CIBC Select Visa Card 2024 Review – Canada’s Low-Interest Credit Card with Gas Savings

Affordable interest and simple costs

The CIBC Select Visa Card is one of the clearest low-interest options in Canada, offering a fixed 13.99% APR on purchases, balance transfers and cash advances. With a modest $29 annual fee and a low $15,000 household income requirement, this card is practical for Canadians who want to manage debt without punitive rates.

Because the CIBC Select Visa Card targets everyday affordability, it’s well suited for folks who occasionally carry a balance or want to consolidate higher-interest debt. The predictable rate and low fee keep monthly payments manageable across provinces from Ontario to British Columbia.

Everyday perks: gas savings and basic protection

One of the standout features of the CIBC Select Visa Card is fuel savings when linked to Journie Rewards: up to 10¢ off per litre at participating stations, which adds up quickly if you drive regularly. The card also includes $100,000 Common Carrier Accident Insurance, giving straightforward protection for travel by plane, train or bus.

Beyond gas and insurance, the CIBC Select Visa Card waives fees for sending CIBC Global Money Transfers, a useful saving for Canadians who support family abroad or handle business payments. These practical perks reinforce the card’s appeal as a low-cost, useful everyday credit option.

Who should apply and how to use it

The ideal applicant for the CIBC Select Visa Card is someone who values low interest over points or premium travel benefits—students, budget-conscious households, and those reducing debt will find real value. A credit score of around 700 or higher improves approval odds, but the income threshold makes the card accessible to many first-time applicants.

To get the most from the CIBC Select Visa Card, use it for planned purchases like groceries, utilities and gas, then pay on time to build credit. If you expect to carry a balance occasionally, put those balances on this card to save on interest compared with higher-rate options.

Comparisons, alternatives and final recommendation

Compared with cashback or rewards cards, the CIBC Select Visa Card won’t earn points, but it wins on low APR and low cost—useful when interest expense matters more than perks. Alternatives like Tangerine or Neo may suit those chasing rewards, but their higher rates make them less attractive for balance carryers.

If your priority is minimizing interest and keeping fees low, the CIBC Select Visa Card is a solid pick in Canada. Apply online through CIBC or visit a branch to discuss how this card fits your budget; responsible use can cut interest costs and help build a healthier credit profile over time.