Payment Card News

CIBC – AmEx Cards

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Canadians now have the option of getting a VISA and/or an American Express card from the same bank. CIBC, the largest issuer of VISA cards in Canada, announced this week it will issue a suite of American Express credit cards that will include the country’s first nationally available smart card. CIBC will issue the line of AmEx card products under the name ‘entourage’. The three new ‘CIBC entourage’ credit cards include the ‘American Express Smart Card’, ‘Platinum American Express Card’, and the ‘Business American Express Card’. The CIBC/AmEx smart card offers up to one per cent cash back with ‘entourage earnings’, no annual fee, and a 19.5% annual interest rate. Smart card readers are available to cardholders for $50 each. The ‘CIBC entourage Platinum AmEx’ card offers up to two per cent cash back but carries a $299 annual fee and a 19.5% APR. Up to three additional ‘Platinum’ cards are available for $99 each, annually. The ‘CIBC entourage Business American Express Card’ features no annual fee credit card with an interest rate of prime plus four per cent. The business card also offers two billing and statement options including corporate billing and payment, while option two is billed and paid by the individual. For more information visit http://www.cibc.com.

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