And the email from LifeMiles today:

"We are excited to announce that we expect to launch new and improved Avianca LifeMiles credit cards in the coming months in the United States. These cards will provide qualifying members the chance to earn miles faster and to receive other benefits, which we currently expect will include:
•Welcome Bonus of up to LM60.000 for purchases made within the first 90 days*
•LM3 for every dollar spent on Avianca purchases
•LM2 for every dollar spent at gas stations and grocery stores
•LM1 for every dollar spent on all other purchases
•Two 50% discounts on award tickets redeemed for travel to Central America or Colombia from the United States
•Free additional bag for travel between the United States and Central America
•No foreign transaction fees
•15% discount on purchases of miles with Multiply Your Miles

Within a few days, your current Avianca LifeMiles U.S. BANK credit card will no longer be active. Please note that any miles you earn through your June statement closing date will be moved to your LifeMiles account and will be available to redeem. You will not lose the miles you´ve earned.

Expect to receive another email from us in the next few months as we finalize the terms and conditions of the new Avianca LifeMiles credit cards with the new participating bank, with more information and an invitation to apply for one of the new cards."

*The exact Welcome Bonus amount will be determined by your historical level of use of the credit card.