Credit cards companies and airlines have been partnering for decades to attract customers through travel rewards. Who wouldn’t want to earn perks just by using your credit card to make your usual purchases? If you’re a loyal airline customer, an airline-specific card is your best bet.
In my case, I fly almost exclusively with Air Canada for personal or business trips. Therefore, it makes sense for me to get a credit card that offers travel perks that I can use with the airline. Thankfully, Air Canada has partnered with several banks for its new Aeroplan program.
Aeroplan credit cards are offered by TD Bank Group, American Express, and the Canadian Imperial Bank of Commerce (CIBC). In this article, I will discuss the details of these credit cards, their features, and their rates and fees. If you want to know more, continue reading below.
- Understanding the Aeroplan Loyalty Program
- About Aeroplan Personal Credit Cards
- Examining the TD Aeroplan Credit Card
- TD Aeroplan Credit Cards and Their Benefits
- Applying for a TD Aeroplan Card
- American Express Credit Cards and Their Benefits
- Applying for an American Express Aeroplan Card
- CIBC Aeroplan Credit Cards and Their Benefits
- Applying for a CIBC Aeroplan Card
Understanding the Aeroplan Loyalty Program
The Aeroplan loyalty program is a rewards system created by Air Canada to give customers the ability to earn points that they can use for flight rewards, airline merchandise, and even hotel bookings and car rentals.
These points may be gifted to friends and family members so they can use them to claim rewards, or they could also be donated to a participating charity.
One of the fastest ways to accumulate points and gain Elite Status under the Aeroplan program is to use one of the several available Aeroplan credit cards.
Brief History of Air Canada’s Aeroplan Program
Air Canada’s Aeroplan program is a coalition loyalty program the airline created in 1984 to offer incentives for its frequent flyer clients but was spun off as a separate corporate entity in 2002 and sold to Aimia in 2008.
On August 21, 2018, the airline formed an agreement with TD, CIBC, and Visa to acquire Aeroplan from Aimia. The acquisition of the program, and its five million active members, was completed in January 2019.
Air Canada released details about a new loyalty program on August 11, 2020, which turned out to be a relaunch of the Aeroplan loyalty program.
About Aeroplan Personal Credit Cards
There are several personal credit cards on the market that are part of Air Canada’s Aeroplan program. I went ahead and gathered information on these credit cards from TD Bank, American Express, and CIBC.
TD Bank offers three Aeroplan personal credit cards, namely the TD Aeroplan Visa Platinum Card, the Aeroplan Visa Infinite Card, and the Aeroplan Visa Infinite Privilege Card.
American Express offers an Aeroplan Card and Aeroplan Reserve Card.
Meanwhile, CIBC also has three different Aeroplan cards similar to those of TD Bank, namely the Aeroplan Visa Card, the Aeroplan Visa Infinite Card, and the Aeroplan Visa Infinite Privilege Card.
Available Aeroplan Business Credit Cards
Some Aeroplan members may use their credit cards for business purposes so the same financial institutions mentioned above also offer business credit cards under the Aeroplan program.
TD has its TD Aeroplan Visa Business Credit Card, which is currently on special offer until December 5, 2021. Those who apply and get approved will receive a welcome bonus of up to 30,000 Aeroplan points.
American Express offers its Aeroplan Business Reserve Card, which can earn up to 90,000 welcome bonus Aeroplan points, while CIBC has its Aeroplan Visa Business Card.
TD Aeroplan Credit Cards and Their Benefits
The most basic Aeroplan credit card from TD is the Visa Platinum Card which can earn up to 20,000 bonus points. The next tier is the Visa Infinite Card, which can earn up to 25,000 points and a Buddy Pass.
The highest tier card is the Visa Infinite Privilege Card, which could earn up to 65,000 bonus points and a Buddy Pass. The Visa Business Card could earn up to 30,000 points, a Buddy Pass, and an annual fee rebate.
The Air Canada Buddy Pass gets you a free additional economy ticket, in which only taxes and third-party charges are owed. All cardholders get Maple Leaf Lounge access, priority airport services, priority standby, and priority upgrades.
Credit Limit, Fees, and Interest Rates
The Visa Platinum Card has a minimum credit limit of $1,500, an annual fee of $89, and an additional cardholder fee of $35. The Visa Infinite Card, in comparison, has a minimum credit limit of $5,000, an annual fee of $139, and an additional cardholder fee of $75.
The Infinite Privilege Card has a minimum credit limit of $10,000, an annual fee of $599, and an additional cardholder fee of $199. All cards have a purchase interest rate of 19.99% and a cash advance interest rate of 22.99%.
