What the Card Offers
CIBC markets the Dividend Visa Infinite as its top cash back card: 4% on groceries, gas and EV charging, 2% on transit, dining and recurring bills, 1% on everything else, "no limit" on total cash back, and a 10% welcome rate.
- 4%
Groceries, gas and EV charging1
4% cash back, on up to $20,000 of bonus-category spending a year.
- 2%
Transit, dining and recurring bills1
2% on commuter transportation, restaurants and pre-authorized recurring payments.
- 1%
Everything else2
1% cash back on all other purchases.
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- $5M
Travel emergency medical3
Up to $5,000,000 for the first 10 days of a trip, if you're 64 or under.
- $250
Welcome bonus4
10% back on up to $2,000 in the first 4 statements, plus $50 for a recurring payment, and a first-year fee rebate.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (4)
- CIBC Dividend Visa Infinite product page, footnote "dividend-multipliers-infinite" (retrieved 2026-10-18)
- CIBC Dividend Visa Infinite product page (retrieved 2026-10-18)
- CIBC Dividend Visa Infinite Insurance Product Summary (Belair Insurance)
- CIBC Dividend Visa Infinite product page, footnote "dividend-infinite-offer" (retrieved 2026-10-18)
Points & Redemption
Rates: CIBC Dividend Visa product pages, footnote "dividend-cash-back" (retrieved 2026-10-18). Cash back is credited to your account balance at face value.
The Fine Print Report
Moderate fine print. Strong rates with an annual cap the page doesn't lead with.
4% and 2% stop after $20,000 a yearImpact level: High
"No limit" on cash back, but the 4% and 2% rates stop after $20,000 of category spending a year
The page says there's no limit on total cash back, but the footnote limits the bonus rates to the first $50,000 of total card purchases or $20,000 of purchases in the bonus categories (groceries, gas, transit, dining and recurring payments), whichever comes first. After that, everything earns the base rate until your December statement. Returns can also deduct cash back at a higher rate than the purchase earned.
Why it matters: At most $20,000 a year earns the bonus rates, so the 4% category is worth up to $800 a year, not unlimited.
Medical: 10 days, none at 65+Impact level: High
Travel medical covers only 10 days, and nobody 65 or older
Emergency travel medical covers up to $5,000,000 for the first 10 days of a trip, only for insured people aged 64 or under. Conditions that weren't stable in the 90 days before departure aren't covered.
Why it matters: Anyone 65 or older, and anyone away more than 10 days, needs separate travel medical insurance.
2.5% FX fee, also charged on refundsImpact level: Medium
Foreign currency purchases cost 2.5% extra, and refunds are converted at a new rate
Purchases in a foreign currency are converted to Canadian dollars at the rate CIBC pays, plus a fee of 2.5% of the converted amount. The fee applies to both debits and credits, and a refund is converted at the rate on the day it's applied, which may differ from the original purchase.
Why it matters: Every $1,000 spent in a foreign currency costs about $25 in fees, and a refunded foreign purchase can still leave you out of pocket.
2 missed payments: 25.99% for a yearImpact level: Medium
Two missed payments in 12 months raise your rates to 25.99% and 27.99% for at least a year
If CIBC doesn't receive your Required Payment on time twice in any 12-month period, your rates rise to 25.99% on purchases and 27.99% on cash advances, balance transfers and convenience cheques, for at least 12 months.
Why it matters: If you ever carry a balance, two late payments make it far more expensive. Automatic minimum payments avoid this.
Default: CIBC can debit your depositsImpact level: Medium
If your account isn't in good standing, CIBC can take the balance from your CIBC deposit accounts and term deposits
When the account isn't in Good Standing, CIBC can demand the full balance and collect it by debiting any deposit account you have with it, or by redeeming fixed-term deposits, whether or not they've matured. It can also suspend or cancel the account without notice, for that or any other reason.
Why it matters: If you bank at CIBC, a missed payment can lead to withdrawals you didn't schedule and to a GIC being cashed early.
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Cash back only as card credit, $10 minimumImpact level: Low
Cash back can only be redeemed as a credit to the card, in amounts of $10 or more
Only the primary cardholder can redeem, as a credit to the card account, once the balance reaches $10. Smaller amounts can only be redeemed by phone between December 1 and March 31. Cash back earned in a month can be withheld if the account isn't in good standing during that month.
Why it matters: Redeem regularly, and before closing the card.
10% bonus replaces regular cash backImpact level: Low
The 10% welcome rate replaces your regular cash back, and needs no other Dividend card in the last 12 months
The 10% welcome rate applies instead of the card's regular rates on the purchases it covers, so the real extra is less than the headline figure. You're not eligible if you opened, transferred or cancelled another Dividend card in the last 12 months.
Why it matters: The extra cash back from the offer is the 10% minus what you would have earned anyway.
Phone cover: 2%/month depreciation, 10% offImpact level: Low
Phone insurance pays the depreciated value, 2% less for every month you've owned the device, minus 10%
Mobile device insurance covers loss, theft or accidental damage up to $1,000, but the payout is capped at the device's depreciated value: the purchase price minus 2% for each completed month since you bought it, then minus a 10% deductible. CIBC's own example: a $900 phone lost after 10 months pays at most $648.
Why it matters: A two-year-old phone is covered for about half its price, less the deductible.
Who This Card Is For
Great fit if you...
- Spend up to $20,000 a year on groceries and gas
- Want simple cash back
- Pay recurring bills by card
Consider alternatives if you...
- Spend over $20,000 a year in bonus categories
- Are 65 or older and travel
- Take trips longer than 10 days
- Make foreign-currency purchases
Welcome Bonus History
CIBC Dividend Visa Infinite Welcome Bonus History
The Verdict
The Dividend Visa Infinite pays one of the highest grocery and gas rates in Canada, 4%, and adds 2% on transit, dining and recurring bills, with straightforward redemption.
Despite the "no limit" message, the bonus rates stop after $20,000 of category spending a year, and travel medical is only 10 days with nothing at 65 or older.
The Recommendation: A top cash back pick for households spending up to about $20,000 a year in its bonus categories.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of October 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