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Thursday, September 22, 2016

TD Travel Visa cardholders in Quebec may win a reprieve from the 2015 devaluation

TD's spin on their inherent devaluation last year

As many of you may be aware back in 2015 TD Canada Trust announced changes to the TD Rewards program that ticked off a lot of cardholders. The changes were posted to the Rewards Canada blog in June 2015 which you can read here. In our search for some details on the current AIR MILES class action lawsuit we came across another class action lawsuit we had not seen before. This one was brought up in Quebec so it is only good for residents of Quebec but it appears a settlement has been reached. The courts need to approved the settlement still with that decision to come on October 21st.

If approved it means credit card holders of TD's  proprietary rewards program (TD First Class, Platinum or Classic Travel visa) that reside in Quebec won't be subject to the devalued point requirements for book anyway travel purchases until August 31st, 2017.  The rest of Canada (and we're guessing Quebec right now) have been subject to the new redemption rates since November 2015.

Now the question to ask is if you are in Quebec and have redeemed points at the devalued rate, will you see TD refund you some points if the settlement is approved? We'll have to keep our eye out on this one. If you are in Quebec and have actually redeemed we'd love to hear from you to see what will happen!

Visit here to read more about the Class Action suit

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