electric vehicle charging, transportation, dining and recurring payments and 0.5% on all other purchases |
Read our review | Currently reading | CIBC Dividend® Visa* Card review |
Apply Now | Visit CIBC | Apply Now |
While both cards have the benefit of a $0 annual fee, the CIBC Dividend card has a great welcome bonus and cash back rewards, which can help you save money as you spend, making it the better option.
Is the CIBC Classic Visa* Card card worth it?
If you’re a student or someone who wants to start building out their credit history in Canada, then the CIBC Classic Visa* Card is a good option. But, if you are looking for additional credit card perks and benefits then you should check out the best no annual fee credit cards in Canada to find a card that does exactly that.
†Terms and Conditions Apply. This offer is not available for residents of Quebec.
The information for the CIBC Classic Visa* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.
Lubna Umar is an experienced writer in the field of personal finance, with over six years of expertise under her belt. Her portfolio features comprehensive guides on personal finance, mortgages, car insurance, and in-depth credit card reviews. Lubna has had the opportunity to work for several prominent brands in the finance sector, including RATESDOTCA, LowestRates, InsuranceHotline, and the Financial Post.
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†Terms and Conditions apply.