Best-ever bonus on the Aeroplan credit card — but with a large spending requirement
Editor's Note
The Aeroplan® Credit Card from Chase is a valuable cobranded airline credit card that offers cardholders ongoing value for a low annual fee.
Right now, the card is offering potentially its best-ever bonus; however, it comes with a couple of caveats, which I'll explore below.
And before you assume that the Aeroplan Card has nothing to offer if you don't live in Canada, understand that this loyalty program can be very valuable.
Let's look at the current Aeroplan Card welcome bonus and analyze its value.
Aeroplan Credit Card welcome offer
Right now, the $95-per-year Aeroplan Credit Card is offering new cardholders the opportunity to earn 75,000 points after spending $4,000 on purchases in the first three months after account opening, plus an additional 25,000 bonus points after spending $20,000 on purchases in the first 12 months.
The typical offer on this card is 50,000-60,000 points, so anything from 70,000 points and above is worth considering.
TPG's September 2024 valuations peg Aeroplan points at 1.5 cents apiece, making this welcome offer worth up to $1,500.
Keep in mind that this card is affected by Chase's 5/24 rule, which means you will likely not be approved if you have been approved for five or more cards in the past 24 months, regardless of which issuer they come from.
But if you are eligible, check out our ideas to help you quickly meet a minimum spending requirement, including prepaying taxes, insurance, rent or a mortgage to help you maximize this bonus. You could also use this card to put a down payment on a new car or purchase points or miles.
While meeting the $20,000 spending requirement isn't easy, most people should be able to do it within the 12-month time frame provided by this welcome offer. I always recommend completing as much of a spending requirement as you can as early as you can, in case any hiccups set you back (like returning a purchase).
That said, I never recommend buying what you otherwise wouldn't just to hit a welcome bonus requirement.
Aeroplan Credit Card earning rates
The Aeroplan Credit Card is worth more than just the welcome bonus. The card is a strong earner on spending categories, accruing points at the following rates:
- 3 points per dollar on purchases made directly with Air Canada
- 3 points per dollar spent on grocery store purchases
- 3 points per dollar on dining (including takeout and eligible delivery services)
- 1 point per dollar spent on other purchases
Additionally, cardholders will get a 500-point bonus for every $2,000 spent on the card per calendar month, up to 1,500 bonus points per month. This is a particularly nice benefit while you work toward hitting the lofty spending requirement for this card's welcome offer.
Aeroplan Credit Card key benefits
Beyond the points that you can earn, the Aeroplan Card also offers several interesting benefits:
- Automatic Aeroplan 25K elite status for the year in which you open the card and the following calendar year
- Automatic Star Alliance Silver elite status, with access to priority wait-listing and standby, as long as you have Aeroplan 25K status
- First free checked bag on Air Canada flights, along with up to eight companions on your same reservation
- Spend $15,000 annually on the card to maintain 25K status or spend $50,000 annually to get a one-tier status boost
- Up to $100 statement credit (up to $120 starting Oct. 1) for Global Entry, TSA PreCheck or Nexus application every four years
- Travel protections, such as trip cancellation and interruption insurance, baggage delay insurance, trip delay reimbursement, auto rental insurance and roadside assistance
- World Elite Mastercard benefits, including 24/7 concierge service, access to Mastercard Priceless® experiences, everyday discounts and offers and more
- Use points at a rate of 1.25 cents apiece to cover travel purchases made on the card — and not just Air Canada or flights — or to cover the card's annual fee through Pay Yourself Back (no limit on the number of points that can be redeemed through Dec. 31, 2024)
- No foreign transaction fees
Bottom line
The Aeroplan Credit Card is one of the most compelling airline credit cards on the market. Not only does it confer automatic elite status on new cardholders, but it also earns points quickly and offers great day-of-travel perks, including a statement credit for a TSA PreCheck, Global Entry or Nexus membership. You get all of that for just a reasonable $95 annual fee.
Aeroplan points are some of the most valuable out there and the program has over 50 airline partners, making it one of the most versatile currencies out there.
To learn more, read our full review of the Aeroplan Credit Card.
Apply here: Aeroplan Credit Card
Related: 9 incredible benefits of the Air Canada Aeroplan credit card