|American Express® AeroplanPlus®* Gold Card: At a Glance|
|Welcome bonus: 15,000 Aeroplan Miles||Qualifying annual income: None|
|Annual fee: $120||Recommended credit score: N/A|
|Purchase interest rate: 30.00%||Rewards: Earn 1 Aeroplan Mile for every $1 in purchases up to $10,000; 1.25:$1 after that |
With no minimum qualifying income and plenty of points-earning potential, the American Express® AeroplanPlus®* Gold Card is a great travel and rewards credit card tied into the Aeroplan loyalty program. It looks good on paper – but is it worth signing up for this credit card? We take a look at whether it’s one of the best rewards credit cards in Canada.
About the American Express® AeroplanPlus®* Gold Card
The American Express® AeroplanPlus®* Gold Card wins a spot as one of the best Aeroplan credit cards in Canada. It has excellent earning rate: cardholders earn 1 Aeroplan Mile per $1 in card purchases up to $10,000, and 1.25 Aeroplan Miles for every additional $1 in card purchases over $10,000 annually. You also get two free supplementary cards (a $100 value), which can help accelerate earning opportunities, and Aeroplan Miles double when you pay with the credit card and flash your Aeroplan number at over 150 Aeroplan Partner brands. If you use this card regularly to make everyday purchases, you’ll rack up the points quickly. Plus, as a welcome bonus, new cardholders get 15,000 bonus Aeroplan Miles after spending $1,500 in the first three months of card membership.
We also love that it comes with other perks too, such as comprehensive travel insurance, a buyer’s assurance/purchase protection plan, and access to American Express Invites™. All things considered, the $120 annual fee may be justified.
How to Earn & Redeem Rewards
With this card in your hands, earning Aeroplan Miles is a cinch. Members can earn Miles while shopping or travelling with more than 150 partner brands in the financial, retail, and travel sectors, and/or by using an Aeroplan credit card to make everyday purchases. Let’s look at how you earn points:
- Earn 15,000 bonus Aeroplan Miles when you spend $1,500 in the first three months of card membership
- Earn 1:$1 on the first $10,000 you spend annually
- Earn 1.25:$1 after you spend over $10,000 annually
- Earn Aeroplan Miles twice when you pay with your American Express® AeroplanPlus®* Gold Card and provide your Aeroplan Number at over 150 Aeroplan Partner brands
You can redeem your Miles for more than 800 rewards and over 200 brands, so you’ve got a lot of options. Your accumulated Miles can be redeemed for travel rewards, such as flights on Air Canada and their partner airlines, hotels, car rentals, vacation packages, and event tickets. Additionally, there is merchandise available through the Aeroplan program. You can also donate your Miles to select charities or transfer them to another member. The choice is yours.
Find out how to make the most of your Aeroplan membership.
Other Perks of the American Express® AeroplanPlus®* Gold Card
The American Express® AeroplanPlus®* Gold Card comes with the following perks:
- Travel insurance coverage that includes $500,000 in travel accident insurance, flight delay, baggage delay, lost or stolen baggage, hotel/motel burglary, car rental theft or damage insurance, and travel emergency assistance.
- Two free supplementary cards (a $100 value)
- Front Of The Line® advance access, which gives cardholders the opportunity for advance ticket selection, reserved tickets, and special offers
- Buyer’s Assurance Protection, which doubles the manufacturer’s warranty up to a year when you charge the full purchase price to your American Express® AeroplanPlus®* Gold Card
- Purchase Protection, which insures eligible purchases against accidental physical damage and theft when you use your American Express® AeroplanPlus®* Gold Card.
Pros and Cons of the American Express® AeroplanPlus®* Gold Card
On the plus side, this card has a lot to offer. With no minimum annual income, this card is not restrictive. It also comes with 15,000 Aeroplan Miles as a sign-up bonus (after you spend $1,500 in the first three months), and two free supplementary cards that will help you accumulate faster. Miles are redeemable for flight rewards, but also car rentals, hotel stays, and vacation packages. There’s a catalogue of activities and merchandise as well.
There are a few cons to consider. Other Aeroplan credit cards out-earn what’s offered here, and while it’s still good, the welcome bonus isn’t the best out there (check out the TD® Aeroplan® Visa Infinite* Card). The annual fee is also a bit steep and if the credit card’s balance is not paid in full each month, the interest is a whopping 30%. Unlike some of the best travel credit cards in Canada, emergency travel medical insurance is not included as a perk.
How The Aeroplan Miles Rewards Program Works
The Aeroplan Miles program is a rewards system with a focus on travel with Air Canada. Miles can also be redeemed for vacation packages, rental cars, and hotel stays, as well as activities and entertainment and some retail merchandise.
Air Canada and its partner airlines operate in over 190 countries worldwide. With Aeroplan Miles, you can travel in different classes—economy to first-class—or with Market Fare Flight rewards you have unrestricted access to any available seat. Round-trip flights start at 15,000 Miles and cost up to 280,000 Miles; one-way trips cost half of that.
In addition to other travel-related purchases like hotels, vacations, or car rentals, Aeroplan Miles can also be spent on merchandise through the Aeroplan store.
One important caveat to note: the Aeroplan program is being completely overhauled and relaunched in 2020. Right now, we don’t know how that will affect the rewards system, so it’s food for thought if you’re looking to apply for a credit card that’s geared at racking up Aeroplan Miles.
The Verdict: Is the American Express® AeroplanPlus®* Gold Card Worth It?
The American Express® AeroplanPlus®* Gold Card is geared towards frequent travellers, those who are planning to charge major purchases, and those who shop at stores/websites that offer Aeroplan rewards. With a $120 annual fee and 30% interest charge, the American Express® AeroplanPlus®* Gold Card may not be the most competitive card on the market, but it doesn’t necessarily make it a bad choice. For instance, if you’re seeking a card with no minimum income requirement, the American Express® AeroplanPlus®* Gold Card may fit the bill. Before taking the plunge, consider your circumstances, do a little research, and weigh the pros and cons. It’s a good option for avid Aeroplan collectors.
This post was not sponsored. The views and opinions expressed in this review are purely my own.