CIBC announced today that it has signed a long-term agreement to become the exclusive issuer of Costco MasterCard in Canada, expected to start in early 2022. CIBC will also acquire the existing Canadian Costco credit card portfolio from Capital One. Current Capital One Costco MasterCard holders will receive the new CIBC Costco MasterCard automatically. MasterCard will remain the exclusive payment network for the Costco cobranded credit card in Canada. I was hoping AmEx can take over this time, but...
