In an increasingly globalized world, international students are seeking financial solutions that cater to their unique needs. One such solution is the range of credit cards offered by the Canadian Imperial Bank of Commerce (CIBC). In this article we will provide you a detailed overview of the CIBC credit cards for international students in 2024.
CIBC Credit Cards For International Students
CIBC Dividend Visa Card for Students
CIBC Dividend Visa Card for Students is a good option. This card offers a variety of benefits and features, so Let’s review of CIBC Dividend Visa Card for Students.
Cash Back Rewards
One of the main attractions of the CIBC Dividend Visa Card for Students is its cash back rewards program. Cardholders can earn 2% cash back on eligible grocery purchases, which can be a significant saving for students who cook at home. Additionally, the card offers 1% cash back on eligible gas, electric vehicle charging, transportation, dining, and recurring payments. All other transactions earn 0.5% cash back. This comprehensive rewards program ensures that students can earn cash back on a wide range of everyday expenses.
Welcome Offer
The card also comes with a welcome offer that gives new cardholders $50 cash back after they make their first purchase within the first 4 months. This is a nice bonus that can help offset initial expenses.
No Annual Fee
The CIBC Dividend Visa Card for Students comes with no annual fee, making it a cost effective choice for students who are conscious about minimizing their expenses.
Minimum Credit Limit
The card has a $1,000 minimum credit limit, providing students with a reasonable amount of credit to manage their expenses.
No Minimum Income Requirement
There’s no minimum income requirement to apply for this card, making it accessible to students who may not have a regular income.
Insurance Coverage
When you charge eligible purchases to your card, you can enjoy Purchase Security Insurance and Extended Warranty Insurance. This can provide peace of mind when making significant purchases.
Journie Rewards
Cardholders can save up to 10 cents per litre at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations when they link their card with Journie Rewards. This is a great perk for students who drive.
SPC Membership
The card also comes with a free SPC+ membership, which offers additional student benefits and discounts at a wide range of retailers.
Send Money Abroad
The card allows cardholders to send money abroad to over 120 countries with a $0 transfer fee. This can be particularly useful for international students or those who have family abroad.
The CIBC Dividend Visa Card for Students is a well-rounded student credit card that offers a wide range of benefits. From cash back rewards to insurance coverage, this card has a lot to offer. Whether you’re a student looking for your first credit card or someone seeking a card that offers great rewards, the CIBC Dividend Visa Card for Students is worth considering.
CIBC Aventura Visa Card for Students
Welcome Offer and Annual Fee
CIBC Aventura Visa Card for Students welcomes new users with an offer to earn up to 2,500 Aventura Points, all for no annual fee. This is a great way for students to start accumulating points right off the bat, without having to worry about any additional costs.
Interest Rates
The card has a purchase interest rate of 20.99%, and a cash interest rate of 22.99% for non Quebec residents and 21.99% for Quebec residents. These rates are fairly standard in the credit card industry.
Earning Aventura Points
One of the key features of the CIBC Aventura Visa Card for Students is the ability to earn Aventura Points. Cardholders earn 1 point for every $1 spent at eligible gas stations, electric vehicle charging stations, grocery stores, and drug stores. They also earn 1 point for every $1 spent on travel purchased through the CIBC Rewards Centre. For all other purchases made using the card, cardholders earn 1 point for every $2 spent.
Additional Benefits
Beyond the points system, the card offers a range of additional benefits. If a new eligible purchase is lost, stolen, or damaged within the first 90 days, the purchase may be protected by Purchase Security Insurance. This provides an added layer of security for cardholders.
The card also offers more travel flexibility, allowing cardholders to redeem points towards flights, car rentals, hotels, vacation packages, and more, with points that don’t expire. This makes it a great option for students who love to travel.
Cardholders can also redeem Aventura Points to cover full airfare including taxes and fees, use their Aventura Points to help pay down their credit card balance, or contribute them to select financial products. This flexibility in how points can be used is a major selling point of the card.
Finally, the card offers a free SPC+ membership, providing students with even more opportunities to save.
So we gave you a brief review of CIBC Aventura Visa Card for Students is a robust option for students looking for a credit card that offers a great rewards program, a host of additional benefits, and no annual fee. As always, it’s important to check the official CIBC website or contact them directly for the most accurate and up-to-date information.
CIBC Aeroplan Visa Card for Students
This card, with its zero annual fee and no minimum income requirement, is designed to provide students with a stepping stone into the world of credit and travel rewards. So let’s review of CIBC Aeroplan Visa Card for Students.
Welcome Offer and Basic Features
The card welcomes new users with an offer that can provide up to $200 in value during the first year. It also offers a minimum credit limit of $1,000, making it accessible for students who are just starting to build their credit history. The purchase interest rate is 20.99%, while the cash interest rate is 22.99% for non-Quebec residents and 21.99% for Quebec residents.
Earning Aeroplan Points
The CIBC Aeroplan Visa Card for Students offers a simple and rewarding points system. Cardholders earn 1 point for every $1 spent on eligible gas, electric vehicle charging, groceries, and with Air Canada directly, including through Air Canada Vacations. For all other purchases, cardholders earn 1 point for every $1.50 spent. This allows students to start accumulating points right away, which can be redeemed for flights and other rewards.
