One area of competition is in the credit card points market. I don’t know what percentage that makes up of meaningful Aeroplan business but it does seem like something AC has been courting.

I was annoyed with the latest status extension offer and decided to move some of my spend to a card that gives me 2.3% cash back. That’s roughly equivalent to what I’ve been getting for Aeroplan redemptions when I factor in bonus/multiples on earning points.