Overall rating
First year value
$249
Get this card if you:
- want to earn cash back with no annual fee
- want flexibility in redeeming cash back
- want purchase protection and extended warranty coverage
Scores by category
Cash Back 3.3
Student 3.0
Groceries 2.8
No Annual Fee 2.3
Gas 1.7
At a glance
The CIBC Dividend® Visa* Card is a no-annual-fee cash back credit card offering elevated earn rates on eligible grocery purchases, with additional cash back on categories such as gas, electric vehicle charging, transportation, dining, and recurring payments. Cardholders benefit from features like purchase security, extended protection insurance, and the ability to redeem cash back at any time through CIBC Online and Mobile Banking.
Highlights
$249
First year value
up to 10¢ off/Litre
Welcome bonus
Interest Rates
20.99%
Purchase APR
non-Quebec residents†
22.99%
Balance transfer APR
non-Quebec residents†
22.99%
Cash advance APR
non-Quebec residents†
Eligibility
Good
Recommended credit score
$15,000
Required annual household income
Quick overview of the CIBC Dividend® Visa* Card
Cash back rewards are like finding money in your pocket every time you shop, turning your credit card into a money-earning machine that pays you to spend money you were going to spend anyway. If you're looking for a no-fee cash back option, we recommend the CIBC Dividend® Visa* Card as one of the strongest contenders in this category.
Who can benefit from the CIBC Dividend® Visa* Card?
The CIBC Dividend® Visa is ideal for:
- Canadians looking to earn cash back without paying an annual fee
- Frequent grocery shoppers who want to maximize everyday purchases
- Commuters who rely on gas, public transit, or ridesharing services
- People with recurring bill payments who want to earn while paying their monthly expenses
- Students seeking extra savings through the complimentary SPC membership
Pros and cons of the CIBC Dividend® Visa* Card
Pros
-
No annual fee
-
High earn rates on popular spending categories
-
Up to three additional cards at no extra cost
-
Low required household annual income of $15,000†
-
No limit on the cash back you can earn†
Cons
-
Low earn rates on everyday spending
-
Only option to redeem cash back rewards is statement credit
Welcome bonus with the CIBC Dividend Visa credit card
The CIBC Dividend Visa Card comes with a very modest welcome bonus for new accounts:
- Get up to 10 cents off per litre at participating gas stations with Journie Rewards.
That welcome bonus is in lieu of any cash back bonus and is a standard feature with the CIBC Dividend Platinum® Visa* Card, though that card does charge an annual fee of $99, waived for the first year.
How to earn cash back with the CIBC Dividend® Visa* Card
After the welcome offer ends, this credit card lets you earn [cash back on every purchase:
- Earn 2% cash back on eligible groceries†
- Earn 1% cash back on eligible gas, electric vehicle charging, transportation, dining and recurring payments†
An eligible grocery store is classified by the credit card network as a grocery store. Costco and Walmart, for example, are not classified as grocery stores, but Loblaws, Sobeys and No Frills are classified as grocery stores
Read more: Best grocery credit cards in Canada
- Cash back on grocery, gas, EV charging, commuting and dining purchases up to $20,000 annually
- Cash back on all other purchases up to $80,000 in total annual spending
- Limits reset after your December statement is printed
- Cash back is earned on purchases minus returns, not on cash advances
- Cash back does not apply to CIBC Global Money Transfers™, interest, fees, balance transfers or CIBC Convenience Cheques
- Merchant categories and terms may change without notice
Set up your recurring bill payments (like subscriptions, utilities, and streaming services) to charge automatically to your CIBC Dividend® Visa* Card. This no-hassle strategy lets you earn 1% back on expenses that you're paying anyway. Set it and forget it!
Cory Santos, Money.ca credit card expert
Redeeming cash back with the CIBC Dividend Visa
The CIBC Dividend® Visa* Card offers a straightforward redemption process designed for simplicity and convenience. Cash back accumulates throughout the year and is automatically credited to your account each December.
This automatic redemption system means you never have to worry about redemption minimums or point expiration. The full cash back amount earned during the previous 12 months appears as a credit on the December statement, reducing the outstanding balance and saving you headaches. A win-win!
