CIBC Aventura Visa Card for Business Review
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
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Performance test results
At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.
You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.
The CIBC Aventura Visa Card for Business has earned a 4.31 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).
4.4
Rewards
1.7
Fees
2.2
Perks
2.8
Interest rates
4.1
Insurance
5.0
Acceptance
2.5
Approval
The highest scoring categories for the CIBC Aventura Visa Card for Business are rewards and insurance.
These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.
This weighting allows us to judge cards on their merits and the customers they are designed for.
For the CIBC Aventura Visa Card for Business the most important factors for scoring this card are its rewards and insurance.
Rewards
With the CIBC Aventura Visa Card for Business, here’s the rates at which you earn rewards for different spending categories per dollar you spend:
| Bills | 1 point |
| Pharmacy | 1 point |
| Gas | 1.50 points |
| Groceries | 1 point |
| Restaurants | 1 point |
| Specific Stores | 2 points |
| Travel | 1.50 points |
| All Other Spend | 1 point |
Calculating your annual rewards
We estimate that spending $2,000 per month with the CIBC Aventura Visa Card for Business would earn $618 in rewards over the year.
Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.
We found that you’d earn this per category:
| Gas | $82 |
| Specific Stores | $55 |
| Travel | $41 |
| All Other Spend | $440 |
Our study investigating the value found that each dollar spent on the CIBC Aventura Visa Card for Business is worth up to $0.02, depending on how you redeem.
This $618 in rewards value puts the CIBC Aventura Visa Card for Business in the top 20% of credit cards in Canada based on rewards earned.
The average credit card in our database earns $337 in rewards for the same spend that the CIBC Aventura Visa Card for Business earns $618 in rewards value.
We can compare this card to other options by looking at the earn rate by category.
This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.
For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.
In this example, that’s a 10% earn rate on gas.
| Spend | This Card | Average |
|---|---|---|
| Bills | 2.29% | 1.25% |
| Pharmacy | 2.29% | 1.17% |
| Gas | 3.44% | 1.48% |
| Groceries | 2.29% | 1.71% |
| Restaurant | 2.29% | 1.53% |
| Store | 4.58% | 1.94% |
| Travel | 3.44% | 1.19% |
| Other | 2.29% | 1.08% |
| Redemption method | Annual rewards |
|---|---|
| Redeem for travel | $270 |
| Apply to statement credit | $224 |
| Charity | $270 |
| Gift cards | $192 |
| Merchandise | $192 |
| Airlines Rewards (Charts) | $618 |
| CIBC financial products | $224 |
For an annual spend of $24,000, we estimated annual rewards value at up to $618.
That’s equivalent to a 2.58% return on spending.
The CIBC Aventura Visa Card for Business has an annual fee of $120. After deducting this, we predicted net annual rewards of $498.
This puts it in the top 10% of credit cards for net rewards after fees.
In comparison, the average card earns net annual rewards of $254.
Fees
The CIBC Aventura Visa Card for Business has a $120 annual fee.
The average card charges $85. So, the CIBC Aventura Visa Card for Business is in the top 30% of cards based on the cost of the annual fee.
Perks
We manually review the perks of each credit card to determine how they compare to other cards.
The CIBC Aventura Visa Card for Business scored a 2.2 out of 5 for perks, putting it in the top 30% of cards.
The average card scores 1.6 out of 5 for perks.
Interest Rates
| Purchase | 19.99% |
| Cash Advance | 21.99% |
| Balance Transfer | 21.99% |
The average (median) credit card has a purchase interest rate of 19.99% and so the CIBC Aventura Visa Card for Business charges {{purchase_interest_diff}} than the average.
For cash advances it costs 21.99% compared to the average of 19.96%.
Testing the CIBC Aventura Visa Card for Business with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.
Insurance coverage
| Insurance | This Card | Average |
|---|---|---|
| Extended Warranty | 1 year | 1 year |
| Purchase Protection | 90 days | 90 days |
| Travel Accident | $500,000 | $500,000 |
| Trip Cancellation | $1,000 | $1,500 |
| Trip Interruption | $2,000 | $2,000 |
| Flight Delay | $500 | $500 |
| Baggage Delay | $500 | $500 |
| Rental Car Theft & Damage | Yes | No |
We scored it 4.1 out of 5 for insurance.
