Originally Posted by
peano
Same here. I can't believe TD requires a $200k income for the "Privilege" card. My first year free CIBC Infinite just added the same benefits - priority boarding the only one I care about.
Thanks CIBC
Im in disbelief as well. I think a better mark is a net worth of an individual. I don't even have the income required, but I control this aspect by choice. No way I'm going to pay extra taxes just to qualify for a cc.
Originally Posted by
Symmetre
I, for one, am not surprised the offers have been less than stellar.
For the life of me I can't understand why TD invested so much time and energy (and no doubt money too) in order to buy a list of Visa cardholders alone. In the end, CIBC keeps all of the most profitable customers (i.e. the ones that have mortgages and long-term investments beyond their credit card products) while TD gets only the comparatively unprofitable bottom feeders (card-only customers, the majority of which probably churn cards like crazy just to get the sign-up bonuses. See hundreds of other threads on this very topic).
I think the offers from TD, CIBC and other banks looking to grab market share would have been a LOT juicier had TD managed to capture the entire Aerogold file, and not just the card churners who have no other business with CIBC. But that's all they got, and there is a limit to how much any bank will spend to target these less-profitable clients. The offers won't be anywhere near as enticing as many people seem to hope.
Sounds like CIBC was in the drivers seat judging by TDs payoffs. Cost a mint just to be part if the game. I'm surprised as this was not my initial gut instinct.