CIBC Aventura Visa Card For Business (Feb 2023)

December 19, 2022
Reviews
CIBC

The CIBC Aventura Visa Card For Business offers up to 2 Aventura points for every $1 spent on gas, groceries, transportation, and travel. Earning enough points can be redeemed for exciting rewards such as a 3-night stay at a 5-star hotel in Las Vegas or a $200 Costco Shop Card.

With an annual fee of $120, this is one of the cheapest business credit cards with a higher earn rate regarding its rewards. By adding $60 to the annual fee, enjoy lower interest rates, as low as 12.99% on purchases and 14.50% on cash interest.  

What Is The CIBC Aventura Visa Card For Business?

The CIBC Aventura Visa Card For Business is one of the cheapest business cards that CIBC offers. It caters to business owners who would love to earn points and rewards with a minimum annual personal income of $35,000. This card has two annual fees for choosing from – $120 or $180 – with the higher fee having a lower interest rate. You can earn up to 2 Aventura points on various purchases, which you can redeem for merchandise, flights, gift cards, and investment payments.

The CIBC Aventura Visa Card For Business may work like any other business credit card, but it can be worth it for its insurance coverage giving you the best experience on your trips. 

CIBC Aventura Visa Card For Business Features

The CIBC Aventura Visa Card For Business might be your ordinary credit card, but it has unique features that its competitors don't. Below are the things that this card offers from Aventura points to valuable insurance coverage.  

#1 A Welcome Offer Of Up To 60,000 Aventura Points 

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The CIBC Aventura Visa Card For Business offers up to 60,000 Aventura points or $1200 in cash value as a welcome gift. To be eligible for this offer, you need to have at least $35,000 individual minimum annual income and get approved by November 1, 2022. 

After approval, you can get the following benefits from the CIBC Aventura Visa Card for Business.

  • 20,000 Aventura Points – a welcome bonus when the first purchase is made
  • 5,000 Aventura points – as additional bonus points
  • 35,000 Aventura Points – if you made at least $35,000 in net purchases throughout the first 12 monthly statement periods
  • A one-time annual fee rebate for you and any additional authorized users added at the time of the application

If you get the total value of the welcome offer (60,000 points), you can redeem it for a flight to Mexico, Alaska, Hawaii, Central America, or the Caribbean. Some airlines may charge additional fees or restrictions when you obtain an airline travel reward.   

#2 Earn Up To 2 Aventura Points 

The CIBC Aventura Visa Card for Business Card offers a higher earn rate regarding its rewards program. Unlike other business cards, it offers up to 2 Aventura points instead of 1. This makes it easier to accumulate and redeem them for exciting rewards, such as using points to settle your credit card balance or contribute to your financial investments. 

Likewise, this credit card allows you to add up to 9 additional cardholders, which maximizes your chances of earning more points and rewards. Refer to the table below and learn how to receive Aventura points from your day-to-day living.

For as little as $1 spent on purchases, you can get points by using this credit card.

  • 2 points per $1 spent on travel purchases made through the CIBC Rewards Centre
  • 1.5 points per $1 spent on gas, transportation (local and suburban transportation, ferries, railways, limousines), and cabs plus transportation services (parking, tolls, and truck rentals)
  • 1 point – on all other purchases

#3 Redeem Points For A Vast Selection Of Shopping, Dining, Or Travel-Related Rewards

There is no reason for you to hold back on buying your basic needs – and even wants. With the CIBC Aventura Visa Card For Business, you can get your money back from purchases by redeeming your points for rewards, offers, and discounts.

You can redeem your Aventura points at any time for the following items: 

  • Merchandise and Gift Cards
  • Travel Rewards

When redeeming Aventura Points, you can pick any flight, time, and date from various airlines. With a minimum of 10,000 points, you can fly with no seat limits or blackout times. 

