CIBC Aeroplan Visa Business Card Review
Pros
- Earn 1.5 Aeroplan points per $1 spent on select business purchases
- Earn 1 Aeroplan point per $1 spent on all other purchases
- Attractive sign-up bonus available for new cardholders
- Offers travel and mobile device insurance coverage
- Access to exclusive Air Canada benefits, such as preferred boarding and lounge access passes
- Earn points faster by linking employee cards at no additional cost
Cons
- Annual fee of $180
- Cardholders need to be a member of the Aeroplan loyalty program
- Not the best option for individuals who don’t frequently travel with Air Canada or its partner airlines
- Limited transfer partners for Aeroplan points
- Potential reward devaluation if Air Canada makes changes to the Aeroplan program
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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 CIBC Aeroplan Visa Business Card has earned a 4.31 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
0.6
Fees
1.9
Perks
4.1
Interest rates
4.4
Insurance
5.0
Acceptance
2.5
Approval
The highest scoring categories for the CIBC Aeroplan Visa Business Card are insurance and interest.
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 CIBC Aeroplan Visa Business Card the most important factors for scoring this card are its insurance and interest.
Rewards
With the CIBC Aeroplan Visa Business 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 | 1.5 points |
| All Other Spend | 1 point |
Calculating your annual rewards
We estimate that spending $2,000 per month with the CIBC Aeroplan Visa Business Card would earn $540 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 |
| Travel | $36 |
| All Other Spend | $384 |
Our study investigating the value found that each dollar spent on the CIBC Aeroplan Visa Business Card is worth up to $0.02, depending on how you redeem.
This $540 in rewards value puts the CIBC Aeroplan Visa Business 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 CIBC Aeroplan Visa Business Card earns $540 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 | 3.00% | 1.19% |
| Other | 2.00% | 1.08% |
| Redemption method | Annual rewards |
|---|---|
| Transfer to partner hotels | $221 |
| Gift cards | $192 |
| Merchandise | $200 |
| Car rentals | $243 |
| Flight rewards | $540 |
| Air Canada gift cards | $270 |
| Air Canada vactions | $224 |
For an annual spend of $24,000, we estimated annual rewards value at up to $540.
That’s equivalent to a 2.25% return on spending.
The CIBC Aeroplan Visa Business Card has an annual fee of $180. After deducting this, we predicted net annual rewards of $360.
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 CIBC Aeroplan Visa Business Card has a $180 annual fee.
The average card charges $85. So, the CIBC Aeroplan Visa Business Card is in the top 10% 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 CIBC Aeroplan Visa Business Card scored a 1.9 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 | 12.99% |
| Cash Advance | 14.5% |
| Balance Transfer | 14.5% |
The average (median) credit card has a purchase interest rate of 19.99% and so the CIBC Aeroplan Visa Business Card charges 7% less than the average.
For cash advances it costs 14.5% compared to the average of 19.96%.
Testing the CIBC Aeroplan Visa Business Card with a $2,000 starting balance, you can see in the graph how the 7% 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 |
| Trip Cancellation | $1,000 | $1,500 |
| Trip Interruption | $2,000 | $2,000 |
| Flight Delay | $500 | $500 |
| Baggage Delay | $500 | $500 |
| Lost or Stolen Baggage | $500 | $1,000 |
| Rental Car Theft & Damage | Yes | No |
We scored it 4.4 out of 5 for insurance.
It offers 9 types of insurance, whereas the average card has 5 types of coverage.
Approval and qualifying
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 760 – 900 |
| Personal Income | $35,000 |
| Household Income | $0 |
| Fees | |
|---|---|
| Annual Fee | $180 |
| Extra Card Fee | $0 |
| Card type | Visa |
We scored it 2.5 out of 5 for approval.
We predict that you will require a credit score of at least 760 to qualify for the CIBC Aeroplan Visa Business Card, while the average card requires 652 to qualify.
This puts it in the top top 10% of cards by approval difficulty.
The personal income requirements are $35,000, while the average card requires $23,896.
This puts it in the top 30% of cards by the income required to qualify.
The CIBC Aeroplan Visa Business Card is a popular credit card option for many Canadian business owners looking to earn travel rewards. This review takes into account its earning potential, some benefits, and drawbacks of using the card, as well as other relevant information that potential users may find helpful.
Earning potential
The CIBC Aeroplan Visa Business Card allows users to earn Aeroplan points on everyday business spending. Cardholders earn 1.5 points for every $1 spent on gas, dining, and travel, as well as purchases made with Air Canada® (including flights, in-flight purchases, and more). In addition, users earn 1 point per $1 spent on all other purchases with the card.
Benefits
- Partner Rewards:The first major advantage of this card is the ability to earn additional Aeroplan points when you add authorized user accounts for employees. You’ll also enjoy access to a variety of exclusive partner offers and discounts, which can boost your overall rewards earning potential.
- Travel Insurance and Benefits: The second major advantage of this card is the comprehensive travel insurance benefits it provides. Cardholders receive coverage for trip cancellation, trip interruption, emergency medical, and more.
Additionally, users enjoy benefits like priority boarding and baggage handling with Air Canada, as well as complimentary first checked bags for both the primary cardholder and their guests. - Expense Management: The third major advantage of the card is its expense management capabilities. CIBC offers detailed transaction reports and alerts to help you monitor and manage your spending effectively. This can save time and make expense tracking more efficient for your business.
- Lounge Access: The fourth major advantage of the card is access to Maple Leaf Lounges in North America and the Air Canada Café, offering a comfortable space to work or relax before your flight. The card provides access to lounges for the primary cardholder and a guest, which can make your business travel experience more enjoyable.
Drawbacks
- Annual Fee: One significant drawback of the CIBC Aeroplan Visa Business Card is the annual fee. With a fee of $180, potential users should make sure that the card’s rewards and benefits justify the cost.
- Foreign Transaction Fee: Another drawback of this card is its foreign transaction fee of 2.5%. If you regularly make purchases in foreign currencies or travel internationally for business, this fee may dampen the value of the card’s rewards.
Additional information:
An important factor to consider when choosing a credit card for your business is whether your spending patterns align with the card’s reward structure. Discussing your specific needs with a financial expert or CIBC representative can help you determine if the CIBC Aeroplan Visa Business Card is the right fit for your business.
Is the CIBC Aeroplan Visa Business Card not convincing you? Consider the RBC Avion Visa Infinite Business or the Scotia Momentum for Business Visa Credit Card. Still not the right credit card? Make sure not to miss the Marriott Bonvoy Business American Express Card.
FAQ
Key benefits
- 19.99% standard purchase APR
- 22.99% cash advance APR
- Up to 55 interest-free days on purchases
- $50 per additional cardholder fee
- Travel accident insurance up to $500,000
- Trip interruption/trip cancellation coverage up to $1,500 per insured person
- Flight delay coverage of $500 per insured person
- Lost/stolen/damaged baggage coverage of $1,000 per total trip
- Car rental collision/loss damage insurance (48 consecutive days max)
- Hotel burglary insurance up to $2,500 per occurrence
- Mobile device insurance for up to $1,000
- Access to Air Canada Maple Leaf Lounges (two annual one-time passes)
- Air Canada priority boarding (available on eligible flights)
- points do not expire as long as your account is active and in good standing
- Concierge service
- Exclusive offers and partnerships through Aeroplan eStore
- Purchase protection and extended warranty services on eligible items
