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The CIBC Dividend Platinum® Visa* Card offers cash back rewards ranging from 1%-3% (depending on where you shop), as well as a moderate spread of extra insurance and travel benefits. It’s a particularly appealing cash back card for those that spend a lot on gas, EV charging and groceries, and offers surprisingly rich value for a card with such a low minimum income requirement.

Pros and cons



  • Very impressive welcome offer

  • Elevated cash back rates (2-3%) in five everyday spending categories†

  • No limit in total cash back you can collect

  • The $15,000 minimum annual income requirement† is very low for a cash back card of this calibre



  • $99 annual fee may not be worthwhile for all consumers

  • The $20K annual spending limit for earning cash back at the accelerated 2-3% rates is lower than the limits offered by some competing cash back credit cards

Welcome offer

New cardholders receive a first year annual fee rebate for the primary cardholder ($99) and up to three additional authorized cardholders ($30 each = up to $90).

Get a first-year annual fee rebate and earn 10% cash back welcome bonus of up to $200!

Cash back features

The CIBC Dividend Platinum® Visa* Card earns cash back on every purchase as follows:

  • After the Welcome Offer ends get 3% cash back on eligible gas, EV charging and grocery purchases
  • 2% cash back on eligible transportation, dining purchases and recurring payments
  • 1% cash back on all other eligible purchases
  • Get cash back on demand – redeem your cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®†

It’s important to note that after you’ve spent $20,000 in the 3% and 2% spending categories (or $80,000 total on the card across all categories), your rate will drop to 1% on all subsequent purchases for the rest of that calendar year. It will reset to the higher earn rate at the start of the new year. That said, there is no limit on the total amount of cash back you can earn with the card overall.

Additional perks

On top of the cash back features listed above, the CIBC Dividend Platinum® Visa* Card comes with a few additional insurance benefits that further justify the card’s annual fee:

  • Auto Rental Collision and Loss Damage Insurance
  • $500,000 Common Carrier Accident Insurance
  • Purchase Security and Extended Protection Insurance

You can also pay to opt in to CIBC Emergency Travel Medical Insurance and/or CIBC Payment Protector Insurance for credit cards.

Eligibility requirements

To apply for the CIBC Dividend Platinum® Visa* Card, you need to meet certain eligibility requirements. You must:

  • Be a Canadian resident
  • Be the age of majority in the province in which you live
  • Have a credit score of ≥ 720.
  • Have a minimum annual income of $15,000

How to apply

Applying for the CIBC Dividend Platinum® Visa* Card takes about five minutes and you’ll get a response in as little as 60 seconds. You can apply for the card through the the CIBC website.

  1. 1.

    To start, click the red “apply now” button. You will be asked to confirm that you do, in fact, meet the necessary requirements to be eligible to apply.

  2. 2.

    You will then be taken to a page outlining all the terms, conditions, rates, etc., entailed in this credit card. Read this over and click “agree.”

  3. 3.

    On the following pages, you will be asked to fill out your personal information, including your Canadian address, phone number, birth date, etc. You will be asked for your Social Insurance Number, so make sure you have that on hand.

Already a CIBC customer? If you use CIBC Online Banking®, there’s an option for you to log in and it will automatically prepopulate much of this information for you to simplify and speed up the process.

Once you have finished the application and have been approved, you can expect to receive the credit card within two to three weeks by mail.

Redeeming cash back

The primary cardholder can redeem cash back against the card statement at any time, as long as you’ve accumulated at least $25 worth of cash back. Get cash back on demand – redeem your cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®.† Cash back that has not been redeemed by the end of the year will be applied to the next year’s January card statement.

If you have multiple cards on the same account, note that all their combined cash back earned will be credited to the primary cardholder’s account.

How does the CIBC Dividend Platinum® Visa* Card compare to other credit cards?

The CIBC Dividend Platinum® Visa* Card is a strong cash back card, but it does have its advantages and disadvantages compared to the competition. Let’s take a closer look.

Welcome offer
Get a first-year annual fee rebate and earn 10% cash back welcome bonus of up to $200!
If you're approved, you’ll earn an extra 10% back on up to $1,000 in everyday purchases made within your first 2 months.*
In your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months. Conditions apply.
Regular cash back rate
2% cash back on all other purchases with accelerated earn rates on eligible gas and grocery purchases.
Annual fee
$99 (first year annual fee rebated)
$9.99/month (equals a total fee of $119.88 annually)
Additional perks
Some insurance
Extended Warranty
Insurance and access events and special offers curated for Cardmembers with American Express® Experiences
20.99% Purchase Annual Interest Rate, 22.99% (for non-Quebec residents only); Cash Advance Annual Interest Rate, 22.99% (for non-Quebec residents only) Balance Transfer Annual Interest Rate
19.95% interest rate on Purchases, 19.95% on Cash Advances, and 19.95% on Balance Transfers
20.99% interest rate on Purchases and 21.99% on Cash Advances

Terms and conditions apply, *Terms and Conditions apply

At a glance, the Tangerine Money Back credit card looks like a pretty good deal since there’s no annual fee. However, the 0.5% cash back minimum is comparatively low when the other two cards’ minimums are 1% and 2%. And the Tangerine card earns at its enhanced 2% cash back rate in ‘only’ two or three spending categories; the CIBC card earns at 2-3% cash back in five different categories.

The SimplyCash® Preferred Card from American Express has a very strong welcome bonus and similar earn rates as the CIBC Dividend Platinum® Visa* Card does. And as an Amex card it will be less widely accepted by merchants than a Visa will be.

Final word

The CIBC Dividend Platinum® Visa* Card is a pretty solid choice for a cash-back card. After the welcome offer ends the 3% cash back rate for eligible gas, EV charging, and groceries is its big draw, as gas and groceries are two major budgetary expenditures for most Canadians. The $20,000 spend limit for the higher cash back rate is less than ideal; however, we do love that there is no overcall cash back limit and that the card is accessible at almost every income level.

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 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 product page here

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

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. Terms and Conditions apply.

About our author

Hannah Logan
Hannah Logan, Freelance Contributor

Hannah Logan is a freelance writer, blogger, and content creator from Ottawa. She spends half the year in Canada and half the year travelling around the world. A self-described wannabe Indiana Jones, Hannah first developed an interest in personal finance in an effort to prolong her travel lifestyle. Today, she shares her stories from her travels as well as finance tips, tricks, and knowledge to help others fulfil their savings and travel goals as well. You can keep up with Hannah’s adventures on her personal travel blog, or find her on Instagram @hannahlogan21.


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