Credit Card Update

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Credit Card Update

On December 27, 2013, Aimia confirmed the closing of the purchase transaction between TD, CIBC and Aimia for the purchase by TD of approximately half of the Aeroplan credit card portfolio from CIBC. Read the official announcement

Previous announcements

Frequently Asked Questions

What happens in 2014 as it relates to Aeroplan co-branded credit cards?

Aeroplan Members have a lot to look forward to in 2014. Both TD and CIBC will offer a new suite of Aeroplan co-branded credit cards, providing members with great earning opportunities through the Aeroplan program, plus the same Air Canada benefits on select card products. In the meantime, nothing changes; if you hold an Aeroplan–affiliated credit card from CIBC, you can continue to use and earn Aeroplan Miles on every purchase you make as you do today.

What does this mean for current Aeroplan–affiliated credit cardholders from CIBC?

All CIBC Aerogold cardholders will receive a letter from CIBC in January letting them know if they will be transitioning to TD or if they will remain with CIBC. Following that CIBC communication, transitioning cardholders will receive a communication from TD in January with additional information.

What’s important for you to know is that, for now, nothing will change if you hold an Aeroplan–affiliated credit card from CIBC, you can continue to use your Card and earn Aeroplan Miles on every purchase you make as you do today.

Both CIBC and TD are committed to a smooth transition.

How and when will it be determined if I am staying with CIBC or being transferred to TD?

All CIBC Aerogold cardholders will receive a letter from CIBC in January, letting them know if they are transitioning to TD or if they will remain with CIBC. Following that CIBC communication, transitioning cardholders will receive a communication from TD in January with additional information.

The agreement includes the transition of approximately half of CIBC’s Aerogold credit card portfolio to TD.  The majority of customers that have been transitioned to TD are customers holding only a CIBC Aerogold credit card. There are some customers with broader banking relationships that have been transitioned to TD.

Members can therefore continue to use their current CIBC Aerogold credit card, earning Aeroplan Miles on every purchase they make, as they do today.

Both CIBC and TD are committed to a smooth transition.

What if I don’t like the outcome in terms of which bank will issue my credit card?

Both TD and CIBC will be offering an exciting new suite of Aeroplan co-branded credit cards in 2014, providing members with great earning opportunities through the Aeroplan program, plus the same newly added Air Canada benefits on select card products.
We do not anticipate that members will need to make any change to the card that they will automatically receive when the transition occurs.

In the interim, nothing changes, and no action is required. Members should continue to use their existing CIBC Aerogold credit card, earning miles on every purchase they make as they do today as well as toward status in our exciting new Distinction program.

Can I continue to use my current Aerogold credit card in 2014?

Yes, you can continue to use your current CIBC Aerogold credit card as you do today, which will earn you Aeroplan Miles on every purchase you make.

If I renew my CIBC Aerogold card this year, but transition to a TD Aeroplan co-branded credit card in 2014, will my annual fee apply in 2014 as well?

Rest assured there will be no duplicate annual fee charged when your credit card account transitions to TD.

If I transition to a TD Aeroplan co-branded credit card, what will happen to the miles I’ve accumulated on my CIBC Aerogold card?

All Aeroplan Miles reside in your Aeroplan account and are not impacted by any change to your credit card.

What are some of the features and benefits of the new Aeroplan co-branded credit cards?

Both TD and CIBC will be offering an exciting new suite of Aeroplan co-branded credit cards in 2014, providing members with great earning opportunities through the Aeroplan program, plus the same newly added Air Canada benefits on select card products. These new benefits will give cardholders access to special benefits and priority treatment on Aeroplan flight rewards operated by Air Canada. These are in addition to the benefits that will be available under Aeroplan’s Distinction member recognition program that offers exclusive flight rewards, bonus mile offers and privileges.

Why are you making these changes to your credit cards program providers?

We are pleased to now have both CIBC and TD as our partners. The agreements we reached with two of Canada’s leading banks have allowed us to reinvest back into the Aeroplan program and create an even better program for our members. As a result, Aeroplan Members have a lot to look forward to in 2014.

Both TD and CIBC will offer a new suite of Aeroplan co-branded credit cards, providing members with great earning opportunities through the Aeroplan program, plus the same Air Canada benefits on select card products. In the meantime you can continue to use your existing CIBC Aerogold credit cards, earning Aeroplan Miles on every purchase you make as you do today.

I have a CIBC Aerogold credit card, how can I find out which bank I’m with now?

All CIBC Aerogold cardholders will receive a letter from CIBC in January, letting them know if they are transitioning to TD or if they will remain with CIBC. Following that CIBC communication, transitioning cardholders will receive a communication from TD in January with additional information.

Members can therefore continue to use their current CIBC Aerogold credit card, earning Aeroplan Miles on every purchase they make, as they do today.

Both CIBC and TD are committed to a smooth transition.

My CIBC Aerogold Visa credit card expires soon. Do I need to do anything different?

Your card will be automatically reissued and there is nothing different you need to do. You will receive your replacement card from CIBC and you should activate it with CIBC as you normally would. Then you can use it the same way you use the card you have now.

I have additional authorized users on my CIBC account. Can they continue to use their card?

It’s business as usual for the authorized users on your Account as well. They can continue to make purchases and earn Aeroplan Miles without interruption. You’ll be notified well in advance of any changes.

What type of credit card will I have if and when I transition to TD?

Our new suite of TD Aeroplan Credit Cards will provide great value and convenience. To ensure your credit card continues to meet your needs, TD plans to transition you to a credit card that most closely matches the features and benefits you have today. You will receive communications detailing what this means to you in the future.

With your TD Credit Card, you’ll continue to earn Aeroplan Miles at the same rate.

If my account is transitioned to TD, when will it be transitioned, and do I have to do anything?

The transition of your Account from CIBC to TD will happen automatically and is currently scheduled to occur in mid-2014. In the meantime, CIBC will continue to service your account and you should continue to contact CIBC for any questions you have about your credit card account. We are all committed to a smooth transition and there is no action required on your part at this time. You will be notified well in advance of the specific timing of the transition and any changes that might affect you.

I will be away in mid-2014 when the new TD card is issued. Can TD issue me a card in advance?

You will be notified well in advance of the details of your account transition, including when you can expect to receive your new TD Aeroplan credit card and when you can begin using it.  For now, there is no action required on your part and you can continue to use your CIBC Aerogold card just as you do today.

I will be away for several months in mid-2014 when the new TD card is issued. Will I be able to continue to use my CIBC card?

You will be notified well in advance of the details of your account transition, including when you can expect to receive your new TD Aeroplan credit card, when you can begin using it and when your CIBC card will stop working.  You will be able to contact TD closer to your departure date to address any concerns.