American Express Aeroplan Card Review
Pros
- Earn 2 Aeroplan points per $1 spent on Air Canada® purchases
- Earn 1.5 points per $1 spent on dining and food delivery
- Earn 1 point per $1 spent on all other purchases
- Comprehensive travel insurance coverage
- Complimentary lounge access with Priority Pass membership
- Secondary cardholder benefits with a reasonable supplementary card fee
- Extensive American Express benefits and services
Cons
- $139 annual fee
- Acceptance rate of American Express cards might be lower than other card networks at some merchants
- Limited transfer options for rewards points
- High interest rates on unpaid balances (19.99% for purchases)
- Restrictions on bonus points earning based on the card’s tier system
- No promotion for reduced or waived annual fee for the first year
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Performance test results
At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.
You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.
The American Express Aeroplan Card has earned a 4.08 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).
3.8
Rewards
1.7
Fees
2.0
Perks
1.5
Interest rates
4.2
Insurance
4.0
Acceptance
3.5
Approval
The highest scoring categories for the American Express Aeroplan Card are insurance and rewards.
These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.
This weighting allows us to judge cards on their merits and the customers they are designed for.
For the American Express Aeroplan Card the most important factors for scoring this card are its insurance and rewards.
Rewards
With the American Express Aeroplan Card, here’s the rates at which you earn rewards for different spending categories per dollar you spend:
| Bills | 1 point |
| Pharmacy | 1 point |
| Gas | 1 point |
| Groceries | 1 point |
| Restaurants | 1.5 points |
| Specific Stores | 2 points |
| Travel | 1 point |
| All Other Spend | 1 point |
Calculating your annual rewards
We estimate that spending $2,000 per month with the American Express Aeroplan Card would earn $528 in rewards over the year.
Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.
We found that you’d earn this per category:
| Restaurants | $72 |
| Specific Stores | $48 |
| All Other Spend | $408 |
Our study investigating the value found that each dollar spent on the American Express Aeroplan Card is worth up to $0.02, depending on how you redeem.
This $528 in rewards value puts the American Express Aeroplan Card in the top 30% of credit cards in Canada based on rewards earned.
The average credit card in our database earns $337 in rewards for the same spend that the American Express Aeroplan Card earns $528 in rewards value.
We can compare this card to other options by looking at the earn rate by category.
This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.
For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.
In this example, that’s a 10% earn rate on gas.
| Spend | This Card | Average |
|---|---|---|
| Bills | 2.00% | 1.25% |
| Pharmacy | 2.00% | 1.17% |
| Gas | 2.00% | 1.48% |
| Groceries | 2.00% | 1.71% |
| Restaurant | 3.00% | 1.53% |
| Store | 4.00% | 1.94% |
| Travel | 2.00% | 1.19% |
| Other | 2.00% | 1.08% |
| Redemption method | Annual rewards |
|---|---|
| Transfer to partner hotels | $216 |
| Gift cards | $187 |
| Merchandise | $195 |
| Car rentals | $238 |
| Flight rewards | $528 |
| Air Canada gift cards | $264 |
| Air Canada vactions | $219 |
For an annual spend of $24,000, we estimated annual rewards value at up to $528.
That’s equivalent to a 2.20% return on spending.
The American Express Aeroplan Card has an annual fee of $120. After deducting this, we predicted net annual rewards of $408.
This puts it in the top 30% of credit cards for net rewards after fees.
In comparison, the average card earns net annual rewards of $254.
Fees
The American Express Aeroplan Card has a $120 annual fee.
The average card charges $85. So, the American Express Aeroplan Card is in the top 30% of cards based on the cost of the annual fee.
Perks
We manually review the perks of each credit card to determine how they compare to other cards.
The American Express Aeroplan Card scored a 2.0 out of 5 for perks, putting it in the top 40% of cards.
The average card scores 1.6 out of 5 for perks.
Interest Rates
| Purchase | N/A% |
| Cash Advance | N/A% |
| Balance Transfer | N/A% |
The average (median) credit card has a purchase interest rate of 19.99% and so the American Express Aeroplan Card charges 19.99% less than the average.
For cash advances it costs N/A% compared to the average of 19.96%.
Testing the American Express Aeroplan Card with a $2,000 starting balance, you can see in the graph how the 19.99% less in interest rates impacts the interest over a year, compared to the average card.
Insurance coverage
| Insurance | This Card | Average |
|---|---|---|
| Extended Warranty | 1 year | 1 year |
| Purchase Protection | 90 days | 90 days |
| Travel Accident | $500,000 | $500,000 |
| Flight Delay | $500 | $500 |
| Baggage Delay | $500 | $500 |
| Lost or Stolen Baggage | $500 | $1,000 |
| Rental Car Theft & Damage | Yes | No |
| Hotel Burglary | $500 | $1,000 |
We scored it 4.2 out of 5 for insurance.
