Finance, Personal

4 Best CIBC Student Credit Cards For 2022

CIBC student credit cards are available to students attending a Canadian university or college. 

These cards provide low-interest rates, cash back and other benefits designed to meet the needs of students. 

Unfortunately, the task of choosing the best CIBC student credit card can be overwhelming considering the various options available.

However, you can avoid that daunting decision by knowing what you want in a student credit card.

Fortunately, this article will help narrow down your options by discussing each of the CIBC student credit cards in detail.

Hopefully, after reading it, you will be able to choose the best CIBC student credit card that suits your needs.

CIBC student credit cards
Photo Credit: Finance Blue

About CIBC

CIBC is one of the leading banks in Canada with a strong focus on personal and small business banking.

It was founded through the merger of the Imperial Bank of Canada and the Canadian Bank of Commerce.

The bank has a long history dating back to 1961. Today, CIBC is a strong and stable institution that is well-positioned for continued success.

CIBC offers a full range of banking products and services including credit cards, mortgages, loans, investing, and more. 

In addition to its core banking operations, CIBC also has a strong presence in capital markets, wealth management, and insurance. The company has over 10,000 customers across its various branches. 

Also, the bank has a strong commitment to providing outstanding customer service. It has a team of dedicated professionals who are always ready to provide expert advice and support to its clients. 

Additionally, the bank has a strong capital base and is well-positioned to continue its growth in the years ahead.

CIBC Student Credit Card

CIBC has four different student credit cards you can choose from. The CIBC student credit cards are as follows:

  • CIBC Aventura Visa Card
  • CIBC Aeroplan Visa Card
  • CIBC Dividend Visa Card
  • CIBC Classic Visa Card

Let’s look at how each CIBC student credit card works and the benefits you can get from each of them.

CIBC Aventura Visa Card for Students

  • Annual fee: $0 for up to 3 additional cards
  • Interest rate on Purchase: 20.99%
  • Interest rate on Cash Advances: 22.99%
  • and 21.99% for residents of Quebec 
CIBC Aventura Visa Card for Students

CIBC Aventura Visa card is a great credit card for students who are looking for a credit card with flexible rewards points.

With this amazing student credit card, you can get a welcome offer of up to 2,500 Aventura Points. And the best part is that you earn all these points without paying any annual fee.

Apart from the 2,500 Aventura Points welcome offer, here are the additional points you can earn with the CIBC Aventura Visa card:

  • For every $1 you spend at qualified gas stations, drug stores and grocery stores, you will get 1 point.
  • For every $1 you spend through the CIBC Rewards Centre on travel, you will earn 1 point
  • If you spend up to $2 on all other purchases using your CIBC Aventura Visa card, you will get 1 point

In addition to the points, you can save up to 10 cents gas when you use your card to buy gas at participating gas stations.

You can redeem your points for things like merchandise, hotel stays, vacation packages and more.

CIBC Aeroplan Visa Card for Students

  • Annual fee: $0 for up to 3 additional cards
  • Interest Rate on Purchases: 20.99%
  • Interest Rate on Cash Advances: 22.99% and 21.99% for residents of Quebec 
CIBC Aeroplan Visa Card for Students

The CIBC Aeroplan Visa Credit Card for Students is a no-fee travel card that is worth checking out.

When you get the card, you will earn up to 10,000 Aeroplan points. If you redeem these points, it will amount to $200.

To get the redeemable 10,000 Aeroplan points, all you have to do is use your card to make your first eligible purchase.

Besides the 10,000 Aeroplan points, you can get with your CIBC Aeroplan Visa Credit Card, there are other benefits you can get with the card. These benefits include:

  • You will get 1 point for every $1 you spend on groceries and gas through Air Canada Vacations.
  • For every $1.50 you spend on other purchases using your CIBC Aeroplan Visa Credit Card, you will get 1 point
  • You can also save 10 cents off gas per litre if you use your card to buy gas a participating gas stations

The good news is that the Aeroplan points you earn with your card don’t expire. This means you can redeem your points anytime you wish so long as you continue using your card.

CIBC Dividend Visa Card for Students

  • Annual fee: $0 for up to 3 additional cards
  • Interest Rate on Purchases: 20.99%
  • Interest Rate on Cash Advances: 22.99% and 21.99% residents of Quebec
CIBC Dividend Visa Card for Students

The CIBC Dividend Visa Card for students is a card that gives you cash back on transportation, grocery purchases and other necessities of daily living.

When you get the card and make your first eligible purchase, you will get a cash back of $60 in your first 4 months.

You can also save 10 cents off per litre when you use your card to buy gas at participating gas stations.

