American Express Aeroplan Reserve Card Review 2024: Is It Worth It?
Jan 8, 2024If you regularly take to the skies with Air Canada, getting your money’s worth out of the American Express Aeroplan Reserve Card won’t take long.
The American Express Aeroplan Reserve Card is a premium metal credit card that allows cardmembers to earn Aeroplan points with each purchase. Air Canada’s Aeroplan is one of the country’s most popular loyalty programs for travel rewards. Points can be redeemed for a variety of items, including flights, hotel stays, car rentals and merchandise.
View details
American Express Aeroplan Reserve Card full review
The American Express Aeroplan Reserve Card comes with a hefty price tag, but the impressive suite of travel perks may make it worth it.
Benefits of the American Express Aeroplan Reserve Card
Extensive travel perks, including a free first checked bag and priority check-in services for you and up to eight travelling companions; access to select Air Canada Maple Leaf Lounges; and complimentary valet service at Toronto Pearson International Airport.
Robust suite of travel protection benefits. The insurance provided, which includes lost baggage, emergency medical, trip cancellation and hotel burglary coverage, should provide peace of mind while you’re on the road — or in the air.
Access to Amex Experiences™, a collection of special dining, shopping and wellness events, and American Express Front Of The Line, which helps cardmembers score presale and reserved tickets for concerts or the next big game.
Drawbacks of the American Express Aeroplan Reserve Card
American Express cards may not be as readily accepted by retailers as Visa and Mastercard.
The card’s annual fee of $599 may be too high for some. In contrast, the American Express Aeroplan card offers fewer travel perks but charges a lower annual fee.
The 3x the Aeroplan Points earn rate on Air Canada and Air Canada Vacations only applies if you book directly through the airline. Book through a third-party site or a travel agent and those extra points won’t be awarded.
Who should get the American Express Aeroplan Reserve Card?
Because of the perks involved, such as airport lounge access, priority boarding and 3x the Aeroplan points on Air Canada purchases, the American Express Aeroplan Reserve Card is best suited for frequent Air Canada travellers who will be able to squeeze enough value from the card to offset its steep annual fee.
Is American Express Aeroplan Reserve Card worth it?
If you regularly take to the skies with Air Canada, getting your money’s worth out of the American Express Aeroplan Reserve Card won’t take long.
Take a few flights with a travelling companion, for example, and you could save hundreds of dollars on checked bags and lounge access. And if you’re a regular Air Canada traveller, the increased earn rate on direct purchases with the airline can really boost your Aeroplan point totals.
The Amex Aeroplan Reserve Card’s included insurance coverage is expansive, too, and can be invaluable if something goes awry the next time you’re on the road.
American Express customer ratings
High in customer satisfaction: American Express ranks second out of 13 issuers in J.D. Power’s 2024 Canada Credit Card Satisfaction Study.
Low Trustpilot rating: American Express received 1.5 out of 5 possible stars based on over 4,400 customer reviews, as of this writing.
Low Better Business Bureau rating: American Express received 1.09 out of 5 possible stars based on more than 500 customer reviews, as of this writing.
American Express Aeroplan Reserve Card eligibility
Who qualifies for the American Express Aeroplan Reserve Card?
To apply for the American Express Aeroplan Reserve Card, you must:
Be at least the age of majority in your province.
Be a Canadian resident.
Have a credit file in Canada.
There is no publicly available minimum income requirement for the American Express Aeroplan Reserve Card.
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for.Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.
American Express Aeroplan Reserve Card rewards
Earn up to 85,000 Aeroplan points in the first 13 months of card ownership.
Earn 60,000 points after spending $7,500 in purchases on your Card within the first 3 months.
Earn an additional 25,000 Aeroplan points when you spend $2,500 in purchases in month 13. (Note that this requires paying the annual fee for a second time.)
3x Aeroplan points on Air Canada bookings.
2x points on dining and food delivery purchases.
