Originally Posted by
KatCanuck
CIBC Aerogold is my longest-held CC.... but I don't like the idea of being sold to TD, and losing out on bonus points and FYF. How much does it damage my credit rating to cancel my longest-held card? And TD won't care that you just cancelled to avoid transfer, and they'll let you apply right away for the TD card? I assume you can't re-apply immediately for the new CIBC offer.
Originally Posted by
teriyaki
If you're concerned. There is always an option to convert your aerogold into a no-fee card to keep the account history intact.
No. CIBC will not convert. It will be a new application. What I would do, and what I actually did (since I do not work for TD hehe) is make an application for the new CIBC Aerogold Infinite with FYF and 20000 AP miles. If I were KatCanuck I would not waste an application for a no-fee card when the Aerogold Infinite is FYF. And I would prefer the CICB with 20000 miles to the TD.
CIBC told me that cancelling now would not avoid the transfer, which is already done, and TD is very well aware of that.
For one, when the unsollicited TD will arrive, I will just cancel. Anyway I am a RBC client.