In Canada, Money

Canadian Promotion: CIBC Dividend Infinite Visa – 10% Cashback up to $2K

I just signed up for this card because it is giving the first year’s annual fee of $99 for free ($0), and 10% back on purchases up to a spend of $2000.

Basically, a $200 total Cashback which is insanely high.

You need $60K in income or a household income of $100K to qualify.

Other features

  • 4% cash back on gas and grocery purchases
  • Get 1% cash back on everything else
  • No limit on the total cash back you can earn
  • Travel medical coverage – Get 15 days of out-of-province coverage

Note: I just want the 10% Cashback

I plan on cancelling it once I get my $200 from the 10% Cashback, and not keeping it especially with an annual fee.

I may keep it for the year until the annual fee is about to be charged and use it for groceries as 4% back is higher than the 3% back on the other TD card I applied for a while back.

1% Cashback in general is is not interesting to me when other cards like the Rogers card is giving 1.75% with a forex purchases at 4%.

I spend way more on other things versus gas or groceries.

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