CIBC Aventura Visa Card for Students Review
Pros
- No annual fee
- Earn 1 Aventura Point per $1 spent on general purchases
- Earn 2 Aventura Points per $1 spent at the CIBC Rewards Centre
- Welcome offer of up to 5,000 Aventura Points
- Access to CIBC Aventura Airline Rewards Chart for discounted flights
- Travel accident and auto rental collision insurance included
- Flexible point redemption options, including travel, merchandise, and gift cards
Cons
- Limited bonus categories for earning points
- Lower point value when redeemed for merchandise or gift cards compared to travel rewards
- 5,000 Aventura Points might not be substantial for high-value redemptions
- Not the highest earning rate compared to other student credit cards
- No additional perks like lounge access or travel credits
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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 Students has earned a 4.46 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).
3.2
Rewards
5.0
Fees
1.7
Perks
2.5
Interest rates
2.1
Insurance
5.0
Acceptance
5.0
Approval
The highest scoring categories for the CIBC Aventura Visa Card for Students are fees and rewards.
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 Students the most important factors for scoring this card are its fees and rewards.
Rewards
With the CIBC Aventura Visa Card for Students, here’s the rates at which you earn rewards for different spending categories per dollar you spend:
| Bills | 0.50 point |
| Pharmacy | 1 point |
| Gas | 1 point |
| Groceries | 1 point |
| Restaurants | 0.50 point |
| Specific Stores | 1 point |
| Travel | 0.50 point |
| All Other Spend | 0.50 point |
Calculating your annual rewards
We estimate that spending $2,000 per month with the CIBC Aventura Visa Card for Students would earn $392 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:
| Pharmacy | $14 |
| Gas | $55 |
| Groceries | $137 |
| Specific Stores | $27 |
| All Other Spend | $158 |
Our study investigating the value found that each dollar spent on the CIBC Aventura Visa Card for Students is worth up to $0.02, depending on how you redeem.
This $392 in rewards value puts the CIBC Aventura Visa Card for Students in the top 40% 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 Students earns $392 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 | 1.15% | 1.25% |
| Pharmacy | 2.29% | 1.17% |
| Gas | 2.29% | 1.48% |
| Groceries | 2.29% | 1.71% |
| Restaurant | 1.15% | 1.53% |
| Store | 2.29% | 1.94% |
| Travel | 1.15% | 1.19% |
| Other | 1.15% | 1.08% |
| Redemption method | Annual rewards |
|---|---|
| Redeem for travel | $171 |
| Apply to statement credit | $142 |
| Charity | $171 |
| Gift cards | $121 |
| Merchandise | $121 |
| Airlines Rewards (Charts) | $392 |
| CIBC financial products | $142 |
For an annual spend of $24,000, we estimated annual rewards value at up to $392.
That’s equivalent to a 1.63% return on spending.
The CIBC Aventura Visa Card for Students has an annual fee of $0. After deducting this, we predicted net annual rewards of $392.
This puts it in the top 30% 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 Students has a $0 annual fee.
The average card charges $85. So, the CIBC Aventura Visa Card for Students is in the bottom 50% 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 Students scored a 1.7 out of 5 for perks, putting it in the top 50% of cards.
The average card scores 1.6 out of 5 for perks.
Interest Rates
| Purchase | 20.99% |
| Cash Advance | 22.99% |
| Balance Transfer | 22.99% |
The average (median) credit card has a purchase interest rate of 19.99% and so the CIBC Aventura Visa Card for Students charges 1% more than the average.
For cash advances it costs 22.99% compared to the average of 19.96%.
Testing the CIBC Aventura Visa Card for Students with a $2,000 starting balance, you can see in the graph how the 1% more 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 | $100,000 | $500,000 |
| Rental Car Theft & Damage | Yes | No |
We scored it 2.1 out of 5 for insurance.
It offers 4 types of insurance, whereas the average card has 5 types of coverage.
