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[ANALYSIS] CIBC Aeroplan

Aeroplan signed a new deal with TD, which comes into effect on January 1st, 2014. CIBC is suppose to be able to retain their Aeroplan credit cards, but it is unclear for now long. Since we do not know how much longer CIBC will be a partner with Aeroplan, if you want to take advantage of one more sign up bonus, now is your chance.

Below are the highlights of the different CIBC Aeroplan credit cards:

CIBC Aerogold Visa Infinite Card

CIBC Aerogold Visa Infinite

  • $120 annual fee
  • Earn 15,000 bonus points upon first purchase
  • Earn 3 points for every $1 spent at select CIBC Bonus Rewards establishments
  • Earn 2 points per $1 spent at CIBC bonus rewards restaurants, hotels, inns, spas, and retailers
  • Earn 1.5 point for every $1 spent at gas, grocery, drug store and Fairmont Hotels & Resorts worldwide (available on your first $80,000 in total annual account spending)
  • Earn 1 point for every $1 on all other purchases
  • CIBC guarantees that you will not lose your Aeroplan Miles due to 12 months of account inactivity
  • Personal income $60,000 minimum, household income $100,000 minimum

CIBC Aerogold Visa Card

CIBC Aerogold Visa

  • $120 annual fee
  • Earn 15,000 bonus points upon first purchase
  • Earn 1.5 points for every $1 spent at gas, grocery and drug stores
  • Earn 1 point for every $1 on all other purchases
  • Minimum household income of $15,000

There is also the CIBC Aero Classic Visa Card, but the sign up bonus is not significant enough to be worth signing up for it, especially with the $29 annual fee. You are better off signing up for an entirely different credit card with a better rate of return.

In terms of the CIBC Aerogold Visa Infinite Card and CIBC Aerogold Visa Card, the Infinite card is the better choice if you can qualify for it since it has the same annual fee. However, the key here is the sign up bonus. You are essentially paying $120 for 15,000. The 30,000 sign up bonus with AMEX Aeroplus might be a better deal with the annual fee waived, but if you can make use of the 15,000 sign up bonus with CIBC, then you can consider it. Otherwise, I would have liked the annual fee to be continually waived to remain competitive.

After December 31, 2013, TD should be coming out with some Aeroplan linked credit cards of their own, so you can always wait for those to show up before deciding what to do. There is a chance that CIBC will only honour existing cardholders and discontinue their Aerogold card for new customers. Either way, it will be interesting to see what will happen next.

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