The American Express AeroplanPlus Platinum Card has 3 sign up bonus points offers on 3 different links:
- 51,000 sign up bonus points with a referral
- 50,000 sign up bonus points without referral if you sign up before September 30, 2014
- 30,000 sign up bonus points on the regular American Express Canada website
Below are the highlights of the credit card:
- $499 annual fee
- $199 for supplementary cardholders, up to 9 cardholders
- Earn 30,000, 50,000 or 51,000 sign up bonus points when you spend $1,000 in the first 3 months
- Earn 15,000 Aeroplan points for a referral (which your friend or family member should be getting when you sign up for this card)
- Earn 1.25 Aeroplan point for every $1 spent on all purchases on the first $25,000 purchases annually
- Earn 1.5 Aeroplan point for every additional $1 on purchases over $25,000 annually
- Receive a 2-for-1 short-haul flight reward when you redeem 15,000 Aeroplan points
- Access to Air Canada Maple Leaf Lounges and Arrival Lounges
- Complimentary Hertz Rent-A-Car Gold Plus Rewards Membership and free Car Class upgrades
- Fast-tracked access to Fairmont President’s Club Platinum Membership
I’m not sure why the sign up bonuses are so different, but select accordingly. That being said, I will provide an analysis on the value that you can get out of this credit card.
Right off the bat, the $499 annual fee is what jumps out the most. Since I value Aeroplan points at 1.9 cents a piece, depending on how you leverage your points, the 50,000 sign up bonus gives us $950 in value. Which essentially covers the $499 annual fee. However, the question is whether it is worthwhile to retain the credit card beyond the first year.
I am inclined to say no, because why not cancel it and try signing up for it again down the road to get the sign up bonus again? But if you do decide to retain the credit card, you can get some value with it.
Receiving a 2-for-1 short-haul flight reward when you redeem 15,000 Aeroplan points is definitely great value if you can take advantage of this offer.
Access to the Maple Leaf Lounge is also valuable. For some reason, the website says that quantities are limited. You must present your American Express AeroplanPlus Platinum Card and a confirmed same-day departing ticket on Air Canada, Air Canada Express, Air Canada codeshare or Star Alliance flight to get access to a Maple Leaf Lounge. Unfortunately, supplementary AeroplanPlus Gold cardholders do not receive Maple Leaf Lounge or Arrivals Lounge access, which is a bummer.
If you have a Hertz Gold Plus Rewards account, you can receive a one-car-class upgrade at participating locations at time of rental, subject to availability.
Having this credit card gives you Platinum elite status with Fairmont President’s Club. This can be valuable if you stay at Fairmont hotels regularly.
I would not say that the perks are so amazing that it would justify the $499 annual fee, but if you can take advantage of as many perks as possible, then it can be worth it.