This is CIBC's low-rate card, and what sets it apart is that cash costs the same as purchases: 13.99% on both, where most other CIBC personal cards charge 21.99% on purchases and 22.99% on cash. The current offer adds 0% on balance transfers for up to 10 months with a 1% fee, a third of the 3% that BMO and MBNA charge on their low-rate offers.
I'd point it at someone moving a modest card balance who wants the cheapest transfer fee. The trade-offs: the 0% window is shorter than BMO's 18 statement periods, you need $15,000 in household income, and there is no insurance at all, not even purchase protection. There are no rewards either, so if you pay in full every month a no-fee rewards card is the better choice.
Welcome offer
CIBC's welcome offer is 0% interest for up to 10 months on balance transfers of $100 or more, with a 1% transfer fee and a first-year rebate of the $29 annual fee, verified on CIBC's page on October 15, 2026. The transfer has to be requested with the online application, by ticking the balance transfer option, and the offer is not available later. CIBC says it applies to applicants approved beginning July 16, 2026 and prints no end date.
The 10 months are counted in statement periods from the date of application, not from when the transfer posts, so the real 0% window is a little shorter than the headline. Transfers are capped at 50% of your credit limit (and your cash limit), and anything left after the promotion is charged the regular cash rate of 13.99%. The 1% fee works out to $10 per $1,000 moved, and CIBC does not charge it to Quebec residents.
Decide the transfer amount before you apply, since the offer only exists on the application. Divide it by 10 and pay at least that much each month, and never miss two required payments in a row: that ends the 0% rate. While a promotional balance remains, new purchases lose their grace period unless you pay the whole balance, so keep everyday spending on another card.
Fees & eligibility
The card costs $29 a year, rebated once for the first year under the current offer, with up to 3 additional cards at no fee. You need a household income of at least $15,000, and the card has a minimum credit limit of $1,000.
Purchases and cash both carry 13.99% interest; CIBC's cash rate covers cash advances, balance transfers and convenience cheques. Miss two required payments in 12 months and the rates rise to 25.99% on purchases and 27.99% on cash for at least 12 months. Purchases get a grace period of at least 21 days when you pay in full, and foreign currency purchases carry a 2.5% conversion fee.
The fee pays for itself once you carry enough debt. Against the 21.99% purchase rate on most other CIBC personal cards, the 8-point gap saves $8 a year for every $100 carried, so the $29 fee is covered once your average balance is above roughly $363. On cash advances the gap is wider: 13.99% against 22.99%.
Perks & benefits
The perks are CIBC's shared partner deals rather than anything specific to a low-rate card. Linking the card to Journie Rewards saves up to 10 cents per litre at participating Pioneer, Fas Gas, Ultramar and Chevron stations, a free Skip+ membership removes delivery fees from participating partners, and Disney+ Standard with Ads is half price for 6 months through a $4.50 monthly statement credit.
CIBC Global Money Transfer sends money to over 120 countries with a $0 transfer fee, with no cash advance fee and no interest if you pay your balance by the due date. The card's Benefits Guide adds up to 25% off at participating Avis and Budget locations in Canada and the US. There is no lounge access, no travel credit and no included travel insurance.
Insurance
The Select Visa includes no insurance. The product page lists no coverage, and the card's Benefits Guide describes no purchase security, extended warranty, travel or mobile device protection; it only mentions CIBC Travel Insurance as a separate paid plan.
That is the main gap against BMO's Preferred Rate and TD's Low Rate Visa, which both include 90 days of purchase protection and an extended warranty. If you buy electronics or appliances on the card, that difference can matter more than the transfer fee.
My take
I'd get this card to move a card balance for a 1% transfer fee; if you need more than 10 months at 0% or want purchase protection, I'd look at BMO's Preferred Rate instead.
The 13.99% on cash is the detail I like most. Most cards charge more for cash advances and leftover transfers than for purchases, and here they cost the same, so a balance that outlasts the 10-month promotion stays at 13.99% rather than jumping. With the first year's fee rebated, the 1% transfer fee is the only cost of the promotion in year one, as long as you pay on time.
The downsides: no insurance of any kind, a $15,000 household income bar, and a 10-month window counted from the day you apply. Nothing comes back on spending, so once the balance is paid off I'd move everyday purchases to a rewards card and keep this one only as a low-rate backup.
The good
- 13.99% on both purchases and cash
- 0% on balance transfers for up to 10 months with a 1% fee
- First-year $29 fee rebated
The catch
- No insurance at all
- Transfer only at application, with the window counted from the application date
- No rewards; $15,000 household income required