CIBC is not issuing costco master card for workpermit residents

Has anyone else experienced this in Ontario?

Costco / CIBC Mastercard apparently is being issued only to Canadian Citizens and Permanent Residents. They are rejecting even Work Permit holders — even if income is good, stable employment, and strong credit history.

Why is this the case in Canada? Doesn’t make sense since many work permit holders are fully employed, paying taxes here, building credit, and long-term residents.

Anyone else facing this or found a workaround / exception?