New CIBC Aventura Credit Card Benefits
As travel credit card competition is heating up, CIBC has refreshed its Aventura proprietary travel rewards points credit cards. These new benefits will kick in starting Oct 15, 2018. Although most of these benefits apply to both CIBC Aventura Visa Infinite and CIBC Aventura Visa Gold credit cards, the CIBC Aventura Visa Infinite is the better one as Aventura Gold is missing some insurance benefits. Both have a $120 annual fee.
New benefits that will apply:
- Priority Pass lounge membership with 4 free passes per year
- NEXUS application fee rebate every 5 years
- Enhanced trip cancellation insurance, hotel burglary insurance
- Mobile Device Insurance
I haven’t seen a feature like the NEXUS border entry application fee rebate in Canada before. You will get free lounge entrances with many other Canadian travel credit cards, but not for only a $120 annual fee. CIBC Aventura premium credit cards are definitely miles ahead, giving more benefits for only a $120 annual fee.
The CIBC Aventura Visa Infinite Credit Card could have been a perfect travel credit card, but it has its shortcomings. It does not offer zero foreign currency transaction fee (it charges 2.5% on foreign currency transactions) and its rewards structure is very poor.
The earn rate is proprietary 1.5 points at gas, grocery, and pharmacy and 1 point at everything else. So basically you are earning 1 to 1.5 percent, which is a very low earn rate.
CIBC Aventura Visa Credit Cards should not be your primary credit cards for everyday spending, but they’re definitely worth adding to your credit card portfolio for the features and benefits they’re offering.
I talk more about CIBC Aventura credit cards in the following video.