If you are a frequent flier, it is a good idea to have an Aeroplan credit card. Since there are so many options out there, it may be very difficult to choose a card. Below is a breakdown of five of the best Aeroplan credit cards you can consider. Using a card like that is one of the ways to save money.
What is an Aeroplane credit card?
Aeroplan is a loyalty program of Air Canada. An Aeroplan credit card is a credit card that you can use to earn points by purchasing things on credit at participating stores or flight tickets. On average, each point is worth between 1 to 2 cents. You can subsequently redeem the points to purchase flight tickets on Air Canada and its partners. Aeroplan has over 45 partner airlines. You can also redeem your points on hotel, car rental and other purchases.
Redeeming your points is quite easy. You can do this by going to Air Canada website and searching for flights. You can also use your points by searching partner airlines. There is an option on the Air Canadian partner websites to use your Aeroplan points. This option shows you the flights available and the points required.
To maximize your points you should:
- use partner airlines because they often use fixed points, which leads to better value
- look at flight distances, because you can sometimes travel longer distances with the same number of points
To choose the best Aeroplan credit card, you should consider the following:
- The fees: some credit cards have no fees while some have fees. While the high fees credit cards may offer better value, it only makes sense to get them, if you often fly.
- Introductory offers: credit card companies periodically offer introductory bonuses, for example, a bulk of points to sign you up. This may be a good way to bump up your points quickly.
- The earn rates for different categories: different credit cards offer different amount of points for different spending categories. (Examples of spending categories include groceries, gas, beauty, health and wellness, popular brands, electronics, kitchen and dining, etc.,)
Types of credit cards in Canada
There are two types of cards in Canada: the ones that allow you to earn Aeroplan points directly, and the ones whose points you need to transfer to the Aeroplan program. TD or CIBC bank offer credit cards with Aeroplan program. American Express also provides great Aeroplan credit cards for frequent travellers.
5 best Aeroplan credit cards in Canada
American Express Cobalt Card
The annual fee for this card is $155.88 ($12.99 paid monthly). The Annual Percent Rate (APR) for purchases is 20.99% and for cash advances is 21.99%.
You can earn points in the following way:
- Earn 5X points on food and drink purchases, including delivery.
- Earn 3X points on streaming subscription bills.
- Earn 2X points on travel and transit purchases.
- Earn 1X points on all other eligible purchases.
- Get 1 additional point for every dollar you spend on hotel or rental car bookings through American Express Travel.
The welcome offer includes 30,000 bonus reward points in the first year.
You can redeem your points by transferring them to Aeroplan points. When transferring points you need to have accumulated at least 1,000 points. 1,000 rewards points equals 1,000 Aeroplane points.
This card offers good insurance benefits, namely, emergency medical ($5M), travel accident ($250K), flight delay, baggage delay, hotel burglary, and rental car insurance.
Another plus is that there is no minimum income requirement to apply for this card.
American Express Gold Rewards Card
This card has an annual fee of $250 and an APR of 20.99% for purchases and 21.99% for cash advances.
You earn points in the following way:
- Earn 2 points for every $1 spent at gas stations, grocery stores, and drug stores in Canada.
- Earn 2 points for every $1 spent on travel purchases, including flights, hotels, car rentals, and vacation packages.
- Earn 1 point per every $1 spent on everything else.
The welcome offer is 60,000 points in the first year (5,000 bonus points each month when you spend at least $1,000 and up to 60,000 in the first year).
You can transfer your points to Aeroplan points just like with American Express Cobalt Card.
The insurance benefits include emergency medical, travel accident, trip cancellation, flight delay, rental car, and lost or stolen baggage insurance coverage. It also has other benefits like room upgrades, airport lounge access and emergency medical insurance coverage.
There is no minimum income requirement for this card.
TD Aeroplan Visa Infinite Card
TD Aeroplan Visa Infinite card is one of the best Aeroplan credit cards in Canada. The annual fee for this card is $139, which is waived in the first year. The APR for purchases is 20.99%, and for cash advances is 22.99%.
As far as earning points go, you get 1.5 miles for every $1 spent on grocery, gas, and aircanada.com purchases and 1 mile for every $1 spent on all other purchases.
When you want to redeem your miles to purchase flight tickets, you can choose between the fixed mileage or market flight rewards.
When buying fixed mileage tickets, you will need a fixed number of miles for flights to specific destinations. The downside is that there are limited seats available for this option.
Market fare flights prices depend on the demand for a particular flight. They are more flexible in that you can book a seat at any time on Air Canada flights. They will usually cost you more for the same destination compared to the fixed mileage flights.
Travel insurance includes medical for up to $2 million for 21 consecutive days for people below 65 years of age and up to 4 days for people over 65, trip cancellation/trip interruption, delayed and lost baggage, flight/trip delay, common carrier travel accident insurance up to $500,000 and other.
To qualify for this card, you need a personal income of $60,000, and $100,000 income for a household.
CIBC Aeroplan Visa Infinite
The fee for this Aeroplan credit card is $139. The APR for purchases is 20.99% and for cash advances is 22.99%. You can get up to 45,000 Aeroplan points with this card, if you qualify.
The CIBC Aeroplan Visa Infinite has these rewards rates:
- Earn 1.5 miles per $1 spent on gas, electric vehicle charging, groceries, health and beauty and purchases on aircanada.com
- Earn 1 mile per $1 spent on everything else
You can deposit points in your Aeroplan, provided you have accumulated 1,000 of them.
The card offers travel insurance, purchase security and extended warranty.
You need to have an income of $60,000 to qualify.
CIBC Aeroplan Visa Card
This is one of the most affordable Aeroplan credit cards. It comes at no yearly cost to you. The APR is 20.99% for purchases and 22.99% for cash advances.
You can earn 1 Aeroplan point for every $1 spent on groceries, gas, electric vehicle charging or at Air Canada purchases. You get 10,000 Aeroplan points (around $200) on your first purchase. It is possible to earn twice the points at the Aeroplan eStore.
You can buy every Air Canada ticket available for purchase with Aeroplan points. You can also pay for flights with a combination of points and cash.