Approval and qualifying
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 300 – 559 |
| Personal Income | $0 |
| Household Income | $0 |
| Fees | |
|---|---|
| Annual Fee | $0 |
| Extra Card Fee | $0 |
| Card type | Visa |
We scored it 5.0 out of 5 for approval.
We predict that you will require a credit score of at least 300 to qualify for the CIBC Aventura Visa Card for Students, while the average card requires 652 to qualify.
This puts it in the top bottom 20% of cards by approval difficulty.
The personal income requirements are $0, while the average card requires $23,896.
This puts it in the top 50% of cards by the income required to qualify.
The CIBC Aventura Visa Card for Students offers a well-rounded rewards program that caters specifically to the college and university population. With competitive earning potential and numerous benefits, it deserves a look from students looking to make the most of their credit card use.
Earning rewards with the Aventura Student card
Cardholders earn Aventura Points on their everyday purchases. For every $1 spent on travel purchased through the CIBC Rewards Centre, you’ll collect 1 Aventura Point. You’ll also receive 1 Aventura Point for every $2 spent on other purchases, such as groceries, dining, and other eligible spending.
No fee for students
One of the most attractive features of this card is that there is no annual fee, making it accessible for students on a tight budget. This means you can start building your credit and earning rewards without worrying about any upfront costs.
Flexible reward redemption options
The Aventura Points you collect with this card can be redeemed for various rewards, including travel, merchandise, gift cards, and even paying down your credit card balance. This flexibility allows you to choose rewards that best suit your needs and preferences.
Travel benefits through CIBC
CIBC Aventura Visa Card for Students offers a set of travel benefits, such as the ability to redeem points to book flights on any airline with no blackout dates, which is a significant plus when trying to book trips during peak periods.
Additionally, cardholders gain access to the Visa Infinite Privilege Concierge service, which provides personalized assistance for travel, booking, and more.
Get a free SPC membership as a cardholder
Students who possess the CIBC Aventura Visa Card automatically receive a free membership to the Student Price Card (SPC) that allows them to enjoy discounts at many participating retail partners across Canada. This is an added benefit that could save users hundreds of dollars each year in shopping discounts.
Relatively low earn rate on spend
While the earning potential is decent for a student card, at 1 Aventura Point per $1 spent on travel and 1 Aventura Point per $2 spent on other purchases, it may not be the most lucrative rewards card on the market. However, considering the lack of an annual fee, it still represents a suitable option for budget-conscious students.
No sign-up bonus
Unlike some credit cards targeted toward students, the CIBC Aventura Visa Card for Students does not offer any introductory bonuses or promotional interest rates. These incentives can be valuable for students looking to kick-start their rewards, so their absence may be a disadvantage for some.
Who is this CIBC Student card right for?
In conclusion, the CIBC Aventura Visa Card for Students presents an attractive option for Canadian students looking to earn flexible rewards without paying an annual fee.
Although there are some drawbacks, such as modest earning potential and the lack of introductory offers, the overall benefits make it worth considering for those starting their financial journey and credit-building process.
Is the CIBC Aventura Visa Card for Students not convincing you? Consider the CIBC Dividend Platinum Visa Card or the CIBC Classic Visa Card. Still not the right credit card? Make sure not to miss the CIBC Costco MasterCard.
FAQ
Key benefits
- Zero dollar yearly membership cost
- Accumulate 1 reward point per dollar on everyday spending
- Obtain 2 points per dollar for expenditures via CIBC Rewards Centre
- Introductory offer providing up to 5,000 bonus points
- Exclusive CIBC Aventura Airline Rewards matrix for cost-saving flights
- Complementary travel accident and rental car collision safeguard
- Diverse redemption options: travel experiences, desirable products, or gift certificates
- Restricted choice of bonus categories to gain points
- Diminished point value for product or gift card redemptions versus travel incentives
- Initial 5,000 bonus points may not allow for high-value reward redemptions
- Points earned per dollar not industry-leading among student-focused credit cards
- Lacks supplementary benefits such as airport lounge admission or travel vouchers
