- $120 annual fee
- $50 for additional cardholders
- Earn 15,000 bonus Aeroplan points upon first purchase
- Earn 1.5 Aeroplan point for every $1 spent on gas, grocery and drug store purchases
- Earn 1 Aeroplan point for every $1 spent on all other purchases
- Earn 1 free checked bag when travelling on an Aeroplan reward flight
- Earn 1 annual Maple Leaf Lounge guest pass when travelling on an Aeroplan flight reward operated by Air Canada
The $120 annual fee is an obvious deal breaker considering that the American Express AeroplanPlus Gold Card waives its first year annual fee and has a potential 30,000 sign up bonus upon referral. Some people seem to have been able to get the first year annual fee waived though the phone and other restrictions apply. If you are one of those people, feel free to share that experience with us.
That being said, the $120 fee is still worth it the first year considering the 15,000 sign up bonus and the 2-for-1 round trip short-haul promotion that expires on May 9, 2014. This offer is valid only to new TD Aeroplan Visa Infinite Privilege accounts. The 2-for-1 offer must be redeemed by December 31, 2014. The primary cardholder who redeems for a short-haul reward (round-trip ClassicFlight on Air Canada, Air Canada Express and Air Canada rouge to anywhere in North America) in either Economy Class or Business Class, the companion will travel for free on the same itinerary. Aeroplan booking fee will be waived, but taxes, fees and surcharges will still apply.
The above two sign up bonus perks will easily cover the $120 fee the first year. The question is whether it is worth retaining this credit card beyond the first year. The value of the $120 annual fee is 1 free checked bag on a reward flight and an annual Maple Leaf Lounge guest pass during reward flights. Since, there are only so many reward flights that we will take in a year. Therefore, aside from the sign up bonus, there are virtually no reasons for me to keep this credit card beyond the first year.
Granted that this credit card is an upgrade over the CIBC Aeroplan Gold and Infinite credit cards, it also means that they might not be improving this credit card for the time being, unless they want to catch up to AMEX, which I think still offers a superior product.
If you can take advantage of sign up bonus and the 2-for-1 round trip short-haul promotion, then don’t forget to sign up before May 9, 2014. Aside from that, I wouldn’t want to keep this credit card beyond the first year.