If you’re an CIBC Aerogold credit card holder, as I am, then chances are you’ve been watching the news to see what was happening to your card.
Well, wait no more.
Today, Aimia – the company behind Aeroplan – confirmed that a ten-year financial credit card agreement has been reached with both TD Bank Group (TD) and Canadian Imperial Bank of Commerce (CIBC), effective from January 1, 2014.
What does it mean for us cardholders?
A few things:
1. TD will become Aeroplan’s primary financial services partner and credit card issuer, while CIBC will also continue to be an issuer of Aeroplan credit cards. TD will acquire approximately half of the current Aeroplan card portfolio and CIBC will retain the balance, made up of Aeroplan cardholders who have broader banking relationships with CIBC.
2. Expect an enhanced suite of Aeroplan Visa credit cards from both banks to include more earning options and benefits including exclusive Air Canada benefits, and the recently announced Distinction benefits to be launched in January 2014 for all Aeroplan members.
3. Regardless of whether you transition to a new card in the future, all Aeroplan Miles you accumulate through the end of 2013 on your Aerogold card will be deposited into your Aeroplan accounts and are not tied to your current credit card provider. In other words, regardless of whether you switch from CIBC down the road, your Aeroplan miles stay with you.
Have questions about the changes? There’s a great list of answers here: https://new.aeroplan.com/card/
This post was sponsored by Aeroplan. As usual, all opinion is my own.