What the Card Offers
Amex markets the Aeroplan Card as a way to elevate your arrival: up to 45,000 welcome points, 2x on Air Canada, 1.5x on dining, a free first checked bag on Air Canada and up to $1,550 in value in the first 13 months.
- 2x
On Air Canada1
2 points per $1 on purchases made directly with Air Canada and Air Canada Vacations.
- 1.5x
Dining and food delivery1
1.5 points per $1 at restaurants, cafés, bars and food delivery in Canada.
- 1st bag free
Checked bag on Air Canada2
First checked bag free for you and up to 8 others on the same reservation, on Air Canada flights.
Show 3 more benefitsShow fewer
- 45,000
Welcome Aeroplan points3
35,000 points after $7,500 in purchases in 6 months, plus 10,000 for $1,000 spent in month 13.
- 4th night
Free on hotel redemptions4
Every 4th consecutive night free on hotel stays booked with Aeroplan points, until December 31, 2026 unless extended.
- $120
Annual fee5
Annual fee of $120; it rises to $150 for fees charged from January 12, 2027.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (5)
- Amex Aeroplan Card product page footnotes (retrieved 2026-10-21), earn rate terms
- Amex Aeroplan Card product page footnotes (retrieved 2026-10-21), free first checked bag terms
- Amex Aeroplan Card product page footnotes (retrieved 2026-10-21), Welcome Bonus terms
- Amex Aeroplan Card product page footnotes (retrieved 2026-10-21), 4th Night Free terms
- Amex Aeroplan Card product page (retrieved 2026-10-21)
Points & Redemption
Rates: TD Aeroplan Visa product pages (retrieved 2026-10-13), redemption section and welcome-offer value footnote; Aeroplan Terms and Conditions for TD Credit Cards 599192 (04/25), section 3.1; CIBC Aeroplan Visa Infinite product page, welcome offer and footnote "aeroplan-redeem" (retrieved 2026-10-18). The CardTruth estimate is our own valuation, not a rate stated in the terms. The program states no fixed cash value, so what a point is worth depends on how you redeem it. Ranges marked est. are CardTruth estimates, from a conservative redemption to a typical one.
The Fine Print Report
Moderate fine print. A charge card with a rising fee and no medical cover.
Fee rises to $150 from January 2027Impact level: High
The annual fee rises from $120 to $150 for fees charged on or after January 12, 2027
Amex's page says the annual fee increases to $150 for annual fees charged on or after January 12, 2027, with new benefits. Additional Aeroplan Cards go from $50 to $59, and the no-fee additional card becomes a Companion Card at $25 a year.
Why it matters: Anyone applying now pays $120 in year one but should expect $150 at their first renewal.
Charge card: unpaid balance costs 30%Impact level: High
It's a charge card: anything not paid in full by the next statement is charged 30% interest
The balance must be paid in full every month. If a charge isn't paid in full by the next statement's closing date, all charges on that statement become delinquent and interest of 30% a year is charged from the day each purchase was made until paid.
Why it matters: This card can't be used to carry a balance; one partial payment costs 30% interest backdated to each purchase date.
No travel medical or trip cancellationImpact level: High
No emergency medical or trip cancellation insurance
The card's travel coverage is limited to flight and baggage delay, hotel burglary, lost baggage, travel accident and rental car coverage. There's no emergency medical, trip cancellation or trip interruption insurance.
Why it matters: Buy separate travel medical insurance for trips outside your province.
Other Aeroplan card bonuses can block itImpact level: Medium
Current or former Aeroplan Card Cardmembers can be approved but get no welcome bonus, and other Aeroplan card bonuses can count against you
Amex may approve your application but won't pay the welcome offer if you hold or have held this card before. You may also be refused the bonus if you've already received welcome or incentive Aeroplan points on an Aeroplan card of the same category from another issuer, such as TD or CIBC, under Aeroplan's own terms. Points can be deducted if returns take your spending below a threshold you've already met.
Why it matters: Check your history with this card and with other banks' Aeroplan cards before applying for the bonus.
10,000 points need a second annual feeImpact level: Medium
10,000 points of the welcome bonus needs you to keep the card into its second year and pay the next annual fee
The last part of the welcome offer is paid for spending $1,000 in month 13 of Cardmembership. The terms say you must keep the card into its second year, that the second-year annual fee will be payable, and that it may be higher than the first year's. The fee is already set to rise to $150 from January 12, 2027.
Why it matters: Count the second annual fee against the second part of the bonus when working out what the offer is really worth.
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Missed payment: that month's points lostImpact level: Medium
Miss a payment and the Aeroplan points from that billing period can be withheld or taken back
If the required payment isn't received by the next statement date, Amex can withhold or deduct all Aeroplan points earned in that billing period, including bonus points. Getting them back requires a request within 120 days and a reinstatement fee for each billing period. Amex can also treat cancelling or downgrading the card, or returning purchases made to earn points, as abuse of the Aeroplan program.
Why it matters: Set up automatic payments. A late month can cost both interest and that month's points, including any welcome bonus points earned in it.
2x only for direct Air Canada purchasesImpact level: Medium
2x on Air Canada only when you buy directly from Air Canada
Air Canada tickets bought on another website, through a travel agent (including American Express Travel) or as part of another merchant's vacation package earn 1x, as do Air Canada gift cards, Maple Leaf Club memberships and hotels or cars booked on aircanada.com.
Why it matters: Book on aircanada.com or the Air Canada app to get the bonus.
2.5% FX fee, not refunded on returnsImpact level: Medium
2.5% foreign currency conversion commission, not refunded on returns
Charges in a foreign currency are converted by Amex's currency affiliate and a 2.5% conversion commission is added. The agreement sets the rate in the information box sent with the application rather than on the product page. The commission isn't returned when a foreign-currency purchase is refunded.
Why it matters: Spending $200 a month in U.S. dollars, on subscriptions for example, adds about $60 a year in conversion fees, and refunds of foreign purchases don't return the original commission.
$1,550 value claim: 2¢/pt, $21,500 spendImpact level: Low
The "up to $1,550 in value" assumes 2 cents a point and $21,500 of yearly spending
Amex's figure values every Aeroplan point at 2 cents, based on what most cardholders got on flight redemptions, and assumes $21,500 a year in purchases to reach $515 of annual earn.
Why it matters: Your value depends on your spending and on redeeming for flights at that rate.
Third-party payments earn 1xImpact level: Low
Bonus rates don't apply through payment services, phone card readers or marketplaces; those earn 1x
Purchases made through a third party's payment account or service, on a card reader attached to a mobile phone, or with an online retailer that sells other merchants' goods earn the base rate of 1x, as does any purchase whose merchant category can't be identified.
Why it matters: Pay the merchant directly to get the bonus rate.
Who This Card Is For
Great fit if you...
- Fly Air Canada and book directly
- Pay the full balance every month
- Want a free checked bag on Air Canada
Consider alternatives if you...
- Carry a balance
- Need travel medical insurance
- Hold or held another Aeroplan card
- Make foreign-currency purchases
Welcome Bonus History
Amex Aeroplan Card Welcome Bonus History
The Verdict
The Aeroplan Card earns 2x on Air Canada and 1.5x on dining and gives a free first checked bag on Air Canada flights.
It's a charge card with 30% interest on anything unpaid, has no travel medical insurance, and the fee rises to $150 in January 2027.
The Recommendation: Suited to Air Canada flyers who pay in full every month; compare the Aeroplan cards from TD and CIBC.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of October 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer