CIBC considering Aeroplan options
 

CTV NEWS ON CIBC AEROPLAN POTENTIAL SPLIT

"CIBC (TSX:CM) says it has taken steps to create alternative options in case it decides not to renew its Aeroplan credit card agreement with Aimia, which is set to expire at the end of the year.

"While the launch of the alternative card would result in short-term costs for CIBC, we believe it would generate benefit over the longer term for our clients and shareholders," CIBC president and chief executive Gerry McCaughey said during a conference call Thursday"

a shake up would probably be a very good thing.

It certainly goes a long way to explaining Aeroplan's questions in the recent advisors survey...

I earn a lot of my AE points on this card and with spending and the specials they have. If they abandon AE, I will definitely close the card, it would help me to make the switch to UA Miles or BA Executive.

CIBC invested a lot last year giving first year free to shore up their numbers to pressure AP in negotiations. The only high street bank I see that has scope to integrate AP into its card range is Scotia. BMO is tied to AirMiles, RBC already has WJ, BA, AA, CX, TD I think would see itself to big to be pushed around by AP although for the general public TD actually has along with BMO the weakest card selection on the high street.

Yes, that's exactly what I was thinking, too. Although, realistically, Aeroplan would still have to partner with some bank to offer a card, wouldn't they? And what options do they have? I can't see any of the big banks refocusing away from their own travel cards.

I await the future....as I have options. :)

Banks have all figured out they make more money if they control the whole process, CIBC is just a little late plus stuck in long term contract which is now ending.

They don't need Aeroplan, even AC is setting up to do the same thing, at least that's how I read the Altitude thing.

Agreed. My thoughts exactly on the last survey.

Well, as the article pointed out, TD doesnt have much of an appealing strategy at the moment.

But no, I dont think they would need to partner with a bank. Look at President's Choice Financial Services. They partner with CIBC for classic banking services, but they are their own "bank" for credit card purposes. I dont think it is that hard to do any more, although they would have to be aligned with Visa or MC more generally.

I cancelled CIBC yesterday and took a free year on the Amex Gold

I cancelled my CIBC Aerogold last weekend (free 1st year, 15K Aeroplan), funny timing

I cancelled only because I want to churn for next Aerogold 15K free signup again in a few months if it comes back

TD has ExpediaForTD, no need to partner with Aeroplan scam :D

Wow!!!!! Mrs GHT and I better finish off our last 5Ks for this year, cancel our cards and decide on a backup loyalty program.........

After 21 years dropped Aerogold last fall as without status too hard to redeem.

Just got Email offering first year free, 15,000 miles and loan to the limit of my card for 6 months at 1percent.

If CIBC drops aimia then we'll likely drop cibc. In the remote area of Canada we live in AC is really the only option to get out (we could also pay $400 to position for a different program but that stinks too).

For our needs aeroplan is the best program. And since we can't put most of our day-to-day expenses on an amex (groceries is the big one), then we're needing a visa/mastercard that'll earn aeroplan or transfer to aeroplan.

Aeroplan is far from the best program, but its a good fit for us right now.