Key benefits of the Dividend® Visa* Card from CIBC
After the welcome offer promotional period ends, you'll earn 2% cash back on eligible groceries, 1% cash back on eligible gas, electric vehicle charging, transportation, dining and recurring payments†. Plus, you'll receive 0.5% on everything else††. With no annual fee, you can enjoy these rewards for free.
With no annual fee to offset, every dollar of cash back represents pure value. This makes the CIBC Dividend® Visa* Card an excellent choice for budget-conscious Canadians looking to maximize returns on necessary expenses.
In addition to cash back rewards, this credit card offers some insurance coverage. You'll enjoy double the manufacturer's warranty on new purchases, up to one year, and $100,000 in common carrier insurance†. A
The combination of no annual fee, competitive cash back rates on essential spending categories, and practical insurance benefits makes this card an outstanding choice for Canadians seeking everyday value without ongoing costs.
CIBC Dividend® Visa* Card insurance coverage
The CIBC Dividend® Visa* Card doesn’t have the robust suite of insurance you’ll find with many fee-based cash back credit cards, but it does offer several additional perks and features beyond cash back rewards:
| Insurance | Coverage amount |
|---|---|
| Extended warranty | 1 year |
| Purchase protection | 90 days |
| Common Carrier travel accident insurance | Up to $100,000 |
- Car rental savings: Get up to 25% off vehicle rentals at Avis® and Budget® locations worldwide when you pay with your CIBC credit card.
- Send money abroad with $0 fees: Send money abroad to over 120 countries with a $0 transfer fee.
- CIBC mobile app access: Set up alerts, pay your bill, track your cash back rewards, and more with the CIBC Mobile Banking App and CIBC Online Banking.
- Mobile wallet connectivity
- Credit report alerts
How the CIBC Dividend® Visa* Card compares
As we mentioned above, your possibilities for a no-fee cash back credit card in Canada are not endless. That said, there are several good competitors in the market. Here’s how the CIBC Dividend® Visa* Card compares:
10% cash back
Welcome Bonus
$484
First Year Value
$384
Annual Value
Welcome Bonus: Earn 10% cash back for 2 months† (up to $100). Expires Apr 30, 2025
Get this card if you...
-
want flexible cash back categories
-
want unlimited cash back
-
want to avoid paying an annual fee
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.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
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
2.50%
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.
Earn 10% cash back for 2 months† (up to $100).
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.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
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
2.50%
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.
Earn 10% cash back for 2 months† (up to $100).
Though the Tangerine Money-Back may only offer 0.5% cash back on all purchases, it still gives you 2% back on two categories of your choice and also offers a reduced rate balance transfer, which is helpful in case you need to consolidate your credit balances.
| CIBC Dividend® Visa* Card | Tangerine Money-Back Credit Card |
|---|---|
|
Annual fee:
$0 |
Annual fee:
$0 |
|
Welcome offer:
Get up to 10 cents off per litre at participating gas stations with Journie Rewards. |
Welcome offer:
Earn 10% cash back for 2 months† (up to $100). |
|
Earn rates:
2% cash back on eligible groceries† and up to 1% 1% cash back on eligible gas, electric vehicle charging, transportation, dining and recurring payments,† 0.5% on everything else† |
Earn rates:
2% back on two categories of your choice, 0.5% back on all other purchases (Get a Tangerine Savings account and add a third 2% cash back category.) |
|
Insurance:
Extended Protection Insurance, Purchase Security, common carrier insurance† |
Insurance:
Extended warranty, purchase assurance |
|
Minimum income requirement:
$15,000 |
Minimum income requirement:
$12,000 |
| Apply Now | Apply Now |
Disclosures:
- †Terms and Conditions Apply
bonus 5% back
Welcome Bonus
$438
First Year Value
$338
Annual Value
Welcome Bonus: Earn a bonus 5% cash back on purchases in your first 3 months (up to $2,000 in purchases).
Get this card if you...
-
want to earn cash back, without an annual fee
-
value purchase protection and extended warranty coverage
-
want to maximize cash back rates, with no spending caps
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
21.99%
Cash Advance
Our Take
The SimplyCash® Card from American Express is a no-annual-fee credit card offering cash back on everyday purchases, with elevated rates for eligible gas and grocery store purchases in Canada, up to a specified annual limit. Cardholders benefit from purchase protection and extended warranty coverage.
Eligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
Pros
-
No annual fee for primary or additional cardholders
-
Solid regular cash back rate on all eligible purchases - up to 2% cash back on all eligible purchases
-
No limit to the amount of cash back you can earn at the base rate
Cons
-
Cash back is only applied as a statement credit once a year
-
Amex cards aren’t accepted by every merchant
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$0
Annual Fee
2.50%
Foreign Transaction
$29
Over The Limit Penalty
$45
Return Penalty
Rewards cash back
2%
cash back on eligible gas station purchases in Canada
2%
cash back on eligible grocery store purchases in Canada (up to $300 cash back annually)
1.25%
cash back on all other purchases
Insurance Benefits
$100,000
Travel accident insurance amount
Earn a bonus 5% cash back on purchases in your first 3 months (up to $2,000 in purchases).
That’s on top of your everyday cash back earn rates.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Our Take
The SimplyCash® Card from American Express is a no-annual-fee credit card offering cash back on everyday purchases, with elevated rates for eligible gas and grocery store purchases in Canada, up to a specified annual limit. Cardholders benefit from purchase protection and extended warranty coverage.
Eligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
Pros
-
No annual fee for primary or additional cardholders
-
Solid regular cash back rate on all eligible purchases - up to 2% cash back on all eligible purchases
-
No limit to the amount of cash back you can earn at the base rate
Cons
-
Cash back is only applied as a statement credit once a year
-
Amex cards aren’t accepted by every merchant
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$0
Annual Fee
2.50%
Foreign Transaction
$29
Over The Limit Penalty
$45
Return Penalty
Rewards cash back
2%
cash back on eligible gas station purchases in Canada
2%
cash back on eligible grocery store purchases in Canada (up to $300 cash back annually)
1.25%
cash back on all other purchases
Insurance Benefits
$100,000
Travel accident insurance amount
Earn a bonus 5% cash back on purchases in your first 3 months (up to $2,000 in purchases).
That’s on top of your everyday cash back earn rates.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
If you don’t see yourself spending enough to benefit from the CIBC Dividend® Visa* Card, the SimplyCash® Card from American Express might be more appealing to you. Earn 2% cash back on eligible gas station purchases in Canada, 2% cash back on eligible groceries in Canada (up to $300 cash back annually), and 1.25% cash back on everything else. Plus, the card’s welcome bonus is notable.
| CIBC Dividend® Visa* Card | SimplyCash® Card from American Express |
|---|---|
|
Annual fee:
$0 |
Annual fee:
$0 |
|
Welcome offer:
Get up to 10 cents off per litre at participating gas stations with Journie Rewards. |
Welcome offer:
Earn a bonus 5% cash back on purchases in your first 3 months (up to $2,000 in purchases). |
|
Earn rates:
2% cash back on eligible groceries† and up to 1% 1% cash back on eligible gas, electric vehicle charging, transportation, dining and recurring payments,† 0.5% on everything else† |
Earn rates:
Earn 2% cash back on eligible gas station purchases in Canada, 2% cash back on eligible groceries in Canada (up to $300 cash back annually) and 1.25% cash back on everything else. |
|
Insurance:
Extended Protection Insurance, Purchase Security, common carrier insurance† |
insurance:
Travel accident, buyer’s assurance, purchase protection, car rental and theft damage |
|
Minimum income requirement:
$15,000 |
Minimum income requirement:
N/A |
| Apply Now | Apply Now |
Disclosures:
-
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 Dividend® Visa* Card for Students
3.0
$100 cash back
Welcome Bonus
$349
First Year Value
$249
Annual Value
Welcome Bonus: Get $100 cash back after you make your first purchase within the first 4 months!†
Annual Fee & Annual Interest Rates
$0
Annual Fee
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
Eligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
Pros
-
Earn cashback on everyday purchases
-
Enjoy a Welcome Bonus
-
Redeem cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®†
-
Included SPC+ membership for eligible students†
Cons
-
Similar APR to other non-student cards
Annual Interest Rates
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
25.99%†
Penalty
Fees
$0
Annual Fee
2.50%†
Foreign Transaction
5.00%†
Balance Transfer
$5
Cash Advance
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
2%
cash back on eligible grocery purchases†
1%
cash back on eligible gas, EV charging, transportation, dining purchases and recurring payments†
0.5%
cash back on all other purchases†
Insurance Benefits
$100,000
Travel accident insurance amount
Get $100 cash back after you make your first purchase within the first 4 months!†
Eligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
Pros
-
Earn cashback on everyday purchases
-
Enjoy a Welcome Bonus
-
Redeem cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®†
-
Included SPC+ membership for eligible students†
Cons
-
Similar APR to other non-student cards
Annual Interest Rates
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
25.99%†
Penalty
Fees
$0
Annual Fee
2.50%†
Foreign Transaction
5.00%†
Balance Transfer
$5
Cash Advance
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
2%
cash back on eligible grocery purchases†
1%
cash back on eligible gas, EV charging, transportation, dining purchases and recurring payments†
0.5%
cash back on all other purchases†
Insurance Benefits
$100,000
Travel accident insurance amount
Get $100 cash back after you make your first purchase within the first 4 months!†
CIBC offers a student version of the card: the CIBC Dividend® Visa* Card for Students.
