Frequently Asked Questions

Credit cards

  1. How do I access my credit card through electronic services?
  2. How do I add an additional cardholder to my credit card?
  3. What are CIBC credit card's eligibility requirements and how do I apply?
  4. How do I find out about the purchases appearing on my credit card statement?
  5. Can I transfer to a different credit card?
  6. How does my credit card issuer figure out my exchange rate for purchases in the US?
  7. How do I cancel my credit card?
  8. How do I replace my CIBC credit card?
  9. How is interest calculated on cash advances or convenience cheques?
  10. Under what circumstances might my card be declined?
  11. How do I track my credit status and/or activities?
  12. How long does it take for my credit card applications to be processed?
  13. How can I find out the status of my credit card application?

More Credit Card FAQs

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  1. How do I access my credit card through electronic services?

    If you are the primary CIBC credit cardholder, you will have direct access to your credit card account through Online Banking, Telephone Banking and any CIBC Instant Teller machine. You can access only those accounts for which you are the primary cardholder.

    Primary credit cardholders who do not hold a CIBC bank account will have inquiry-only access through CIBC Credit Card Online. Primary cardholders who also hold a CIBC bank account will be able to initiate cash advances, transfers, and payments.

    The funds in your credit card account are accessible in-branch, by bank machine, Telephone Banking and Online Banking. Cash advances (including an advance from a credit card account to a bank account) accumulate interest from the date they are taken.

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  2. How do I add an additional cardholder to my credit card?

    As the primary credit cardholder, you can have an additional credit card issued, up to a maximum of 3 (maximum of 2 for the U.S. Dollar VISA Card and the Dividend Platinum® card; maximum of 9 for Aerogold®1 VISA Card for Business and bizline® VISA* Card) for your spouse, other family members, or other designated persons. If you would like to add an authorized user to your credit card account, you must contact CIBC Credit Card Services. They, in turn, will issue you an authorized user form, which you will need to complete. Two signatures are required in this form: your own and that of the person you are designating as an authorized credit cardholder.

    You can call or fax your request letter to CIBC Credit Card Services. Refer to "Who do I contact for assistance with my CIBC credit card account?" for contact numbers and hours of operation.

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  3. What are CIBC credit card eligibility requirements and how do I apply?

    To be eligible for a CIBC credit card, you must be a Canadian resident and you must have reached the age of majority:

    18 years - PEI, QC, ON, MB, SK, AB
    19 years - NFLD, NB, NS, BC, YK, NT, NU

    You must meet CIBC standard credit requirements (including that you have made no bankruptcy claim within the last 7 years).

    Basic employment details are as follows:

    • Minimum annual household income of $15,000 for the Aero Classic, Classic, Dividend Card® and the Select VISA Cards
    • Minimum annual household income of $15,000 for the U.S. Dollar VISA Card
    • Minimum annual household income of $35,000 or greater for the Aventura® Gold, Dividend Platinum, Gold, Platinum, Aerogold, bizline VISA Cards and the Aerogold VISA Card for Business
    • Minimum annual personal income of $60,000 or annual household income of $100,000 for CIBC Aventura VISA INFINITE Card and CIBC Aerogold VISA INFINITE Card
    • Minimum annual income of $1,200 for the Student VISA Card (only the Classic Card is eligible)

    Please note: Grants and bursaries do qualify as income; however student loans do not.

    Please note that, if self-employed, you will be required to provide proof of income from the past 18 months.

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  4. How do I find out about the purchases appearing on my credit card statement?

    If you have any questions about a particular purchase or wish to dispute an item on your statement, you need to call CIBC Credit Card Services within 30 days after the date of the statement on which the transaction first appeared. Refer to "Who do I contact for assistance with my CIBC credit card account?" for contact numbers and hours of operation.

    If you believe that your card may have been used fraudulently, contact CIBC Credit Card Services at 1-800-663-4575 (Canada & U.S.) or 514-861-9898 (from elsewhere). Assistance is available 24 hours a day, 7 days a week.

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  5. Can I transfer to a different credit card?

    If you have a CIBC credit card and are interested in switching to another CIBC credit card, please call CIBC Credit Card Services. Refer to "Who do I contact for assistance with my CIBC credit card account?" for contact numbers and hours of operation.

    You can also call CIBC Telephone Banking at 1-800-465-2422 to request a credit card transfer. Our Sales and Service Specialists are available to assist you 24 hours a day, 7 days a week.

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  6. How does my credit card issuer figure out my exchange rate for purchases in the U.S.?

