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Mr. Loonie
American Express® Aeroplan® Reserve Card

American Express® Aeroplan® Reserve Card

7.6
Good
Expert Score · 10 reviews How we score

Best for: Frequent Air Canada flyers who want lounge access and the most points on Air Canada spending

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Yours:
Your own amounts, saved on this device only
Year one
$1,596
Every year after
$396

Ranked #10 of 176 for year one. See the list

See how we worked it out
Welcome offer you’d get
$1,200
All of year one’s offer. Up to 85,000 Aeroplan points.
Annual fee
$599 a year
Apply now on American Express’ site (opens in a new tab)
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from American Express’ site. Banks can update terms at any time, so give them a quick look before you apply. Source

Is it for me? What you’d earn Welcome offer Can I get it? Fees Similar cards
2 quick questions

Is it for me?

Do you spend $850 or more a month on flights?

Do you pay your card off in full most months?

Answer the 2 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: 3 points per $1 on flights At our value for these points, that’s about 6% back.
  • Good: Welcome offer up to 85,000 Aeroplan points About $1,700 at our value for these points.

Watch for

  • Watch for: $599 a year You need about $850 a month on flights to earn it back.
  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d earn

With typical spending of $2,500 a month.

Aeroplan points valued at 2¢ each.

  • Groceries $240
    1.25 points per $1 · 2.5% back $800 a month · 12,000 Aeroplan points a year
  • Restaurants $120
    2 points per $1 · 4% back $250 a month · 6,000 Aeroplan points a year
  • Gas $75
    1.25 points per $1 · 2.5% back $250 a month · 3,750 Aeroplan points a year
  • Recurring bills $75
    1.25 points per $1 · 2.5% back $250 a month · 3,750 Aeroplan points a year
  • Travel $45
    1.25 points per $1 · 2.5% back $150 a month · 2,250 Aeroplan points a year
  • Everything else $195
    1.25 points per $1 · 2.5% back $650 a month · 9,750 Aeroplan points a year
  • Foreign currency $45
    1.25 points per $1 · 2.5% back $150 a month · 2,250 Aeroplan points a year
For you Year one Later years
Points you earn39,750 Aeroplan points a year, at 2¢ each $795 $795
Welcome offer60,000 Aeroplan points you’d reach $1,200 $0
Annual fee −$599 −$599
Foreign currency fee2.5% on $1,800 a year −$45 −$45
Lounge visits2 visits at $45 $90 $90
Travel medical insurance1 trip at $50 $50 $50
Rental car damage cover1 rental of 3 days at $35 a day $105 $105
Total $1,596 $396

Rows are rounded to the dollar. Insurance counts at what the same cover costs on its own, and only pays when you charge the trip, rental or phone to the card.

What counts in each category
Flights
3 points per $1 Bought directly from Air Canada, including Air Canada Vacations
Restaurants
2 points per $1 Dining in Canada
Food delivery
2 points per $1 In Canada
Everything else (base rate)
1.25 points per $1
  • Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $5,000 in eligible net purchases charged to your Card.
  • Receive one Annual Worldwide Companion Pass when you spend $25,000 in net purchases prior to your Card anniversary date.
How Aeroplan points work, and why 2¢

We count Aeroplan points at 2¢ each, a typical value when you use them well. Depending on how you use them, they’re usually worth 0.7¢ to 6¢.

We set one value per points program and use it on every card in that program, so you can compare points cards and cash back cards on the same scale.

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Checked on Nov 8, 2026. Source

Welcome offer

Can your spending get the full offer?

At $2,500 a month, here’s when you’d reach each step.

  1. 1

    60,000 Aeroplan points · about $1,200

    Spend $7,500 in your first 3 months.

    You’d reach it in month 3.

    • On purchases within the first 3 months.
    • Earn an additional 40,000 points after you spend a total of $45,000 in your first 12 months of Cardmembership
    • Plus, earn 40,000 points when you make a purchase between 15 and 17 months of Cardmembership
  2. 2

    25,000 Aeroplan points · about $500

    Keep the card for a year.

    • spend $2,500 on your card; month 13 of Cardmembership

Offer end date not published.