The CIBC Dividend Visa and the CIBC Dividend Visa Student card look alike, but they're purpose-built for different financial situations.
How the CIBC Dividend Student Visa differs from the no-fee version
Both cards offer the same earn rates on purchases and offers the same basic insurance protections and gas savings with Journie Rewards.
However, the student version differs in several other ways:
- 1 Income: The regular CIBC Dividend Visa requires a $15,000 minimum annual household income, while the student version has no minimum income requirement, making it accessible for students who may not have established income yet
- 2 Credit limits: The student CIBC Dividend Visa offers credit limits up to $5,000 for Canadian students (and up to $2,000 for international students). In comparison, the regular version of the card has no set maximum limit
- 3 Student perks: The CIBC Dividend® Visa* Card for Students includes a free SPC+ membership, giving students access to exclusive discounts at hundreds of brands and retailers—a benefit not available with the regular card.
Is the CIBC Dividend® Visa* Card for Students worth it?
If you're a student looking to build credit while earning rewards on everyday essentials, the CIBC Dividend Visa Student card is specifically designed for your needs, with no income requirements and student-specific perks. The regular CIBC Dividend Visa is better suited for non-students with established income who want similar cash back benefits.
Read more: The best student credit cards in Canada
Is the CIBC Dividend® Visa* Card worth it?
If the CIBC Dividend® Visa* Card regular earn rate was higher and new cardholders were offered a welcome bonus to accelerate their cash back, this card would be perfect.
While Extended Protection Insurance and Purchase Security are great tools, additional travel insurance would further enhance this credit card's appeal. The absence of a cash back limit and the option to obtain free supplementary cards make it a potentially excellent choice, depending on your individual spending habits.
CIBC Dividend® Visa eligibility requirements
To apply for the CIBC Dividend® Visa, you must meet certain eligibility requirements, including:
- Be a Canadian resident
- Be the age of majority in the province in which you live
- Have a credit score of ≥ 640.
- Have a minimum annual income of $15,000†
How to apply for the CIBC Dividend Visa credit card
You can apply for the CIBC Dividend® Visa* Card online, over the phone, or at your local branch. You must be a Canadian resident and the age of majority in your province. If you aren’t a CIBC customer already, you’ll need to provide information like your address and income. The entire process of applying takes about five minutes and you will get a response in as little as 60 seconds. There is no annual fee for the CIBC Dividend® Visa* Card, so applying is free.
Disclosures:
- †Terms and Conditions Apply. This offer is not available for residents of Quebec.
- The information for the CIBC Dividend® 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.
Jordann Brown is a freelance personal finance writer whose areas of expertise include debt management, homeownership and budgeting. She is based in Halifax and has written for publications including The Globe and Mail, Toronto Star, and CBC.
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.
Explore the latest articles
Trump’s actions push Canadians to travel domestic
Between Trump’s anti-Canadian rhetoric, border-crossing horror stories and changing policies, more Canadians are choosing local travel
Disclaimer
The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.
†Terms and Conditions apply.