Understanding Purchase Interest with CIBC: Options for Online Banking, Mobile App, and Customer Service

The Canadian Imperial Bank of Commerce (CIBC), one of Canada's top five banks, provides several services that are designed to fulfill the varied needs of its customers. One such service is the Purchase Interest option. This article will tell you all about purchase interest and the different ways you can access and manage it using CIBC's online banking, mobile app, and customer service.

What is Purchase Interest with CIBC?

Purchase Interest is an option offered by the credit card services provided at CIBC. It indicates the amount of interest you are required to pay on purchases made with your CIBC credit card. Calculated annually, it reflects how the cost of borrowing for your purchases is compounded over the course of a year.

Accessing Purchase Interest through CIBC's Online Banking

Technology has brought significant changes to the banking sector, one of which is the ability to handle almost any banking transaction at your comfort from your computer. CIBC online banking lets you review your purchase interest at any time, from anywhere.

• Log into your CIBC account.
• Click on the tab for credit card services.
• You will find a section labeled as 'Purchase Interest.'
• You can view the accumulated interest here and also other related details.

Managing Purchase Interest through CIBC's Mobile App

The CIBC Mobile Banking App, designed with a user-friendly interface, offers another convenient way to review your purchase interest. It is compatible with both Android and iOS devices and can be downloaded from their respective app stores. Here's how you can use the app to monitor your purchase interest:

• After installation, open the app and input your login details.
• Tap on the 'credit card services' tab.
• Inside, you will find your 'Purchase Interest' details. Besides reviewing the accumulated interest, you can also pay your monthly interest from here.

Learning about Purchase Interest through CIBC's Customer Service

For those who prefer a more personalized experience or do not have access to online facilities, CIBC's customer service can be a great asset. The representatives can provide detailed explanations and assist you in managing your purchase interests. This can be done either through a phone call or by visiting a CIBC branch if you are comfortable with direct interaction.

• Dial the customer service number and select the option for credit card services.
• A representative will guide you through the details of your purchase interest and any other queries you may have.

In conclusion, CIBC provides clear, accessible ways to manage purchase interest. Whether it's online, through an app, or personal interaction with a representative, understanding and managing your purchase interest has never been easier.

The Choice is Yours

Whether you find convenience in accessing your banking details online, are always on the go with your mobile device, or prefer personalized interaction – CIBC has an option for you. Having an understanding of Purchase Interest can better prepare you for managing your credit card expenses and ultimately, as CIBC believes, help you for what matters.