I've had a gold CIBC Aeroplan card for a number of years that I have used for business expenses. More than a decade. And charged a ton of business expenses, keeping a good credit record. I liked that card. I chose it from a bunch of other bachelors vying for my favors, and have felt proud to have it in my pocket. It has served me well.
But then the card portfolio got sold to TD, and I got sold along with it. Now, let me be clear, I know TD to be good organization, and I have other accounts with them. But this was not my decision.
This is not proving to be a great customer experience
First, the emotional hit. I was happy where I was, and it felt really odd to find out that they really didn't want a relationship, despite saying that for years. Me and my business could be sold, just like that. I seriously considered cancelling and moving on, and may still do that. The goodbye letter from the old bank did not communicate an essential message of thanks for business done in the past. Or communicate any empathy about the fact that they, not me, made this decision.
Then letters from the new guys started to arrive. And the hassle-factor set in.
New card. Several letters. New card number. New PIN number. Reminders that I need to change all the regular payments going through the card. (Guess what guys, it's a business card, and there are a TON of regular charges!)
Oh yeah. You can't do a thing before the big switchover date. You can't input the changes into all those other systems in advance -- they won't take the new card number. You can't change the PIN in advance. The letters have warned me that I should take BOTH the old and the new card, and the new secret PIN with me if I just happen to be traveling on that date. (Yes, I do just happen to be traveling on that date.)
My Director of Everything guy tells me that the entire online history of the account will disappear. You know how we keep getting told we should stop getting paper statements because we'll always be able to get the information online? That would be incorrect, I have now learned. (Sorry guy. Guess you'll be doing some downloading over the next few days prior to the switchover!)
I was a little concerned that I have booked travel on a card that will no longer be active. Travel companies have a way of not liking that. I asked the nice lady on the phone about that little problem. She seemed to think it was a highly unusual situation (uh, nope), and wanted to know when, exactly, I had booked the travel? (Huh? how is that relevant? Months ago.) No useful information to impart. Kind of suggested I should have called a different number. (You mean NOT the one printed on the back of the new card??)
I'm not giving them my heart this time
All the letters are filled with blah-blah-we're-wonderful-blah. It's all going to be great. I should be really happy. And please make sure I carefully read the many instructions and fine print.
So far, it's been a ton of work and annoyance, and we're nowhere near done.
And the new card isn't pretty, either. I may have to put some Hello Kitty stickers on it. Cause right now, it looks like it's all about them, and I want it to be all about me.
But here's the crucial thing. The letters are just so much boilerplate marketing-speak. I'm not going to give them my heart this time. I'll collect the points for now. But at the first good offer from someone else, I'm moving. I would have done it this week if it weren't for the fact that -- yes -- I am traveling, and can't wait for a new card to show up from some new guy seeking my affections.
My take
We in the marketing corner talk a lot about relationships. But the truth is that this is really a one way street. I think consumers may be catching on. What do you think?
What's your take?
I'd love to hear your reaction. Am I just being silly? Should I be grateful I got sold?
