Credit Card Canada - Canadian Credit Card Reviews and Applications

Credit Card Articles

CIBC Dividend Platinum VISA Card credit card reviews

CIBC Dividend Platinum VISA Card credit card details and credit card application link.

The CIBC Dividend Platinum Visa Card offers exclusive features and extras not featured by most gold cards. You earn dividends in cash every time you charge a purchase to the card. Cash dividends of up to 2 percent can be earned, which is equivalent to $735 per year. The travel amenities and benefits that come with this financial product are endless. Card holders are guaranteed hotel reservations, commission-free travelers’ checks by American Express, and as much as 15 days of medical travel insurance pertaining to trips out of the respective Canadian province for cardholders under 64 years of age. You are eligible to receive carrier accident insurance in the amount of one million Canadian dollars and up to 20 percent off at participating AVIS branches.

What about the requirements toward prospective Platinum Visa applicants? To be eligible, you need over $35,000 in annual household income and high self-esteem. This card is a great choice for those who travel for pleasure at least once a year, who want to earn cash dividends on items and/ or services charged to their card, and who have an affinity for premium privileges and rewards.

The credit limit of the CIBC Dividend Platinum Visa Card starts at $5,000. The annual fee is $79, and the annual interest rate is 19.9 percent. The interest rate is liable to change, but all customers will be notified at least one month in advance. As for additional cards, you are eligible to receive as many as three for the price of $30 per each a year. The credit limit can reach as high as $50,000 depending on the client’s credit history. As far as cash dividends are concerned, rebates are earned on purchases only. Cash advances, fees, balance transfers, and interest are not subject to rebate. Also, no rebate can be earned on net purchases made in one calendar year and worth more than $50,000.

The rebate on the first $3,000 in net purchases per annum is 0.5 percent, 1 percent on the next $12,000, 1.5 percent on $20,000 and 2 percent on the next $15,000.

Among the standard CIBC amenities are secure chip technology, purchase security, extended protection insurance, VISA auto rental insurance, and cash advances of as much as $1,000 a day. Be wary of the cash advances, however. Interest is levied from the date you take them. They are subject to daily limits and available credit and, once again, do not earn you cash dividends. The chip technology is a tremendous advantage, with chip cards offering the best protection against credit card fraud.

If you are decided on applying for a Visa Platinum, you can look at the offer of RBC Royal Bank. The Visa Platinum Avion goes with an annual fee of $120, interest rate of 19.99 percent, and a fee of $50 for an additional card. The minimum credit limit is set at $1000. Customers earn 1 reward point for every dollar spent with the credit card and can redeem them for investment rewards, gift certificates, and a selection of merchandize items. Card holders can choose from various travel rewards such as rail travel, car rentals, hotels, packaged holidays, cruises and tours. In addition, there is an option to transfer the bonus points to BA Miles, Asia Miles, and American Airlines AADVANTAGE miles.

Credit Card Details
NameCIBC Dividend Platinum VISA Card Apply Now
Interest Rate19.9%
Annual Fee$79
Cash BackYes
Low InterestNo
Auto and GasNo
Instant ApprovalNo
Balance TransferYes
US DollarNo
No Annual FeeNo