CIBC Dividend Platinum Visa Card review
Best for: Households that want 3% back on groceries and gas with a low income requirement.
- Welcome bonus
- Up to $300 cash back
- Rewards rate
- 1% - 3% cash back
- Annual fee
- $99
- Interest rates
- 21.99% / 22.99% Purchase / cash advance
- FX fee
- 2.5%
The bottom line
The CIBC Dividend Platinum Visa pays 3% cash back on groceries, gas and EV charging, and 2% on transportation, dining, recurring payments and CIBC by Expedia travel. Its household income requirement is a low $15,000. At $99 a year, though, it costs just $21 less than the Dividend Visa Infinite, which pays 4% on groceries.
Welcome bonus
Up to $300 cash back
10% bonus on up to $2,000 in net purchases over first 4 statements; set up one pre-authorized payment within first 4 statements.
Rewards & earn rates
| Category | Earn rate |
|---|---|
| Groceries | 3% |
| Gas & EV charging | 3% |
| Transportation | 2% |
| Dining | 2% |
| Recurring payments | 2% |
| Travel via CIBC by Expedia | 2% |
| Everything else | 1% |
Rates & fees
| Annual fee | $99First year rebated under current offer; $30 per additional card |
|---|---|
| Monthly equivalent | $8.25 |
| Foreign transaction fee | 2.5% |
| Purchase interest rate | 21.99% |
| Cash advance rate | 22.99% |
| Network | Visa |
Insurance coverage
- Purchase security and extended protection
- Included
- Common carrier accident
- $500,000
- Car rental collision and loss damage
- Included
Perks & benefits
- 3% cash back on gas, EV charging and groceries
- 2% on transportation, dining and recurring payments
- Low $15,000 household income requirement
- Up to 10 cents off per litre with Journie Rewards
- Free Skip+ membership when linked
Eligibility
- Recommended credit score
- 720+ (excellent)
- Minimum personal income
- None stated
- Minimum household income
- None stated
Pros & cons
Pros
- 3% cash back on groceries, gas and EV charging
- 2% on transportation, dining and recurring payments
- Low $15,000 household income requirement
- First-year fee rebated under the current offer
Cons
- The $120 Dividend Visa Infinite pays 4% on groceries for $21 more
- $30 fee for each additional card
- 2.5% foreign transaction fee
Our detailed review
How the Dividend Platinum earns cash back
The card has three tiers. Groceries and gas, including EV charging, earn 3% cash back. Transportation, dining, recurring payments and travel booked through CIBC by Expedia earn 2%. Everything else earns 1%.
Take an example household that spends $600 a month on groceries, $200 on gas, $150 on dining, $100 on transportation, $200 on recurring payments and $500 on everything else. It would earn $18 from groceries, $6 from gas, $3 from dining, $2 from transportation, $4 from recurring payments and $5 from the rest, or $38 a month. That’s $456 a year, or $357 after the $99 fee.
The welcome offer
New cardholders get a 10% bonus on up to $2,000 in net purchases over the first four statements, and must set up one pre-authorized payment within that period. The 10% bonus on $2,000 works out to $200.
CIBC advertises the overall offer as up to $300 cash back, so check the offer terms to see how the full amount is reached. The $2,000 target averages $500 per statement, which a household budget like the one above clears without any extra effort.
Perks and everyday extras
Linking the card gets you a free Skip+ membership, and Journie Rewards saves up to 10 cents per litre on gas. Combined with the 3% gas rate, that’s a useful pairing for drivers who fill up regularly.
The $15,000 household income requirement is low, which makes the card open to many households that want strong grocery and gas rates without stretching to a higher-tier card.
Fees, interest and the fine print
The annual fee is $99, about $8.25 a month, and it’s rebated in the first year under the current offer. Each additional card costs $30, so adding a partner brings the total to $129 once the rebate period is over.
Foreign currency purchases carry a 2.5% fee, about $25 per $1,000. Purchases are charged 21.99% and cash advances 22.99%, so pay the full balance each month to keep interest from eating into your cash back.
Insurance coverage
The insurance package covers purchases, common carrier travel and rental cars, but there’s no travel medical or mobile device coverage in the list. Check the certificate for limits and exclusions.
- Purchase security and extended protection
- Common carrier accident insurance up to $500,000
- Car rental collision and loss damage
Who it suits, and who should look elsewhere
The Dividend Platinum suits households whose budgets centre on groceries and gas, and who want strong cash back rates with a low income requirement.