It offers 8 types of insurance, whereas the average card has 5 types of coverage.
Approval and qualifying
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 760 – 900 |
| Personal Income | $35,000 |
| Household Income | $0 |
| Fees | |
|---|---|
| Annual Fee | $120 |
| Extra Card Fee | $0 |
| Card type | Visa |
We scored it 2.5 out of 5 for approval.
We predict that you will require a credit score of at least 760 to qualify for the CIBC Aventura Visa Card for Business, while the average card requires 652 to qualify.
This puts it in the top top 10% of cards by approval difficulty.
The personal income requirements are $35,000, while the average card requires $23,896.
This puts it in the top 30% of cards by the income required to qualify.
The BMO Cashback World Elite MasterCard is a popular cash back BMO credit card in Canada offering rewards and various benefits to cardholders. Its earning potential, benefits, and drawbacks are laid out below.
Earning potential
With the BMO Cashback World Elite MasterCard, cardholders earn 1.5% cash back on all their purchases, with no limits or categories. This consistent cash back rate simplifies earning rewards, allowing users to accumulate cash back at the same rate across dining, travel, grocery, and other spending.
Benefits
- Insurance Coverage: This card offers a comprehensive travel insurance package, including travel medical insurance, trip cancellation/interruption insurance, and car rental collision/loss damage waiver. This coverage provides peace of mind for cardholders while travelling.
- Complimentary Roadside Assistance: Cardholders enjoy complimentary membership to the Dominion Automobile Association (DAA), which gives BMO Cashback World Elite MasterCard users access to valuable roadside assistance benefits in case of emergencies on the road.
- BMO Concierge Service: As a cardholder, you have access to the BMO Concierge Service. This exclusive service allows you to make travel arrangements, restaurant reservations, and more with just a call to their dedicated phone line, offering convenience and luxury.
- Airport Lounge Access: This card gives cardholders exclusive access to MasterCard Airport Experiences provided by LoungeKey, which can help make travelling more enjoyable with access to over 1,000 airport lounges worldwide (fees apply per lounge visit).
Drawbacks
- Annual Fee: The BMO Cashback World Elite MasterCard has an annual fee of CAD$120, which may be a drawback for users who are budget-conscious or who don’t spend enough to offset this with earned cash back rewards.
- Required Income: To be eligible for this card, users must have a minimum personal income of CAD$80,000 (or a minimum household income of CAD$150,000). This requirement can be a significant barrier for individuals who do not meet this income threshold.
Additional information
New cardholders can benefit from a welcome offer of 5% cash back on all purchases (up to CAD$2,500 spending) for the first 3 months. The BMO Cashback World Elite MasterCard also comes with additional purchase protection, such as extended warranty and purchase protection.
This extra layer of security increases its value for consumers who are seeking a reliable and well-rounded cash back credit card.
Interested in other credit cards? Canadians that like the BMO Cashback World Elite MasterCard credit card also like the BMO Rewards MasterCard. If you’re looking for other options you should consider the BMO Eclipse Visa Infinite Card, and the BMO Preferred Rate MasterCard.
FAQ
Key benefits
- Earn 5% cashback during your first three months, up to $100 in total rewards
- 1.5% cashback rate with no caps on everyday purchases
- Enjoy 4 complimentary Mastercard Airport Experience visits yearly
- Access to a 24/7 concierge service for personalized assistance
- Protection with extended warranty and purchase protection benefits
- AVIS and Budget car rental discounts up to 25%
- Out-of-Province/Country emergency medical coverage for trips up to 8 days
- Delayed or lost baggage, personal effects, and trip cancellation/interruption insurance options
- Worldwide common carrier accident protection and travel emergency medical insurance
- Roadside support available through a complimentary membership in BMO Roadside Assistance
- 1.99% APR on balance transfers for 9 months (3% transfer fee), then 22.99% APR applies
- 19.99% annual interest rate on purchases
- Expedited security line access at select Canadian airports with Mastercard®*Valet™ airport service
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.
Benefits
- Benefit: 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: 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: 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: 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.
Drawbacks
- Drawback: 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: 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
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
