Bank and credit card perks under the CIBC Skilled Trades Banking plan

The CIBC Skilled Trades Banking solution will give skilled trade customers access to special offers through the CIBC Dividend Platinum Visa credit card. For instance, the plan gives an apprentice customer access to a CIBC Education line of credit that provides up to $80,000 to support training and tools. There are also specialised banking products and services available to both students and certified professionals.

To get access to these perks and benefits, an apprentice needs to be enrolled in an accredited trades college or through a registered apprenticeship program. New professionals can also access these perks upon becoming a certified member of their respective trade association or union.

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Supporting skilled trade professionals in Canada

While there are approximately 4.1 million trade professionals in Canada, more than half a million (700,000) are expected to retire by the end of this decade. Based on this need, it's expected that apprenticeship enrollment will surge in the coming years. Unfortunately, making a smart career decision doesn't mean a person feels confident regarding their money management skills. According to a recent CIBC survey, nearly half (45%) of skilled trades professionals don't feel confidence in their financial situation.

Chance to win a three-year truck lease and $10,000 towards tools

As an added bonus, registered apprentices who open a new CIBC account or a product, such as a credit card by October 31, 2024, can enter the 'Build your Future' contest for a potential to win $35,000 towards a three-year truck lease and $10,000 in tools.

Chance to win tuition scholarship

To further help up-and-coming skilled trade professionals, CIBC partnered with the Skilled Trades Colleges of Canada to offer 15 scholarships worth $15,000 each. These scholarships will be awarded to recipients over the next three years.

In addition to these large-sum tuition scholarships, CIBC will also provide 15 scholarships worth $2,000 each to the Southern Alberta Institute of Technology (SAIT) and five scholarships worth $2,000 each to the Northern Alberta Institute of Technology (NAIT) for the 2024 academic year.

Open a CIBC product for a chance to win

As one of the biggest banks in Canada, CIBC has a credit card to suit the individual needs, budgets and rewards appetite of almost anyone. Whether you're on the hunt for a travel card or prefer a worthwhile cashback option, CIBC has you covered.

Low interest credit card

CIBC Select Visa: A great option for those who are carrying high-interest credit card debt and need a window of opportunity to pay it off, without worrying about it accumulating more interest in the process. The card also offers a competitive 13.99% purchase annual interest rate, 13.99% cash advance annual interest rate, as well as 13.99% balance transfer annual interest rate. With a yearly fee of $29, which is rebated for the first year, the CIBC Select Visa is a relatively low risk card to try out.

Student credit card

CIBC Aventura Visa: With no annual fee, some travel benefits and the ability to earn rewards on all purchases, the CIBC Aventura Visa is pretty decent travel credit card that is perfectly suited for students looking for a post-semester adventure. This card allows you to earn rewards for every purchase and later redeem those rewards for travel and more. Cardholders can also easily earn points through everyday spending. Once you have enough points, you can redeem them for a variety of products including travel.

Costco Mastercard

CIBC Costco Mastercard: Costco entusiasts rejoice! CIBC's only Mastercard has no annual fee, so you can add it to your wallet exclusively for Costco trips without too much worry and offers 3% cash back at restaurants and on Costco gas, 2% cash back at other gas stations and Costco.ca and 1% cash back on everything else.

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Nicholas completed his master's in journalism and communications at Western University. Since then, he's worked as a reporter at the Financial Post, Healthing.ca, Sustainable Biz Canada and more. Aside from reporting, he also has experience in web production, social media management, photography and video production. His work can also be found in the Toronto Star, Yahoo Finance Canada, Electric Autonomy Canada and Exclaim among others.

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