CIBC Dividend Visa Infinite
Review

The CIBC Dividend Visa Infinite is the cash-back version of the Amex Cobalt. Where Cobalt earns Membership Rewards that you redeem for travel, the Dividend deposits actual cash into your bank account each January. No transfer math, no booking through portals — just real money.

You earn 4% cash back on groceries and gas (including EV charging), 2% on dining, transit, and recurring bill payments (Netflix, internet, phone, insurance, etc.), and 1% on everything else. Cash back is unlimited within reason (CIBC may cap total at $40,000 in annual eligible spend) and credited as a statement credit on your January statement.

For a family spending $1,000/month on groceries and $300/month on gas, the Dividend earns $52/month or $624/year in cash back. After the $120 fee, that's $504/year net — comparable to Cobalt's output for a household with no interest in travel rewards.

The Dividend is particularly strong for recurring bills at 2%. Most rewards cards earn just 1% on recurring charges. The Dividend's 2% on streaming, phone, internet, insurance, gym memberships, and other recurring debits adds up — a household with $400/month in recurring bills earns an extra $48/year.

Trade-offs: cash back is less flexible than transferable points. You cannot turn the Dividend's $624 into an Aeroplan business class redemption worth $2,400. But you also avoid point devaluations, transfer ratio changes, and the complexity of redemption optimization. Simplicity wins for many households.