How to Get Cash Back on Your CIBC Credit Card bill

What is CIBC Credit Card?

CIBC Credit Card bills average around $590/month for a typical household. CIBC says payments from a non-CIBC account can take up to 5 business days to update the card balance, schedule well before the due date.

How to Get Cash Back on Your CIBC Credit Card Bill

1. Create your free Neobanc account: sign up at neobanc.com, takes about 2 minutes with instant verification.
2. Add CIBC Credit Card as a payee: search "CIBC Credit Card" in Bills. Banks and Neobanc list it as CIBC Credit Card.
3. Enter your card number: find it on the front of your CIBC card or your monthly statement.
4. Fund the payment by Interac e-Transfer: free, from any Canadian bank account in your name. One-time or recurring.
5. Earn cash back on every payment: 1% to 2% lands in your Neobanc balance. Withdraw it or put it toward next month's bill.

Where to Find Your CIBC Credit Card Number

Check the front of your CIBC card or your monthly statement. Enter it exactly as shown when adding the payee.

Can I Pay CIBC Credit Card With a Credit Card?

No. You can't pay a credit card with another credit card through Neobanc. Credit card bills are funded by Interac e-Transfer from your bank account, which is free. What you gain is the cash back: paying CIBC Credit Card straight from your bank earns nothing, while the same payment routed through Neobanc earns 1% to 2% back. On a typical $590/month statement, that's up to $142 a year for the exact same bill.

The Math on Your CIBC Credit Card Bill

Average $590/month: Neobanc returns $5.90/month at the 1% rate, or $11.80/month on the 2% tier, up to $142 per year for changing how you pay, not what you pay. There is no fee: Interac e-Transfer funding is free.

How do I save the most on my CIBC Credit Card bill each month?

Pay in full, and pay it through Neobanc. Paying by bank transfer or Pre-authorized payments earns nothing; the same payment through Neobanc earns up to $142 a year. CIBC warns missed payments can affect your credit score, raise your interest rate, and put holds on the account. Set a recurring Neobanc payment about a week before the due date: funds take 3 business days to process plus 1 to 3 business days for bill-pay delivery, and you earn on every cycle without running late.