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CIBC Platinum Dividend?

  • Last Updated:
  • Aug 4th, 2019 6:07 am
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[OP]
Penalty Box
Feb 23, 2014
1044 posts
549 upvotes

CIBC Platinum Dividend?

I've held a CIBC Dividend card forever. This week they sent me a CIBC Dividend Platinum.

It looks like it has an annual fee I have to pay of 100 bux. Is this legit? are they trying to phase out the regular dividend card?

and perhaps most importantly, is this card any good?

I also have a Costco Mastercard, which to my knowledge has no annual fee.

Thanks!
3 replies
Member
Aug 9, 2015
463 posts
295 upvotes
Calgary
I just google'd it.

-Special offer of 10% cashback for the first 4 statements, up to purchases of $2000. ($200 cb)
-4% on gas/groceries. 1% everything else.
-No limit on cb spend.
-$99 AF

You must have accepted an upgrade to the platinum along the line somewhere. Assuming you hit $2k spend in the first four months, $200-$99, you would still profit $101. The 4% on g/g is good. 1% everything else is slightly better than C1 Costco MC. C1 is only 0.5% cb for first $3000 spend, and 1% after that. Absolutely atrocious. The Costco MC is only good for dining and Costco gas really.

If you decide to keep the card I'd squeeze the platinum dividend for $200 cb from $2k spend, what you want to do after that is up to you. It's a good g/g card but the AF is a buzzkill. Certainly you would want to cancel this card before the AF post for next year.

The TD CBI is currently FYF, same 10% for the first $2k spend, 3% g/g after.
But at what cost
Deal Addict
Nov 8, 2017
1538 posts
859 upvotes
Been offered it a few times and declined. It's a good card(CIBC) in general for Balance Transfers. I get offers every other month@ 0% 10 months with 1-2% fee
Deal Guru
User avatar
May 8, 2009
14606 posts
12644 upvotes
Going to the Moon
@kukayla afaik CIBC Dividend Plat/Inf have accelorator cap of $20k annual spend on the 4% (then drops to 1%). In retrospect, the 3% accelorator is capped at $15k annual spend at TD CT. TD is definitely begging us to churn their Cashback Inf card since cashback can be redeemed any time (min $25) and anyone who spends heavily in the three categories could quickly end up hitting the $15k annual cap.
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