Products and their features may change at any time.
1 The primary cardholder may assign and change the Authorized User Spending Limits on the credit card account for any authorized users by contacting CIBC. The Authorized User Spending Limits will be subject to the overall credit limit and cash limit on the credit card account, so the funds available to an authorized user may be less than his or her Authorized User Spending Limit. CIBC may make adjustments to any Authorized User Spending Limits at any time following a decrease in either the credit limit or the cash limit of the credit card account. On occasion, certain transactions are not processed in real time and the value of those transactions are not captured in the calculations of the Authorized User Spending Limits. As a result, an authorized user may exceed the Authorized User Spending Limit. The primary cardholder will continue to be fully liable for the credit card account in all cases. An Authorized User Spending Limit will reset monthly, or earlier if requested by the primary cardholder or if a payment on the credit card account is made by the applicable authorized user.
2 “Cash” refers to Cash Advances, Convenience Cheques and Balance Transfers, each as defined in the Cardholder Agreement.
Capitalized terms used herein have the meaning given to them in the Cardholder Agreement.
The information on this page is general only; it is not intended as specific investment, financial, accounting, legal or tax advice for any individual.