Originally Posted by
The Lev
If CIBC can continue to issue cards to "new" credit card customers, I'd have to agree with you. If however CIBC can't issue any new cards and only retains its existing customer base, then they've lost a key driver of profit growth for their retail bank.
Notwithstanding the current promo, I can't imagine that TD paid all of that money to still have CIBC as a competitor for "new" business.
You must not be reading any of the posts including the title of this thread or OP. True, it is hard to "imagine" why TD made this transaction but that is exactly what CIBC retained the right to do, compete with the half of "old" card holders and compete for the "new" card applicants. Stop imagining, it is a fact. Read the "old" press releases by all parties.