TD Canada Trust has been selected as the new primary credit card issuer for Aeroplan. This means that TD customers will soon have the option to earn Aeroplan Miles with their Credit Card purchases.
TD offered to pay Aimia (Aeroplan) $100 million up front and 15% of the amount the company receives per Aeroplan mile sold. CIBC had the chance to match that offer but did not.
CIBC had been the main Aeroplan card company for the last 22 years. Current CIBC Aeroplan credit card customers will not lose any of their Aeroplan points – but they will no longer be able to earn new points as of January 1, 2014. [CBC]