1.25x points on everything else.
Combining the welcome offer and travel benefit that comes with the card, American Express estimates the value of the card can exceed $2,600 in the first 13 months.
However, this calculation includes benefits and discounts only available at Toronto Pearson airport, and it does not take into account the card’s annual fee, which you would pay twice in order to receive the full welcome bonus.
Point value breakdown
NerdWallet searched more than 75 flights in 2021 and 2022 to determine the average value for Air Canada flights. Based on our analysis, the average value of one Aeroplan point is worth 2.23 cents.
More specifically, you can expect to get around
1.69 cents in value per Aeroplan point for economy class awards on Air Canada, and2.81 cents in value per Aeroplan point for business class awards on Air Canada flights.
How to apply for the American Express Aeroplan Reserve Card
The application process for the American Express Aeroplan Card is fairly straightforward:
Visit the American Express Canada home page.
Select the card you want to apply for.
Read the product information, then read and agree to the card’s requirements.
Provide your personal information, including your name, address and date of birth. Entering your Social Insurance Number is optional but encouraged.
Enter your employment and income details.
Confirm your information.
Read and agree to the terms and conditions.
Submit your application.
American Express Aeroplan Reserve Card vs The Gold Card from American Express
The American Express Gold Rewards Card shares several comparable benefits with the American Express Aeroplan Reserve Card but has a lower annual fee.
Rewards breakdown
Rewards breakdown
NerdWallet's take
NerdWallet's take
Card details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card detailsReasons you might want a different card
The American Express Aeroplan Reserve card provides an excellent suite of benefits, but not everyone will be comfortable paying the high annual fee. And if you don’t dine out often, you may not get much value from the card’s elevated earn rates on restaurant and food delivery purchases.
American Express Aeroplan Reserve Card facts
American Express Aeroplan Reserve Card | |
|---|---|
Card type | |
Fees and interest rates | |
Annual fee | $599. |
Regular/purchase APR | 21.99% |
Penalty APR | 25.99% if you miss two payments within 12 months and 28.99% if you miss three payments within 12 months. |
Cash advance APR | 21.99%. |
Cash advance fee | $2.75 per transaction. |
Balance transfer APR | Up to 3% of the amount of each balance transfer. |
Foreign transaction fee | 2.5% of the transaction amount. |
Rewards and benefits | |
Intro offer | Up to 85,000 Points. |
Reward earn rates | Earn 1.25, 2 or 3 Aeroplan points per $1 CAD spent, based on the type of purchase. |
Other perks |
|
Insurance coverage | |
Travel accident | Up to $500,000. |
Travel medical | Up to $5 million per insured person per trip. |
Trip cancellation | Up to $1,500 per insured person per trip. |
Flight delay | Up to $1,000 for necessary accommodations, restaurant expenses and sundries. |
Baggage delay | Up to $1,000 for essential clothing and sundry items. |
Lost or stolen baggage | Up to $1,000 of coverage per trip for all insured persons. |
Hotel burglary | Up to $1,000 of coverage for personal items (excluding cash). |
Rental car theft/damage | For up to 48 days. |
Extended warranty | Up to 1 additional year. |
Purchase Protection | 90 days. |
Methodology
BACK TO TOPNerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation methodology include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.
Frequently asked questions
Does the American Express Aeroplan Reserve Card have lounge access?
Does the American Express Aeroplan Reserve Card have lounge access?
The American Express Aeroplan Reserve Card offers complimentary access to Maple Leaf Lounges in North America, as well as free membership to Priority Pass.
What is the annual fee for the American Express Aeroplan Reserve Card?
What is the annual fee for the American Express Aeroplan Reserve Card?
The American Express Aeroplan Reserve Card’s annual fee is $599. Additional cards cost $199 each. Additional no-fee cards are also available. Additional cardmembers must be at least 13 years old.
DIVE EVEN DEEPER
