Looks like I received the same letter. I converted it to text so people can search for it:
You've earned Options Elite Status
You'll now get more Canadian Tire `Money' rewards ... faster
OPTIONS ELITE REWARDS
The top 10% of our customers qualified for this year's program.
Great news! You have qualified for an upgrade to the exclusive Options Elite TM rewards status.
As an Options Elite member, you'll now automatically get even more Canadian Tire 'Money' On The Card awards everywhere you shop. And there's no fee for this exclusive upgrade.
Get free stuff from Canadian Tire ... faster
Here's what you'll get as an Options Elite member:
- Effective immediately, you'll get 20% more Canadian Tire `Money' rewards on your purchases*... every time you use your card.
- Bonus Boost opportunities - watch your statement for your chance to earn even more rewards designed to maximize your earning power.
- A one-time Welcome Bonus of $20 Canadian Tire `Money' rewards will be applied to your rewards account in April. It's our way of congratulating you for achieving Options Elite status this year.
Keep using your card to enjoy your bonus rewards.
Continue to use your Canadian Tire Options MasterCard for all of your purchases, everywhere
you shop, dine or travel. Annually in May, we'll assess our customers' accounts and notify those who qualify so that they can continue enjoying this exclusive program.
President and CEO
Canadian Tire Bank
P.S. Your free Options Elite upgrade is our way of thanking you for being one of our top customers.
Answers to questions you may have
How did I qualify for Options Elite status this year?
Your Options MasterCard spending level has put you in the top 10% of card users. Using your card for all of your purchases has allowed you to reach an annual spending level that qualifies you for exclusive Options Elite status.
What does my Options Elite status get me?
You get 20% more Canadian Tire `Money' rewards' on your purchases* ... automatically. Plus, periodic Bonus Boost opportunities will maximize your earning power on your everyday purchases. Bonus Boosts are special offers that allow you to earn additional Canadian Tire `Money' rewards for purchases at selected merchants during a defined time period. Watch your monthly statements for Bonus Boost details on when and where to shop.
When will I start getting my 20% bonus rewards?
Effective immediately, you'll enjoy 20% bonus Canadian Tire `Money' rewards on your purchases`. The bonus rewards will begin appearing no later than your April statement in the Canadian Tire `Money' Bonus Section.
How do I keep my Options Elite status?
Annually, in May, we'll assess our customers' accounts. Cardmembers whose annual spending level qualifies them for Options Elite status will continue to enjoy this exclusive program. Be sure to use your card for all your monthly purchases, and you'll see how easy it is to achieve Options Elite status each and every year.
 Providing it is a redeemable purchase and does not exceed your Canadian Tire 'Money' On The Card awards balance.
 In the form of Canadian Tire 'Money' On The Card' awards. Terms and conditions apply to earning and redeeming.
Details available in-store or on-line at canadiantire.ca/financialservices. The Welcome Bonus is applicable for this year only.
* Applies to purchases that earn Canadian Tire 'Money' On The Card' awards and excludes purchases at Canadian Tire Gas Bars and deferred payment purchases.
 Options Elite status is guaranteed to accounts that achieve a net spending level (purchases less credits) for purchases of $24,000 or more per year. Cardmembers that do not meet this spending level may also be included; however, such qualification is based on an annual assessment of each cardmember's spending levels, as compared to the overall spending levels of all Option MasterCard cardmembers. Cash advances, cash advance and other fees, balance transfers, charges for Roadside on Request (when purchased outside a Canadian Tire store), Credit Protector and Product Protector are excluded from annual spend calculations. The benefits of the Options Elite program are subject to change without notice and can be cancelled at any time. Each year, cardmembers that qualify for the Options Elite program will be notified by mail.
TM The trademarks of Canadian Tire Corporation, Limited are used under licence.
TM MasterCard, the MasterCard Brand Mark and PayPass are registered trademarks of MasterCard International Incorporated.