Take charge of your credit card balance

If you're a CIBC client, sign on to CIBC Online Banking® or CIBC Mobile Banking®. You may have an exclusive balance transfer offer available to you. To check, select "Offers" from the navigation menu. This tab only appears if you have eligible offers on your profile.

If you don't see an exclusive balance transfer offer on your account, you can still request a balance transfer at any time. The standard interest rate of the CIBC credit card you're transferring to will apply to the amount transferred, and additional terms may apply.

Under "Customer Services," go to the Credit Cards section and select "Request a credit card balance transfer."

You can also request a credit card balance transfer by calling CIBC Credit Card Services at 1-800-465-4653.

Learn more about how to request a balance transfer with CIBC.

If you're not a CIBC client, you can apply for a new CIBC credit card that offers a balance transfer, such as the CIBC Select Visa*.

Once approved, you’ll need to provide the amount you want to transfer and the account details for your current credit card.

To qualify for a balance transfer, your CIBC account must be in good standing and you must have sufficient credit available. Promotional offers may include other conditions, such as a minimum transfer amount.

If you don't have a promotional offer:

You won't be charged a transfer fee for a regular balance transfer. Your balance transfer will be charged interest at your CIBC credit card’s annual interest rate for Cash Advances, Balance Transfers and Convenience Cheques.

If you have a promotional offer:

You'll be charged a one-time balance transfer fee of up to 5% of the amount of the balance transferred to your CIBC credit card. This balance transfer fee will be added to your credit card balance. If you don’t pay the amount due in full by the due date, your credit card’s regular interest rate for purchases will apply on the transfer fee from the date the fee is posted to your account. Quebec residents aren't charged this fee. The amount you transfer will be charged interest at the promotional rate for the duration of the promotional offer period. Once this period ends, any remaining transferred balance will be charged interest at your card’s regular annual interest rate for Cash Advances, Balance Transfers and Convenience Cheques.

Yes. If you're trying to pay off a non-CIBC credit card or cover other expenses, you have options.

• Convenience Cheques: You can order personalized cheques that draw from your CIBC credit card account. These can be used to pay off another credit card balance, pay bills or cover everyday expenses where cards aren't accepted. To order personalized CIBC Convenience Cheques, call us at 1-800-465-2422.
• Funds transfer: You can move available credit from your CIBC credit card into your chequing account with CIBC Online Banking® or CIBC Mobile Banking®. You can then use those funds to pay off a balance, make a purchase or cover other costs.

For both Convenience Cheques and funds transfers, your card's standard interest rate for Cash Advances, Balance Transfers and Convenience Cheques will apply, starting from the date the transaction is posted. If you're eligible for a promotional offer on these transactions, any applicable terms and fees will be provided at the time the offer is made and before you complete the request.

If you've requested CIBC Convenience Cheques, you should receive them by mail within two weeks.

Most balance transfers are completed within two weeks and will appear on your credit card statement.

You're still responsible for any payments and interest due on your non-CIBC account until the transfer is fully processed and credited to that account. In some cases, you may be charged interest on both your CIBC card and your non-CIBC account at the same time until the transfer is complete.

No, you won’t earn rewards on a balance transfer because they’re considered a different type of credit card transaction than everyday purchases.