If you qualify for the Dividend Visa Infinite, compare the two closely before choosing. And if you spend little in the bonus categories, a no-fee card may leave you better off once the $99 fee is counted.
How it compares
The CIBC Dividend Visa Infinite Card costs $120 a year, $21 more, and pays 4% on groceries, with a welcome offer of up to $350 cash back. On $600 a month of groceries, the extra 1% is worth $72 a year, well above the fee difference.
The CIBC Dividend Visa Card has no annual fee and earns 2% on groceries. If your grocery and gas spending is modest, the no-fee version may leave you with more once the Platinum’s $99 fee is taken into account.
Before you apply
The recommended credit score is 720 or higher, and CIBC makes the final decision based on your full credit profile. Confirm the current welcome offer and fee rebate on CIBC’s website before you apply.
How it compares
- 48 of the 105 credit cards we track cost less per year, and 52 cost more.
- Charges the same 2.5% foreign transaction fee as 94 other cards we track.
- Spending $1,000 in a foreign currency adds about $25 in FX fees, or $125 on $5,000.
Side by side with similar picks
| CIBC Dividend Platinum Visa Card |  Meridian Visa Infinite Cash Back Card |  Meridian Visa Infinite Travel Rewards Card |  RBC Cash Back Preferred World Elite Mastercard | |
|---|---|---|---|---|
| Annual fee | $99 | $99 | $99 | $99 |
| FX fee | 2.5% | 2.5% | 2.5% | 2.5% |
| Rewards rate | 1% - 3% | 1% - 4% | 1.5x - 3x | 1.5% |
| Purchase interest | 21.99% | 19.50% | 19.50% | 20.99% |
| Welcome bonus | Up to $300 cash back | Up to $70 cash back | Up to 7,000 points | — |
| Offered by | CIBC | Meridian | Meridian | RBC |
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Frequently asked questions
Does the CIBC Dividend Platinum Visa Card have an annual fee?
Yes. The CIBC Dividend Platinum Visa Card has an annual fee of $99, about $8.25 a month. First year rebated under current offer; $30 per additional card.
Does the CIBC Dividend Platinum Visa Card charge foreign transaction fees?
Yes. The CIBC Dividend Platinum Visa Card charges a 2.5% foreign transaction fee on purchases in currencies other than Canadian dollars.
What is the CIBC Dividend Platinum Visa Card welcome bonus?
Up to $300 cash back. 10% bonus on up to $2,000 in net purchases over first 4 statements; set up one pre-authorized payment within first 4 statements.
How much does the CIBC Dividend Platinum Visa Card earn?
3% on groceries, 3% on gas & ev charging, 2% on transportation, 2% on dining, 2% on recurring payments, 2% on travel via cibc by expedia, 1% on everything else.
What is the interest rate on the CIBC Dividend Platinum Visa Card?
21.99% on purchases and 22.99% on cash advances. You can avoid purchase interest by paying your full statement balance by the due date.
What credit score do you need for the CIBC Dividend Platinum Visa Card?
The recommended credit score for the CIBC Dividend Platinum Visa Card is 720+ (excellent). CIBC makes the final decision based on your full credit profile.
Should you choose the CIBC Dividend Platinum or the Dividend Visa Infinite?
If you qualify for both, look at your grocery spending. The Visa Infinite costs $21 more a year and pays 4% on groceries instead of 3%, so anyone spending more than $175 a month on groceries earns enough extra to cover the difference. The Platinum’s advantage is its low $15,000 household income requirement.
How do you earn the full CIBC Dividend Platinum welcome bonus?
Make up to $2,000 in net purchases over your first four statements to earn the 10% bonus, and set up one pre-authorized payment in that period. CIBC lists the total offer as up to $300 cash back, so check the terms for how the full amount is calculated.
Is the CIBC Dividend Platinum Visa worth $99 a year?
In our example, a household spending $1,750 a month across the card’s categories earns $456 a year, or $357 after the fee. The more of your spending that goes to groceries and gas, the easier the fee is to cover.
Who offers the CIBC Dividend Platinum Visa Card?
The CIBC Dividend Platinum Visa Card is offered by CIBC. Applications are reviewed and approved by CIBC, not by CreditLab.
Rates, fees and offers come from CIBC’s published terms and can change at any time. Confirm the current terms with CIBC before applying. CreditLab may earn a commission from partner links; this never changes the facts we show. See our methodology.