Recently, there was a huge rebrand of the Aeroplan credit cards line up and a change in how the Aeroplan points can be used. The CIBC Aeroplan Visa Infinite Card replaced the CIBC Aerogold Visa Infinite. Here’s my CIBC Aeroplan Visa Infinite Card review.
As you may know I am trying to get over 400,000 Aeroplan points for four seats for a trip to Asia sometime next year. I’m not sure if this is feasible, getting at least two tickets would be nice and I think is a more realistic goal. I signed up for this card to add another 20,000 Aeroplan points.
CIBC Aeroplan Welcome Offer
When you make your first purchase, you can get 10,000 Aeroplan points.
You can earn an additional 10,000 Aeroplan points if you spend $1000 within the first 4 statement periods (or roughly 4 months).
In addition, if you $1000 within the first 4 statement periods, you can get a Buddy Pass. This is a free companion ticket with a purchased ticket for anywhere in North America. The only thing you have to pay for are the taxes and third-party charges.
Aeroplan was converting the Buddy Pass to 30,000 Aeroplan points recently. However, you are only allowed ONE Buddy Pass in a 12 month period if you opened a credit card of the same type. For example, if you already have a TD Aeroplan Visa Infinite card and received a Buddy Pass from there within the past 12 months, you will not get another Buddy Pass (this is our case).
The Buddy Pass expires after 12 months.
CIBC Aeroplan Annual Fee
The annual fee is $139 per year and each additional card is $50 per year.
At the time of application there was an annual fee rebate for the first year if you are approved. The annual fee rebate is applied within two statement periods.
Eligibility Criteria Requirement
The minimum annual income is $60,000 individual or $100,000 for the household.
CIBC Aeroplan Benefits
- You earn 1.5 Aeroplan miles for every $1 spent on gas, groceries and bookings directly on Air Canada
- 1 Aeroplan point for everything else
- Earn double points at 150 Aeroplan partners
- Also you can earn 1 Aeroplan point for every $4 spent on a CIBC Global Money Transfer
- In addition, your Aeroplan points won’t expire accidentally since you have an Aeroplan credit card open
CIBC Aeroplan Visa Infinite INsurance Benefits
The Visa Infinite cards usually have good benefits attached to the card, and the CIBC Aeroplan Visa Infinite card is no exception.
There is out of province travel medical insurance with this card. For the CIBC Aeroplan visa medical coverage, there is 15 day coverage period if the cardholder is 64 years of age or younger, and 3 day coverage if the person is age 65 and over.
There are also standard Visa Infinite card insurance benefits like:
- Trip Cancellation and Trip Interruption Insurance
- Flight delay and baggage insurance
- Car Rental and Collision loss insurance
- Mobile Device Insurance
- Common Carrier Accident Insurance
- Purchase Security and Extended Protection Insurance
- Hotel Burglary Insurance
This card looks sleeker compared to the predecessor. The card is similar to the TD Aeroplan Visa Infinite and is an easy way to add more Aeroplan points.
Compared to the TD Aeroplan Visa Infinite, this card allows you longer time (about a month extra) to complete the minmum spend to achieve the welcome bonus.
Since it is First Year Free, signing up for this card is a no brainer for me, though you just have to make sure you spend $1000 within the first four months to reap the Aeroplan point benefits.
It will be a definite churn card and I will cancel once I get my Aeroplan points.
Hope you found this CIBC Aeroplan Visa Infinite card review helpful.
Do you have the CIBC Aeroplan Visa Infinite card? What is your review of the card?
GYM is a 30 something millennial interested in achieving financial freedom through disciplined saving, dividend and ETF investing, and living a minimalist lifestyle. Before you go, check out my recommendations page of financial tools I use to save and invest money. Don’t forget to subscribe for blog updates, a free dividend yield spreadsheet, and the free Young Money Bootcamp eCourse.