TORONTO , Sept. 12, 2019 /CNW/ – CIBC (CM) (CM) today became the first major Canadian bank to offer a credit card feature that allows clients to convert purchases of $250 or more into installment plans, spreading out payments over a fixed term at a lower annual interest rate. Available on most CIBC personal credit cards, CIBC Pace It offers clients the flexibility of choosing different payment terms and rates while continuing to enjoy all the benefits of their current card, simply by converting a purchase amount to an installment plan online or in app. “We understand that spending can vary from month-to-month, particularly when you have large or unplanned purchases.

source https://finance.yahoo.com/news/feature-cibc-offers-lower-interest-100000110.html?.tsrc=rss