Here are the additional perks you can get with the CIBC Dividend Visa Card for students:

  • You will get a cash back of 2% on groceries
  • Also, you will get a 1% cash back on transportation, dining, gas and all recurring bill payments you make with the card
  • For every other purchase you make with your CIBC Dividend Visa Card, you will get a 0.5% cash back
  • In addition, for every $1 you spend on CIBC Global Money Transfer, you will get a cash back of 0.125%
  • You can also save up to 30% when shopping at more than 450 top brands

The best part is that there is no limit to how much cash back you can earn with your card. This means you can earn unlimited cash back.

CIBC Classic Visa Card For Students

  • Annual fee: $0
  • Interest Rate on Purchases: 20.99%
  • Interest Rate on Cash Advances: 22.99% and 21.99% for residents of Quebec
CIBC Classic Visa Card For Students

The CIBC Classic Visa Card for students is another great credit card for students you may want to consider.

With the card, you save up to 30% on your purchases at more than 450 eligible top brands.

You can also save up to 10 cents per litre when you use the card to buy gas at eligible gas stations.

When sending a CIBC Global Money Transfer, there are no transaction costs. In addition, if you pay your balance in full by the due date, you won’t be charged any interest.

Furthermore, if your new item is stolen or broken, CIBC Purchase Security Insurance can provide you with up to 90 days of coverage.

How to Apply for a CIBC Student Credit Card

The process of applying for a CIBC student credit card is very straightforward. 

However, before you can apply for a CIBC student credit card, you must be a university or college student in Canada.

If you have met the eligibility requirement, you can apply for a CIBC student credit card by filling out a simple application form online through the CIBC online banking portal.

Alternatively, you can complete your application for a CIBC student credit card by calling 1-800-465-4653.

Alternatives to CIBC Student Credit Card

CIBC offers some of the best student credit cards in Canada and using any of the cards might help you get through school while earning rewards or points that can be used for future expenses. 

However, it is not the only option out there. several other alternatives that you might want to consider are available. Here are some of the alternatives to a CIBC student credit card:

Tangerine Money-Back Credit Card

  • Annual Fee: $0
  • Interest Rate on Purchases: 19.95%
  • Interest Rate on Cash Advances: 19.95%
Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card is a no-fee card that allows you to earn unlimited cash back.

If you get a Tangerine Money-Back Credit Card and make purchases of up to $1,000, you will get a cash back of 15% within the first 2 months of getting the card.

There are several other perks that come with the Tangerine Money-Back Credit Card and below are some of them:

  • If you make purchases in any two Money-Back Categories, you will get a 2% cash back
  • You can also earn 0.50% on all other purchases you make with your card
  • Insured products are covered by Purchase Assurance for theft or damage for up to 90 days after the date of purchase.

BMO CashBack Mastercard for Students

  • Annual Fee: $0
  • Interest Rate on Purchases: 20.99%
  • Interest Rate on Cash Advances: 22.99% and 21.99% for  residents of Quebec
BMO CashBack Mastercard for Students

The BMO CashBack Mastercard for Students is another great alternative to a CIBC student credit card.

The card offers cash back for several purchases. If you get the card, you will earn a welcome offer of 5% cash back within your first 3 months.

Here are the additional perks that come with the BMO CashBack Mastercard for Students:

  • You will get a cash of 3% on all grocery purchases
  • If you use your card to pay recurring bills, you will earn a 1% cash back
  • You will also get a cash back of 0.5% on other purchases you make with your card

There is no fixed amount of cash back that you can redeem. This means you can redeem your cash back anytime you wish.

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Final Thoughts 

If you are a student in Canada looking for a credit card, CIBC has got great options for you. 

CIBC has four student credit cards that offer several great perks for students all over Canada. 

These four student credit cards offered by CIBC has no annual fees, very low rates and they have no minimum income requirement. 

All you have to do is choose anyone that suits your needs and start reaping the benefits today. 

Alternatively, you can also take a look at the CIBC student credit card alternatives provided above and choose one that best suits your needs.

If you find this article useful, please share it with your fellow students who may also be interested. 

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About John Adebisi

John Adebisi is a CPA, FCCA and MBA holder with a Bachelor's degree in Accounting & Finance. He has over a decade of experience in writing personal and business finance content for audiences across North America, Europe, the UK and Africa. In addition to his writing experience, he also has a strong background in financial research and analysis, giving him a unique perspective of the financial markets. John derives pleasure in helping people make smart financial decisions, and he believes that knowledge and experience can be valuable resources for anyone who wants to learn how to manage their money.

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