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Author: Money.ca

By Money.ca

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We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware this post may contain links to products from our partners. We may receive a commission for products or services you sign up for through partner links.

If you’re a Canadian who travels regularly and you’re in the market for a credit card that offers a generous welcome bonus, plenty of perks, and a comprehensive travel insurance program, the CIBC Aventura® Visa Infinite* Card is worth a closer look.

At a glance

  • $139 annual fee (rebated for the first year), including on up three additional authorized users ($50 each): over $189 in value†
  • 15,000 Aventura points when you make your first purchase†
  • 5,000 Aventura Points on first purchase within first 4 months†
  • 20,000 Aventura Points when you spend $3,000 or more in the first four monthly statement periods†
  • Get a NEXUS◇ application fee rebate ($50 USD value)†
  • Elevate your airport experience with four complimentary visits at 1,200+ lounges globally through Visa Airport Companion Program: over $190 in value.†
  • 1.5 points for every $1 spent on eligible gas stations, EV charging, grocery stores, and drug stores†
  • 1 point for every $1 spent on all other eligible purchases†
  • Comprehensive travel insurance†
  • Insurance coverage up to $1000 for mobile devices purchased with the card†

Rewards structure

CIBC Aventura® Visa Infinite* cardholders will receive one to two Aventura points for every $1 of eligible purchases made on their credit card:

  • 2 points per $1 spent on travel purchases through the CIBC Rewards Centre†
  • 1.5 points for every $1 spent on eligible purchases at eligible  gas stations, EV charging, grocery stores, and drug stores†. This special earn rate in these categories is only available on the first $80,000 in net annual card purchases on your account (meaning all card purchases by all cardholders, at any type of merchant), including on supplementary cards; after exceeding $80k in purchases, cardholders will earn 1 point per $1 spent in these categories until the annual limit resets each December.
  • All other eligible purchases will earn 1 point per $1 spent.†

New cardholders who apply will receive a welcome bonus of up to 15,000 Aventura Points after making the first eligible purchase on the card†, and 20,000 Aventura Points when you spend $3,000 or more in the first four monthly statement periods†. See “About Aventura Points” below to learn more about how you can use your points.

About Aventura points

Unlike some competing credit card rewards programs, Aventura points are relatively easy to understand and use.

When using CIBC Aventura points for travel-related purchases, the redemption rate is variable depending on your destination when booking with any of several airlines available through the CIBC Rewards program.

The Aventura Airline Rewards Chart includes five flight categories: short- and long-haul between the US and Canada, flights to Europe and the rest of the world, and a range of points required to redeem for flights in each category.

Short-haul flights, such as Toronto to New York City, can be booked for as low as 10,000 points plus tax, while European destinations can be booked for 50,000-70,000 points plus tax. Taxes and fees do need to be paid on top of the base fair, but you can use your points to pay for them at a rate of 1 point per 1 cent.

One of the best things about using Aventura points to book travel is that there are no blackout dates, since you are booking in real time. You can also call CIBC Rewards to book anything that you have found on Expedia or Orbitz.

Finally, Aventura points can be redeemed for gift cards, a statement credit, financial products such as a TFSA contribution with CIBC, and merchandise, but these redemption paths offer less value compared to travel rewards redemptions.

Additional benefits

The CIBC Aventura® Visa Infinite* Card has lots of additional benefits and perks, some of which are a part of the Visa Infinite program, that will come in handy both at home in Canada and while travelling abroad. Among the most notable is Mobile Device Insurance† coverage, which reimburses cardholders up to $1000 for a mobile device that is lost, stolen, or accidentally damaged. The phone needs to be purchased on the CIBC Aventura Visa Infinite Card for this insurance to apply.

Two other great perks for travellers include the rebate on the NEXUS◇ application fee† and four complimentary visits at 1,200+ lounges globally through Visa Airport Companion Program: over $190 in value.†

CIBC Aventura® Visa Infinite* card travel insurance

The CIBC Aventura® Visa Infinite* Card offers a fairly comprehensive travel insurance package, which includes coverage of the following:

  • Flight Delay and Baggage Insurance†
  • Trip Cancellation and Trip Interruption Insurance†
  • Out-of-Province Emergency Travel Medical Insurance†
  • Auto Rental Collision and Loss Damage Insurance†
  • $500,000 Common Carrier Accident Insurance†
  • Purchase Security and Extended Protection Insurance†
  • Hotel Burglary Insurance†
  • Mobile Device Insurance†

Cardholders should be aware that the Out-of-Province Travel Medical Insurance applies for 15 consecutive days per trip for those aged 64 or under, but only three days for those aged 65 or over. The coverage is valid even with no travel expenses charged to the CIBC Aventura Infinite card as long as the card is in good standing.

Interest rates

The CIBC Aventura® Visa Infinite* Card has a 20.99%† Purchase Annual Interest Rate, 22.99%† (for non-Quebec residents only) Cash Advance Annual Interest Rate, and a 22.99%† (for non-Quebec residents only) Balance Transfer Annual Interest Rate.

Who’s the card for?

The CIBC Aventura® Visa Infinite* Card is particularly valuable for those drawn to a big initial signup bonus and who don’t mind maximizing the value of the points they earn by redeeming them exclusively for travel. Its Mobile Device Insurance is also very relevant for those planning to buy an expensive new phone in the near future and who are concerned about the cost of replacing it in the event that it’s lost/stolen.

The card is less suitable for those who value flexibility in how they redeem rewards points, or for those looking for specific travel features not included in the card (like the aforementioned waiving of foreign transaction fees).

This is a digital-exclusive offer.† To be eligible for this offer:

1) this offer must have been directly communicated to you from CIBC or from a partner/affiliate; and

2) you must apply for the eligible card through the link provided in the CIBC or partner/affiliate communication to you.†

CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another eligible card within the last 12 months.†

†Terms and Conditions apply

This offer is not available for the residents of Quebec. For Quebec Residents offer - visit CIBC.com product page here

Résidents du Québec : Pour en savoir plus sur ce produit CIBC, suivez ce lien

About our author

Money.ca
Money.ca, Money.ca Editorial Team
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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.

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