The CIBC Dividend Visa Platinum is the mid-tier card in CIBC’s Dividend cash back lineup, sitting between the no-fee CIBC Dividend Visa and the premium Dividend Visa Infinite. At $99/year with no income requirement, it’s designed for Canadians who want solid accelerated cash back on everyday spending without the high income threshold of Visa Infinite cards.
Quick Verdict
Best for: Canadians who don’t meet the $60,000 income requirement for the Visa Infinite version but want more than the no-fee CIBC Dividend Visa, particularly for groceries, gas, and dining spending.
Not ideal for: Those who qualify for and would benefit from the higher earn rates of the Dividend Visa Infinite, or those who prefer no annual fee cards.
Key Card Details
| Feature | Details |
|---|---|
| Annual Fee | $99 CAD |
| Supplementary Cards | $30/year |
| Network | Visa |
| Purchase Interest Rate | 20.99% |
| Cash Advance Rate | 22.99% |
| Income Requirement | None specified |
| Credit Score Recommended | Good |
Welcome Bonus
CIBC periodically offers first-year annual fee waivers or bonus cash back for the Dividend Visa Platinum. Check CIBC’s website for current promotions.
Earn Rates
| Spending Category | Cash Back Rate |
|---|---|
| Grocery stores | 3% |
| Gas stations | 3% |
| Dining and Tim Hortons | 2% |
| All other purchases | 1% |
Cash back accumulates and is paid out annually in February as a statement credit.
Example: A household spending $1,200/month on groceries, $300 on gas, and $500 on dining earns:
- Groceries: $1,200 × 3% = $36/month ($432/year)
- Gas: $300 × 3% = $9/month ($108/year)
- Dining: $500 × 2% = $10/month ($120/year)
- Total: ~$660/year; after $99 fee = $561 net cash back
Benefits and Perks
- Purchase security — eligible new purchases covered against theft or damage for 90 days
- Extended warranty — doubles the manufacturer’s warranty on eligible items
- CIBC Online and Mobile Banking — manage your account digitally
- Visa payWave — contactless payments
Fees and Rates
| Fee / Rate | Amount |
|---|---|
| Annual Fee | $99 CAD |
| Supplementary Cards | $30/year each |
| Purchase Interest | 20.99% |
| Cash Advance | 22.99% |
| Foreign Transaction Fee | 2.5% |
| Returned Payment | $45 |
Who Is This Card Best For?
The CIBC Dividend Visa Platinum suits:
- Grocery and gas households — 3% on both categories is competitive without an income requirement
- Dining enthusiasts — 2% on dining including Tim Hortons rewards frequent restaurant-goers
- CIBC banking clients — simplified financial management within one institution
- Mid-income earners — those above the no-fee tier but below the $60K Visa Infinite threshold
Alternatives
| Card | Annual Fee | Income Req | Grocery Rate | Best For |
|---|---|---|---|---|
| CIBC Dividend Visa | $0 | None | 1% | No-fee cash back |
| CIBC Dividend Visa Infinite | $120 | $60K | 4% | Premium cash back |
| BMO CashBack World Elite Mastercard | $120 | $80K | 5% | Highest grocery cash back |
Bottom Line
The CIBC Dividend Visa Platinum fills a genuine gap for Canadians who want 3% on groceries and gas without meeting the Visa Infinite income threshold. The $99 annual fee is easily recovered if groceries and gas are significant monthly expenses. If your income qualifies you for the Visa Infinite tier, the extra $21/year buys you meaningfully better earn rates.
Disclaimer: Card terms, cash back rates, and annual fee are subject to change. Verify all current details at cibc.com before applying.