CIBC Aventura Visa Card for Business Review

3.10

$120.00

Annual Fee

$618.30

Annual Rewards

25,000 points

Intro Offer

$120.00

Annual fee

$618.30

Annual rewards

25,000 points

Intro offer


Pros


  • Earn 2 Aventura Points per $1 spent on eligible business travel expenses
  • Earn 1.5 Aventura Points per $1 spent on eligible gas, dining, and hotel purchases
  • Earn 1 Aventura Point per $1 spent on other eligible purchases
  • Signup bonus offering 35,000 Aventura Points and a $120 travel credit for qualified new cardholders
  • Access to Visa SavingsEdge for potential discounts at partner merchants
  • Complimentary supplementary cards for employees
  • No fee for additional authorized users
  • Comprehensive insurance package, including travel emergency medical insurance and flight delay insurance

Cons


  • $180 annual fee, higher compared to some other business credit cards
  • Limited rewards program, primarily focusing on travel-related purchases
  • Not all businesses may benefit from the targeted rewards categories
  • Lower rewards earn rate on non-travel related purchases

How you earn rewards

Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With CIBC Aventura Visa Card for Business, here’s how you earn rewards:

Gas1.50 points
Specific Stores2 points
Travel1.50 points
All Other Spend1 point

How much your rewards are worth

The dollar value of your rewards depends on the specific CIBC rewards program and what you choose to redeem your points for.

For CIBC Aventura Visa Card for Business in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:

Redemption methodAnnual rewards
Redeem for travel$270.00
Apply to statement credit$224.10
Charity$270.00
Gift cards$191.70
Merchandise$191.70
Airlines Rewards (Charts)$618.30
CIBC financial products$224.10

Calculating your annual rewards

$24,000.00 annual spending x $2.58% return on spending = $618.30 annual rewards

$618.30 annual rewards – $120.00 annual fee = $$498.30 net annual rewards

Details and eligibility

Do I qualify?
Estimated Credit Score760 – 900
Personal Income$35,000.00
Interest Rates
Purchase19.9%
Cash Advance21.9%
Balance Transfer21.9%
Fees
Annual Fee$120.00
Extra Card Fee$0
Card typeVisa

Insurance coverage

Extended Warranty1 year
Purchase Protection90 days
Travel Accident500000
Trip Cancellation1000
Trip Interruption2000
Flight Delay500
Baggage Delay500
Rental Car Theft & DamageYes

CIBC Aventura Visa Card for Business Review

The CIBC Aventura Visa Card for Business is designed to cater to the needs of business owners by offering competitive reward rates and additional benefits. Here is an in-depth review of this credit card, taking into consideration its earning potential, major advantages, drawbacks, and other relevant information.

Earning Potential: With the CIBC Aventura Visa Card for Business, cardholders can earn valuable Aventura Points for various spending categories. Users gain 2 points for every $1 spent on travel booked through the CIBC Rewards Centre, 1.5 points per $1 for eligible gas station, office supply store, and cellphone/internet bill payments, and 1 point per $1 for all other spending.

Benefit 1: One of the major advantages of this card is its comprehensive travel insurance offering. Cardholders can enjoy trip cancellation/interruption coverage, flight delay coverage, lost or stolen baggage coverage, car rental collision/damage coverage, and so on.

Benefit 2: Another significant benefit is the variable annual interest rate of 12.99%. This lower-than-average interest rate can help in managing balances over time and ultimately save on interest charges compared to cards with higher rates.

Benefit 3: The Aventura Points earned through the card can be easily redeemed for travel, accommodations, and vacation packages with no blackout dates. Users can also redeem their points for gift cards, merchandise, or statement credits.

Benefit 4: CIBC Aventura Visa Card for Business offers exclusive access to individual airport lounges via Priority Pass membership. Additionally, cardholders receive a credit of up to $550 CAD for lounge visits outside Canada.

Drawback 1: A notable drawback of this card is the annual fee of $120. Although the card offers an extensive list of benefits, the annual fee may deter some business owners from choosing this option.

Drawback 2: Another significant drawback is that the bonus earn rate for travel purchases applies only to bookings made through the CIBC Rewards Centre. Some users might prefer shopping for travel deals with different providers, which would result in a lower reward rate on those purchases.

Additional Information: CIBC Aventura Visa Card for Business users can also take advantage of customized financial reporting tools and features designed to organize and simplify expenses. Additionally, cardholders can integrate with popular accounting software like QuickBooks and Intuit for seamless expense tracking.

In conclusion, the CIBC Aventura Visa Card for Business is a solid choice for business owners looking for competitive rewards, robust travel insurance coverage, and added travel perks. However, the annual fee and limitations on the bonus earn rate for travel purchases may dissuade some potential users from choosing this card.

Not the right fit? You could consider the RBC Visa Business Platinum Avion. Or, if you’re looking for other options check out the Visa Desjardins Business Card, and the BMO Cashback Business MasterCard.

FAQ

With the CIBC Aventura Visa Card for Business, cardholders can redeem their accumulated Aventura Points for a variety of rewards, including:

  • Flights: You can redeem your points for flights with numerous airlines through the Aventura Travel Assistant, giving you the flexibility to choose your preferred airline and route.
  • Travel Packages: Redeem your points for all-inclusive travel packages, offering accommodation and transportation for a seamless travel experience.
  • Hotel Stays: Use your points to book hotel stays at various properties around the world, ensuring a comfortable place to rest during your travels.
  • Car Rentals: Redeem points for car rentals, enabling you to secure transportation during your trips with ease.
  • Merchandise: Use your Aventura Points for a wide range of merchandise, including electronics, appliances, home goods, and more.
  • Gift Cards: Redeem points for gift cards from popular retailers and restaurants, giving you more options for shopping and dining.
  • Experiences: Utilize your points for unique experiences, such as concerts, spa treatments, and other leisure activities.
  • Financial Products: Use your points to contribute to select CIBC financial products, like mortgages, or to pay down your credit card balance.
  • Donations: You can also choose to donate your Aventura Points to select charitable organizations.

The CIBC Aventura Visa Card for Business charges a foreign transaction fee on purchases made in a foreign currency. This fee is typically 2.5% of the converted transaction amount, which is added on top of the exchange rate. Keep in mind that this fee applies not only to purchases made overseas, but also to online transactions billed in a non-Canadian currency.

The CIBC Aventura Visa Card for Business does not have a specified minimum income requirement to be eligible for the card.

Key benefits

  • Dual-tier rewards system tailored for travel, gas, dining, and hotel purchases
  • Attractive signup bonus with 35,000 Aventura Points grant and $120 travel stipend
  • Visa SavingsEdge access for exclusive merchant partnerships and savings opportunities
  • Complimentary employee card issuance for seamless expense management
  • Zero authorized user charges, promotes additional card distribution
  • Extensive insurance suite covering diverse travel-related incidents and emergencies
  • Standard annual fee of $180 may deter budget-conscious establishments
  • Rewards program concentration on travel spending lacks versatility for non-travel-leaning businesses
  • Niche rewards categories restricts lucrative points accumulation for some users
  • Diminished earning power in non-travel expense categories necessitates careful card usage consideration

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