† CIBC Pace It™ Installment Plans allow primary cardholders to convert posted eligible Card Transaction(s) to monthly installment payments (including interest) over a fixed period of time. When you create an Installment Plan you will have the ability to choose the payment term (in months) with a corresponding annual interest rate. A One Time Installment Fee of 1.50% of the purchase amount applies. Once you accept the Installment Plan Terms and Conditions and create the Installment Plan through CIBC Online or Mobile Banking, you can cancel it at any time but you cannot change it. CIBC Pace It™ Installment Plans are only available: (a) on Accounts in good standing; (b) for certain eligible Card types and eligible Transactions; and (c) to non-Quebec residents.
1 Transactions must first be posted to your account before they can trigger a spend alert. It may then take up to 24 hours after a triggering transaction is posted for an alert to be sent. On select CIBC cards, an overlimit fee is charged if the account balance is over its credit limit on the date the statement is prepared.
2 This service is provided by Equifax Canada, a leading credit bureau in Canada.