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Published January 8, 2024
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American Express Aeroplan Reserve Card Review 2024: Is It Worth It?

The American Express Aeroplan Reserve Card is a premium credit card that allows cardmembers to earn Aeroplan points with each purchase.

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5.0

NerdWallet Rating

Best for travellers who want a premium credit card.

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.

Learn more about how we evaluate cards.

    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.

    American Express® Aeroplan® Reserve Card

    American Express® Aeroplan® Reserve Card
    • Annual Fee
      $599
    • Interest Rates
      20.99% / 21.99%
    • Rewards Rate
      1.25x-3x Points
    • Intro Offer
      Up to 90,000 Points
    Card details
    • New American Express® Aeroplan®* Reserve Cardmembers can earn up to 90,000 Aeroplan points:
    • Earn 5,000 Aeroplan points for each Additional Aeroplan®* Reserve Card with an annual fee added to your account at time of application, up to a maximum of 2 approved Additional Cards. That could add up to 10,000 Aeroplan points
    • Plus, earn 7,500 Aeroplan points for each monthly billing period in which you spend $2,000 in net purchases on your Card for the first 6 months of Cardmembership. That could add up to 45,000 Aeroplan points
    • You can also earn 35,000 Aeroplan points when you spend $6,000 in net purchases between 13 and 16 months of Cardmembership
    • That’s up to $2,700 or more in value when you combine your welcome bonus points and card benefits.
    • Receive up to $100 CAD in statement credits every four years when a NEXUS application or renewal fee is charged to your American Express Aeroplan Reserve Card.
    • Highest Air Canada earn rate on an Aeroplan payment card in Canada: Earn 3X the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*.
    • Standard Earn Rate: Earn 2X the points on eligible Dining and Food Delivery purchases in Canada.
    • Earn 2X the points on eligible purchases with Rocky Mountaineer®**. Plus, you could receive a Complimentary Hotel Room Category Upgrade, on the first and last night, and a Complimentary Upgrade from SilverLeaf to GoldLeaf class of service when you book directly with Rocky Mountaineer using your Aeroplan Reserve Card.
    • Standard Earn Rate: Earn 1.25X the points on everything else.
    • Get through the airport quicker with Air Canada Priority Check-In, Air Canada Priority Boarding and Air Canada Priority Baggage Handling.
    • Receive one Annual Worldwide Companion Pass when you spend $25,000 in net purchases prior to your Card anniversary date; your Pass entitles you to buy an accompanying Air Canada economy class ticket for a companion at a fixed base fare from $99 to a maximum of $599 CAD (plus taxes, fees, charges, and surcharges).
    • Enjoy access to select Air Canada Maple Leaf Lounges™* and Air Canada Café™ in North America for you and a guest, with a same day ticket on a departing Air Canada or Star Alliance flight.
    • Enjoy your eligible first checked bag free for up to 9 people travelling on the same reservation on Air Canada flights.
    • Roll over any unallocated Aeroplan Elite™* Status Qualifying Miles and unused eUpgrade Credits to the following year to enjoy during your travels.
    • American Express® Experiences opens doors for you to access a number of special events, including special dining experiences, VIP parties, advance film screenings and more.
    • Get more from your travel experience at Toronto Pearson International Airport with:
    • Access to Pearson Priority Security Lane.
    • Complimentary valet service at the Express Park and Daily Park.
    • 15% discount on parking rates at the Express Park and Daily Park.
    • 15% discount on Car Care Services.
    • Get access to more than 1,200 Priority Pass™ airport lounges and enjoy an oasis of comfort before your flight, regardless of your airline or cabin class.
    • Insurance Coverage: whether you’re shopping nearby or travelling abroad, you can feel confident knowing you can be taken care of
    • American Express® Aeroplan®* Reserve Card is made from precision cut and engraved 13 g metal – it’s the perfect companion on your next exceptional journey
    • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

    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

    Drawbacks of the American Express Aeroplan Reserve Card

    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 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

    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:

    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

    Welcome offer
    Ongoing rewards
    Card value

    Earn up to 90,000 Aeroplan points in the first 16 months of card ownership. 

