Aeroplan® Credit Card Review 2024

The Aeroplan® Credit Card earns cardholders 3 points per dollar spent on dining, takeout and eligible delivery services, grocery stores and each dollar spent directly with Air Canada including vacations and cruises and 1 point per dollar for all other eligible purchases. Additionally, cardholders earn 500 bonus points for every $2,000 spent in a calendar month (maximum 1,500 points per month). The card’s welcome bonus offers additional points as well: 60,000 bonus points after spending $3,000 on purchases in the first 3 months of account opening.

With a wide selection of travel benefits including a $100 statement credit reimbursement for TSA PreCheck, Global Entry or NEXUS every four years, several types of travel coverage and automatic Aeroplan 25K elite status for the remainder of the calendar year of approval and the following year, the Aeroplan® Credit Card is packed with travel benefits.

The automatic Aeroplan 25K elite status expires after the full calendar year following the year of application and can be maintained the following year by meeting a $15,000 spending threshold on the card. Those who hold status and become cardholders earn a one-level status boost to 35K status or higher for the following year after spending $50,000 in a calendar year. Aeroplan will also buy carbon offsets for cardmembers and their companion each time they redeem flight rewards on Air Canada, Air Canada Express and Air Canada Rouge.

• $95 annual fee
• Welcome bonus: 60,000 bonus points after spending $3,000 on purchases in the first 3 months of account opening
• 3 points per dollar spent on dining, takeout and eligible delivery services, grocery stores and each dollar spent directly with Air Canada including vacations and cruises and 1 point per dollar for all other eligible purchases
• A $100 Global Entry, TSA PreCheck or NEXUS reimbursement statement credit every four years
• First checked bag free when flying Air Canada for cardholder and up to eight companions on same itinerary
• As a World Elite Mastercard, it comes with plenty of travel protections and insurances
• No foreign transaction fees

Earning Rewards

Aeroplan® Credit Card cardholders earn 3 points per dollar spent on dining, takeout and eligible delivery services, grocery stores and each dollar spent directly with Air Canada including vacations and cruises and 1 point per dollar for all other eligible purchases. Additionally, cardholders earn 500 bonus points for every $2,000 spent in a calendar month (maximum 1,500 points per month).

The Aeroplan® Credit Card also includes a welcome bonus: 60,000 bonus points after spending $3,000 on purchases in the first 3 months of account opening.

Redeeming Rewards

As Air Canada’s airline points reward program, Aeroplan points can be redeemed for flights on Air Canada, Air Canada Express and Air Canada Rouge as well as for flights on partner airlines—there are more than 25 airlines in the Star Alliance, of which Air Canada is a founding member. Points can also be redeemed on hotels, car rentals, vacation packages, activities and experiences or for merchandise and gift cards in addition to upgrades and other extras related to Air Canada tickets.

Rewards Potential

To determine the rewards potential of the Chase Aeroplan card we reviewed the elevated rewards categories and calculated what the average American household might spend in those areas. Forbes Advisor uses data from multiple government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage earners brings in $116,000 annually and has $36,177 in annual spending that can reasonably be charge to credit cards.

Forbes Advisor estimates that an average household at this income level spends $6,044 on travel. Assuming half of that is spent on flights with Air Canada, the cardholder would earn 9,066 Aeroplan miles. Spending an additional $10,548 on dining and groceries would result in 31,644 miles earned.

The remaining $22,607 that we estimate could reasonably be charged on a credit card would result in 22,607 Aeroplan miles, for a total of 63,317 Aeroplan miles earned each year. Assuming each month had at least $2,000 in purchases on the card, an additional 6,000 points could be earned each year.

