CIBC Dividend Visa Card for Students
- APR
- 21.99% – 22.99%
- Annual Fee
- $0
- Rewards
- Up to 2.0%
- Sign-Up Bonus
- CA$125
This no annual fee student Visa card offers up to 2% cashback on groceries and a $125 welcome bonus.
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Our Verdict
This card is a great choice for students looking to earn cashback without an annual fee.
Pros
- No annual fee
- Up to 2% cashback on groceries
- Generous $125 welcome bonus
- Visa card accepted widely
- Good for building credit history
Cons
- High APR of 21.99%
- Limited to grocery cashback
- Not ideal for those with larger expenses
- Cashback may take time to accumulate
- No additional perks or benefits
The CIBC Dividend Visa Card for Students is tailored for young adults looking to maximize their grocery spending. With up to 2% cashback on groceries and no annual fee, it's a compelling choice for students who prioritize everyday purchases. The $125 welcome bonus is split into a $25 reward after the first purchase plus an additional 10% cashback on the first $1,000 spent, making it easier to start earning rewards.
However, the APR is quite high at 21.99%, which can be a significant drawback for students who might not pay off their balances in full each month. This card is not intended for those with large expenses outside groceries, as the cashback is limited to that category. Users should consider their spending habits carefully.
Customer feedback on the CIBC app indicates a generally positive experience, though some users mention the need for improved customer service. It's important to compare this to alternatives like the Scotiabank Scene Visa, which offers broader cashback categories and potentially lower APRs. Overall, this card is best suited for those who will take full advantage of the grocery rewards while managing their balances responsibly.
Who It's For
Ideal for students focused on earning cashback on grocery purchases while avoiding annual fees.
Watch Out
Be mindful of the high APR if you carry a balance, as interest can add up quickly.
Summary
The CIBC Dividend Visa Card for Students is a practical option for students looking to earn cashback on groceries, though its high APR is a notable concern.
Best For
Best for students wanting to earn cashback on everyday grocery purchases without incurring fees.
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What Customers Say
Cardholders appreciate the cashback benefits but are concerned about the high interest rates.