    VISA International converts all foreign transactions to Canadian funds at a preferred exchange rate. All transactions, including credits are also subject to an additional administration fee, presently at 2.5%. This fee is to offset the costs incurred by VISA International and CIBC in offering a worldwide VISA service. It is important to note that a foreign currency transaction is a more expensive transaction than a domestic transaction. Below is an example of the conversion calculation:

    Original amount of purchase is $50 US
    Assume the rate of exchange is @ 1.54
    Canadian amount $77.00 +2.5% administration fee = $1.93
    The total amount recorded on your statement would be $78.93 Cdn.

    The exchange rate used will vary and may not be that which was in effect at the time of the purchase.

    If you require any additional information, please contact CIBC Credit Card Services. Refer to "Who do I contact for assistance with my CIBC credit card account?" for contact numbers and hours of operation.

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  7. How do I cancel my credit card?

    For security reasons, card cancellation requests must be made directly by phone, fax or mail to CIBC Credit Card Services.

    Refer to "Who do I contact for assistance with my CIBC credit card account?" for contact numbers and hours of operation.

    Please ensure that you:

    • Cut the card up into several pieces before discarding
    • Contact the appropriate companies to cancel pre-authorized payments on account
    • Destroy all Convenience Cheques

    All features and benefits of the card such as bank machine access and rewards will cease. A monthly statement will continue to be sent until the balance is at zero.

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  8. How do I replace my CIBC credit card?

    You can request a replacement of a damaged card by phone, fax or mail to CIBC Credit Card Services. Refer to "Who do I contact for assistance with my CIBC credit card account?" for contact numbers and hours of operation.

    Please include your name, credit card account number, mailing address, telephone number and signature for fax or mail requests.

    If your card is lost or stolen, please notify CIBC Credit Card Services - Loss Prevention immediately by phone at 1-800-663-4575 (Canada & U.S.) or (514)-861-9898 (from elsewhere). Assistance is available 24 hours a day, 7 days a week.

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  9. How is interest calculated on cash advances or Convenience Cheques?

    For cash advances, interest is charged from the day you receive the cash advance until the day a payment is made to cover the amount of the cash advance plus the interest that has accrued on it.

    For Convenience Cheques, the interest is charged from the date the cheque is posted to your credit card account until the day a payment is made to cover the amount of the cheque plus the interest which was accrued on the cheque.

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  10. Under what circumstances might my card be declined?

    When using a CIBC credit card through the PLUS* or INTERAC™ network system or the VISA International system, a transaction on a chequing, savings or other account may be declined. Access to the credit card account through a debit card (if you have linked your credit card account to your debit card) may also be declined. This is at the discretion of each independent financial institution and cannot be controlled by CIBC. Also, if your CIBC credit card account is blocked due to overdue payments or other failure to comply with the CIBC VISA Cardholder Agreement, you will be unable to use the credit card to access any deposit accounts, which you have registered on the card.

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  11. How do I track my credit status and/or activities?

    As a primary CIBC credit cardholder you can inquire on your credit card account to obtain your credit card balance, available credit and last credit card payment through Telephone Banking (1-800-465-2422) or through Online Banking. The Online Banking service will also enable you to view your payment due date, minimum payment amount, transaction details, and more. Plus, you will get complete access to our suite of online CIBC CreditSmart® features – Credit management tools and services to help you get the very most out of your credit card.

    Enjoy these benefits of Online Banking:

    • Easy Organization – get a more detailed view of your credit card spending and create customized monthly budgets with the spend report1
    • Smart Management – choose to be notified with spend alerts when you're close to your credit limit or when you've exceeded your personal budget and, with the personal spend manager, create your own personal spend categories to track and manage what's important to you
    • Increased Security – stay aware of unusual activity on your credit report with credit report alerts2 and, with fraud alerts, you can be notified as soon as possible about potential unauthorized use of your credit card

    Outstanding authorizations accruing daily interest or points (e.g., Aeroplan®1 Miles, Aventura® Points) are not available.

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  12. How long does it take for my credit card application(s) to be processed?

    From the time you apply for a CIBC credit card online, it takes approximately 2-3 weeks to receive and process information about your application. You will be notified by mail on the status of your application.

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  13. How can I find out the status of my credit card application?

    If you would like to inquire about the status of your application during the next 2-3 weeks, you can call CIBC Credit Card Services toll free at 1-888-726-7320.

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1 Transactions must be first posted to your account before they can trigger a spend alert. It may then take up to 24 hours after a triggered transaction is posted for an altert to be sent.

2 This service is provided by Equifax Canada, a leading credit bureau in Canada

® Registered trademark of CIBC.

Visa Int./ lic. user.

® Aerogold is Registered Trademark of Aimia Canada Inc. CIBC Authorized Licensee of Mark.

TM Trademark of Interac Assoctiona; CIBC authorized Licencee