Air Canada planes are pictured at Toronto’s Pearson International Airport on May 18, 2014.Matthew Sherwood/The Globe and Mail
We are about to enter a period of intense competition for customer loyalty. Aeroplan is losing Air Canada as its key partner – what will it do to keep its members from fleeing to other customer loyalty programs? And what will those other programs do to pry people away from Aeroplan?
As I said in this column last week, Canadians should prepare for all-out war between loyalty programs for their business. Keep your eye on what Aeroplan rivals like Air Miles and SCENE come up with. Remember, Air Miles is still smarting from the bad publicity it received last year over an ultimately abortive plan to have points older than five years start expiring. For now, consider whether it makes sense to start using your existing Aeroplan points instead of saving them for a future trip.
The Rewards Canada website says Air Canada's decision to leave Aeroplan wasn't a surprise because Aeroplan has evolved away from its original role as a frequent flyer plan. When Air Canada introduces its new offering, expect rewards based on travel (flights, hotels) and spending on credit cards, but not spending in retail stores.
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Ask Rob
The question: "If a financial institution collapses and a person's term deposits are covered by CDIC, what is the process for obtaining the funds?"
The answer: "Canada Deposit Insurance Corp. will find you if the financial institution that sold you a term deposit collapses. You don't have to apply for coverage. CDIC targets three business days for paying deposits to investors. You would receive principal and interest to a combined $100,000 per eligible account. More details are available in a column I wrote for Globe Unlimited subscribers.
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What I've been writing about
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