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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
With any gas purchase or only superstore? Posted via RS Mobile
At Superstore gas stations only. The machine spews out a printed coupon after your gas purchase. Awesome if you shop at Superstore, since you won't have to wait for cash back etc.
Consumers may be faced with reviewing their credit card and travel reward options in the wake of a deal announcement that sees Toronto-Dominion Bank taking over as Aeroplan's customer loyalty program partner.
Credit card reward programs carry risks
Aimia, the Montreal-based company that runs Aeroplan, has pledged that no one will lose points under an arrangement that will see Aeroplan reward points switch from CIBC credit cards to TD credit cards.
CIBC had been purchasing air miles from Aimia for 22 years, then awarding them to customers who use its Aerogold credit card. After CIBC and Aimia failed to agree to new terms on that agreement, TD stepped in with a bid of $100 million up front and a 15 per cent increase in the amount Aimia receives per air mile sold.
Under the terms of its current deal with Aimia, Canadian Imperial Bank of Commerce had the right to match any offer up until Aug. 9, 2013 — a deadline that passed without an offer or rejection from CIBC.
CIBC objects to deal
CIBC is not entirely happy with Aimia’s announcement of a deal with TD and has informed Aimia the TD deal is invalid because it fails to comply with terms of the existing credit card agreement, which expires on Dec. 31, 2013.
"The notice and proposed agreement was structured in a way that nullifies CIBC's right of first refusal and ability to match," CIBC spokesman Kevin Dove said in a statement Monday.
Dove said CIBC may opt to pursue legal action, but in the meantime, it is involved in talks with TD and CIBC over its CIBC Aerogold credit card portfolio.
The goal of the talks is for TD to take over half of the Aeroplan credit card portfolio. CIBC disclosed it is willing to divest itself of credit card only clients, but will try to retain Aerogold members who have a wider banking relationship with CIBC. That deal is expected to be finalized by Aug. 26, but there is no guarantee it will go ahead.
Aerogold owners' choice
Exactly how this will play out for owners of CIBC Aerogold cards remains to be seen. Aimia has guaranteed they will not lose points already accumulated on their cards in any case, but may have to move to a TD card to continue collecting points.
CIBC has the option of moving to an alternate rewards program to retain its customers.
But Barclays Capital analyst John Aiken says the potential sale of Aerogold cards to TD is “a common sense approach.”
“We believe that this should defray some of the retention costs anticipated to be incurred by CIBC as it can focus on retaining the customers it has a more fulsome relationship with,” he said.
“For TD, it alleviates some of the risk that current Aeroplan card holders will move to an alternative platform as it will likely make the transition much more seamless.”
Beginning in January 2014, when the deal with Aimia takes effect, TD plans to offer a suite of Aeroplan Visa credit cards, with the potential to enhance its current travel rewards program.
TD to offer various cards
For TD customers and for any Aeroplan credit card users who make the switch to TD, that will mean choosing from a range of premium and mid-market Aeroplan cards, with a choice of benefits and rates. TD also says it plans a card for U.S. residents and Canadian small business owners.
Aimia also announced it's preparing to make changes to the Aeroplan program, starting in 2014, including the launch of new features with its co-branded credit cards.
"The enhancements we're announcing today are the most significant changes we've made in the Aeroplan program's history," Vince Timpano, Aimia's president and chief executive officer for Canada, announced on June 26.
Among other things, Aimia is launching Distinction — a new recognition program that rewards top-accumulating members with exclusive privileges and cancellation of a policy that sees Aeroplan miles expire after seven years.
Loyalty programs are big business for banks and credit card providers and there is constant jockeying for position in the sector.
Hopefully they combine it with the first class td travel.
Opinions on keeping credit card accounts open or closed. I have a few credit cards that I no longer use but have maintained a $0 balance for the last.. say, year. Should I close those lines or keep them open for whatever reason?
Keep your oldest if not two oldest cards. If they have annual fee, call in and ask them to change it to a no-fee one. This will keep the average age of your accounts older.
Call in and cancel the rest that you won't be touching. Been doing this for the past few years and even after repeated churning of cards, my credit rating is top notch.
Not sure if everyone knows about this deal but if you bank with TD and have a minimal balance of $5,000 in any chequeing account with them you are eligible to get a First Class Visa Infinite Travel Visa. Made the switch from my TD Rebate to it and they give you $200 Travel Dollars. You earn 3 points for every dollar spent.
Not sure if everyone knows about this deal but if you bank with TD and have a minimal balance of $5,000 in any chequeing account with them you are eligible to get a First Class Visa Infinite Travel Visa. Made the switch from my TD Rebate to it and they give you $200 Travel Dollars. You earn 3 points for every dollar spent.
I was debating on that card because I wanted to move away from my MBNA Cash Back card and start using a Travel Card. Long time TD customer but with the $120 fee I decided on the Capital One Aspire for $120 instead. 3 years in a row it was rated the best Travel Card in Canada. $350 signing bonus, and every year you get $100 worth of travel free essentially making the card $20 a year.
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"back at the line to Babych.... LONG SHOT....Potvin had trouble with it....ADAM SHOOTS SCORES!!!!