  • Lifestyle Rewards – from golf experiences to enjoying personal chefs and more 
  • Shop with Points – pay off recent card transactions, such as online purchases.
  • Payment with Points – settle credit card balance, or pay the following financial products: mortgage, loans, line of credit, TFSA, RRSP, or Investor's Edge brokerage account

#4 Car Rental And Accident Insurance

The CIBC Aventura Visa Card for Business offers a variety of insurance coverage that ensures you and your family can travel with peace of mind. Its broad travel insurance includes the following:

  1. Auto Rental Collision/Loss Damage Insurance
  • Expires after more than 48 consecutive days of continuous rental
  • No coverage will be granted if the value of the rental vehicle exceeds the Manufacturer's Suggested Retail Price (MSRP) of $65,000 at a location where the rental car is picked up.
  1. Common Carrier Accident Insurance (up to $500,000)
  • The losses will be compensated within 365 days following the date of a covered accident.
  • Regardless of the number of casualties due to the accident, the maximum compensation to an insured person is just $500,000.

#5 Trip And Flight Insurance

Trip and flight insurance won't leave you hanging in case of trip cancellations, flight delays, or damaged baggage. Check the details below to prepare for any possible problems on your next flight.

  1. Flight Delay And Baggage Insurance (Up To $1000)
  • For delayed flights or missed connections, you will be reimbursed for a maximum of $500 and $100 for ground transportation costs.
  • If you spend money on entertainment (e.g., theatre, sporting event) due to a covered flight delay or missed connection, you will get a maximum refund of $100.
  • You will get reimbursed up to a maximum of $1,000 ($500 per insured person) for your emergency needs during baggage delays and direct physical loss or damage to baggage and personal belongings.
  1. Trip Cancellation/Trip Interruption Insurance (Up To $5,000) 
  • The maximum amount insured for trip cancellation is up to $1,000 per insured person (a maximum of $5,000 per trip).
  • The maximum amount insured per person for trip interruption and trip delay is up to $2,000.

#6 Credit Card Purchase And Optional Insurance

Credit card purchases and optional insurance protect you from unexpected events and financial losses, such as damaged purchases and COVID-19 sickness. Read the details below to determine how these help you during challenging times.

  1. Purchase Security & Extended Warranty Insurance (up to $60,000)
  • Purchase Security ensures the fully-paid purchases for 90 days in case of loss, theft, or damage.
  • Stolen jewelry pieces are reimbursed up to $2,500 – only when your luggage is taken. 
  • Extended Warranty Insurance extends the item's original manufacturer's warranty for up to one additional year.
  1. Optional CIBC Travel Insurance
  2. CIBC Comprehensive Travel Insurance Plan
  • Travel Medical Insurance Coverage (Up to $10 million)
  • Trip Cancellation and Trip Interruption (Up to $50,000)
  • Baggage and Personal Effects Insurance (Up to $2,000)
  • Accidental Death and Dismemberment Insurance (Up to $10,000)
  1. CIBC Travel Medical Insurance — COVID-19 Insurance and Assistance Plan
  • Emergency Treatment of COVID-19 (Up to $1 million)
  • Meals and Accommodation Expenses when tested positive for COVID-19 test (Up to $150 per day to a maximum of $2,100).

#7 CIBC Aventura Travel Assistant

The CIBC Aventura Travel Assistant's tailored expertise makes traveling hassle-free by handling all your travel needs. For flights, its full-service travel agency provides better alternatives for your next destination with no blackout periods and seat restrictions on busy dates.

Like personal assistants, they locate hotels and create personalized packages based on your budget and preferences, from luxurious to occasional – so that you may enjoy your stay to the fullest. 

You can start planning your trip with them by calling 1 888 232-5656, which they are available 24 hours a day, 7 days a week. 

CIBC Aventura Visa Card For Business Pros And Cons

Pros

  • Get a one-time annual fee rebate for primary cardholders and up to 3 additional users.
  • Earn up to 2 Aventura points for every $1 spent on groceries, gas, travel, transportation, and other purchases
  • Use points for travel, shopping, promotions, auctions, credit card bill payments, loans, mortgages, and investments
  • Lower the interest rates from 19.99% to 12.99% (purchases) and 14.50% instead of 21.99% (cash) by paying an additional $60 for the annual fee 
  • Get notified through text, email, or phone with Fraud and Spend Alerts against unusual credit card activities.
  • Have access to a replacement card in an emergency and cash advances of up to $5,000.
  • File a dispute with a few clicks through CIBC Online Banking and CIBC Mobile Banking and report the issue about the transactions you do not recognize.   

