This came as a bit of a surprise, but CIBC has upped the sign up bonus on their CIBC Aerogold Visa Infinite Card to 20,000 Aeroplan Miles (15,000 upon approval and 5,000 more when you spend $500 in the first three months) and are waiving the first year annual fee.
Why is it a surprise? Well this essentially beats out the new TD Aeroplan Visa Infinite card by 5,000 miles and $120 and it appears that anyone can sign up for the CIBC card (not just CIBC customers or people walking into the branch) If the competition between CIBC and TD stays like this one has to wonder if TD is going to actually gain anything from the Aeroplan relationship because of all the money they have to fork over to CIBC, to Aimia and of course the 15% more per Aeroplan mile than CIBC.
Honestly, if I had to choose between the TD Infinite and the CIBC Infinite
and wasn’t an All Inclusive plan holder at TD I would go for the CIBC offer for the extra miles and no annual fee in the first year.
Update: My mistake, the First year free being offered by TD for applying in branch or over the phone is not specific to the all inclusive plan.
For more details on the offer visit https://www.cibc.com/ca/visa/aerogold-visa-infinite-card.html#aerogoldVisaInfinite