Unprecedented bonus on the Aeroplan credit card — though it requires significant spending

The Aeroplan® Credit Card from Chase is a worthwhile cobranded airline card that provides ongoing benefits for a reasonable annual fee.

Currently, the card features what may be its highest-ever bonus; however, it includes a few important conditions, which I will discuss below.

Don’t assume the Aeroplan Card lacks benefits if you don’t reside in Canada; this loyalty program can be quite advantageous.

Let’s examine the current welcome bonus for the Aeroplan Card and evaluate its worth.

Aeroplan Credit Card introductory offer

At present, the $95 annual Aeroplan Credit Card is granting new cardholders the chance to earn 75,000 points after spending $4,000 within the first three months of opening the account, plus an extra 25,000 bonus points after spending $20,000 in the first year.

The usual offer for this card ranges from 50,000 to 60,000 points, so any bonus starting at 70,000 points is definitely worth considering.

According to TPG's September 2024 valuations, Aeroplan points are valued at 1.5 cents each, making this welcome offer potentially worth up to $1,500.

Remember, this card is subject to Chase's 5/24 rule, meaning you may not be approved if you've been granted five or more cards in the last 24 months, regardless of the issuer.

If you qualify, explore our tips to help you quickly meet a minimum spending requirement, such as prepaying taxes, insurance, rent, or a mortgage to maximize this bonus. You might also consider using this card for a down payment on a new vehicle or to purchase points or miles.

Although fulfilling the $20,000 spending requirement can be challenging, most individuals should manage it within the 12-month period offered. I always suggest tackling as much of the spending requirement as possible early on to avoid setbacks (like returning an item).

However, I never advise purchasing things you wouldn't normally buy just to meet a welcome bonus requirement.

Earning rates for the Aeroplan Credit Card

The Aeroplan Credit Card offers more than just its welcome bonus. It excels in earning points across various spending categories, with the following rates:

• 3 points per dollar on purchases directly with Air Canada
• 3 points per dollar on grocery store purchases
• 3 points per dollar on dining (including takeout and eligible delivery services)
• 1 point per dollar on other purchases

Moreover, cardholders earn a bonus of 500 points for every $2,000 spent on the card each month, with a maximum of 1,500 bonus points per calendar month. This is a valuable perk as you work towards the significant spending requirement for the card's welcome offer.

Key advantages of the Aeroplan Credit Card

In addition to the points you can accumulate, the Aeroplan Card provides several appealing benefits:

• Automatic Aeroplan 25K elite status for the year you open the card and the following calendar year
• Automatic Star Alliance Silver elite status, granting priority wait-listing and standby access, as long as you hold Aeroplan 25K status
• First checked bag free on Air Canada flights for you and up to eight companions on the same reservation
• Spend $15,000 annually to maintain 25K status, or $50,000 to receive a one-tier status upgrade
• Up to $100 statement credit (increasing to $120 starting Oct. 1) for Global Entry, TSA PreCheck, or Nexus applications every four years
• Travel protections, including trip cancellation and interruption insurance, baggage delay coverage, trip delay reimbursement, auto rental insurance, and roadside assistance
• World Elite Mastercard benefits, offering 24/7 concierge service, access to Mastercard Priceless® experiences, everyday discounts, and more
• Redeem points at a rate of 1.25 cents each for travel purchases made on the card—not limited to Air Canada or flights—or to cover the card's annual fee through Pay Yourself Back (with no limit on redemptions until Dec. 31, 2024)
• No foreign transaction fees

In summary

The Aeroplan Credit Card stands out as one of the most attractive airline credit cards available. It not only provides automatic elite status to new cardholders but also allows for rapid point accumulation and offers valuable day-of-travel benefits, such as a statement credit for TSA PreCheck, Global Entry, or Nexus memberships—all for a reasonable annual fee of $95.

Aeroplan points are among the most valuable available, with over 50 airline partners, making it one of the most flexible currencies.

For more information, check out our detailed review of the Aeroplan Credit Card.