CIBC Classic Visa* Card review
Apr 7, 2025
While we adhere to strict editorial guidelines, partners on this page may provide us earnings.
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
At a glance
The CIBC Classic Visa* Card is a no-annual-fee credit card offering basic features such as purchase protection and extended warranty coverage. It is suitable for individuals seeking a straightforward credit card without rewards programs, and it provides the convenience of Visa's wide acceptance network.
Highlights
$0
First year value
$0
Annual fee
$0 for up to 3 additional cards
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
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 for?
The CIBC Classic Visa* Card is the financial equivalent of a reliable sedan—nothing flashy, but it gets the job done without costing you in annual fees. If you're looking for a straightforward credit card that offers essential protection benefits without the complications of rewards programs, this card deserves your attention.
Others that might find value with the card include:
- Those looking for a basic credit card with which to build credit
- Those that want purchase protection and extended warranty coverage
- Anyone who needs a simple card with no annual fee
Pros and cons
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
Can you earn rewards with the CIBC Classic Visa* Card?
No. The CIBC Classic Visa* Card does not earn rewards. Unless you count no annual fee as a bonus, that is.
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.
Other benefits of the card
- 1 Fee-free money transfers: If you regularly send money to family abroad, this feature alone could justify getting the card. Skip the transaction fees when using CIBC's Global Money Transfer™ service—potentially saving hundreds of dollars annually compared to traditional remittance services
- 2 Fuel savings: Link your card with Journie Rewards and save up to 10 cents per litre on gas purchases at participating Pioneer, Fas Gas, Ultramar and Chevron stations. For the average Canadian driving 20,000 km annually, this could mean saving $100+ on fuel costs each year
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.
CIBC Classic Visa* Card Card vs. Tangerine Money-Back Credit Card
10% cash back
Welcome Bonus
$484
First Year Value
$384
Annual Value
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).
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.
CIBC Classic Visa* Card card vs. American Express® Green Card
10,000 points*
Welcome Bonus
$340
First Year Value
$240
Annual Value
Welcome Bonus: Earn 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...
- want rewards without paying an annual fee
- want to earn points on everyday spending
- want a flexible rewards program with exclusive perks
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.
Eligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
- No annual fee
- No income requirements (unlike many other no-fee cards)
- Welcome bonus up to 10,000 points (a $100 value)
- American Express® Experiences
Cons
- The card only offers basic extended warranty and purchase protection insurance. No travel insurance or rental car coverage
- Some places might not accept American Express®. However, most major retailers do (more small businesses are starting to as well)
- Fewer perks: No specific benefits for travel or dining and no accelerated earning rates on grocery
- Lower earn rates: The reward earn rates are lower than some other no-fee credit cards
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
25.99% - 29.99%
Penalty
Fees
$0
Annual Fee
2.50%
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.
Eligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
- No annual fee
- No income requirements (unlike many other no-fee cards)
- Welcome bonus up to 10,000 points (a $100 value)
- American Express® Experiences
Cons
- The card only offers basic extended warranty and purchase protection insurance. No travel insurance or rental car coverage
- Some places might not accept American Express®. However, most major retailers do (more small businesses are starting to as well)
- Fewer perks: No specific benefits for travel or dining and no accelerated earning rates on grocery
- Lower earn rates: The reward earn rates are lower than some other no-fee credit cards
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
25.99% - 29.99%
Penalty
Fees
$0
Annual Fee
2.50%
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.
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.
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 Classic Visa* Card card vs. CIBC Dividend® Visa* Card
up to 10¢ off/Litre
Welcome Bonus
$249
First Year Value
$0
Annual Value
Welcome Bonus: Get up to 10 cents off per litre at participating gas stations with Journie Rewards.
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
Annual Fee & Annual Interest Rates
$0
Annual Fee
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
Our Take
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.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Household Income
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
Annual Interest Rates
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
Fees
$0
Annual Fee
2.50%†
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
2%
Get 2% cash back on eligible grocery purchases†
1%
cash back on eligible gas, EV charging, transportation, dining purchases and recurring payments†
0.5%
0.5% cash back on all other purchases†
$0.10
Save up to 10 cents off per litre on gas with CIBC and Journie Rewards at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
Insurance Benefits
$100,000
Travel accident insurance amount
Get up to 10 cents off per litre at participating gas stations with Journie Rewards.
Our Take
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.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Household Income
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
Annual Interest Rates
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
Fees
$0
Annual Fee
2.50%†
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
2%
Get 2% cash back on eligible grocery purchases†
1%
cash back on eligible gas, EV charging, transportation, dining purchases and recurring payments†
0.5%
0.5% cash back on all other purchases†
$0.10
Save up to 10 cents off per litre on gas with CIBC and Journie Rewards at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
Insurance Benefits
$100,000
Travel accident insurance amount
Get up to 10 cents off per litre at participating gas stations with Journie Rewards.
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 |
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.
Disclosures:
- †Terms and Conditions Apply. This offer is not available for residents of Quebec.
-
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.†
This offer is reserved for you. Please do not forward it to anyone else.
CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Dividend card within the last 12 months.†
Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by our advertising partners.
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.
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.
Disclosures:
- †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.
FAQs
Lubna Umar
Finance Editor
Lubna Umar is an experienced writer and editor specializing in personal finance, with over six years of expertise. Her portfolio includes comprehensive guides on personal finance, mortgages, car insurance, and credit card reviews. She has worked with several prominent finance brands, including RATESDOTCA, LowestRates, InsuranceHotline, and the Financial Post.
Explore the latest articles
5 signs you aren’t yet ready for retirement
Even with a solid nest egg, there are other factors that can make a retirement slide
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 enter into any loan, mortgage or insurance agreements 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.