I was debating on that card because I wanted to move away from my MBNA Cash Back card and start using a Travel Card. Long time TD customer but with the $120 fee I decided on the Capital One Aspire for $120 instead. 3 years in a row it was rated the best Travel Card in Canada. $350 signing bonus, and every year you get $100 worth of travel free essentially making the card $20 a year.
Point redemption for that card isn't the greatest though. One comment in the reviews is, (paraphrasing) "if you have $150 worth of points, you have to redeem a flight that is $150 or less. If your flight is $170, you can't redeem until the next tier". A tier being 15000 points each (I think).
With the TD 1st Class travel card, redemption is more straight forward. You can redeem your points no matter the cost of the flight ticket.
Point redemption for that card isn't the greatest though. One comment in the reviews is, (paraphrasing) "if you have $150 worth of points, you have to redeem a flight that is $150 or less. If your flight is $170, you can't redeem until the next tier". A tier being 15000 points each (I think).
With the TD 1st Class travel card, redemption is more straight forward. You can redeem your points no matter the cost of the flight ticket.
Yup, I read tons of reviews on all the cards before finally deciding. If I was a super heavy spender where I can accumulate flights to Asia once a year like some people I know do I would have gone with the TD or RBC one. However, I'm a pretty avg spender so the $100 a year bonus thus in theory lowering the $120 fee to $20 won me over. Plus the fact that I don't believe the tier system will really bug me that much anyway to be perfectly honest.
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"back at the line to Babych.... LONG SHOT....Potvin had trouble with it....ADAM SHOOTS SCORES!!!!
Not sure if everyone knows about this deal but if you bank with TD and have a minimal balance of $5,000 in any chequeing account with them you are eligible to get a First Class Visa Infinite Travel Visa. Made the switch from my TD Rebate to it and they give you $200 Travel Dollars. You earn 3 points for every dollar spent.
I was debating on that card as well, but I opted for the Gold Elite. I'm nowhere close to being a heavy spender. On the other hand, I do travel once at least every year.
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Quote:
Originally posted by CKMack you'll NEVER understand women
after seeing how the Infinite avion travel points redemption system works i think i'll be switching or at least adding another card after i redeem my travel points
its a great card if your constantly travelling or renting vehicles, but for me going out of country 3-5 times a year and rarely renting a car, the travel rewards [essentially spending $100,000 for 1 round trip europe flight covered including taxes] doesnt really fly with him
ill be looking moreso into a cash back card next i think, probably push my limit up a bit on the Avion before i switch over
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Dank memes cant melt steel beams
Just got my BMO world elite card, there is a promotion on for 30000 reward points for getting the card, then 5000 for your first four months above 1000 bucks (which is easy if you put everything on the card). They also waived my first years fee ($150).
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I recommend either SPG amex or chase marriott visa for Canadians. Points for flights are not worth it anymore IMO, too many restrictions and dumb surcharges/fees/taxes
Chase marriott visa has no foreign transaction fee, a plus if you go down to the usa.
Never had a CC from another source other then my banking institution(TD).
What are some things I should know. IE statements/web login and customer service
Never had a CC from another source other then my banking institution(TD).
What are some things I should know. IE statements/web login and customer service
It's basically the same
My account is with td. I have a td first class and a cibc aeroplan and Amex aeroplan. They mail you the statements, you mail back the money Posted via RS Mobile
Starting to look for a card that is either travel or cashback.
Getting overwhelmed with the amount of cards out there.
When I read "card gives 30,000 points" I don't really know how much value 30,000 points is for that particular CC.
Read AX makes you purchase the flight and pay it off with points? Not sure if this is correct. I'll have to look through some more cards tomorrow.
I was originally using MBNA Cash back card and it was still one of the better Cashback cards with no annual fees out there even though they lowered the % on return earlier this year. However, I found that getting a $50 check every few months wasn't satisfying to me so I recently switched to a Travel Card with annual fee.
Yes, this is only 1 site and their opinion on what's good and what's not. However, I only used it as a starting reference point then individually researched each card from there. Hope it helps.
Side note, been with TD my entire life and if there's one thing I hate about their credit cards is you don't see the transaction online until it actually goes through. Where as every other card I've had, MBNA, Capital One etc as soon as you use it, you'll see it as a pending transaction. All and all it ain't the end of the world by any means but it just always kind of bugged me a little bit.
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"back at the line to Babych.... LONG SHOT....Potvin had trouble with it....ADAM SHOOTS SCORES!!!!
Got the TD First Class Travel Visa Infinite Card yesterday. Preapproved so really only took a few minutes.
Fees were waived.
Might not be the best card but we'll see what it gives over time.
Convenience of it being TD was pretty big closer for me.
Got the TD First Class Travel Visa Infinite Card yesterday. Preapproved so really only took a few minutes.
Fees were waived.
Might not be the best card but we'll see what it gives over time.
Convenience of it being TD was pretty big closer for me.
It isn't a bad choice and if you got the fee waived it makes it a way better choice. The only reason I didn't get it was because I couldn't get the fee waived. Happy travels!
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"back at the line to Babych.... LONG SHOT....Potvin had trouble with it....ADAM SHOOTS SCORES!!!!
i think the TD infinite annual fee is waived if as long as you have the Select Service Account (minimum $5000 balance). its pretty sweet, they even give you bank drafts and a security deposit box for free.
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