In this CIBC Aventura Gold Visa Card review, I’m going to cover everything you need to know. Admittedly, the CIBC Aventura Gold Visa Card doesn’t get much attention. Usually, people focus on the best travel credit cards in Canada or the best credit cards in Canada.
The irony is that CIBC Aventura credit cards are in fact some of the best travel credit cards out there. They may not have the brand appeal that Aeroplan has, but the CIBC Aventura Gold Visa Card comes packed with benefits including a generous welcome bonus, lounge access, and mobile device insurance. Read my CIBC Aventura Gold Visa Card review now for the full details.
The CIBC Aventura Gold Visa Card is often overlooked, but it’s a generous card. The annual fee of $139 is usually waived for the first year, so you can test it out for free. In addition, the welcome bonus is usually worth around 35,000 CIBC Aventura points. Since 1,000 Aventura points are worth $10, the welcome bonus is usually worth $350. That means you’re getting $350 for free as long as you meet the minimum spend requirement.
The other obvious travel benefit is the Visa Airport Companion Program membership and four freeannual passes. The membership and passes have an annual value of $280, so again, you’re getting a lot of value here. Some people may not care about the $50 NEXUS rebate , but there’s no denying the convenience if you go through the trouble of getting approved.
Interestingly enough, the earn rate of 2 points per $1 spent on travel purchased through the CIBC Rewards Centre, 1.5 points per $1 spent at gas stations, grocery stores and drugstores, and 1 point per $1 spent on all other purchases is identical to the CIBC Aventura Visa Infinite which has a significantly higher income requirement compared to the Gold card ($60,000 vs. $15,000)
I should mention that if you have a CIBC Smart Plus Account, the annual fee that comes with the CIBC Aventura Gold is waived.
The CIBC Aventura Gold Visa Card isn’t CIBC’s top-of-the-line travel credit card, but it still comes with a decent amount of insurance.
Generally speaking, the travel insurance included with the CIBC Aventura Gold is decent, but it’s missing a few key things which is why I don’t consider it one of the best credit cards with travel insurance. There’s no trip cancellation and the card only covers you for 15 days if you’re under the age of 65 which may be a deal-breaker for some people. On a positive note, the travel medical insurance covers you up to $5,000,000 which is higher than some other travel credit cards, but it’s unlikely you’d ever need that much insurance.
Your flight delay insurance kicks in after 4 hours which is standard while delayed/lost baggage requires 6 hours before you can make a claim. Rental card and hotel burglary insurance are pretty standard but at least it’s included.
One good thing about the CIBC Aventura Gold travel insurance is that you only need to charge 75% of your travel expenses to your card for your insurance to be valid. The exception is travel medical which you get no matter what.
Mobile device insurance has become quite popular with credit cards, but the CIBC Aventura Gold Visa Cards was one of the first to add it as a benefit. As long as you charge the full amount of your device to your card, you’re insured up to $1,000.
The purchase security insurance covers you from loss, theft, and damage within 90 days of your purchase. As for the included extended protection insurance, your manufacturer’s warranty is doubled, up to one additional year.
CIBC Aventura Rewards is easy to understand and redeem since it takes 1,000 Aventura Points to get $10 in travel. Since the CIBC Aventura Gold earns you 1-2 points per $1 spent, your rate of return works out to be 1-2%.
That being said, you might get better value if you used the Aventura Airline Rewards Chart which is a fixed flight program. For 10,000 to 20,000 points you can claim a Canada or U.S. short-haul flight as long as it has a max base price of $400. Alternatively, a flight to Mexico, Alaska, Hawaii, Central America, and the Caribbean would only cost you 40,000 to 60,000 Aventura points with a max base price of $1,000. Keep in mind that sometimes CIBC has promos where it’ll take you fewer points to make a redemption.
To book your travel, you can go through CIBC Rewards account or you can call CIBC’s full-service travel agency. The benefit of calling in is that you get access to just about anything sold on Expedia or Orbitz that might not be available through the online portal such as tickets to theme parks.
The most similar card is the CIBC Aventura Infinite Visa which usually has an identical sign up bonus, earn rate, annual fee. Heck, even all the benefits are the same except for travel insurance which is better for the Infinite card. If you earn an income over $60,000, then get the Infinite card, but the Gold version is a hella good card.
If you’re looking to earn points as quickly as possible and you’re able to charge a lot to your card in the first few months, you may want to look at the American Express Platinum Business card instead since the welcome is worth between 75,000 – 100,000 points.
When you compare the CIBC Aventura Gold to the other cards on my list of the best travel credit cards in Canada , it really stands its ground. Every card is different, but CIBC Aventura Rewards gives you quite a bit of flexibility with your points.
My CIBC Aventura Gold review is positive. For a credit card that has a low minimum income requirement, it comes packed with benefits. CIBC Aventura Rewards are easy to understand so when you’re ready to make a redemption, you won’t have any problems.
Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. His blog Money We Have is one of Canada’s most trusted sources when it comes to money and travel. You can find him on Twitter:@barrychoi
I want to offer a differing opinion on this card. The real value is in the details of CIBC’s travel rewards program because all of the non-travel rewards are well below 1% in value. If you compare the points you have to cash against the retail value of the merchandise, I was getting returns of 0.7% and below. Travel isn’t much better. Somehow, some flights that require X pts and $Y in taxes/fees on Aeroplan require X pts and 3x or 4x $Y in taxes/fees. Very disappointing.
Cesar Vera on May 15, 2022 at 7:30 PMI just got upgraded from to the Aventura Gold. They haven’t told me if I’m getting a credit limit increase though.
What credit limit does it have? Or does the credit limit depend on the person and credo score?
I currently have a 5000 dollar limit and I always make a minimum payment of 300 to 400 bucks a month or more.
Barry Choi on May 15, 2022 at 7:56 PM
Cesar, Your credit limit would likely carry over from your old card. You could always ask for an increase. Always try to pay the full balance whenever your statement is due. If you pay anything less, you’ll incur some pretty big interest charges.
Cesar Vera on May 15, 2022 at 7:59 PM Thank you Barry Mat on February 10, 2019 at 7:07 AMHi Barry, i currently use the Scotia Infinite Momentum Visa and recieve between $800-$1000 cash back each year. I don’t use any travel points cards. Would you recommend any other supplementary cards for me to sign up for (credit or travel rewards)? The SIM will still be my main card, but want to take advantage of some travel rewards as well. Keep up the great work.
Barry Choi on February 10, 2019 at 8:14 AM
Hi Mat, I think you need to ask yourself a few questions first – Do you enjoy travelling? No point getting a travel card if you don’t like to travel
– Are additional benefits important to you such as travel insurance, lounge access, etc.?
– How comfortable are you with having multiple credit cards? To maximize your points, it’s really about the sign up bonuses – https://www.moneywehave.com/the-best-travel-credit-cards-in-canada/ If you’re earning $800 – $1,000 per year in cash back with the Scotia Infinite Momentum Visa, you’re either spending a lot a year or maximizing your return on the 4% categories. Most travel credit cards only give you a 1-2% base return, but your points can be more valuable with transfer partners. E.g. With the Amex Gold card, the points are worth 1%, but if you transfer to Aeroplan, they can be worth 3-4 X more. Of course, you also need to factor in blackout dates, taxes, and if you Amex is accepted where you travel. If you happen to fly WestJet on a regular basis, the WestJet RBC Visa Infinite card is a great card. I also like the Scotiabank Passport Visa Infinite card since it’s a good all in one travel card. It has a decent earn rate, no forex fees, and 6 annual lounge passes. Those passes alone are worth about $450 alone. To me, it doesn’t make sense to have a premium cash back card AND a premium travel card unless you’re getting one of them for “free” either through your bank or the first year annual fee being waived.
Thanks Barry, we usually travel once a year for 7-10 days and I don’t think we’d take advantage of the lounge access etc…probably makes sense to stick with what we have and maybe get a couple new ones to to take advantage of the sign-up bonus. Do you recommend getting a stand alone air miles or aeroplan card, not connected to a cc?
Barry Choi on February 10, 2019 at 10:07 AM
Mat, I personally think Air Miles is a terrible program. Aeroplan is okay, but their co-branded credit cards aren’t the best e.g. I think the Amex Gold Rewards card where you can transfer your points 1:1 to Aeroplan is better than the TD Aeroplan Visa Infinite card. I always favour taking advantage of sign up bonuses if you can meet the minimum spend. Always go for the ones that you can use in the near future. E.g. if you know you need to fly WestJet soon, get the card since you $250 WestJet dollars, free checked bags, and a companion voucher. Even if you’re not flying a specific airline, signup bonuses are worth it e.g. the BMO World Elite Mastercard gives you $250 in points as a sign up bonus and there’s a current offer where you get a $100 travel credit when you make a minimum travel purchase of $100 within the first six months of cardmembership as long as you apply by the end of March I believe. In other words, it’s always worth monitoring promotions and sign up bonuses.
Aljovin on May 16, 2023 at 3:36 AMHi Barry, Im a CIBC ADVENTURA PLATINUM card holder right now but they are offering me to upgrade to GOLD, Is that a Good offer or what? And does affect my credit limit?
Barry Choi on May 16, 2023 at 6:48 AM
Aljovin, Good is a relative term as in the end, it depends on what you want. The GOld card does give you a higher earn rate, but it also comes with an annual fee of $139, whereas the CIBC Aventura Visa has no annual fee. In theory, if you accept the upgrade, there should be no change to your credit limit. They may even increase it. The point I’m trying to make is that you don’t need to stick with CIBC. If you’re looking for a better credit card, you should shop around.
WALTER ALEX DESOUZA on February 27, 2024 at 2:50 PMHI, My wife intends travelling in the near future. My aventura visa platinum does no longer qualify for airport lounge passes. CIBC has asked me to upgrade to Gold or Infinity. not sure which one is better. Also can my wife use the lounge passes if I am not travelling with her.
Barry Choi on March 2, 2024 at 6:15 PM
Hey Walter, The cards are almost identical. The Aventura Visa Infinite has slightly better benefits. Your wife can only use the lounge passes if you’re travelling with her.
