If you applied for a second CIBC or TD Aeroplan Visa credit card, you could become part of a new class action.
A nationwide class-action lawsuit was filed against Aeroplan Inc., TD Bank, and CIBC for allegedly rescinding credit card points.
Canadian law firm Consumer Law Group (CLG) is accusing the companies of “clawing back” Welcome Bonus Points given to Aeroplan account holders who had signed up for a second TD or CIBC Aeroplan Visa credit card.
According to the class action notice, 17,000 Aeroplan account holders were affected after they were notified of these changes in October 2024, almost a year after the sign-up period. CLG also claims that TD and CIBC failed to verify whether or not account holders already had Aeroplan credit cards.
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This condition would have made them ineligible to receive the Welcome Bonus Points when they applied for another card. As a result, account holders allegedly lost out on at least 10,000 Aeroplan points, which had a monetary value of around $100 to $150. Aeroplan points can be redeemed for travel, gift cards, merchandise, and other rewards.
In addition, people incurred expenses and paid additional annual fees that they wouldn’t have had to pay had they been notified of the eligibility conditions when applying for a second Aeroplan credit card. CLG is accusing the companies of violating several consumer protection laws.
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“Aeroplan, TD, and CIBC signed up these account holders to Aeroplan Visa credit cards without ever notifying them that they may not be eligible for Welcome Bonus Points despite collecting their Aeroplan account numbers as part of the application process,” reads the statement.
As a result, CLG is seeking compensatory and punitive damages and is demanding that companies restore the rescinded Welcome Bonus Points. If you wish to join this class action or receive more information, you can sign up here.
Daily Hive has reached out to Aeroplan Inc., CIBC, and TD Bank for comment.