Canadians could sue Aeroplan, CIBC, and TD Bank as part of a class action lawsuit
Another CIBC or TD Aeroplan Visa credit card application could result in a new class action suit.
Credit card points were allegedly rescinded by Aeroplan Inc., TD Bank, and CIBC in a class-action lawsuit.
Law firm Consumer Law Group (CLG) accuses TD and CIBC of “clawing back” Welcome Bonus Points given to Aeroplan account holders.
The class action notice states that 17,000 Aeroplan account holders were affected after they were notified of these changes nearly a year after sign-up. TD and CIBC also failed to verify that account holders had Aeroplan credit cards, CLG claims.
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As a result, they would not have been eligible for the Welcome Bonus Points. A total of at least 10,000 Aeroplan points, equivalent to $100 to $150, were lost. Gift cards, merchandise, and travel can be redeemed with Aeroplan points.
The application process for a second Aeroplan credit card did not inform people about the eligibility conditions, and they incurred expenses. Several consumer laws are being violated by the companies, CLG says.
The statement reads: “Aeroplan, TD, and CIBC enrolled these Aeroplan account holders to Aeroplan Visa credit cards without informing them they may not qualify for Welcome Bonus Points.”.
CLG expects companies to restore the rescinded Welcome Bonus Points as a result of its lawsuit. Register here if you wish to join or receive more information.
In light of the ongoing lawsuit, Air Canada and CIBC have been unable to comment. Air Canada expressed its intent to vigorously defend itself.
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