Ms. Diane Ferri reports

CIBC LAUNCHES CIBC ADAPTA MASTERCARD, THE FIRST CREDIT CARD IN CANADA THAT AUTOMATICALLY ADAPTS TO SPENDING BEHAVIOUR, REWARDING CARDHOLDERS MORE FOR EVERYDAY PURCHASES

Canadian Imperial Bank of Commerce (CIBC) has launched its innovative new, no-annual-fee CIBC Adapta MasterCard, the first credit card in Canada that automatically determines the cardholder's top three spend categories each month based on where they spend the most, and rewards them with 50 per cent more points on those categories.

Offering a flexible rewards system, CIBC Adapta MasterCard cardholders will earn 1.5 points for every $1 spent in their top three of 12 dynamic spend categories and one point for every $1 spent on all other purchases each month.

"Our new CIBC Adapta MasterCard is a differentiator in the market as it delivers true flexibility to cardholders, putting control in their hands to help them realize their ambitions," said Diane Ferri, senior vice-president, day-to-day banking, CIBC. "Adapta is a unique no-annual-fee card, offering flexibility to earn points on all purchases. The first of its kind, it's the only credit card where cardholders earn bonus points on their personal top three spend categories each month, whether it be pet stores, clothing or important everyday essentials like groceries and gas."

The key benefits of the CIBC Adapta MasterCard include:

• The first credit card in Canada that adapts to cardholders' spending behaviour, putting them in control of the categories where they will be rewarded the most;
• A flexible rewards approach where the top three spend categories are automatically determined each month and can change based on a cardholder's spending choices; for example, if a cardholder is spending the most on entertainment, hotels and dining one month and gas, groceries and home improvement next month, they will always earn 50 per cent more Adapta points in their top three spend categories;
• Touch card featuring a unique notch that enables people who are blind or have low vision to distinguish their payment cards from one another using touch;
• A cutting-edge design with vertical orientation and a vibrant red centre and made using recycled plastic;
• Roadside assistance, offered by Dominion Automobile Association;
• Purchase security and extended warranty insurance.

"We're proud to partner with CIBC on the new CIBC Adapta MasterCard credit card, featuring MasterCard's touch card design for enhanced accessibility to ensure all Canadians can navigate payments with ease and confidence," said Diane Miquelon, senior vice-president, financial institutions, MasterCard, Canada. "Combining Adapta's personalized experience with accessibility, this innovative offering empowers Canadians in every transaction."

About Canadian Imperial Bank of Commerce (CIBC)

CIBC is a leading North American financial institution with 14 million personal banking, business, public-sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, in the United States and around the world.