Originally Posted by
jubberly
Does CIBC offer a banking package that waives the annual fee on a premium card and if they do,does it waive the fee for coapplicants and authorized users?Also,if there is a package,do they have a deal which waives the monthly package fee with a minimum deposit maintained?
TIA
Not sure if anyone responded to your question, but perhaps I can (belatedly) answer this for you.
I have the "Premier Service Account", which at a monthly fee of $28.95, is the most expensive package. However, if you bank and hold some other investments/services (RRSP/mortgage/TFSA ... etc) with CIBC, you get 30% rebate. You will get one primary along with one secondary CC annual fee waived. There are other services which are free also (cheques/bank drafts ...)
Cost overview:
$28.95/month --> $347.40 Annual
Minus discounts:
$8.69/month --> $104.28 Annual
$120 Primary CC annual fee
$50 Secondary CC annual fee
Effective cost of $73.12 annual ($6.09/monthly)
I've compared other account types from CIBC, and for my purposes, this gives me the best value. They have the "Smart Account" which waives the monthly fee for a minimum daily balance of $3000, and "Everyday Chequing" which waives the fee at $2000 daily balance, but for those accounts, you will have to pay the CC annual fees. Take a look at their website for more details, and perhaps you can also check out TDCT for comparison.