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Aimia Inc. is poised to enter a new era in 2014 with TD Bank as its new partner and long-standing ally CIBC both offering credit cards linked to Aimia's Aeroplan rewards.
The transfer of more than 500,000 Aeroplan-branded credit cardholders to TD Bank Group from Canadian Imperial Bank of Commerce by Jan. 1 will be "seamless," the CEO of TD Bank Group said Monday.
TD Bank Group says talks are continuing with Aimia Inc. and Canadian Imperial Bank of Commerce regarding the possible acquisition of part of the existing CIBC Aeroplan credit card portfolio.
Loyalty credit card customers could soon find themselves being aggressively wooed if a proposed deal to allow both TD and CIBC to offer Aeroplan rewards cards doesn't succeed.
CIBC says it is willing to let TD Bank become the primary credit card issuer for the Aeroplan loyalty rewards program, as long as it's allowed to keep half of the current Aerogold customers.