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American Express Aeroplan Reserve Card Review 2024: Is It Worth It?

Dec 10, 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.
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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.

Annual fee$599
Regular APR21.99% / 21.99%
Rewards rate1.25x-3x Points
APPLY NOW
on American Express' website

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.)

Point value breakdown

NerdWallet searched more than 50 flights in 2024 to determine the average value for Air Canada flights. Based on our analysis, the average value of one Aeroplan point is worth 1.60 cents.

More specifically, you can expect to get around

  • 1.29 cents in value per Aeroplan point for economy class awards on Air Canada, and 1.80 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:

  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 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.

Annual fee$599
Regular APR
21.99% / 21.99%
Rewards rate
1.25x-3x Points
Sign-up bonus
Up to 85,000 Points
Recommended credit score660-724
APPLY NOW
on American Express' website

Annual fee$250
Regular APR
21.99% / 21.99%
Rewards rate
1x-2x Points
Sign-up bonus
Up to 60,000 Points
Recommended credit score660-724
APPLY NOW
on American Express' website

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 type

Travel credit card.

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

  • 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 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 TOP

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


The American Express Aeroplan Reserve Card offers complimentary access to Maple Leaf Lounges in North America, as well as free membership to Priority Pass.

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.