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Pay off large or unplanned purchases with lower interest rates
Whether it's completing home renovations, planning your next trip, or dealing with something unexpected, manage your cash flow and pay at a pace that works for you. With CIBC Pace It, you can pay off eligible large credit card purchases with low interest rate Installment Plans — no credit checks or approvals required. Request Installment Plans for eligible purchases online.
Easily budget your spending
Pay off big purchases in monthly installments at a lower interest rate.
Enjoy greater flexibility
Create multiple Installment Plans online in 3 simple steps, within your credit limit and with no additional credit checks required. Continue to earn rewards on all eligible purchases.
Manage on your own
Review and manage your Installment Plans through CIBC Online Banking® or the CIBC Mobile Banking® App.
Request an Installment Plan for all eligible purchases posted to your account. Review eligible purchases through online or mobile banking.
$100
monthly payments at 6.99%
monthly payments at 8.99%
2%
of purchase amount
How do I qualify?
- You're the primary cardholder of an eligible CIBC credit card that's in good standing
- You're registered for CIBC Online or Mobile Banking
- You have a qualifying purchase on your eligible CIBC credit card labelled "Eligible for Installments"
- You've reached the age of majority in your province or territory Learn about the age of majority. Opens in a dialog.
- You haven't declared bankruptcy within the last 7 years and you meet the other CIBC credit card eligibility requirements
Choose an eligible posted purchase
Sign on and review your credit card transaction history. Choose a purchase with an "Eligible for Installments" label.
Pick an Installment Plan option
Review the Installment Plan options, including the monthly payment and the One Time Installment Fee, if applicable. Choose the plan that works best for you.
Request your CIBC Pace It Installment
Review and agree to the terms and conditions. Select "confirm" to request the Installment Plan. Your Installment Plan may take 2 to 3 business days to process.
Don't have a CIBC credit card? Apply for one today. Explore credit cards.
More resources to get started
Get special rates with CIBC Pace It™ Installment Plans on Costco purchases
With a CIBC Costco Mastercard® and a CIBC Costco Business Mastercard® you can take advantage of special Installment Plan interest rates with no installment fees on eligible Costco purchases in Canada and at Costco.ca Opens in a new window. and Costcobusinesscentre.ca Opens in a new window..
Enter the purchase amount and choose an installment option. We'll calculate the monthly installment payment.
This calculator is for illustrative purposes only. Installment Plan options available to you may differ and may change from time to time. For Installments Plans requested during online checkout, participating retailers will determine the Installment Plan options presented during checkout.
Review a CIBC Pace It Installment Plan
Your Installment Plan details
Estimated monthly payment (including interest):
One Time Installment Fee:
$0.00Estimated total amount:
$0.00Estimated amount of less interest you'd pay if paid over the period selected at 20.99%:
$0.00All dollar values are in Canadian dollars.
Estimated total calculation assumes the monthly Installment Plan payments are made on the statement payment due date. If you pay a One Time Installment Fee, the total includes this fee.
Estimated less interest paid calculation assumes you make equal monthly payments at an annual interest rate of 20.99% over the same period as the Installment Plan option you select. If you pay a One Time Installment Fee on the Installment Plan, the calculation includes this fee.
Your minimum payment due on your credit card will increase by your monthly installment payment amount once you create an Installment Plan.
For more credit card tips and resources, visit manage my card.
Paying off Installment Plans
Changing, transferring and cancelling your Installment Plans
Installment Plans and CIBC Payment Protector™ Insurance2
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