Expenses - We do not charge any fees. That means no late payment fees, no early repayment penalties, no annual fees and no account opening or closing fees.

Interests - However, your financing plan may be subject to interest, which is calculated according to the amount of your purchase and where you store. Our advertised interest rates won't change, and all terms and conditions are clearly set out at the outset, so you'll always know exactly what to expect.

Yes, you can pay the balance of your loan at any time by logging directly into your your account. No penalty will be imposed.

Expenses - We do not charge any fees. That means no late payment fees, no early repayment penalties, no annual fees and no account opening or closing fees.

Interests - However, your financing plan may be subject to interest, which is calculated according to the amount of your purchase and where you store. Our advertised interest rates won't change, and all terms and conditions are clearly set out at the outset, so you'll always know exactly what to expect.

Yes, you can pay off the balance of your loan at any time by calling customer support at 1-888-689-9876.. No penalty will be imposed.

To qualify for an installment plan, your purchase must meet the following criteria:

• A purchase of $100 or more.
• A purchase made with an eligible CIBC credit card.
• A purchase made from an account in good standing. Secured, mortgaged or guaranteed accounts are not eligible.
• Transactions such as Payment Protector insurance interest, fees or premiums, cash advances, and pre-authorized debit transactions are not eligible for CIBC PaceIt Installment Plans.
• Your balance, including pending transactions, must be less than 90% of your credit limit.

Additional criteria for requesting an installment plan after the purchase has been charged to your account:

• The purchase must be recorded in the current statement period and not yet appear on a monthly statement. A purchase recorded on the last day of the statement period or in a previous statement is not eligible.
• The request for an installment plan must be made by the primary cardholder.

Purchases eligible for installment plans will be marked “Eligible for installment plan” in mobile and online banking.

Additional criteria for requesting an installment plan at the time of payment at participating retailers :

• Instalment plan requests must be made by the primary cardholder or authorized user making the purchase.
• The installment plan request must be made during the online payment procedure on the participating retailer's website.
• Participating retailers must activate installment plans as a payment option.

Here's an example of a less common case where a transaction would be ineligible:

• If you make a purchase of $1,000 and make a payment of $200 on your credit card account, you won't be able to create an installment plan on the $1,000 purchase, because your applicable purchase balance is $800.

Once you have opted for an installment plan, it may take 2 to 3 business days before you see the information.

There are several ways to find information about your installment plan.

^CIBC Mobile Banking® :

• Log in and select your credit card
• From the Summary tab, go to “More options”, then select “CIBC PaceIt® ”.

CIBC Online Banking®:

• Log in and select your credit card
• Click on the “Manage my map” button and select “CIBC PaceIt® ”

This information will also appear on your monthly credit card statement. Find out more about the monthly credit card statement.

If you pay more than the amount due, the excess amount is applied to unbilled purchases and plan payments not yet due at that time.

To find out how we apply your payment, see the “Payment Application” section of the CIBC Cardholder Agreement (PDF, 230 kb)A new window will open. .

For the CIBC ^{Costco®† Mastercard®} business card, see the cibc sme credit card agreement(personal liability) (PDF, 135 KB)A new window will open.