What the Card Offers
CIBC markets the Corporate Classic Plus Visa as a low-cost way to give employees cards: $20 a year per card for up to 15 cards, business liability, Visa Spend Clarity controls and virtual cards, and car rental discounts.
- $20
Annual fee per card1
$20 a year for each card, including the first, for up to 15 cards.
- Business
The business is liable, not you2
Only the business is liable to repay the balance.
- Controls
Spending controls and virtual cards3
Visa Spend Clarity lets you set spending limits for each card, create virtual cards and track transactions in near real time.
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- $50,000
Employee misuse waiver4
CIBC can waive the business's liability for unauthorized charges by an employee, up to $50,000 per card in a 12-month period.
- Up to 35%
Car rental discounts5
Up to 30% off Avis and 35% off Budget base rates on Pay Now bookings at participating locations, on time and kilometre charges.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (5)
- CIBC Corporate Classic Plus Visa Card product page, footnote 1 (retrieved 2026-11-01)
- CIBC Business Credit Card Agreement (Business Liability) 12521-2026/08, s. 1
- CIBC Corporate Classic Plus Visa Card product page, footnote 3 (retrieved 2026-11-01)
- CIBC Business Credit Card Agreement (Business Liability) 12521-2026/08, s. 5 and Liability Waiver Program Description
- CIBC Corporate Classic Plus Visa Card product page, footnote 5 (retrieved 2026-11-01)
The Fine Print Report
Minimal fine print. A plain expense card with business liability; the main cost is $20 per card.
Grace period needs 2 full payments in a rowImpact level: Medium
If the head office isn't in Quebec, the interest-free period needs two statements paid in full in a row
CIBC charges no interest on a statement's purchases only if the business pays that statement in full and also paid the previous statement in full, unless the business's head office is in Quebec. Cash advances, balance transfers and convenience cheques have no interest-free period.
Why it matters: One month of carrying a balance also costs interest on the next month's purchases, from the day they're made.
2.5% FX fee, also charged on refundsImpact level: Medium
2.5% foreign currency fee, charged on refunds too
Foreign currency transactions are converted at the rate CIBC pays, plus a fee of 2.5% of the converted amount, on both debits and credits.
Why it matters: A refunded foreign purchase costs the fee twice.
$20 per card, even if not activatedImpact level: Low
Every card costs $20 a year, charged whether or not it's activated
The $20 annual fee applies to each card on the account, including the first, and is posted when the card is issued, whether or not it's activated, and every year after.
Why it matters: Cancel cards for employees who leave, or they keep costing $20 a year.
Spend controls don't block everythingImpact level: Low
Spending controls can miss some transactions, and the business still pays
Visa Spend Clarity controls only apply to transactions processed through VisaNet. They won't block offline transactions or those on other networks, and may miss ones with incomplete data. The business remains liable for the whole balance even if a transaction isn't blocked.
Why it matters: Card limits set in Spend Clarity are a guide, not a guarantee.
No rewards or insuranceImpact level: Low
No insurance and no rewards
The card's welcome kit lists car rental discounts and card services, but no rewards, purchase protection, extended warranty or travel insurance.
Why it matters: It's a spending-control card; purchases earn nothing and aren't insured.
Who This Card Is For
Great fit if you...
- Need cheap cards for many employees
- Want the business, not you, to be liable
- Want spending controls and virtual cards
Consider alternatives if you...
- Want rewards or cash back
- Need purchase or travel insurance
- Carry a balance
- Spend often in foreign currencies
The Verdict
The CIBC Corporate Classic Plus Visa is a no-rewards card for giving employees company cards: $20 a year per card for up to 15 cards, with business liability, spending controls, virtual cards and a $50,000 employee misuse waiver.
The fine print is short: there's no insurance or rewards, each card costs $20 whether or not it's used, the grace period needs two full payments in a row outside Quebec, and the spending controls don't catch every transaction.
The Recommendation: Best for businesses that want low-cost employee cards with controls and no personal liability for the owner. If the business wants to earn rewards on the same spending, the Aventura or Aeroplan Business Plus cards add points for a higher fee.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of November 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer