Which card is better for groceries, CIBC Dividend Visa or Preferred Visa?

The CIBC Dividend Visa earns 0.5% on groceries, while the Preferred Visa earns 1%. The better choice depends on your grocery spending and the specific merchants you shop at.

Which card is better for international purchases?

The CIBC Dividend Visa has a 2.5% foreign transaction fee, while the Preferred Visa has no foreign transaction fee. The card with no FX fee is better for international purchases.

CIBC Dividend Visa vs Preferred Visa — Which Is Better? | Churnr

Header Quick Take Value Earn Rates Merchants Wallet Bonus FX Benefits Eligibility Perks Downgrade Verdict

Preferred Visa edges ahead by $134/yr

Preferred Visa earns $64 more on groceries
Preferred Visa earns $21 more on shopping
Saves $30/yr in foreign transaction fees

Groceries: +$64Shopping: +$21Travel: +$12

CIBC Dividend Visa: $30/yr in foreign transaction fees

Showing Year 1 analysis

Dollar Value

$213

/first year

0.5% effective$18/mo

vs 1% no-fee card: −$206

Annual rewards earned+$238

Welcome bonus+$5

FX costs−$30

Annual fee−$0

Winner

$347

/first year

0.8% effective$29/mo

vs 1% no-fee card: −$72

Annual rewards earned+$347

FX costsNo FX fee

Annual fee−$0

Best for your spendingPreferred Visa—$347Year 1 value

+$134 more than CIBC Dividend Visa

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The Bottom Line

Preferred Visa edges ahead by $134/yr

Preferred Visa earns $64 more on groceries
Preferred Visa earns $21 more on shopping
Saves $30/yr in foreign transaction fees

Groceries: +$64Shopping: +$21Travel: +$12

Showing Year 1 analysis

Preferred Visa wins in both Year 1 and Year 2+ — consistent long-term value.

Data Sources

Issuer terms & conditions (verified Feb 2026)

Merchant MCC verification (239 merchants)

Insurance certificates (PDF review)

Reward program documentation

User-reported acceptance data

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