CIBC Aeroplan Visa Infinite Privilege is back offering a 50k sign-up bonus. That's the good news. I have the TD version of the card and basically want to play ping pong between the two each year to get points plus zone 2 boarding. Those two features make it worth the $399 annual fee.

However, there's a catch with this new T&C:
1 You are eligible for this offer only if you apply and are approved for your first CIBC credit card. If you are a current or former CIBC cardholder, we may approve your application but you will not be eligible for the offer.

That's new to me. Once in a lifetime bonus on a CIBC card. And not just that, sounds like if you've had any CIBC card (which I have) you won't be eligible. That really sucks.