• Free checked bags: One free checked bag for the cardmember and up to eight other travelers on the same itinerary.
• Automatic Aeroplan 25K elite status: Valid for the remainder of the first calendar year plus the following calendar year. Benefits of elite status include priority check-in, early boarding, upgrades and more on Air Canada flights.
• A $100 Global Entry, TSA PreCheck or NEXUS credit: Every four years receive a reimbursement of the application fee as a statement credit.
• Trip cancellation/interruption insurance: If your trip is canceled or interrupted for covered reasons, insurance benefits apply.
• Baggage delay insurance: If your baggage is delayed while traveling, insurance benefits apply.
• Trip delay reimbursement: Limited expense reimbursement when your trip is delayed for covered reasons.
• Auto rental collision damage waiver: Decline extra coverage at the rental car counter and pay for an eligible rental with your credit card and you’ll receive secondary coverage in the case of damage to your rental vehicle.
• World Elite Mastercard benefits: Complimentary 24/7 concierge service, access to Mastercard Priceless Experiences and exclusive offers from popular shopping brands.

Interest Rates

• Regular APR: 21.74% - 28.74% Variable
• Purchase intro APR: N/A
• Balance transfer intro APR: N/A

Fees

• Annual fee: $95
• Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
• Foreign purchase transaction fee: $0

Aeroplan® Credit Card vs. Citi Double Cash® Card

The Citi Double Cash® Card earns 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off. This simple, no-frills approach to reward earning has made the no-annual-fee Double Cash a rewards card benchmark across the industry.

Though it isn’t the only 2% cash-back card out there, it was one of the first. It includes few extra benefits (a handful of convenience benefits) but it does offer something else the Chase Aeroplan card does not: 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% - 29.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5).

The Chase Aeroplan card offers no low intro APR periods, but is notably a different beast from a 2% cash-back card. For this reason, we don’t recommend you choose between two cards like these. Instead, we suggest you choose to combine them and leverage each for what it’s designed for: solid airline rewards where you can earn them and flat rate cash-back on everything else.

Compare: Aeroplan® Credit Card vs. Citi Double Cash® Card

Aeroplan® Credit Card vs. United℠ Explorer Card

The United℠ Explorer Card, also issued by Chase, charges a $0 intro annual fee for the first year, then $95 and offers a similar benefits package, albeit all related to flying United instead of Air Canada.

The United Explorer card earns 2 miles per dollar on dining including eligible delivery services, hotel stays and United® purchases and 1 mile per dollar on all other eligible purchases. The rewards mile-for-mile are notably better with the Aeroplan® Credit Card

When it comes to benefits, the first free bag and the various travel insurances and coverages with both of these cards are similar. The United Explorer card also offers a fee credit of up to $100 for TSA PreCheck, Global Entry or NEXUS.

These cards are well-matched for benefits. But if you aren’t loyal to either airline, the Aeroplan® Credit Card would likely be a more rewarding card for most.

Aeroplan® Credit Card vs. Chase Sapphire Preferred® Card*

A non-co-branded travel card with solid reward potential and a similar $95 annual fee, the Chase Sapphire Preferred® Card* earns points eligible for 1:1 point transfer to the Aeroplan rewards program via Chase Travel℠.

The Chase Sapphire Preferred® Card* earns 5 points per dollar on travel purchased through Chase Travel℠, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on other purchases. Cardholders also earn bonus points each account anniversary equal to 10% of the total purchases made in the previous year.

Points earned with the Chase Sapphire Preferred® Card* are worth 1 cent each when redeemed for cash back but are worth an extra 25% in value when redeemed for travel through Chase, in addition to the ability to transfer to partners like Air Canada Aeroplan and United.

The Chase Sapphire Preferred® Card* also offers many of the same travel protections the Aeroplan® Credit Card does as well as purchase protection and extended warranty. While it may be missing some of the details of the Aeroplan® Credit Card like the $100 TSA PreCheck, NEXUS or Global Entry reimbursement credit, the Chase Ultimate Rewards program alone makes this card a valuable option for those who prefer to earn flexible rewards.

The reward-earning potential of the Aeroplan® Credit Card makes the card an excellent option for loyal Air Canada passengers who are passionate about food and travel. We see the card fitting nicely in the wallets of travelers who also carry a flat-rate 2% cash-back card for spending outside dining, grocery or Air Canada. For those who won’t fly Air Canada or don’t plan to fly much at all, we recommend looking elsewhere.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:

• Annual fees
• Welcome bonus offers
• Ongoing earning rates
• Value of individual points or miles
• Included travel or merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.

Read more: How Forbes Advisor Rates Credit Cards