New Aeroplan credit cards from TD and CIBC

If you’re a longtime Aeroplan member, then you probably know that the Aeroplan program has undergone a massive overhaul in the past year (after being bought out by Air Canada). Details of the new program have already been released, but changes to the old program won’t come into effect until November 2020.

At around the same time, Aeroplan’s current line of credit cards will also adopt a different set of fees, features and benefits to align with the new program. If you’re an existing cardholder, these changes will take effect on November 8. You’ll also be able to sign up for the new Aeroplan credit cards from TD and CIBC at this time.

Major changes to TD Aeroplan credit cards

TD Aeroplan cards are set to change over on November 8, 2020. Some of the major changes you can expect to see include fee hikes for some cards, changes to rewards, upgraded travel insurance, more supplementary insurance and additional perks.

Fees

The fees for the TD Aeroplan Visa Infinite and TD Aeroplan Visa Infinite Privilege credit cards have increased, while the TD Aeroplan Visa Platinum and TD Aeroplan Visa Business cards have stayed the same.

Rewards

The rewards for most cards have stayed the same, other than that they are now called points instead of miles. That said, accelerated rewards for drugstore purchases have been removed for all cards. In addition, many cards now offer an accelerated rate of rewards for Air Canada purchases.

Aside from that, the TD Aeroplan Visa Infinite Privilege and the TD Aeroplan Visa Business card will undergo small changes to their reward structures.

• Aeroplan Visa Infinite Privilege. You can expect to see an increase in points for Air Canada purchases and accelerated points for dining and travel purchases.
• Aeroplan Visa Business. There will be an increase in points for Air Canada purchases and accelerated points for dining and business expenses. You’ll also see a decrease in points for gas.

Travel insurance

The main change for travel insurance is that all cards now come with hotel/motel burglary insurance to cover your belongings if they’re stolen out of your room. Another difference is that many types of insurance are now available for up to three other cardholders to use instead of just the primary cardholder. You’ll also be required to book a smaller percentage of your trip on your card to be eligible for many types of insurance (75% down from 100%).

Travel medical coverage stays mostly the same for all cards, except for the TD Aeroplan Visa Infinite Privilege. For this card, travel medical will now be offered for up to 31 days (instead of 22 days). The TD Aeroplan Visa Business card also gets a boost to its trip cancellation and trip interruption insurance.

Other insurance

One of the biggest changes with other forms of insurance is that all cards now come with $1,000 worth of mobile device insurance. This will pay for the costs to replace your phone if it’s lost, broken or stolen within two years from the date you purchase it. Just be aware that this is usually only available for new phone purchases (not refurbished or used).

Another change is similar to travel – where you’ll still be eligible for purchase insurance and extended warranty coverage if only 75% of the item you purchased is paid for on your card (instead of 100%).

Additional perks

You’ll also get a number of additional perks with most TD Aeroplan cards when the cards roll over to match the new program. These include the following with most cards:

• Nexus fee. You’ll get reimbursed for your nexus fee on some cards. This is a program designed to let travellers skip the lines when crossing the border between Canada and the US.
• Emergency travel assistance. It will still be possible to call in to TD when you’re travelling overseas to get help with medical referrals, legal referrals, emergency cash transfers and assistance with replacement tickets and travel documents.
• Preferred pricing. You’ll be able to qualify for preferred pricing on some flights, which means you’ll need to redeem fewer points than Aeroplan members that don’t have an Aeroplan credit card for some flights.
• First bag checked free. You won’t have to pay a checked baggage fee when you or your travel companions fly on any Air Canada flight – even if you haven’t booked it with points.
• Elite status boost. For most cards, you’ll get Status Qualify Miles (SQM) or Status Qualifying Segments (SQS) when you spend a certain amount on your card. This means you can get closer to Elite Status (which comes with a number of travel perks and benefits) every time that you spend money on your card.

Major changes to CIBC Aeroplan credit cards

CIBC’s line of Aeroplan credit cards will also undergo a series of changes when the new Aeroplan program takes effect. At this time, all cards will go from being called CIBC Aero Platinum and Aerogold Visas to being labelled as CIBC Aeroplan Visas.

Fees

The fees for the CIBC Aeroplan Visa Infinite and CIBC Aeroplan Visa Infinite Privilege credit cards will increase, while the CIBC Aeroplan Visa will decrease and the CIBC Visa Business card will stay the same.

