RateBuddy Verdict
The Good
- Includes a highly flexible $200 annual travel credit that effectively reduces the out-of-pocket cost of the annual fee.
- Offers 6 complimentary airport lounge visits per year globally through the Visa Airport Companion Program.
- Features an outstanding 2x points earn rate across a massive range of daily categories (dining, groceries, gas, transit, entertainment).
- Comes with 2 NEXUS application fee rebates every four years, which is perfect for couples traveling together.
The Trade-offs
- Carries a very high annual fee of $499 that is not waived in the first year.
- Requires a very strict minimum personal income of $150,000 or household income of $200,000 to qualify.
Rewards & Earnings
Groceries
2%
Dining
2%
Gas
2%
Travel
3%
Recurring Bills
1.25%
Base Rate
1.25%
Rewards Summary:
Travel via CIBC Rewards: 3 pts per $1; Dining, Gas, Transit, Groceries & Entertainment: 2 pts per $1; Base Earn: 1.25 pts per $1; Lounge Access: 6 free visits via Visa Airport Companion; Perks: $200 Annual Travel Credit & 2 NEXUS rebates.
Welcome Bonus Details
Join and earn up to $2,500 in value.
Estimated Value: $1,100
Features & Benefits
Airport Lounge Access
6 complimentary visits via Visa Airport Companion
Travel Medical Insurance
Included (Out-of-Province Emergency Travel Medical)
Mobile Device Insurance
Included
Car Rental Collision/Loss Damage Waiver
Included
Trip Cancellation/Interruption Insurance
Included
Extended Warranty Insurance
Included
Purchase Security Insurance
Included
Concierge Service
24/7 complimentary concierge
NEXUS Application Fee Rebate
Two NEXUS application fee rebates every 4 years
Flight Delay Insurance
Included
Baggage Delay/Loss Insurance
Included
Hotel Status Benefits
Diamond status at 60+ hotels (Visa RSVP) & Visa Infinite Luxury Collection
Priority Airport Services (Check-in, Boarding)
Priority Security Lane and parking discounts at select Canadian airports
Common Carrier Accident Insurance
Included
Hotel/Motel Burglary Insurance
Included
Insurance Coverage
Emergency Medical: Included; Trip Cancellation/Interruption: Included; Flight Delay & Baggage: Included; Car Rental Collision: Included; Common Carrier: Included; Hotel Burglary: Included; Mobile Device: Included; Purchase Security & Extended Warranty: Included
Rates, Fees & Eligibility
| Purchase APR | 21.99% |
|---|---|
| Cash Advance APR | 22.99% |
| Annual Fee | $499 |
| Income Required |
Personal: $150,000 Household: $200,000 |
| Recommended Credit Score | — |
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Filed Under
Travel Rewards
Premium / High-End
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