For people living in Canada wanting a Visa credit card from a stable issuer, probably one of the best options is the CIBC Canada credit card. The acronym CIBC stands for the Canadian Imperial Bank of Commerce, which is one of the top banks in Canada, especially when it comes to issuing credit cards. CIBC offers consumers with Visa cards, which are broken down into a variety of categories such as business, student, travelers, etc.
In 1867, the Canadian Bank of Commerce was established in Toronto, followed by the opening of the Imperial Bank of Canada six years later. Then by 1961, the Canadian banks joined forces at which time the name was changed to the Canadian Imperial Bank of Commerce or CIBC. In addition to credit cards, this bank has a solid reputation for checking and savings accounts, for both personal and business customers, loans, and more. In fact, this particular bank is ranked as the fourth largest in the country with close to 1,050 branches throughout Canada.
Regardless of the type of CIBC Canada credit card interested in, they share commonalities regarding features. For instance, these credit cards have embedded microchips for the latest and most innovative method of protection. Then, consumers can use a special 360-degree system for tracking card transactions known as the CIBC CreditSmart. With this system, anyone with a CIBC Canada credit card would be able to look at reports for spending, receive fraud alerts, go over comprehensive statements each month, and have immediate access to credit status. Another common feature for each CIBC Canada credit card is the $500,000 worth of accident insurance provided.
The different options available for a CIBC Canada credit card include the Aerogold Visa, which is an excellent choice for people who travel often. For this card, the minimum credit limit available is $5,000, standard interest is set at 19.5%, and if needed, as many as three additional cards could be secured at a fee of $50 each. Keep in mind that with this CIBC Canada credit card there is an annual fee of $120 and the minimum income for approval would be $35,000 for the entire household.
Another great option for a CIBC Canada credit card is called the Dividend Card. For anyone that appreciates accumulating points that can be redeemed for rewards, this is the card. As with the other card, the minimum credit limit is $5,000 and interest rate currently being charged is 19.5%. The minimum household income is $15,000 but for using this card, rewards of cash back up to 1% of online purchases is offered and for accumulated points, these can be exchanged for a variety gifts and merchandise.
Two other options we wanted to mention for a CIBC Canada credit card include the Platinum Visa and the Classic Visa. First, the platinum card is a good, all-around daily use card with an interest rate of 18.5% and no annual fee. Eligibility for this card is a minimum household income of $35,000. Then for the second CIBC Canada credit card, the classic Visa, students benefit most. In this case, no annual fee is charged, the minimum credit limit is set at $500, and the current interest rate being charged is 18.5%. The only real requirement for this is a minimum household of $1,200.
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