What You Need to Know About Changes to the Costco Mastercard
On March 4, 2022, CIBC became the exclusive issuer of Costco credit cards in Canada and acquired the existing Canadian Capital One Costco Mastercard® portfolio. As Capital One Canada is no longer the owner of these accounts, please reach out to CIBC directly for all inquiries including questions about the card or bill payments.
Please read the following information for more details on these changes. If you have further questions about your new credit card or the transfer of your account to CIBC, please visit cibc.com/costcobenefits.
About Making Payments to Your Account
Your account, including any outstanding balance, has been transferred to CIBC. As of March 4, 2022, interest continues to accrue on your outstanding balance with CIBC, as set out on the CIBC Summary of Rates and Fees mailed to you.
If you haven't already, you'll need to change your bill payment/payee information as soon as possible. If you have any questions or concerns regarding your bill payment, visit http://www.cibc.com/updatebillpayment or contact CIBC at 1-866-346-2999.
About Cash Back Rewards
Any past coupons issued by Capital One that have not yet been redeemed and have not yet expired can still be used at any Canadian Costco warehouse.
About Your Statements
Capital One Costco Mastercard statements are no longer available through Capital One as of March 3, 2022.
About Online Servicing for Your Account
Access to your Capital One online banking account and the Capital One Canada mobile app ended on March 3, 2022.
If you have other credit cards with Capital One, you can continue accessing your account as you regularly do; however, your Capital One Costco Mastercard account is no longer accessible online through Capital One as of March 4, 2022.
What to Know About the Transfer of Your Personal Information to CIBC
For eligible Capital One Costco Mastercard customers, your personal information was transferred to CIBC based on the agreement between Capital One and CIBC.
Please be assured that privacy is important to us. Capital One takes all reasonable measures to protect data, as we use procedures and practices appropriate to the sensitivity of personal information to protect against loss, theft and unauthorized access.
To understand how we manage personal information, we encourage you to review our Privacy Policy on our website.
What to Know About Certain Accounts Not Being Transferred to CIBC
Some Capital One Costco Mastercard accounts weren’t transferred to CIBC due to the account status. If your account wasn’t transferred and you have a balance owing, you’ll receive statements by mail from Capital One – not CIBC. You’re responsible for any outstanding balance on the account, and you can continue to make payments as you do today. If you have questions, please call Capital One at 1-800-481-3239.
Once your account was transferred to CIBC on March 4, 2022, CIBC became the sole owner of your account. At that time, the terms and conditions of your Capital One Costco Mastercard ceased to apply and your account will be subject to the terms and conditions of your CIBC Costco Mastercard, as provided by CIBC. Capital One shall have no responsibility, obligation, or liability whatsoever with respect to any CIBC Costco Mastercard account, the CIBC Costco Mastercard terms, their interpretation, delivery or implementation. If your Capital One Costco Mastercard account didn’t transfer to CIBC, it will remain the property of Capital One and will continue to be subject to the Capital One Costco Mastercard terms then in effect. Nothing in this notice constitutes a partnership or joint venture between Capital One and CIBC, and neither party is liable for any representation, act or omission of the other party