Accessibility Quick Links
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.
Make eligible purchases at participating online retailers and request a CIBC Pace It Installment Plan during checkout. Available Installment Plan options are enabled by Visa*. CIBC Pace It Installment Plans cannot be requested at in-store checkout at this time.
$100
- Installment Plans available in terms from 3 to 48 months
- Interest rates range from 0% to 13.99% depending on the participating retailer
- No Installment Plan Fee applicable
How do I qualify?
- You have an eligible CIBC credit card that's in good standing
- You've made a qualifying purchase online at a participating retailer
- The total basket size of your online purchase is over $100
- 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
Make an eligible purchase
Enter your CIBC credit card number during checkout. If you've selected a qualifying purchase, participating retailers may display any available Installment Plan options at checkout. Available CIBC Pace It Installment Plan options at checkout will be enabled by Visa.
Pick an Installment Plan option
Review the Installment Plan options, including the monthly payment and interest rate, if applicable. Choose the plan that works best for you.
Confirm your Installment Plan request
Review and agree to the terms and conditions, then submit the Installment Plan request with your purchase. Your Installment Plan will be processed and posted to your account at the same time your purchase is posted to your account, subject to the Installment Plan Terms and Conditions. The purchase will be posted in full, like a regular purchase, and will be due in Installment payments on your monthly statement.
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..
These are examples of monthly Installment Plan payments, which are for illustrative purposes only.
Installment Plan options available to you may differ between participating retailers and may change from time to time. For Installment Plans requested during online checkout, participating retailers will determine the Installment Plan options presented during checkout.
Purchase amount
$1,000
Installment Plan options
3 monthly payments
- Monthly payment: $338.90 (includes interest if applicable)
- Installment Plan annual interest rate: 9.99%
- Installment Plan fee: $0
Estimated total amount: $1,016.70
6 monthly payments
- Monthly payment: $171.81 (includes interest if applicable)
- Installment Plan annual interest rate: 10.49%
- Installment Plan fee: $0
Estimated total amount: $1,030.82
12 monthly payments
- Monthly payment: $88.38 (includes interest if applicable)
- Installment Plan annual interest rate: 10.99%
- Installment Plan fee: $0
Estimated total amount: $1,060.52
All 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
Need to talk?
Get in touch. We're here to help