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
How you earn rewards
Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With CIBC Aeroplan Visa Business Card, here’s how you earn rewards:
| Restaurants / Delivery | 1.5 points |
| Specific Stores | 2 points |
| Travel | 1.5 points |
| All Other Spend | 1 point |
How much your rewards are worth
The dollar value of your rewards depends on the specific CIBC rewards program and what you choose to redeem your points for.
For CIBC Aeroplan Visa Business Card in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:
| Redemption method | Annual rewards |
|---|---|
| Transfer to partner hotels | $218.94 |
| Gift cards | $189.57 |
| Merchandise | $197.58 |
| Car rentals | $240.30 |
| Flight rewards | $534.00 |
| Air Canada gift cards | $267.00 |
| Air Canada vactions | $221.61 |
Calculating your annual rewards
$24,000.00 annual spending x $2.23% return on spending = $534.00 annual rewards
$534.00 annual rewards – $180.00 annual fee = $$354.00 net annual rewards
Details and eligibility
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 760 – 900 |
| Personal Income | $35,000.00 |
| Interest Rates | |
|---|---|
| Purchase | 12.9% |
| Cash Advance | 14.5% |
| Balance Transfer | 14.5% |
| Fees | |
|---|---|
| Annual Fee | $180.00 |
| Extra Card Fee | $0 |
| Card type | Visa |
Insurance coverage
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Travel Accident | 500000 |
| Trip Cancellation | 1000 |
| Trip Interruption | 2000 |
| Flight Delay | 500 |
| Baggage Delay | 500 |
| Lost or Stolen Baggage | 500 |
| Rental Car Theft & Damage | Yes |
CIBC Aeroplan Visa Business Card Review
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.
Benefit 1: 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.
Benefit 2: 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.
Benefit 3: 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.
Benefit 4: 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.
Drawback 1: 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.
Drawback 2: 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
