CIBC Dividend Platinum Visa Card Review

I signed up for the CIBC Dividend Platinum Visa. Here’s my CIBC Dividend Platinum Visa Card Review.

As mentioned in previous posts, I have become a bit of a 10% cash back card addict. I recently picked up the Tangerine Money Back credit card for the 15% cash back (and planned my expected purchases with it already), and felt the need to get another 10% cash back card.

Talk about credit card churning problems!

This post may contain affiliate links. Please see’s disclaimer for more information.

Related: Tangerine Money Back Credit Card Review

CIBC Dividend Platinum Welcome Bonus

There is a digital welcome bonus with the CIBC Dividend Platinum Visa whereby you can get 10% cash back on the first four statements up to $2500.

This essentially is $250 cash back over 4 months.

Obviously if you only have a $500 credit limit, you’ll have to pay off your credit card before the next statement so that you can squeeze in $250 cash back instead of $200 cash back over four months.

The welcome bonus doesn’t apply if you switched to this card from a different CIBC visa card, like for example the CIBC Aeroplan Visa Infinite Card.


The welcome bonus is on top oft he regular cash back, so it’s actually a little more than 10% on your first $2500 spend if you spend in these categories.

This cash back card allows you to earn:

  • 3% cash back on gas and grocery purchases
  • 2% cash back on dining, transportation, and recurring payment purchases
  • and 1% cash back on everything else

As for the Insurance benefits, it includes:

  • Auto Rental Collision/ Loss Damage Insurance
  • Purchase Security and Extended Protection– The standard doubling of warranty and replacement of your purchase if you had it lost damaged or stolen within 90 days (provided you charged it to this card)
  • Common Carrier Accident Insurance– Covered up to $500,000 if you travel by plane, ferry, train, or bus if something happens to you/ your spouse/ dependents.

Journie Rewards

You can save 3 cents per litre on every fill up at Chevron gas stations if you link your CIBC cards to Journie rewards.

You can also save an extra 7 cents per litre every time you reach 300 Journie Rewards points. This is equivalent to purchasing 300 litres of gas.

In addition to the usual Journie Rewards where you get points for filling up on gas, the CIBC Dividend Platinum card also gives you $70 worth of Journie rewards. This is similar as three times the Journie points, saving $0.10 per litre on the first 250 litres, and then getting two premium car washes at participating locations.

They email you the promo code to enter in the Journie Rewards app a few weeks after your application is approved. Then you get your two free premium car washes, among other perks.

Annual Fee

The annual fee for the CIBC Dividend Platinum Visa is $99. There is a First Year Free rebate and it is deducted in the first month’s statement.

For additional cards, it is $30 each.

The interest rate is 20.99%.

CIBC Dividend Platinum Income Requirement

The minimum annual income requirement is $15,000.

This is comparable to the Money Back credit card from Tangerine where by the annual income required is not as high as other credit cards.

How to Redeem CIBC Cash Back

One of the benefits of the CIBC cash back credit cards, is that you can redeem your cash back anytime as long as you have a minimum cash back balance of $25.

Alternatively, you could wait to receive an annual credit in your January statement for any cash back that has not been redeemed by the end of the previous year.

Some other cash back cards only give you cash back once a year (for example, the Scotiabank Momentum Visa Infinite credit card).

CIBC Dividend Platinum Verdict

My CIBC Dividend Platinum Visa Card review is positive (especially if you’re taking advantage of the FYF promotion, First Year Free).

I like that the CIBC credit card promotions don’t tend to have a deadline to apply by, and that you can participate in the 10% cash back promotions.

I also like that the CIBC Dividend Platinum Visa cash redemptions are easy and straight forward, and that the minimum balance to redeem is so low $25.

In my opinion, this makes it a great 10% cash back card if you’re having some planned bigger purchases to take care of and you know you will pay the balance in full.

You may also be interested in:

What is your CIBC Dividend Platinum Visa Card review?

Get the Young Money Bootcamp PDF FREE

Free Dividend Yield Spreadsheet Tracker Download and Blog Updates

2 thoughts on “CIBC Dividend Platinum Visa Card Review”

  1. The CIBC Dividend Platinum Visa is a total ripoff. You’ll never get 3% cash back on gas. They’ll always book it on Transportation which is only 2%. They’re a fraud!


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.