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.

Rewards

All Spending

0x

pts per dollar

Interest Rates

Purchase Rate
13.99%
Cash Advance
13.99%
Balance Transfer Promo
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 0% interest for up to 10 months with a 1% transfer fee^† (balance transfer fee does not apply for Quebec residents) and a two year annual fee rebate^†

Check full offer details below^†:

Transfer your credit card balance of $100 or more and get 0% interest for up to 10 months with a 1% transfer fee^† (balance transfer fee does not apply for Quebec residents).

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 0% introductory interest rate on balance transfers of $100 or more for your first 10 months. You’ll only have to pay a 1% fee^† (balance transfer fee does not apply for Quebec residents) 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 of amounts less than $100 are not eligible for this promotional balance transfer offer and will be subject to the regular interest rate for Cash Advances applicable to your account.

Save over $600 with CIBC and Skip

Get a 12-month Skip+ free trial and other exclusive benefits when you link your CIBC Select Visa Card with Skip^†.

Save on gas with CIBC and Journie Rewards

Link and use your CIBC Select Visa Card with Journie Rewards to save up to 10 cents per litre^† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†

Legal

This is a digital-exclusive offer.^† To be eligible for this offer, you must apply for a new eligible card using the “Apply Now” link available on this webpage.^†

^† Terms and conditions apply. Click on Apply Now to learn more.