    • Earn up to 10,000 points when you add two additional cards with annual fees to your account (5,000 points per card).
    • Earn 7,500 points every month when you spend at least $2,000, for the first six months (up to 45,000 points).
    • Earn an additional 35,000 points when you spend at least $6,000 between 13 and 16 months of ownership. 
    • 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 $2,700 in the first 16 months. 

    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

    How to apply for the American Express Aeroplan Reserve Card

    The application process for the American Express Aeroplan Card is fairly straightforward:

    1. Visit the American Express Canada home page.
    2. Select the card you want to apply for.
    3. Read the product information, then read and agree to the card’s requirements.
    4. Provide your personal information, including your name, address and date of birth. Entering your Social Insurance Number is optional but encouraged.
    5. Enter your employment and income details.
    6. Confirm your information.
    7. Read and agree to the terms and conditions.
    8. Submit your application.

    American Express Aeroplan Reserve Card vs The Platinum Card from American Express

    The American Express Gold Rewards Card has a lower annual fee but shares several comparable benefits with the American Express Aeroplan Reserve Card. 

    American Express Aeroplan Reserve CardAmerican Express Gold Rewards Card
    Annual fees$599 ($199 for each additional paid card, or $0 for an additional no-fee card).$250 ($50 dollars for each additional card. One free additional card included).
    Minimum annual incomeNo public-facing income requirements.No public-facing income requirements.
    Rewards

    • 3x Aeroplan points on Air Canada bookings.

    • 2x points on dining and food delivery purchases.

    • 1.25x points on everything else.


    • 2x Membership Rewards points on travel.

    • 2x Membership Rewards points on gas, groceries and drugstores purchases.

    • 1x Membership Rewards points on everything else.

    • 1 point when you book through American Express Travel.

    Benefits

    • Airport lounge access (Maple Leaf Lounges and Priority Pass).

    • Travel perks, such as priority boarding on Air Canada flights.

    • Upgrades with Avis Car Rental.

    • Extensive suite of travel insurance.


    • Airport lounge access (Plaza Premium Lounges and Priority Pass).

    • $100 annual travel credit.

    • Complimentary benefits when you stay at Fine Hotels + Resorts.

    • Extensive suite of travel insurance.

    Reasons 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 typeTravel credit card.
    Fees and interest rates
    Annual fee$599.
    Regular/purchase APR20.99%.
    Penalty APR25.99% if you miss two payments within 12 months and 28.99% if you miss three payments within 12 months.
    Cash advance APR21.99%.
    Cash advance fee$2.75 per transaction.
    Balance transfer APR3%.
    Foreign transaction fee2.5% of the transaction amount.
    Rewards and benefits
    Intro offerUp to 90,000 Points.
    Reward earn ratesEarn 1.25, 2 or 3 Aeroplan points per $1 CAD spent, based on the type of purchase.
    Other perks

    • Priority travel perks, such as priority boarding for you and up to eight companion travellers when you fly Air Canada.

    • Complimentary access to Air Canada Maple Leaf Lounges and Air Canada Cafés in North America.

    • First checked bag is free on Air Canada flights.

    • $99 Priority Pass membership fee is waived for cardholders.

    • Perks at Toronto Pearson International Airport, such as complimentary valet and discounts on parking.

    • Complimentary upgrade to Avis President’s Club.

    Insurance coverage
    Travel accidentUp to $500,000.
    Travel medicalUp to $5 million per insured person per trip.
    Trip cancellationUp to $1,500 per insured person per trip.
    Flight delayUp to $1,000 for necessary accommodations, restaurant expenses and sundries.
    Baggage delayUp to $1,000 for essential clothing and sundry items.
    Lost or stolen baggageUp to $1,000 of coverage per trip for all insured persons.
    Hotel burglaryUp to $1,000 of coverage for personal items (excluding cash).
    Rental car theft/damageFor up to 48 days.
    Extended warrantyUp to 1 additional year.
    Purchase Protection90 days.

    Rating Methodology

    NerdWallet 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 about American Express Aeroplan Reserve Card

      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?

      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.

      Sources

      Works Cited
      1. JD Power, “J.D. Power 2023 Canada Credit Card Satisfaction Study,” accessed January 8, 2024.

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