Additional Benefits
Beyond the points system, the card offers a range of additional benefits. These include insurance coverage for car rentals and new purchases, the ability to combine points with other Aeroplan members in your household through Aeroplan Family Sharing, and the assurance that Aeroplan points won’t expire as long as you, the primary cardholder, continue to hold your CIBC Aeroplan credit card.
The CIBC Aeroplan Visa Card for Students is a compelling choice for students looking to enter the world of credit and travel rewards. With its generous points system, additional benefits, and student friendly features, it offers a unique blend of value and accessibility. As always, it’s important to use credit responsibly and understand the terms and conditions of any credit card before applying.
The CIBC Aeroplan Visa Card for Students offers significant value in the first year, with up to $200 in value for new members. With no annual fee and valuable insurance included, this card is a great option for students who frequently fly with Air Canada and other Star Alliance member airlines.
CIBC Classic Visa Card for Students
No Annual Fee
One of the most attractive features of the CIBC Classic Visa Card for Students is its zero annual fee. This makes it an affordable choice for students who are just beginning to build their credit history.
Credit Limit and Interest Rates
The card offers a minimum credit limit of $1,000, providing students with a reasonable amount of credit. The purchase interest rate is 20.99%, and the cash interest rate is 22.99% for non Quebec residents and 21.99% for Quebec residents.
Insurance and Protection
The card comes with Purchase Security and Extended Protection, and $100,000 Common Carrier Accident Insurance. This means that your new purchases are protected for 90 days if they are stolen or break.
Fuel Savings and Money Transfer
Cardholders can save up to 10 cents per litre at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations. Additionally, there are no transaction fees when you send a CIBC Global Money Transfer.
Student Benefits
The CIBC Classic Visa Card for Students offers a free SPC+ membership, which can save students up to 30% on over 450 top brands when they shop online or in store.
So in the review of the CIBC Classic Visa Card for Students is a comprehensive financial tool designed with students in mind. Its zero annual fee, reasonable credit limit, and a host of benefits make it a worthy consideration for students looking to build their credit history while enjoying a range of perks.
All these cards have no minimum income requirement, allowing international students to apply regardless of their income level. Cardholders can also get up to three additional cards free, making it easier to manage finances with family members or roommates. With unlimited cashback on various categories, these cards offer a flexible and rewarding way for students to manage their finances.
How can I apply for a CIBC credit card?
Applying for a credit card can seem like a daunting task, especially for those who are new to the process. However, the Canadian Imperial Bank of Commerce (CIBC) has streamlined the application process, making it easier than ever to apply for one of their credit cards. Here’s a step-by-step guide on how to apply for a CIBC credit card.
Step 1: Choose the Right Card
CIBC offers a variety of credit cards, each with its own unique benefits and features. Whether you’re looking for travel rewards, cash back, or a simple, no-frills card, CIBC has a credit card that fits your needs. Use the compare tool on the CIBC website to narrow down your options.
Step 2: Gather Your Information
Before you begin the application process, make sure you have all the necessary information at hand. This includes your full legal name, date of birth, home address, phone number, email address, current and previous employers, gross annual income, and information on other credit cards you hold. Having this information ready will make the application process smoother and faster.
Step 3: Apply Online, Over the Phone, or In Person
CIBC offers three convenient ways to apply for a credit card:
- Online: Visit the CIBC website, find the credit card you’re interested in, and click the “Apply Now” button to start the application process.
- Over the Phone: Call CIBC’s customer care representative.
- In Person: Visit a CIBC Banking Centre near you.
Step 4: Wait for Approval
Once you’ve submitted your application, the approval process begins. If you meet all the application criteria, you could receive conditional approval within 60 seconds of submitting your online application. However, if additional information is required, CIBC may reach out for further details. Once the application is fully approved, the physical card usually arrives in the mail within 5-7 days.
Remember, these are general steps and requirements for applying for a CIBC credit card. The exact process and requirements may vary.
Applying for a credit card is a significant financial decision. By understanding the application process and carefully considering your options, you can find a credit card that best suits your needs and financial situation.
What is the eligibility criteria for a CIBC credit card?
When applying for a CIBC credit card, there are several eligibility criteria that applicants must meet. Firstly, applicants must be Canadian citizens or residents, with those holding temporary residence status potentially facing a longer review process. The age of majority, which is either 18 or 19 depending on the province, is the minimum age requirement. A good credit score is another crucial factor in the application process, and applicants should not have filed for bankruptcy in the past seven years. Lastly, there is a minimum annual income requirement that varies depending on the specific card. It’s important to note that these are general requirements and the exact criteria may differ for each card.
In conclusion, CIBC offers a range of credit cards tailored to the needs of international students. Whether you’re looking for cash back, travel rewards, or a simple, no-frills card, CIBC has a credit card that fits your needs. Always remember to check the latest information on the CIBC official website or contact them directly for the most accurate details.
Disclaimer: This article is intended for informational purposes only. Please consult with a financial advisor or the respective financial institution for more information.
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