CIBC bizline Visa Card for Small Business Review

4.30

$0.00

Annual Fee

$0.00

Annual Rewards

N/A

Intro Offer

$0.00

Annual fee

$0.00

Annual rewards

N/A

Intro offer


Pros


  • No annual fee
  • Competitive interest rates
  • Cashback reward of 1.5% for office supplies and cloud services purchases
  • Cashback reward of 0.5% on all other purchases
  • Access to exclusive Visa Business benefits
  • Online account management tools
  • Enhanced expense tracking and reporting
  • Optional employee cards with customizable limits

Cons


  • No welcome bonus or offer
  • Better cashback rewards available on other business credit cards
  • Limited insurance coverage compared to other cards
  • Additional spending can quickly outgrow the cashback reward value

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 bizline Visa Card for Small Business, here’s how you earn rewards:

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

Calculating your annual rewards

$24,000.00 annual spending x $0.00% return on spending = $0.00 annual rewards

$0.00 annual rewards – $0.00 annual fee = $$0.00 net annual rewards

Details and eligibility

Do I qualify?
Estimated Credit Score760 – 900
Personal Income$35,000.00
Interest Rates
Purchase8.2%
Cash Advance8.2%
Balance Transfer8.2%
Fees
Extra Card Fee$0
Card typeVisa

Insurance coverage

Travel Accident100000

CIBC bizline Visa Card for Small Business Review

The CIBC bizline Visa Card for Small Business is a credit card designed specifically for business owners and offers several perks for cardholders. In this review, we will discuss its earning potential, four key benefits, two drawbacks, and additional information to help you decide if it’s the right card for your business needs.

1. Earning potential with the card: This card does not offer a traditional points or cash back rewards system. Instead, it focuses on providing cardholders with a competitive interest rate on purchases and attractive business-related features. This makes it an ideal card for businesses that wish to keep costs low without pursuing a conventional rewards structure.

2. Benefit 1: The first major advantage of the CIBC bizline Visa Card for Small Business is its low interest rate on purchases, which can help businesses save money on interest costs, especially if they consistently carry a balance from month to month.

3. Benefit 2: The second major advantage is that this card offers up to 55 interest-free days on purchases. This means that businesses can make purchases without incurring interest, as long as they pay their balance in full by the due date each month. This can be a helpful cash flow management tool for small businesses.

4. Benefit 3: The third major advantage is that there is no annual fee for this card. This can be beneficial for businesses that wish to keep overhead costs low and do not want to pay an annual fee for their credit card.

5. Benefit 4: The fourth major advantage is the availability of free supplementary cards for employees or business partners. This can simplify expense tracking and management, as all transactions are consolidated onto one account, and individual spending limits can be set for each supplementary cardholder.

6. Drawback 1: A significant drawback of this card is the lack of a traditional rewards program such as points or cash back on purchases. This might be a downside for businesses that are looking to earn rewards for their spending or those that prefer a card with a more comprehensive rewards structure.

7. Drawback 2: Another significant drawback is that the CIBC bizline Visa Card for Small Business does not offer additional benefits or perks often associated with business credit cards, such as travel insurance, extended warranty coverage, or discounts on common business expenses.

8. Additional Information: The CIBC bizline Visa Card for Small Business is best suited to businesses that prioritize a low interest rate and no annual fee over gaining rewards or additional benefits. It is an excellent choice for businesses that require supplementary cards and wish to leverage their credit card spending to manage cash flow effectively. However, businesses that desire a comprehensive rewards structure or additional perks may want to explore other credit card options tailored to their specific needs.

Is the CIBC bizline Visa Card for Small Business not convincing you? Consider the Scotiabank Passport Visa Infinite Business Card or the RBC Business Cash Back Mastercard. Still not the right credit card? Make sure not to miss the RBC Avion Visa Infinite Business.

FAQ

The CIBC bizline Visa Card for Small Business credit card does not offer a traditional rewards points system that you may see with other cards. Instead, this card is designed to provide cardholders with a high credit limit, and low-interest rates on purchases and cash advances. The primary focus of this card is on helping small business owners manage cash flow effectively, rather than redeeming points for rewards.

The CIBC bizline Visa Card for Small Business does indeed have foreign transaction fees associated with it. When cardholders make a purchase in a foreign currency, they will incur a fee that is equivalent to 2.5% of the converted amount in Canadian dollars. This fee is charged in addition to the exchange rate applied to the transaction by Visa.

The CIBC bizline Visa Card for Small Business credit card does not have a specified minimum income requirement. This makes it a viable option for small businesses with varying income levels, allowing business owners to access valuable credit card benefits without feeling restricted by specific income prerequisites.

Key benefits

  • Interest rate: 12.99% on purchases, 13.5% on cash advances
  • Minimum credit limit: $1,000
  • Maximum credit limit: $50,000
  • Bilateral acceptance: Visa merchant network worldwide
  • 48-hour lost/stolen card service
  • Visa Zero Liability fraud protection
  • Payment options: Pay through mobile apps, online banking, or branches
  • 21-day grace period on new purchases
  • CIBC Customized BusinessPlus product compatibility
  • Credit card cash-advance capability through CIBC/PC Financial ATMs
  • Complementary 1-year subscription to Experian Business Reports

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