◊ • Transfer up to 50% of your assigned credit limit
• A balance transfer is an easy way to save money on interest if you choose to carry a balance and you make your minimum payments on time
• Take advantage of this 0% introductory interest rate on balance transfers for your first 10 months. You’ll only have to pay a 1% fee when you transfer your balance from another card to the CIBC Dividend® Visa* Card
• This balance transfer offer is only available at the time of your online application. Simply tick the checkbox to select the balance transfer option when you’re filling out your application
To qualify for this offer, you must apply through cibc.com. Offer qualifies only at the time of application. If you qualify and are approved for an eligible card, you can receive 0% interest for up to 10 statement periods from the date of application on any balances transferred (the “Offer”) if the below criteria are met:
i. Your CIBC credit card account (“Account”) must be in good standing at the time the balance transfer is processed; and
ii. The balance transfer amount must be $1 or more.
Otherwise, the regular annual interest rate for cash advances will apply to the balance transfer amount. If the balance transfer amounts exceed your approved credit limit determined by CIBC at the point of credit application, it will not be processed.
If you do not pay your minimum payment by the payment due date in any month during the promotional period, you will lose the benefit of this promotional interest rate offer and, effective the first day of the next monthly statement period, the regular annual interest rate for cash advances will apply to any remaining balance transfer amounts.
Balance transfers are processed in Canadian dollars and cannot be converted to other currencies. The promotional interest rate is charged on balance transfer amounts from the date they are posted to your Account until the end of the offer period stated on your Cardholder Disclosure Statement – CIBC Summary of Rates and Fees section that will arrive in your welcome package. After the promotional period, any remaining balance transfer amounts will be charged interest at the regular annual interest rate for cash advances, until the amount is repaid in full. During the promotional period, the regular annual interest rate for purchases will apply to purchase transactions and the regular annual interest rate for cash advances will apply to balance transfer(s) that do not qualify for the promotional interest rate. For more information on how interest is calculated, please refer to your CIBC Cardholder Agreement also included in your welcome package.
A fee of 1% ("Fee") of the balance transfer amount will be charged to your Account when the balance transfer amount is posted to your Account. If you do not pay off your Account balance in full by the due date, interest will be charged on the Fee at the regular annual interest rate for purchases from the date the Fee is posted to your Account.
Offer is subject to approval up to an amount equal to 50% of your assigned credit limit.
If the balance transfer amount plus the Fee exceeds your available credit or available cash limit, we may not approve the balance transfer, or we may honour transfer at the regular annual interest rate for cash advances and charge you an over-limit fee (if over-limit fees apply to your Account). No partial balance transfer amount will be applied.
Payments will be applied to your Account as set out in the "Application of Payments" section of your CIBC Cardholder Agreement and these terms and conditions. You cannot choose to apply your payments to your regular annual interest rate amount and leave your promotional interest rate balance transfer amount outstanding. For personal cardholders only: If you make a payment greater than your minimum monthly payment amount, the excess amount is allocated to your regular annual interest rate amounts and your promotional interest rate balance transfer amount in the proportion that each represents of the remaining balance. For example, if you have a regular annual interest rate purchase amount of $800 and a promotional interest rate balance transfer amount of $200, 80% of your payment will be allocated to your regular annual interest purchase amount and 20% will be allocated to your promotional interest rate balance transfer amount.
For personal cardholders only: If there are two or more promotional interest rate balance transfer amounts with the same promotional interest rate, your payment will be allocated to those balance transfer amounts in the reverse order that they were posted to the Account, starting with the balance transfer amount that was last posted to the Account. For example, if promotional interest rate balance transfer amounts with the same promotional interest rate are posted to your Account in January, February and March of any year, your payment will first be allocated to the balance transfer amount posted in March, then to the balance transfer amount posted in February and lastly, to the balance transfer amount posted in January of the same year.
Interest on the balance transfer amount may be charged on both your Account and the non-CIBC account(s) from which you are transferring a balance until the transferred amount is credited to the non-CIBC account(s). You are responsible for any payments due on the non-CIBC account(s) from which you are transferring a balance. Balance transfer(s) do not result in the cancellation of your non-CIBC account(s). Balance transfers cannot be used to make a payment on any other CIBC credit card or loan product and do not qualify to earn loyalty points, rebates or cash back rewards. You cannot dispute balance transfer transactions and we are unable to assist you with merchant disputes in respect of those transactions for which you have used a Convenience Cheque as the method of payment.
Promotional interest rate offer is available on select credit card accounts and is not transferable.
We may make changes to these terms and conditions at any time with or without prior notice unless advance notice is required by law. CIBC may notify you of such changes by sending a notice in accordance to the terms of your CIBC Cardholder Agreement.
Capitalized terms used in this document have the meaning given to them in the Cardholder Agreement unless otherwise defined.
