What's a credit card and how does it work?


Why do I need a credit card?

Understanding your card and statement

Credit card breakdown

Get to know your statement 

Statement balance:

Credit available:

Minimum payment:

Credit limit: 

Managing your credit card

Set budgets

Set up alerts

Make regular payments

How do I choose the right card?

Annual fee

Some cards let you earn rewards at a faster rate, but you have to pay an annual fee. Look for cards with no annual fee that still offer rewards.

Interest rate

The interest rate is what you'll be charged if you don't pay off your full balance each month. If you carry a balance, you'll want to choose a card with a low interest rate.


You can earn rewards, like travel points and cash back, on all your everyday purchases.

Your credit card questions answered

Keep reading for more money tips

CIBC advisor hands a credit card to a client

A crash course on credit

Savvy saving tips

Wallet containing cash

Getting smart with budgeting