It offers 8 types of insurance, whereas the average card has 5 types of coverage.
Approval and qualifying
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 560 – 659 |
| Personal Income | $0 |
| Household Income | $0 |
| Fees | |
|---|---|
| Annual Fee | $120 |
| Extra Card Fee | $0 |
| Card type | AMEX |
We scored it 3.5 out of 5 for approval.
We predict that you will require a credit score of at least 560 to qualify for the American Express Aeroplan Card, while the average card requires 652 to qualify.
This puts it in the top bottom 30% of cards by approval difficulty.
The personal income requirements are $0, while the average card requires $23,896.
This puts it in the top 50% of cards by the income required to qualify.
The American Express Aeroplan Card is a popular travel rewards credit card designed for Canadians who frequently fly with Air Canada and the Star Alliance network. This card offers various earning options and benefits, making it an ideal choice for those looking to maximize their travel rewards.
In this review, we will discuss the earning potential, benefits, drawbacks, and any additional relevant information pertaining to the American Express Aeroplan Card.
Earning potential
The American Express Aeroplan Card allows cardholders to earn Aeroplan points in several different spending categories. For every $1 spent on eligible purchases at Air Canada, users will receive 2 points.
Additionally, cardholders will earn 1.5 points per $1 spent on dining and takeout, and 1 point for every $1 spent on everything else. This diversified earning potential allows users to accumulate points quickly for their next trip.
Benefits
- Welcome bonus: One of the major advantages of the American Express Aeroplan Card is the impressive welcome bonus for new users.
Upon signing up and meeting the required minimum spending threshold within the first three months, cardholders are eligible to earn up to a maximum of 15,000 bonus Aeroplan points, which can be used towards flights, vacation packages, and other travel-related rewards. - Travel insurance coverage: The second significant benefit is the suite of comprehensive travel insurance coverage that comes with this card. This includes medical emergency coverage, trip cancellation/interruption insurance, and baggage loss/delay coverage. These protections will help give cardholders peace of mind throughout their travels.
- Annual Maple Leaf Lounge access pass: Thirdly, this card grants one annual Maple Leaf Lounge access pass when flying on an Air Canada flight booked with Aeroplan points, allowing cardholders to experience luxury and comfort before their departure.
- Bonus rewards: One additional advantage of the American Express Aeroplan Card is its compatibility with American Express Offers, which allow users to earn bonus rewards, receive discounts, and access exclusive promotional offers by making purchases at participating retailers and businesses.
Drawbacks
- Drawback: One considerable drawback of the American Express Aeroplan Card is its annual fee. At a price point of $120, potential users should weigh the annual fee against the card’s benefits to ensure it is a worthwhile investment.
- Drawback: Another drawback of this card is that American Express is not as widely accepted as Visa or Mastercard, which may cause some inconvenience for cardholders when trying to earn Aeroplan points on their everyday spending.
Additional information
In conclusion, the American Express Aeroplan Card offers various earning potentials and benefits that can be advantageous to Canadians who frequently travel with Air Canada and the Star Alliance network.
However, the annual fee and less widespread acceptance of American Express should be taken into consideration when deciding if this card is the right choice for an individual’s specific needs and travel preferences.
Is the American Express Aeroplan Card not convincing you? Consider the SimplyCash Card American Express or the Marriott Bonvoy American Express Card. Still not the right credit card? Make sure not to miss the American Express Gold Rewards Card.
FAQ
Key benefits
- Aeroplan Rewards Program: Earn points for Air Canada flights and partner airlines
- Points Multiplier: Double your points for travel, dining, and food delivery expenses
- Base Points Accrual: Default 1 point per dollar on all other eligible spending
- Travel Insurance Suite: Medical and trip delay/cancellation protection for you and your family
- Lounge Privileges: Relax in style with a complimentary Priority Pass membership
- Add a Spouse/Partner: Additional card users gain access to benefits for a modest fee
- Amex Perks: Exclusive event invites, shopping protections, and premium customer service
- Cost Consideration: A $139 annual fee offsets the card’s numerous advantages
- Amex Acceptance: Wider usage limitations compared to Visa or Mastercard
- Reward Flexibility: Minimal transfer options for points into alternative rewards programs
- APR: Be mindful of a 19.99% interest rate for purchases if not promptly paid off
- Tier Restrictions: Some rewards are subject to varying conditions based on cardholder status
- Welcome Offer: Lacks an appealing first-year fee waiver commonly found in other cards
