In terms of ease of payment, cards can be considered great friends in monthly or everyday purchases, especially for those who use the card as a way of controlling their expenses.
And with the Cibc Smart Visa prepaid card, users can use their card as if it were a savings account, without paying special check fees or monthly fees.
The Cibc prepaid card is rechargeable, meaning the consumer has the power to place exactly the amount they want on their card, without having to go through credit analyzes and other traditional credit card bureaucracies.
Do you want to better understand how the Cibc Smart Visa prepaid card works? See all the information about it now!
Who is the credit card for CIBC Smart Visa Prepaid?
The CIBC Smart Visa prepaid card is ideal for those who want control of their limit in the palm of their hand, which becomes possible with credit top-ups.
The prepaid card is also an excellent option for those who have difficulty increasing their credit score or for people who have a bad name due to default in their payments.
With the prepaid card, proof of annual income is not necessary as it does not have the functionality of the traditional card, where a limit “loan” is made, therefore, in the prepaid modality the user creates their own limit.
Credit card benefits CIBC Smart Visa Prepaid
There are several benefits offered by the CIBC Smart Visa prepaid card, discover some of the advantages that the customer has access to:
- Accumulated points without expiration date: Accumulated points can be exchanged whenever the consumer wants, without any concern about a deadline for using them;
- Visa protection for your card: Visa offers a protection plan to protect against fraud and scams on your prepaid card;
- Unlimited and easy access to your account: Control all your expenses through the app at any time in real time;
- Free annual fee: As Smart Visa is a prepaid card, it does not charge any annual fee;
- Free Withdrawal and Activation Fees: No activation or withdrawal fees are charged to the CIBC customer while using the card;
- Card coverage: Anywhere in the world where the Visa brand is accepted, your Smart Visa card can be used.
Credit card limit
The prepaid card limit is chosen by the cardholder through the top-ups he or she makes, unlike a traditional credit card where it is necessary to undergo an analysis before receiving an initial limit.
CIBC Smart Visa Prepaid: Fees and tariffs
For any card request, it is important to analyze the fees and charges charged, see what you will pay when using the CIBC Smart Visa prepaid card:
- Annual card fee: CIBC customers do not pay an annual fee for using the Smart Visa prepaid card;
- Delay in paying the invoice: As there is no credit limit “loan”, there is no invoice to be paid, which automatically cancels the interest on late fees;
- International Transaction Charge: For international purchases a 2.5% fee will be charged for each transaction made outside of Canada;
- Card interest rates: The prepaid card does not charge fees, which differentiates it from traditional credit or debit cards;
- Card customization fee: To personalize your card, you must pay a fee of US$5.95;
- Fee for withdrawals outside of Canada: Withdrawals made outside of Canada will be charged US$3.50.
How to request?
Requesting the CIBC Smart Visa prepaid card is very easy and hassle-free, check out now what you need to do to request your card:
- Enter the official CIBC banking website;
- Access the prepaid cards section;
- Find the description of the CIBC Smart Visa Prepaid;
- After reading the information click on request card;
- A form will appear for you to enter your personal details;
- Accept the terms and conditions of the contract and submit the information.
Ready! Now your prepaid CIBC Smart Visa will be on its way to your home, ready to be loaded and used for your daily purchases.
Opinion about the card
Prepaid cards are a great help for those who have difficulty obtaining credit in the market. Their functions are similar to those of a traditional card but with the difference in how the limit reaches the consumer.
For those who want to save money and insure their monthly expenses, the prepaid card is an excellent option, after all, the cardholder dictates the limit rules, who also has the advantage of not being able to make installments.
Which at first may seem frustrating, but at the same time it should be seen as a great way to avoid getting stuck in your spending and ending up taking on more debt than you should.
Click the button below to be redirected to the official website responsible for applying for a card CIBC Smart Visa Prepaid.