aeroplan likely to move from CIBC to TD ... with a few more details

a few weeks ago, i noted that aeroplan was going to partner with TD instead of CIBC. i didn't notice this but aeroplan had posted an FAQ on their website regarding this upcoming change. this can be found here. their official press release can be found here.

it's interesting to read through. some of the highlights:

• though cibc has first right of refusal, it is unlikely that they're going to match TD's offer. so it sounds like the affiliated bank will most likely change after all
• there will be multiple first-year free offerings throughout the year
• there will be three tiers of cards: mid-market (i.e., normal), premium, and enhanced premium (i.e., probable large annual fee). 
• there will be a higher earn rate with new benefits for the cards, although it's not fully described what that would involve. for the enhanced premium cards, there will be an enhanced earning rate as well.
• one wonders if these additional benefits will be like the mid-tier credit cards in america whereby cardholders can get pseudo-elite status. for example, the united mileage plus explorer card with its $95 annual fee gives the cardholder a free checked bag and priority boarding

TD offers the select service account, where if one can keep a minimum $5,000 minimum balance, they receive a whole range of free perks to the account. from their website:

• unlimited transactions (withdrawals, deposits, cheques, interac)
• free cheques
• free small safety deposit box
• free basic US account

what's probably the most relevant to this post is that their select service account offers a premium credit card product with the fee waived. some of their strongest offerings include their first class visa (1.5% return in travel money, excellent insurance offerings) and their gold elite credit card (1% return and complimentary TD deluxe auto club membership). one wonders if their new aeroplan co-branded credit card would be included in this. i will be waiting to find out ...