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In addition to their Aeroplan credit cards, CIBC has also come out with major updates to their in-house Aventura line of credit cards this quarter.
These offers have an open-ended expiry date and are valid as of November 1, 2022, so let’s take a closer look.
CIBC’s core in-house rewards product, the CIBC Aventura Visa Infinite Card, is offering 45,000 Aventura points with an annual fee waiver for the first year.
The welcome bonus is awarded as follows:
This is one of the best offers CIBC has put forward on the Aventura Visa Infinite over the years. Combined with the ongoing ability to redeem Aventura points for 1.25 cents per point (cpp) against pending travel purchases through December 31, 2022, 45,000 Aventura points is worth a minimum of $562.50.
Normally, the card awards modest rewards on everyday purchases:
As a cardholder, you’ll also get a DragonPass membership with four lounge passes for you and your guests (including access to airport restaurants and experiences), as well as a NEXUS application fee rebate.
Applicants must have at least $60,000 in annual personal income, or $100,000 in annual household income. If you don’t meet the income threshold of the Visa Infinite, you could instead apply for the CIBC Aventura Gold Visa Card as long as your income is over $15,000, with an equivalent welcome offer.
CIBC Aventura Visa Infinite Card
The premium variant of the Aventura family, the CIBC Aventura Visa Infinite Privilege Card, has increased its welcome bonus to a total of 80,000 Aventura points, distributed as follows:
Compared to before, the positive change here is that not only has the welcome bonus increased, but the points are also much easier to earn without a monthly spending requirement. $3,000 is a very achievable minimum spend requirement and 50,000 Aventura points is quite a generous lump sum.
The regular earn rates on the Visa Infinite Privilege card are more generous than its lower-tier counterparts:
The card comes with an annual fee of $499. Luckily, it can be reduced by $139 if you have a CIBC Smart Plus Chequing Account. It can also be partially offset by the card’s $200 annual travel credit, bookable by phone with the CIBC Rewards Travel Centre.
By maximizing these two rebates, you can reduce the net annual fee to $160.
In fact, since the annual travel credit is based on a calendar year cycle, you could even redeem two sets of the $200 travel credit and come out ahead in the first year!
The Visa Infinite Privilege card comes with the same travel benefits as the Visa Infinite card, but stronger: six DragonPass visits per year instead of four, and more insurance coverage.
You’ll also have access to the Visa Infinite Privilege Concierge service, which is useful for booking exclusive experiences, such as dining reservations or event tickets, as well as travel arrangements.
If you intend to renew the card for a second year, you’ll be given 30,000 Aventura points, which are worth a minimum of $300. Combined with the $200 annual travel credit, you’ll effectively get to keep this card for a second year and continue enjoying its Visa Infinite Privilege perks for no fee, if you so choose.
You must have at least $200,000 in annual household income to apply for any Visa Infinite Privilege card.
CIBC Aventura Visa Infinite Privilege Card
At first glance, the offer for the CIBC Aventura Visa Card for Business looks very strong, at 60,000 Aventura points. This is the same signup bonus as seasons past, and the card has an annual fee of $120.
But once again, the breakdown of the bonus is its demise:
You need to spend $65,000 to earn the full welcome bonus. That works out to over $5,000 per month for a full year. Consider that many other premium cards require $5,000 total over three months to earn the full bonus, and it’s pretty clear that your spending volume could be better allocated to other cards.
While it’s easy enough to get business credit cards, there are better cards out there at the moment. I’d favour cards like the Business Platinum Card from American Express, with a larger bonus and a more valuable award program.
If you are interested in picking up this card for your business, here are the everyday rewards rates on purchases:
Applicants can be approved with at least $35,000 in personal annual income. Or, if you’d prefer to apply on the basis of your business financials, you can apply for the CIBC Aventura Visa Card for Business Plus, which has all of the same features and bonuses.
CIBC Aventura Visa Card for Business
CIBC is running a couple of decent welcome bonuses on Aventura credit cards. The best option is the CIBC Aventura Visa Infinite, which is offering 35,000 Aventura points upon spending $1,000 in four months.
The ongoing promotion of redeeming Aventura points towards all pending travel purchases at 1.25cpp is set to run until December 31, 2022, so you have two months to make the most of any of these CIBC Aventura signup bonuses.
Although not the highest priority, I treat Aventura as a strong filler option for collecting points. If you’ve exhausted, say, your Aeroplan opportunities and are at a loss for your next card, now would be a good time to grab some “low-hanging fruit” offers such as this one.
