If you are thinking about transferring Membership Rewards points into the Canadian Plus frequent flyer program . . . forget it. Canadian Airlines abruptly decided to pull out of the American Express Membership Rewards program this week. The airline has been a Membership Rewards partner for the past eight years with its current contract set to expire in 2002. In response, Amex Bank of Canada said it will accelerate plans to revamp the travel component of its rewards program. American Express it will revise its program to allow cardholders to use their points for travel on any airline for any destination in the world. American Express Canadian cardholders will also receive a points loyalty bonus of 10% on the points earned between May 1 and Dec. 31 of this year. Cardholders will also be able to redeem their points for travel certificates which can be applied to up to 50% of the value of their purchases of air travel, package vacations, hotel stays, car rental, or other travel related services through any of Amex Canada’s 85 retail travel offices throughout Canada. In a related development, Amex Bank of Canada announced this week that American Express AIR MILES collectors can use their points for flights with Air Canada. American Express is a major partner with the AIR MILES program, offering a selection of co-branded American Express AIR MILES cards for consumers and small businesses. For complete information of the Canadian Airlines – Membership Rewards situation visit http//home3.a mericanexpress.com/canada/card/CAIL_Q&A.htm.