CIBC Select Visa* Card

Pros & Cons

Pros

—

Cons

–Foreign Transaction Fee (2.5%)
–No purchase protection

Our Review

The CIBC Select Visa* Card is one of the best Visa credit cards in Canada for balance transfers.

With this exclusive digital offer for this CIBC balance transfer credit card, you get:

a 0% interest rate on balance transfers of at least $100, for up to 10 months
a refund of the annual fee for two years^†

You only pay a 1% balance transfer fee when transferring a balance from another credit card (balance transfer fees do not apply to Quebec residents). Once the promotional period ends, the card’s standard interest rate of 13.99% applies to any remaining balance. This interest rate is lower than those charged by many other credit cards.

For example, you could make large purchases on another credit card (such as renovations or furniture and appliance purchases) and then transfer the balance to the CIBC Select Visa* Card to benefit from its 0% interest rate on balance transfers for 10 months.

CIBC Select Visa* Card cardholders can also save on gas through the card’s partnership with Journie Rewards, which allows them to save up to 10 cents per litre at participating gas stations.

The CIBC Select Visa* Card has a $29 annual fee (refunded for the first two years) and requires a minimum household income of $15,000 to qualify. With CIBC mobile banking and online banking services, you can easily track your credit limit and balance transfers from your phone or by signing in online.

Interest Rates

Purchase Rate
13.99%
Cash Advance
13.99%
Balance transfer rate
13.99%
Balance Transfer Promo
Intro period: 10
0%
Foreign Transaction Fee
2.5%

Eligibility

Household Income

$15,000

Terms & Conditions

Card Features

Transfer your credit card balance of $100 or more – Get a 0% interest rate for up to 10 months, with a 1% transfer fee^†, plus annual fee rebate for two years^†.

Check full offer details below^†:

Transfer your credit card balance of $100 or more and get a 0% interest rate for up to 10 months, with a 1% transfer fee^†.

Transfer up to 50% of your assigned credit limit^†
If you choose to carry a balance and you make your minimum payments on time, a balance transfer could save you money on interest
Take advantage of this introductory 0% interest rate on balance transfers of $100 or more for the first 10 months. You’ll only pay a 1% fee^† when you transfer your balance from another card to the CIBC Select Visa Card.
This balance transfer offer is only available at the time of your online application.^† Simply tick the checkbox to select the balance transfer option when you’re filling out your application

Once you take advantage of this offer, you will have a promotional rate balance on your account. As a result, you will lose your interest-free grace period on new purchases unless you pay your amount due, including any promotional rate balances, in full each month. While you will enjoy the promotional rate on the balances you transfer by using this offer, new purchases will be subject to the purchase interest rate.

Balance transfers under $100 are not eligible for this promotional balance transfer offer and will be subject to the regular cash advance interest rate applicable to your account.

Obtenez une adhésion gratuite à Skip+ quand vous liez votre carte de crédit CIBC admissible

De plus, profitez de la livraison gratuite et obtenez un bon mensuel de 10 $^†.

Faites le plein à moindre coût

Économisez jusqu’à 10 cents le litre aux stations-service participantes de Pioneer, Fas Gas, Ultramar et Chevron lorsque vous liez votre carte avec Récompenses Journie^†.