CIBC Select Visa Card 2024 Review, 13.99% Rate, $29 Fee and 10¢ Per Litre Gas Savings for Canadians
CIBC Select Visa Card delivers practical low-interest credit relief for Canadians with a 13.99% rate, $29 annual fee and up to 10¢ per litre savings via Journie Rewards
Why choose the CIBC Select Visa Card in 2024
The CIBC Select Visa Card is one of Canada’s strongest low-interest credit options, featuring a fixed 13.99% rate on purchases, balance transfers and cash advances. With a modest $29 annual fee, this card is built for Canadians who want real savings on interest without sacrificing basic protections.
Accessibility is another selling point: the CIBC Select Visa Card requires only a $15,000 minimum household income and is positioned for cardholders who might carry a balance occasionally or are consolidating higher-interest debt. For many households across Ontario, BC and the Prairies, that mix of low APR and low fee hits the sweet spot.
Everyday benefits and practical savings
One standout perk is gas savings: link the CIBC Select Visa Card to Journie Rewards and earn up to 10¢ per litre at participating stations, which adds up quickly for commuters and families. The card also includes $100,000 Common Carrier Accident Insurance and useful services that matter to everyday Canadian life.
Another practical advantage is no fees for sending CIBC Global Money Transfers, which can be a meaningful saving for those supporting family abroad or managing cross-border finances. While it isn’t aimed at rewards chasers, the CIBC Select Visa Card focuses on tangible, money-back-from-interest value.
Who should apply and how it can improve credit
The ideal applicant for the CIBC Select Visa Card is someone who occasionally carries a balance or needs a dependable low-interest option for consolidation. If you’re prioritizing lower interest charges over travel perks or big cashback programs, this card does the heavy lifting without complicated tiers or hoops.
Using the CIBC Select Visa Card responsibly — keeping balances low relative to your limit and paying on time — can help rebuild or strengthen your credit history in Canada. The accessible income requirement and clear terms make it a practical tool for students, young professionals and anyone rebuilding credit.
Final verdict and tips to get the most value
Overall, the CIBC Select Visa Card is a solid pick for Canadians who want a straightforward low-interest credit card with sensible protection and real-world savings like 10¢ per litre via Journie Rewards. The combination of 13.99% APR and a $29 fee positions it well against higher-rate, no-fee alternatives.
To maximize benefits, use the CIBC Select Visa Card for planned purchases or balance transfers and avoid carrying large revolving balances whenever possible; set up automatic payments to protect your credit score and take advantage of the gas savings program. Apply online at CIBC or visit a branch to compare eligibility and get answers from a representative before committing.