1 Earn 4% cash back on purchases (less returns) at merchants classified by the credit card network as grocery stores or service stations/automated gas dispensers. Earn 2% cash back on purchases (less returns) at merchants identified as Tim Hortons or TELUS merchants by the merchant payment terminal. Some Tim Hortons and/or TELUS locations may be identified as other merchants by the merchant payment terminal. All other purchases earn 1% cash back. The 4% and 2% cash back offers are only available on the first $80,000 in net annual card purchases (meaning all card purchases by all cardholders, at any type of merchant) or $20,000 on gas, grocery, Tim Hortons or TELUS purchases on your account, whichever comes first; after that, net card purchases at all merchants, including grocery stores, service stations/automatic gas dispensers, Tim Hortons or TELUS will earn cash back at the regular rate of 1%. The $80,000 limit and the $20,000 limit will reset to zero after the day your December statement is printed. Terms, conditions and eligible merchant/merchant categories may change without notice. Cash back is earned on card purchases less returns and not on cash advances, interest, fees, balance transfers, payments and regular CIBC Convenience Cheques. Credits for returns made on your account may result in a deduction of cash back at a higher earn rate, even though the return may relate to a purchase that earned cash back at a lower rate. The cash back is accumulated each month, beginning with the January Visa statement, and awarded at the end of the year as a credit on the December statement. Credit card account must be open and in good standing at the time the cash back is awarded. Cash back will be credited to the primary cardholder’s account.
2 You are eligible for this annual fee rebate offer only if you apply and are approved for your first CIBC credit card. If you are a current or former CIBC cardholder, we may approve your application but you will not be eligible for the offer.
You must apply and be approved for a new eligible card between March 1, 2018 and June 30, 2018 to qualify for this offer.
If you apply and are approved for a new card, you will receive:
i. A one time annual fee rebate for you (the primary cardholder) and up to three authorized users added at the time of the application. This offer does not apply to annual fees for authorized users that are added after you submit your application. This offer applies for the first year only. If your application for an eligible card is not approved, you may be considered for another card (as disclosed in your credit card application). If you are approved for that card, this annual fee rebate offer will apply in the amount of the annual fee, if any, of the alternate card. If you qualify, the rebate will be awarded to you and will appear as a credit against the applicable annual fee(s) within two statements. Your new credit card account must be open and in good standing at time the rebate is awarded.
Offer applies to newly approved card accounts only; transfers from an existing CIBC credit card to a CIBC Dividend® Visa Infinite* Card or a CIBC Dividend Platinum® Visa Card are excluded. This offer is non-transferable. This offer may be withdrawn or changed without prior notice at any time. CIBC may, in its sole discretion, disqualify, limit or revoke this offer if you are believed to be abusing or manipulating it, or engaging in any suspicious or fraudulent activity.
3 Insurance coverage(s) included with CIBC credit cards are underwritten by Royal & Sun Alliance Insurance Company of Canada (RSA). Different cards will have different coverage(s). To learn about which coverage(s) are included with a specific card, and important information regarding coverage eligibility requirements, benefits, limitations and exclusions, see our Agreements and Insurance page www.cibc.com/ca/credit-card/agreements-insurance.html and the insurance certificate(s) in your card package. Some insurance coverage(s) require purchase(s), auto rentals, common carrier fares, hotel/motel and other trip costs to be charged to the card to activate coverage. Other conditions may also apply. Auto Rental Collision/Loss Damage Insurance (CLDI) is available for automobile rentals of up to 48 days. The full cost of the rental must be charged to the card and the rental agency's Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW) must be declined. CLDI provides coverage up to the actual cash value (ACV) of the rental vehicle as defined in your insurance certificate. Note that some rental agencies may assess their damages at an amount greater than the ACV of the rental vehicle and you may be liable to them for the difference. Before declining the rental agency's CDW or LDW, you should read carefully and compare the terms of the rental agreement, the CLDI insurance certificate in your card package and any other insurance you own to decide which coverage best meets your protection needs. Out-of-Province Emergency Travel Medical Insurance (TMI) covers the primary cardholder, their spouse and dependent children for the first 15 days of a trip if the primary cardholder and covered person is age 64 and under (for all cards that have TMI coverage dependent children must be age 20 or under, unless they have a permanent physical or mental deficiency); TMI may not cover medical procedures performed without pre-approval. TMI and Trip Interruption Insurance may not cover certain pre-existing health/medical conditions. Certain RSA coverages are "excess insurance" (all other sources of insurance and recovery must be exhausted before coverage is available). For more information, call RSA toll-free at 1 866 363 3338 in Canada, continental U.S and Hawaii or collect from elsewhere at 905 403 3338.
4 Interest rates will change from time to time on at least 30 days prior notice to primary cardholders. "Cash" means cash advances, balance transfers and Convenience Cheques.
5 Cash back is earned on a tiered basis on card purchases less returns and not on cash advances, interest, fees, balance transfers, payments or CIBC Convenience Cheques. Cash back is calculated as follows: on the first $6,000 in net annual card purchases excluding grocery on your account, the cash back earned is 0.5%; on amounts greater than $6,000 in net annual purchases excluding grocery the cash back earned is 1%. Earn 2% cash back on purchases (less returns) at merchants classified by the credit card network as grocery stores. All other purchases earn cash back at the regular tiered rate. The 2% cash back offer is only available on the first $6,000 in net annual card purchases at grocery merchants on your account; after that, net card purchases at grocery merchants will earn cash back at 1%. The $6,000 limit will reset to zero after the day your December statement is printed. Terms, conditions and eligible merchant categories may change without notice. Deductions of cash back for returns are made at the earn rate applicable at the time the return occurs. Credits for returns made on your account may result in a deduction of cash back at a higher earn rate, even though the return may relate to a purchase that earned cash back at a lower rate. The cash back is accumulated each month, beginning with the January Visa statement, and awarded at the end of the year as a credit on the December statement. Credit card account must be open and in good standing at the time the cash back is awarded. Cash back will be credited to the primary cardholder’s account.