Overview
The CIBC Dividend Visa is a no-frills, no-fee cash back card for Canadians who want straightforward rewards without paying an annual fee. It earns 2% cash back on groceries, 1% on gas, EV charging, transportation, dining, and recurring bill payments, and 0.5% on everything else.
There's no welcome bonus, no travel perks, and minimal insurance. What you get is simple: cash back on everyday spending, deposited directly as a statement credit. For budget-conscious cardholders who primarily spend on groceries and want a zero-cost card, it does the job. But anyone spending significantly outside grocery stores will find the 0.5% base rate underwhelming compared to competitors.
Earning Cash Back
The cash back structure covers the essentials:
- 2% cash back on eligible grocery purchases
- 1% cash back on gas, EV charging, transportation, dining, and recurring bill payments
- 0.5% cash back on all other purchases
What Counts as a Bonus Category?
The 1% tier is broader than it initially appears. It covers:
- Gas stations — fuel, car washes, convenience store purchases at gas stations
- EV charging — electric vehicle charging stations
- Transportation — public transit, ride-sharing (Uber, Lyft), taxis, parking
- Dining — restaurants, fast food, cafes, bars
- Recurring bill payments — subscriptions, streaming services, phone/internet bills, insurance
This makes the CIBC Dividend Visa one of the few no-fee cards that gives bonus cash back on dining and recurring bills — categories that many no-fee cards ignore.
Cash Back Projections
| Monthly Spending | Breakdown | Annual Cash Back |
|---|---|---|
| $1,500/month | $500 groceries, $300 gas/dining/recurring, $700 other | $198 |
| $2,500/month | $700 groceries, $500 gas/dining/recurring, $1,300 other | $306 |
| $4,000/month | $1,000 groceries, $800 gas/dining/recurring, $2,200 other | $468 |
Cash Back Redemption
Unlike many cash back cards that pay out only once per year, the CIBC Dividend Visa lets you redeem cash back on demand with a minimum balance of $10 through CIBC Online and Mobile Banking. You can also let it accumulate and receive an annual statement credit in December. There's no complicated points system, no expiry dates, and no redemption tiers — cash is cash.
Journie Rewards Fuel Savings
Cardholders can save up to 10¢ per litre on fuel at Journie Rewards partner gas stations, including Pioneer, Fas Gas, Ultramar, and Chevron locations. This stacks on top of the 1% gas cash back, creating a meaningful double-dip on fuel purchases. At 50 litres per fill-up, 10¢/L savings translates to $5 per tank — or roughly $130/year for weekly fill-ups.
Insurance Coverage
The CIBC Dividend Visa includes 2 basic insurance types — appropriate for a no-fee card:
| Coverage | Details |
|---|---|
| Extended Warranty | Adds 1 year to manufacturer's warranty |
| Purchase Security | 90 days against theft, loss, or damage |
What's Missing
The CIBC Dividend Visa does not include:
- Emergency medical insurance
- Trip cancellation or interruption insurance
- Flight delay or baggage delay insurance
- Rental car collision or damage insurance
- Mobile device insurance
If you travel at all — even domestically — you'll need separate travel insurance. This card is designed for everyday spending, not as a travel companion.
CIBC Dividend Visa vs. Competitors
| Feature | CIBC Dividend Visa | Tangerine Money-Back | SimplyCash Amex | CIBC Dividend Visa Infinite |
|---|---|---|---|---|
| Annual fee | $0 | $0 | $0 | $120 |
| Best earn rate | 2% (groceries) | 2% (up to 3 categories) | 2% (gas, groceries) | 4% (gas, EV, groceries) |
| Gas rate | 1% | 0.5% (or 2%) | 2% | 4% |
| Grocery rate | 2% | 0.5% (or 2%) | 2% | 4% |
| Dining rate | 1% | 0.5% (or 2%) | 0.5% | 2% |
| Base rate | 0.5% | 0.5% | 0.5% | 1% |
| Recurring bills | 1% | 0.5% (or 2%) | 0.5% | 2% |
| Insurance types | 2 | 0 | 0 | 6 |
| Fuel savings | Journie 10¢/L | Journie 10¢/L | ||
| Best for | Grocery focus | Flexible categories | Gas + groceries | High-spend cash back |
The verdict: The CIBC Dividend Visa's strength is its broad 1% category coverage — gas, EV, transit, dining, and recurring bills all earn at 1%, which is wider than most no-fee competitors. The Tangerine Money-Back card lets you pick 2–3 categories at 2% but drops to 0.5% on everything else. The SimplyCash Amex matches the 2% on gas and groceries but isn't accepted everywhere. If you spend heavily across the Dividend Visa's bonus categories, the combined 1% coverage and Journie fuel savings can outperform cards with higher rates on fewer categories.
Who Is This Card Best For?
This card is the right choice if you:
- Want no annual fee with straightforward cash back
- Spend most of your money at grocery stores where the 2% rate applies
- Value 1% cash back on dining and recurring bills — many no-fee cards skip these
- Bank with CIBC and want seamless integration with your bank account
- Fill up at Pioneer, Fas Gas, Ultramar, or Chevron and want the 10¢/L Journie savings
- Are a student or first-time cardholder looking for a simple starter card
- Don't need travel insurance or premium perks
It's not the best choice if you:
- Spend heavily outside of grocery stores — the 0.5% base rate loses to competitors
- Want a welcome bonus — this card offers none
- Need any travel insurance — no medical, cancellation, or delay coverage
- Want premium cash back rates — the CIBC Dividend Visa Infinite earns 4% on gas and groceries
- Travel frequently or spend in foreign currencies — the 2.5% FX fee is a drag
Fees & Interest Rates
| Annual fee | $0 |
| Additional card fee | $0 |
| Purchase interest rate | 21.99% |
| Cash advance rate | 22.99% |
| Foreign transaction fee | 2.5% |
Eligibility
- Minimum household income: $15,000
- Credit score: Good (estimated 660+)
- Instant approval: Available
Bottom Line
The CIBC Dividend Visa is a dependable, no-cost cash back card that won't wow anyone but won't cost anything either. The 2% grocery rate and broad 1% coverage on gas, dining, transit, and recurring bills give it more category breadth than most no-fee competitors. The on-demand cash back redemption and Journie fuel savings are nice touches.
Where it falls short is the 0.5% base rate and the complete absence of travel insurance. If groceries are your biggest spending category and you don't need travel perks, this card quietly delivers $200–$400/year in cash back for free. If you want more, the CIBC Dividend Visa Infinite upgrades every rate and adds proper insurance for $120/year.