Cons

  • A $120 or $180 annual fee and a $50 extra cost for additional credit cards
  • Only the first $80,000 in net annual purchases made on the account are eligible for the 1.5 bonus Aventura Points incentive.
  • If you close your Aventura credit card account voluntarily within 60 days or 12 months of the primary cardholder's passing, your Aventura Points will be forfeited.
  • Primary Cardholders are the only ones who can redeem their points as payments for credit card balances, mortgages, loans, or investments.

CIBC Aventura Visa Card For Business Pricing

The CIBC Aventura Visa Card for Business has two annual fees for choosing from – a $120 or $180 yearly fee. The decision depends if you want to lower your interest rates for a price. You can also add cardholders to your account for $50 each (up to 9 additional cards). You will be given a one-time annual fee rebate upon submitting your application and getting accepted.

Interest and Fees
Annual Fee of $120
Purchase interest rate – 19.99%Cash interest rate (Cash Advances, Balance Transfers, and CIBC Convenience Cheques) – 21.99%
Annual Fee of $180
Purchase interest rate – 12.99%, 15.99% or 18.99%Cash interest rate  (Cash Advances, Balance Transfers, and CIBC Convenience Cheques)  – 14.50%. 17.50% or 21.5%
Additional Credit Card Fee$50
Overlimit fee$29
Interest-Free Grace period21 days
Foreign Currency Conversion Rate2.5%
Minimum Personal Income$35,000

Similar to other travel rewards credit cards, the CIBC Aventura Visa Card For Business offers insurance to the credit card purchases made by its users. As long as the items are paid using the card, they are insured for 90 days against loss, damage, or theft, for which you will be reimbursed. 

In addition, the original manufacturer's warranty of the items is automatically doubled for one additional year

In Summary

The CIBC Aventura Visa Card For Business is an excellent choice for business owners who love giving their employees credit cards to give them incentives or earn more points. For an annual fee of $120, you can get up to 2 Aventura points and up to 60,000 welcome bonus, which you can redeem for airline tickets, merchandise, gift cards, or as bill payments for card balance and investments.  

However, if you are planning on getting a card for business and travel purposes, this card might be for someone else. I recommend the RBC Avion Visa Infinite Business Card. It offers lounge access, airport dining and spa experience, free food deliveries from DoorDash, and savings from Petro-Canada and Hertz – all with an annual fee of only $175

CIBC Aventura Visa Card For Business FAQs

How much does the CIBC Aventura Visa Card For Business cost?

The CIBC Aventura Visa Card For Business costs a $120 annual fee. You can add $60 to the yearly fee to lower the interest rates by $180. For additional credit cards, you can pay an extra fee of $50 each with up to 9 additional cards.

Is the CIBC Aventura Visa Card For Business worth it?

No, the CIBC Aventura Visa Card For Business is not worth it. For the same annual fee of $120, the RBC Avion Visa Business Card offers the same benefits and perks, such as redeeming points for travel, bill payments, gift cards, and merchandise. However, this card is more beneficial than the CIBC since you can save 3¢ per litre on fuel at Petro-Canada and get up to 30% off on car rentals at Hertz. 

It also has similar travel insurance and credit card security features, protecting you from flight delays, trip cancellations, car rental damages, and even stolen credit card purchases.  

Is the CIBC Aventura Visa Card For Business safe?

Yes, the CIBC Aventura Visa Card For Business is safe to use. With this card, you can take advantage of Visa's Zero Liability Policy, which protects you from liability if someone takes your card or personal information. CIBC Fraud and Spend Alerts notify you through text, email, or phone of any unusual credit card activities. These features verify the transactions when they see numerous indicators that a transaction might be fraudulent. 

Does the CIBC Aventura Visa Card For Business have lounge access?

No, the CIBC Aventura Visa Card for Business does not have lounge access. Otherwise, you can apply for the CIBC Aventura Visa Infinite or the CIBC Aventura Visa Infinite Privilege Card to receive complimentary visits to airport lounges worldwide. 

How much are 50,000 Aventura points worth?

With 50,000 Aventura points, you can redeem flights within Canada, the U.S., Central America, and some popular European destinations (e.g., Rome, Paris, Barcelona).

Can you use Aventura Points to pay by credit card?

Yes, you can use your Aventura points to pay the remaining balance on your credit card. Sign in to CIBC Online Banking or CIBC Mobile Banking and select “Payment with Points” to specify how you want to redeem your points. You must redeem at least 4,000 points for a $25 payment, and after payment, it will be reflected in your account within two business days.

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