Best CIBC Student Credit Cards in Canada (2022)

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by Enoch Omololu

Updated

Advertiser Disclosure

Students can use a CIBC student credit card to build their credit history while also earning rewards and paying no annual fees.

The great thing about applying for a CIBC student card is that you don’t need to meet a minimum annual income requirement and your credit limit is at least $1,000.

CIBC student credit cards also give you access to free SPC membership.

Read on to learn about the best CIBC credit cards for students, including their features, pros, cons, fees, and alternatives.

About CIBC

The Canadian Imperial Bank of Commerce (CIBC) is one of the largest financial institutions in Canada with more than 11 million customers.

It was established in 1961 but dates back to 1867 when the Canadian Bank of Commerce was established.

CIBC offers a wide array of financial products and services to individuals and businesses including chequing accounts, savings accounts, mortgages, loans, investments, insurance, and credit cards.

Learn more about Canada’s top banks.

CIBC Student Credit Cards

The four CIBC student credit cards are:

  • CIBC Aventura Visa Card
  • CIBC Aeroplan Visa Card
  • CIBC Dividend Visa Card
  • CIBC Classic Visa Card

CIBC Aventura Visa Card For Students

The CIBC Aventura Visa Card for students has no annual fees.

Cardholders earn 1 point per $1 spent on gas, grocery, and drugstore purchases (on a limit of $6,000 in annual spending).

Double the points are earned when you purchase travel through the CIBC Rewards Center, and you earn 1 point per $2 spent on everything else.

This card also comes with car rental insurance, carrier accident insurance, purchase security, and extended warranty protection.

You can redeem Aventura points for gift cards, travel merchandise, and more.

  • Annual fee: $0
  • Minimum credit limit: $1,000
  • Purchase interest: 20.99%
  • Cash advances: 22.99%

Con: High purchase interest rate at 20.99%.

CIBC Aventura Visa Card For Students

CIBC Aeroplan Visa Card for Students

The CIBC Aeroplan Visa Card for students is a good option if you are looking for an Aeroplan credit card.

You earn 1 Aeroplan point per $1 spent on gas, groceries, and Air Canada purchases; and 1 point per $1.50 spent elsewhere.

This card also includes common carrier accident insurance, car rental insurance, purchase security, and extended warranty protection.

  • Annual fee: $0
  • Minimum credit limit: $1,000
  • Purchase interest: 20.99%
  • Cash advances: 22.99%

Con: High purchase interest rate at 20.99%.

CIBC Aeroplan Visa Card For Students

CIBC Dividend Visa Card for Students

The CIBC Dividend Visa Card for students is a great cash back credit card, offering 2% cash back on groceries; 1% cash back on gas, dining, transportation and recurring payments; and 0.50% cash back on everything else.

You can redeem cash back earned starting at $25.

This card also includes common carrier accident insurance, purchase security, and extended warranty insurance coverage.

  • Annual fee: $0
  • Minimum credit limit: $1,000
  • Purchase interest: 20.99%
  • Cash advances: 22.99%

The CIBC Dividend Visa Card is also one of CIBC’s international student credit cards.

Cons: High purchase interest rate and annual spending limits on the 2% and 1% cash back categories.

CIBC Dividend Visa Card for Students

CIBC Classic Visa Card For Students

The CIBC Classic Visa Card for students is a plain vanilla credit card with no cash back or points rewards.

Cardholders enjoy access to common carrier accident insurance, purchase security, and extended warranty insurance.

  • Annual fee: $0
  • Minimum credit limit: $1,000
  • Purchase interest: 20.99%
  • Cash advances: 22.99%

Con: This credit card does not offer rewards when you spend.

CIBC Classic Visa Card for Students

Alternatives To CIBC Student Credit Cards

The following student credit cards are easy to qualify for and they offer competitive cash back rewards.

1. Tangerine Money-Back Credit Card

Students only need a 600+ credit score and $12,000 annual income to qualify for the Tangerine Money-Back Credit Card.

This no fee card offers unlimited 2% cash back on 2-3 categories of spending and 0.50% cash back on everything else.

If you also need to transfer a balance, you can do so for 1.95% in the first 6 months.

Learn more in this review.

Summary

The Tangerine Money-Back Credit Card is one of the best no-annual-fee cash back credit cards in Canada. It offers 2% unlimited cash back on two categories of spending of your choice or three if you have a Tangerine bank account. You also earn 0.50% cash back on all other purchases. New cardholders can take advantage of a 1.95% balance transfer rate in their first 6 months. Lastly, it includes purchase protection and extended warranty insurance.

Tangerine Money-Back Credit Card

4.5
Welcome Bonus

10% cashback

Annual Fee

$0

Regular APR

19.95%

Credit Score

Fair/Good

No annual fee

Up to 2% competitive cashback rate

Unlimited cashback rewards

1.95% promotional balance transfer

Limited insurance benefits

2% rate not available at Costco or Walmart

2. Neo Financial Mastercard

The Neo Card is one of the best cash back credit cards in Canada without an annual fee.

