About the Card

The CIBC Select Visa* Card is a low-interest credit card designed for Canadians prioritizing low financing costs and debt management. It features a consistent, non-introductory 13.99% Annual Interest Rate on Purchases, Cash Advances, and Balance Transfers.

A key benefit is the promotional offer providing 0% interest for up to 10 months on credit card balance transfers of $100 or more, subject to a 1% transfer fee. This program has been recognized by Milesopedia and Rates.ca for its value.

Cardholders also receive up to 3 additional cards with no annual fee and can save up to 10 cents per litre on fuel at participating Pioneer, Fas Gas, Ultramar, and Chevron gas stations when linking the card with Journie Rewards. Security features include the Visa Zero Liability Policy and tools like the digital Lock and Unlock feature.

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About the Bank

CIBC (Canadian Imperial Bank of Commerce) is a leading Canadian financial institution. The CIBC Select Visa* Card is part of its suite of personal banking products, emphasizing security, credit management, and low borrowing costs.

CIBC provides a full suite of digital tools to manage the account, primarily through the CIBC Mobile Banking App. Users can easily Activate a new card, set or change their PIN, access the Lock and Unlock feature, and manage their account balance. The app also allows cardholders to set up Spending Alerts and define Authorized User Spending Limits.

CIBC's focus is on delivering diverse financial needs with straightforward products and strong digital control features.

Why Choose This Card?

The CIBC Select Visa* Card stands out uniquely in the Canadian market because its primary function is not to earn rewards, but to serve as a powerful low-interest financial tool. This focus on cost savings is immediately evident in its consistent 13.99% Total Annual Interest Rate (TJA), a rate that remains low year after year, unlike many introductory rates that expire. This rate is highly competitive, making it exceptionally valuable for anyone who may occasionally or regularly carry a credit card balance.

Beyond the low TJA, a compelling reason to choose this card is its award-winning introductory offer: the ability to secure 0% promotional rates on transferred balances for up to 10 months. This feature has been recognized for excellence by industry experts, providing a clear path to consolidating and managing higher-interest debt.

The card's overall value proposition is rooted in direct financial savings and practical benefits, rather than complex point structures. Cardholders enjoy immediate savings through fuel discounts, potentially up to 10 cents per litre at participating gas stations when linked with Journie Rewards. Furthermore, for those who send money overseas, the card offers Zero Transaction Fee Global Money Transfers with no interest incurred, provided the balance is paid by the due date.

Target Audience

The CIBC Select Visa* Card is specifically designed for a particular segment of the Canadian population: individuals and families primarily focused on minimizing interest costs and efficiently managing existing debt. Unlike credit cards that prioritize rewards points or high cashback earnings, this card's core value proposition is its exceptionally low financing cost. It is an ideal choice for Canadians who find themselves occasionally, or frequently, carrying a balance on their credit card account, as the card offers a consistent, permanent 13.99% Annual Interest Rate on purchases and other transactions.

This card is also perfectly suited for those with high-interest debt on other credit products who are looking for a strategy to consolidate their balances. The promotional introductory offer of 0% interest for up to 10 months on balance transfers of $100 or more (subject to a 1% transfer fee) makes it a recognized, award-winning tool for this purpose.

Finally, the target user values simplicity, security, and digital control. The card appeals to those who wish to use modern digital tools like the CIBC Mobile App to Lock and Unlock their card , set up personalized Spending Alerts to stay on budget , and define Authorized User Spending Limits for secondary cardholders. To qualify for the card, applicants must meet a Minimum Annual Household Income of $15,000.