This is CIBC's most basic credit card: no annual fee, no rewards, and purchase security plus extended warranty on what you buy. It asks for $15,000 in household income and starts at a $1,000 credit limit, so it is an easy card to get approved for and keep forever.
The catch is that CIBC's no-fee Dividend Visa has the same $15,000 income bar and the same 21.99% purchase rate, and it pays 2% cash back at grocery stores. From what I can tell, the Classic only makes sense if you want no rewards program at all.
Welcome offer
There is no welcome bonus on the CIBC Classic Visa, and the card earns no points or cash back, so there is nothing to unlock with spending. CIBC's product page lists the $0 fee, the rates and the insurance, but no sign-up offer, as of October 15, 2026.
If a sign-up bonus matters to you, look at CIBC's rewards cards instead; this one is built around having no program at all.
Nothing to plan around here. If you want a first-year bonus, compare CIBC's no-fee rewards cards before applying.
Fees & eligibility
The card has no annual fee, and you can add up to 3 additional cards at $0 each. CIBC asks for a $15,000 minimum annual household income, and the card has a minimum credit limit of $1,000.
The product page lists 21.99% on purchases and 22.99% on cash advances, balance transfers and convenience cheques (21.99% for Quebec residents), so this is not a low-rate card. Foreign currency purchases carry a 2.5% conversion fee, new purchases get a 21-day grace period, and the cash limit starts at 50% of your credit limit. Pay the full balance each month and the rate never comes into play.
Perks & benefits
The extras are CIBC's standard partner offers rather than anything specific to this card. You can save up to 10 cents per litre with Journie Rewards at participating Pioneer, Fas Gas, Ultramar and Chevron stations: 3 cents at the pump with a linked card, plus 7 cents off one fill-up each time you reach 300 Journie Points. A linked card also gets a free Skip+ membership with a $10 monthly voucher, and Disney+ Standard with Ads is 50% off for 6 months.
The Benefits Guide adds up to 25% off time and kilometre charges at participating Avis and Budget locations in Canada and the US, and CIBC Global Money Transfer has no transaction fee. There is no lounge access, no travel credit and no foreign transaction fee waiver.
Insurance
The insurance covers purchases only, under a Belair certificate for the CIBC Classic Visa. Purchase Security covers most new items charged to the card against loss, theft or damage for 90 days, and Extended Protection doubles the manufacturer's warranty by up to 1 extra year, with a $60,000 total limit per cardholder across all CIBC cards. Both are excess insurance, so other coverage pays first.
There is no travel medical, trip cancellation, baggage, rental car, common carrier accident or mobile device coverage, so travel needs another card or a separate policy.
My take
I'd point most people to the CIBC Dividend Visa instead, which costs the same and pays cash back; I'd only pick the Classic if you want a card with no rewards program at all.
I don't see anything wrong with the Classic. It has no fee, a low income bar, free additional cards and purchase protection, which is all a backup card or a first card needs.
But CIBC's no-fee Dividend Visa asks for the same $15,000 household income, charges the same 21.99% and 2.5% foreign transaction fee, and earns cash back on groceries. If you carry a balance, I'd look at CIBC's Select Visa, with a 13.99% purchase rate for a $29 fee, which does more for you than the Classic ever will.
The good
- No annual fee and $0 for up to 3 additional cards
- Low $15,000 household income bar
- Purchase security and extended protection
The catch
- Earns no points or cash back
- No welcome offer
- 21.99% purchase rate and 2.5% foreign transaction fee, no better than CIBC's rewards cards