Evolving Rewards: My Journey from Cash Back to Travel Perks

Discontinued - CIBC FirstCaribbean Cash Back Visa

Note: This card was discontinued by CIBC FirstCaribbean in 2022. The original product page is no longer available.

About five years ago, or maybe even longer, I found an interesting offer from CIBC FirstCaribbean. I was pre-approved for a Cash Back credit card with no annual fee. Before that, I didn't really use credit cards. I liked to pay with cash and avoid borrowing money for everyday expenses. But the thought of getting 1% Cash Back without having to pay annual fees caught my attention.

This was the beginning of my journey into the world of credit—a journey that turned out to be key in shaping my credit history. The card came with a starter limit of BBD 1,000. As I got into the habit of paying off my credit card on time, treating it more like a debit card, my credit limit gradually increased. This disciplined approach helped me make the most of the bank’s money and built credit history.

Then, in 2022, CIBC FirstCaribbean decided to phase out the Cash Back cards with no annual fees. Those of us renewing or replacing our cards were switched to the Silver Visa, a clear sign of the bank shifting its offerings. This change made me think about the possibilities for similar financial products in the market.

Transitioning to the Silver Visa: A Mixed Experience

CIBC First Caribbean - Silver Visa

Note: As of October 2025, this card is no longer available from CIBC Caribbean (formerly CIBC FirstCaribbean) and has been replaced by the CIBC Caribbean JetBlue Card. The Silver Visa appears to have been phased out gradually over the past several months.

When CIBC FirstCaribbean shifted our cards from Cash Back to Travel Rewards in the latter stages of COVID-19, skepticism was my initial reaction. The timing felt off—with travel restrictions still in place, a travel-focused card didn't seem particularly useful. Yet, the card had no annual fee, so I decided to keep it.

As time passed, I came to see the Silver Visa’s relatively low credit limit as a double-edged sword. On the one hand, it offered an added layer of security for online shopping. Before, my bank account felt vulnerable when linked directly to online transactions. Now, using the credit card as a buffer, I felt relaxed when making purchases on new websites.

However, there are two sides to this coin:

1. Credit Limit Challenges:

   • Scenario: The need for a large purchase - like an urgent refrigerator replacement.

   • Personal Experience: Faced with this situation, the card's limit was too low, requiring the use of another card with a higher limit.

   • Workaround: Pre-funding the card on the day of the purchase helps overcome this limitation, making larger purchases feasible.

2. Travel Rewards – A Mixed Bag:

   • Flights: While using miles for European destinations, I found that booking directly with airlines tends to be more cost-effective.

   • Hotels: In contrast, using miles for hotel bookings proved beneficial. Saving about 20% on a hotel stay last year highlighted the card's value in this area.

Silver Visa: At a Glance

After using the Silver Visa for some time, here's my summary of what it offers, and how you might utilize it:

Score Explanations

Annual Fee [10/10]: The lack of an annual fee is a standout feature that translates to direct cost savings and broadens the card's appeal to a diverse user base. It's one of the key reasons the CIBC FirstCaribbean Silver Visa is an accessible financial tool.

Travel Rewards [6/10]: My personal experience with the card's travel rewards has been mixed. While it offered some discounts on hotel bookings, I found that purchasing airline tickets directly from the airlines was consistently more economical than using the rewards/miles I had accrued.

Credit Building [8/10]: As I've noted before, the CIBC FirstCaribbean Silver Visa stands out as an effective option for building a credit history. It provides a straightforward path to create a financial track record, which can be invaluable when the need arises to secure a loan for more significant purchases. For more insights into how credit history is assessed, visit EveryData.

User Experience [9/10]: The CIBC Mobile app enhances the user experience significantly. Whether it's topping up the card for a purchase or managing security settings like blocking the card for online use, the app's interface is intuitive and user-friendly, making managing your finances with this card quite effortless.

Explore and Share: Your Journey with No Annual Fee Cards

The Silver Visa from CIBC FirstCaribbean offers a unique blend of benefits and challenges. It excels in online transaction security and can provide savings on hotel bookings, but it also has limitations in terms of credit limit and the varying value of travel rewards.

How Does the Silver Visa Compare?

Curious to see how it stacks up against other credit cards? Discover your ideal match with our Credit Card Comparison tool, perfect for evaluating options based on:

• Cash back cards - Search for "cash back" on our comparison page
• No Annual Fee cards - Filter for cards with no annual fees
• Travel rewards cards - Look for travel-focused rewards

Our tool simplifies the comparison process, allowing you to assess features and rewards across a diverse range of cards, helping you find the one that aligns best with your financial needs.

We Want to Hear Your Stories

Have you used the CIBC FirstCaribbean Silver Visa or other no annual fee cards? Your experiences, tips, and insights are invaluable to our community. Sharing your journey helps others navigate their credit card choices more effectively.

Don't hesitate to share your story, offer advice, or pose questions in the comments below. Let's deepen our understanding together and assist each other in making more informed financial decisions.