Rewards

The rewards for most CIBC Aeroplan cards have stayed the same, though there are some minor changes. Much like TD Aeroplan cards, CIBC cards will no longer offer accelerated rewards for drugstore purchases. There will also be special points bonuses factored in for making Air Canada purchases.

You can also expect to see changes to the points you can earn with CIBC’s most premium cards. These include the CIBC Aeroplan Visa Infinite Privilege and the CIBC Aeroplan Visa Business card.

• Aeroplan Visa Infinite Privilege. There will be an increase in points for Air Canada purchases and accelerated points for dining and travel purchases.
• Aeroplan Visa Business card. Keep your eye out for an increase in points for Air Canada purchases, accelerated points for dining and business expenses and a decrease in points for gas.

Travel insurance

One of the biggest changes to premium cards is that hotel/motel burglary insurance has been added to the benefits. This covers the cost of replacing belongings that are stolen out of your room (up to a certain limit). Another difference is that many types of insurance are now offered to all authorized users and can be used without the primary cardholder in attendance.

Other insurance

One of the biggest changes to this category is the addition of mobile device insurance for the CIBC Aeroplan Visa Infinite and Visa Infinite Privilege cards. This insurance will give you $1,000 to help pay to replace your mobile phone if it’s lost, broken or stolen within two years from the date you purchase it.

Additional perks

CIBC’s new line of Aeroplan cards is well-equipped with a number of exceptional perks. These include the following with certain cards:

• Nexus fee. You’ll get reimbursed US$50 for your nexus fee once every 4 years. Nexus is a program designed to let travellers skip the lines when crossing the border between Canada and the US.
• Preferred pricing. You may be eligible for preferred pricing on some flights if you’re a CIBC Aeroplan cardholder. This will allow you to book flights using fewer points than a normal Aeroplan member might have to use.
• First bag checked free. You won’t have to pay a checked baggage fee when you or up to eight of your travel companions fly on any Air Canada flight. Authorized users will also qualify for this benefit, even if the primary cardholder isn’t in attendance.
• Elite status boost. For most cards, you’ll get Status Qualify Miles (SQM) or Status Qualifying Segments (SQS) when you spend a certain amount on your card. This means you can get closer to Elite Status every time that you make purchases using your card.
• Premium card benefits. You’ll get additional lounge access and other travel perks added onto premium cards like the CIBC Aeroplan Visa Infinite Privilege and the Visa Business Card.

Who’s the winner: TD vs CIBC?

Many of the new changes to TD Aeroplan and CIBC Aeroplan cards are similar and there’s no clear winner between the two providers for this reason. For example, accelerated rewards for drugstore purchases are being rolled back by both TD and CIBC, and fee increases are relatively the same across the board.

In addition, both lines of credit cards have added similar insurance products to each card. These include mobile device insurance and hotel/motel burglary insurance. That said, TD seems to come out on top for its most basic Aeroplan card. This is likely because the fee on the CIBC Aeroplan card has been rolled back to $0 while it costs $89 to get the TD Aeroplan Visa Platinum.

Bottom line

The new Aeroplan program will be launched in November 2020 and with it comes a new line of credit cards from CIBC and TD. Many of the improvements made to these credit cards are similar for both providers so your choice about which one to go with will likely be based on personal preference. Find out more about how the added benefits for both lines of cards compare and choose the card you’re most interested in today.

Frequently asked questions about the Air Canada Aeroplan program

• When will I get my new card if I'm an existing cardholder?

  You should get your new card when your old card expires. You don’t technically need a new card as your benefits will automatically switch over on your old card as of November 8, 2020.

• What happens to my Aeroplan Miles when the program switches over?

  Your Aeroplan Miles will switch over to Aeroplan Points when the program switches over. These points will be redeemed on a one-to-one basis. You can continue to use your card and collect points as usual.

• Will my Aeroplan Points expire under the new program?

  Your Aeroplan Points can expire if you leave your account inactive for 18 months or more under the new program. You can make sure this doesn’t happen by using your Aeroplan membership or Aeroplan credit card to earn points or by redeeming a portion of your points before they’re set to expire.

• What are the major changes to the new Aeroplan credit cards from TD and CIBC?

  Some of the major changes include fee hikes for some cards, changes to rewards, upgraded travel insurance, more supplementary insurance and additional perks. You can find out more about how each card will change by referencing the tables above.

• Can I apply for a new Aeroplan credit card online?

  Yes. You can apply online for the Aeroplan credit card of your choice by going to that card’s site.