The Visa Business Card has a minimum credit limit of $1,000, an annual fee of $149, and an additional cardholder fee of $49. It has a lower purchase interest rate of 14.99% but the same cash advance interest rate.
Applying for a TD Aeroplan Credit Card
For all types of credit cards, the applicant needs to be a Canadian citizen or permanent resident and has reached the age of majority in their province of residence. These are the only requirements for the Visa Platinum Card.
For the Visa Infinite Card, a $60,000 annual personal income or $100,000 annual household income is required. The Visa Infinite Privilege Card requires $200,000 in annual household income.
For the Visa Business Card, the applicant must be an owner or signing officer of the business, which should have four or fewer owners. The business should operate in Canada and its borrowing does not exceed $20,000.
Bank Contact Info
For inquiries, you may reach a TD representative via their customer service hotline at 1-800-983-2582. They can also be contacted by email at [email protected].
The corporate headquarters is located at 357 Kings Hwy N, Cherry Hill, New Jersey 08034.
American Express Credit Cards and Their Benefits
The American Express Aeroplan Card could earn up to 40,000 points in the first year of membership, and a one-time use Bonus Buddy Pass, if the card is used for net purchases of $1,500 in the first three months.
Meanwhile, the Aeroplan Reserve Card could earn up to 90,000 points in the first year and a one-time use Bonus Buddy Pass if spending reaches $3,000 in the first three months.
Both cards are eligible for one free checked bag, flight rewards, insurance coverage, and a six-month Uber Pass membership.
Fees, and Interest Rates
In terms of annual fees, the Aeroplan Card costs $120 while both the Aeroplan Reserve Card and the Aeroplan Business Reserve Card have an annual fee of $599.
Since the Aeroplan Card is classified as a charge card, you don’t need to worry about interest rates. On the other hand, the Aeroplan Reserve Card has interest rates of 19.99% on purchases and 21.99% on cash advances.
The Aeroplan Business Reserve Card has interest rates of 16.99% on purchases and 21.99% on advances. Both credit cards have an additional card fee of $199 each.
Applying for an American Express Aeroplan Card
The basic requirements of applying for an American Express Aeroplan Card are to be a Canadian citizen or permanent resident and to reach the age of majority in the province of residence.
Application for all three cards may be done online via the American Express website.
Bank Contact Info
For inquiries about the American Express Aeroplan cards, you may call the Aeroplan contact center.
To discuss personal cards, call 1-800-361-5373 or 1-800-567-2639, and to discuss small business cards, call 1-877-891-0821.
American Express’ corporate headquarters is located at World Financial Center, 200 Vesey St, New York, New York 10285.
CIBC Aeroplan Credit Cards and Their Benefits
The CIBC Aeroplan Visa Credit Card has a few benefits, including booking flight rewards for fewer points, no points expiration for the primary cardholder, and insurance protection.
Meanwhile, the Visa Infinite Card offers additional perks, including a free first checked bag, access to eligible benefits for authorized users linked to the card, and earning status qualifying miles and segments.
The Visa Infinite Privilege Card and the Visa Business Card both have the additional benefit of accessing select Maple Leaf Lounges.
Credit Limit, Fees, and Interest Rates
The Visa Credit Card has no annual fee or authorized user fee, while the Visa Infinite Card has an annual fee of $139 and an authorized user fee of $50.
The Visa Infinite Privilege Card has the highest fees, with an annual fee of $599 and an authorized user fee of $149. All personal cards have interest rates of 20.99% for purchases and 22.99% for cash advances.
The Visa Business Card has an annual fee of $180 and an authorized user fee of $50. Its interest rates could go as low as 12.99% for purchases and 14.50% for cash advances.
Applying for a CIBC Aeroplan Credit Card
Applicants to all types of CIBC Aeroplan credit cards are required to be Canadian residents and of the age of majority in their province or territory of residence. The Visa Credit Card requires an annual household income of $15,000.
Meanwhile, the requirement is $60,000 annual personal or $100,000 annual household income for the Visa Infinite Card and $150,000 personal or $200,000 household for the Visa Infinite Privilege Card.
The Visa Business Card requires a $35,000 annual personal income.
Bank Contact Info
For inquiries and other concerns, you may reach CIBC via their customer support hotline at 1-866-525-8622 or email at [email protected].
The bank’s corporate headquarters is located at 199 Bay Street, Commerce Court Toronto, Ontario, Canada, M5L 1A2.
Conclusion
Whether you’re getting an Aeroplan credit card for personal or business use, there’s a card available for you. All you have to decide is which issuer is the best option for you. All three offer great perks and rates worth comparing to see which best fits your needs.
Note: There are risks involved when applying for and using credit Consult the bank’s terms and conditions page for more information.