New cardholders also get up to 15% cash back when they make their first purchases at participating retailers.

Learn more in this detailed review of the card.

Summary

The Neo Financial Mastercard (Neo Card) is an excellent cash back rewards credit card with no annual fees. It offers up to 5% cash back when you shop at 7,000+ Neo partner stores and a 1% minimum cash back across all purchases, subject to a $5,000 max. spending each month. There is also a 15% cash back bonus when you make your first purchases at participating partners.

neo secured credit card

Neo Financial Mastercard

4.5
Welcome Bonus

$25 Bonus

Annual Fee

$0

Regular APR

19.99% – 24.99%

Credit Score

Fair/Good

No annual fee

Up to 5% competitive cashback rate

15% first-time cash back bonus at select stores

Includes a virtual Neo Card

No insurance benefits

Monthly fee for higher rewards tiers

3. Scotiabank SCENE Visa Card

The SCENE Visa Card offers 1 Scene+ point per $1 spent on everyday purchases and 5 Scene+ points per $1 spent at Cineplex. This Scotiabank Student credit card is easy to qualify for even if you have limited income.

Summary

The Scotiabank SCENE Visa Card is a student credit card that is easy to qualify for. It offers 5 Scene+ points per $1 spent at Cineplex theatres or at cineplex.com, and 1 Scene+ point per $1 spent on everyday purchases.

SCENE Visa Card

Scotiabank SCENE Visa Card

4.0
Welcome Bonus

5,000 points

Annual Fee

$0

Regular APR

19.99%

Credit Score

Good/Very Good

No annual fee

Save on car rentals

No insurance benefits

Low cash back earn rate on everyday purchases

4. Simplii Financial Cash Back Visa Card

This Simplii credit card has no annual fees and pays 0.50% to 4% cash back on everyday purchases. Learn more in this review.

Summary

The Simplii Financial Cash Back Visa Card is an entry-level cash back credit card if you are looking to earn rewards without paying annual fees. It offers 4% cash back on dining ($5,000 annual spend limit); 1.50% cash back on gas, groceries, drugstore, and recurring bill payments ($15,000 annual spend limit), and 0.50% cash back on everything else.

Simplii Financial Cash Back Visa Credit Card

Simplii Financial Cash Back Visa

4.5
Welcome Bonus

10% cashback

Annual Fee

$0

Regular APR

19.99%

Credit Score

Good/Very Good

No annual fee

Competitive cashback earn rates

9.99% promo purchase interest for 6 months

Limited insurance benefits

Cap on 4% and 1.5% cashback rates

Benefits of a Student Credit Card

Improve credit score: The bank reports your history to the credit bureaus and if you make payments on time, you can increase your credit score. Check your credit score here for free.

Earn rewards: Depending on the card, you can earn cash back rewards or points you can redeem for gift cards, free travel, or as statement credits.

Insurance coverage: Get free purchase protection that protects things you buy in the event they are damaged or stolen within 90 days of purchase. Many student cards also extend the warranty on your purchases for up to one year.

Learn to use credit: A credit card can help you learn how to manage your finances and prepare you for a world where responsible use of credit and loans is an advantage.

Disadvantages of Student Credit Cards

If your spending gets out of control and you don’t pay off your credit card balance each month, you could be paying 20% to 25% interest on your outstanding balance.

Also, if you are not making payments on time, your credit rating can become damaged, making it harder for you to access lines of credit in the future.

How To Apply For a CIBC Student Credit Card

The application process for a CIBC credit card is similar to other Canadian credit cards.

For a student credit card, you will need to be a:

  • Post-secondary student
  • A resident of Canada who is the age of the majority

You must also not have declared bankruptcy in the past 7 years. Banks have other income and credit criteria they may take into consideration.

CIBC Student Credit Card FAQs

What is the credit limit for a CIBC student credit card?

The credit limit varies depending on several factors, including your credit score. The minimum CIBC student credit card limit is $1,000.

Is CIBC free for students?

CIBC offers no-fee chequing and credit accounts for students.

Can I sign up for a CIBC student card without being a student?

Yes, the CIBC student credit cards on this list are also available to individuals who are not students.

Related:

Best Credit Offers in July 2022

Earn up to 10% cash back for a limited time ($100 bonus)

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

Get 10% bonus cash back in first 2 months ($100 value).

1.95% balance transfer offer for 6 months.

Get up to 10% cashback and grow your savings ($20 bonus)

Free prepaid reloadable Mastercard (use referral code CASHBACK during signup for $20 free).

Access to a portion of your paycheque 3 days early.

Free budgeting app with automatic savings features.

1.20% savings interest on every dollar balance.*

Compare the best personal loan rates in Canada

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals are available in as fast as 5 minutes.

Low-interest rates start at 1.99% and terms from 4-60 months.

The NeoCard pays up to 5% cash back at select retailers

Get a $25 bonus when you apply for the Card.

Up to 5% cash back at participating stores.

No annual account fees and 1% minimum cash back guaranteed.

Guaranteed instant approval credit card.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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