What the Card Offers
CIBC markets the Dividend Visa for Students as a no-fee everyday cash back card: 2% on groceries, 1% on gas, transportation, dining and recurring bills, and 0.5% on everything else, with up to $125 cash back to start.
- $0
No annual fee1
No annual fee for you or up to 3 additional cardholders.
- 2%
Groceries2
2% cash back at grocery stores, on up to $20,000 of bonus-category spending a year.
- 1%
Gas, transit, dining and recurring bills2
1% on gas, EV charging, transportation, restaurants and recurring payments.
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- 0.5%
Everything else1
0.5% on all other purchases.
- $125
Welcome bonus3
$25 after your first purchase plus 10% back on up to $1,000 in the first 4 statements.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (3)
- CIBC Dividend Visa for Students product page (retrieved 2026-10-18)
- CIBC Dividend Visa for Students product page, footnote "dividend-multipliers" (retrieved 2026-10-18)
- CIBC Dividend Visa for Students product page, footnote "dividend-student-welcome-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
Light fine print. Low base rate and no travel coverage, as expected for no fee.
Base rate 0.5%; bonus capped at $20,000Impact level: Medium
Most purchases earn 0.5%, and the bonus rates stop after $20,000 a year
Outside groceries (2%) and gas, transit, dining and recurring bills (1%), the card earns 0.5%. The bonus rates apply only to the first $20,000 of bonus-category purchases or $30,000 of total purchases a year, after which everything earns 0.5%.
Why it matters: Some no-fee cards pay 1% on everything, which beats this card for spending outside groceries.
No travel insurance at allImpact level: Medium
No travel insurance; purchase protection only
The only insurance is purchase security and extended warranty. There's no travel medical, trip, baggage, rental car or common carrier coverage.
Why it matters: Buy separate travel insurance for any trip.
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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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.
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.
Who This Card Is For
Great fit if you...
- Want a no-fee cash back card
- Spend mostly on groceries
- Are a student building credit
Consider alternatives if you...
- Spend mostly outside groceries
- Want any travel insurance
- Make foreign-currency purchases
Welcome Bonus History
CIBC Dividend Visa (Student) Welcome Bonus History
The Verdict
The Dividend Visa for Students is a simple no-fee card with a good grocery rate.
Most other spending earns 0.5%, bonus rates stop after $20,000 a year, and there's no travel insurance.
The Recommendation: Fine if groceries are your main spending; a flat 1% no-fee card may pay more otherwise.
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