Transcript: CIBC Pace It™ — What are Installment Plans?

[Music starts to play. A desk with a calendar animates in on January with three days in the month marked with a red ‘X’.]

We understand that your spending can vary from month to month, particularly when you have large planned or unexpected expenses. 

[Laptop animates in beside the calendar on the desk. A sofa with a tool box animates in. Hardwood planks animate in.  Text heading ‘What is an Installation Payment?’ animates in]

[Camera zooms out. Different purchases including a shopping bag and coffee cup animate in and out as the calendar changes months. Once the calendar reaches November, the camera pans right to show the washing machine.]

Whether you’re doing a home renovation, or an appliance breaks down, CIBC Pace ItTM brings flexibility into your life in a responsible, simple way, by letting you manage the payment of the big things that matter, at a pace that better fits your lifestyle.  

[Washing machine starts to leak. Water fills the screen and transitions to next screen.]

[For-sale washing machines animate in, with a red price tag saying ‘$2100’.]

CIBC Pace ItTM is available on most CIBC credit cards, and gives you the choice to pay for a large eligible purchase with an Installment Plan. 

[Scene transitions to green background. Different CIBC credit cards animate in one at a time from Dividend Visa Infinite, Aventura Visa Infinite, and Aeroplan Visa Infinite.]

Typically you would pay 20.99% on credit card purchases you don’t pay off right away.

[Camera focuses on CIBC Dividend card as others animate out. Price tag pops up from behind card with 20.99% text animated in.]

Now you have another option. With CIBC Pace ItTM , you can convert that larger purchase into an Installment Plan.  This will allow you to benefit from a lower interest rate, and to  spread payments over a fixed term. 

[Background transitions to red and text and credit card animate out.]

[Text animates in along with CIBC Pace It buttons. Text shows payment amounts and fixed terms of ‘6 months’, ‘12 months’, ’24 months’.]

You can convert eligible purchases into Installment Plans without needing any additional credit or credit approval, all while continuing to enjoy the benefits your CIBC credit card offers, such as rewards or insurance! 

[Scene transitions to blue background and ‘Eligible for Installments’ screen animates in.]

[Place graphic flies by and switches to money bags with shield graphic over top to depict insurance.]

To see which purchases you have made qualify for an Installment Plan, just sign in to your online banking or mobile app.

[Hand holding mobile phone slides in showing the CIBC mobile log in page on the screen.]

First select the purchase you would like to convert into an Installment Plan, as marked with an “Eligible for Installments” indicator

[Account screen loads showing Visa credit card account selected. Account summary screen then loads.]

[Transactions tab is selected and loads. User scrolls through transaction list, showing the transactions eligible for installments.]

Next you will see the different terms and interest rate options available - including the associated Monthly Payment due – as well as the One Time Installment Fee, if applicable. You can select the option that works best for you.

[User selects the Home Appliance store purchase eligible for installments and selects ‘Eligible for Installments’.]

[User switches between the different plans, showing the payment calculations for each, before settling on the 6 month plan.]

Lastly, ensure you review the Terms & Conditions and confirm your Installment Plan setup by selecting “Confirm”. This may take 2 to 3 business days to process.

[Description boxes animates out and user selects the Terms and Conditions box before selecting Confirm. Confirmation page loads and user selects Done.]

[Transaction Hub page loads with the purchase show converted to installment flag for that session and client selects Summary to load the Account Summary page again, and scrolls to the bottom.]

[Client selects CIBC Pace It Installment Plans to arrive at My Plans page showing that plan is processing.]

[Plan finishes processing. User selects current plan to view its details. Plan details page loads.]

So, whether it’s that large purchase you’ve been planning for, or something unexpected, visit cibc.com, to see if CIBC Pace ItTM is right for you.

[Desk covered in papers slides in, pages from a note book show cost of various items. Tablet with the URL ‘www.cibc.com’ typed in the search engine animates in.]

[Background animates to white showing the CIBC logo. Trademarks for CIBC logo appear along with Visa, The Contactless Indicator, Aeroplan and Air Canada trademarks.]