Offer checked on Nov 8, 2026. Source

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.

What critics say

Other reviewers on this card

7.6
Good
Expert Score How we score
  • Frugal Flyer (opens in a new tab) May 2026

    “As one of the eleven co-branded Aeroplan credit cards in Canada, the Amex Reserve card definitely makes a strong value proposition in what it offers to cardholders. Based on the welcome bonus versus the annual fee alone, this might be a great card to pick up if you can support the monthly spending requirements. Additionally, if you fly Air Canada a fair bit, you might find value in keeping this card as part of your Amex strategy.”

  • NerdWallet (opens in a new tab) Nov 2025
    10

    “This top-shelf Aeroplan card offers 3x points on purchases made with Air Canada — the highest Aeroplan earn rate on the market. Comprehensive insurance coverage, annual companion passes and priority airport services add to the luxe factor, but the hefty $599 annual fee may be more than some cardholders are willing to spend. Best for: Air Canada enthusiasts who want to maximize their Aeroplan point accumulation.”

  • Yore Oyster (opens in a new tab) Jan 2024

    “American Express Aeroplan Reserve Card offers substantial benefits and perks to its cardholders. Individuals who frequently fly in Air Canada can take advantage of the points back. You can acquire points you can redeem for rewards while you spend on eligible purchases on your travel.”

  • Money.ca (opens in a new tab) Aug 2023
    8

    “The American Express®Aeroplan®* Reserve Card is definitely a contender when it comes to the best travel credit cards. The welcome bonus right now is a huge draw and the annual fee, while high, is offset by the great travel perks and benefits. As a travel card, we don’t love that it’s limited to Air Canada®* and Air Canada Vacations®* for earning higher points. If you are a loyal Air Canada customer, however, it can be quite lucrative.”

  • Rewards Canada (opens in a new tab) May 2023

    “If Air Canada and Aeroplan are your go to airline and loyalty program and you want extra benefits when you fly with them, this card makes an excellent choice. With the best earn rate for Air Canada purchases, amazing benefits and a full suite of insurance coverage this card has you covered. You'll access Maple Leaf lounges in major Canadian cities and several US cities, get priority boarding and more. In a nutshell, you are getting elite status like benefits without the need for being an elite status member.”

  • SAVVY New Canadians (opens in a new tab) Sep 2022
    8

    “If you love to travel and are a loyal Air Canada customer, the American Express Aeroplan Reserve Card might be for you. There is a generous welcome bonus along with many chances to earn and redeem Aeroplan points while traveling. However, there is a steep annual fee, and you need to make sure you are able to pay your card on time every month. If you do not, your interest rate will increase for the next 12 months.”

What cardholders say

Ratings from people with this card

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Insurance and perks

What comes with it

  • Car rental damage Included
  • Extended warranty Included
  • Purchase protection Included
  • Travel accident Included
  • Travel medical $5,000,000 per person
  • Trip cancellation Included
  • Trip interruption Included
  • Flight delay Included
  • Baggage delay Included
  • Lost baggage Included
  • Hotel burglary Included
  • Lounges: Maple leaf Unlimited visits
  • Enjoy access to select Air Canada Maple Leaf Lounges and Air Canada Cafes in North America
  • Priority Airport Check-In, Priority Boarding, and Priority Baggage Handling when you fly with Air Canada
  • Get prioritized on the standby waitlist for an Air Canada flight and higher priority when you request an eUpgrade
  • Free First Checked Bag
  • Expedited Security Lane
  • Get complimentary valet service at the Express Park and Daily Park at Toronto Pearson International Airport
  • Get 15% off parking rates at the Express Park and Daily Park at Toronto Pearson International Airport
  • Get 15% off Car Care Services at Toronto Pearson International Airport
  • Exclusive Access to Amex Experiences
  • Reach Elite Status Faster
  • Front Of The Line®
  • Trip Cancellation Insurance
  • Trip Interruption Insurance
  • Flight Delay Insurance
  • Baggage Delay Insurance
  • Lost or Stolen Baggage Insurance
  • Hotel Burglary Insurance
  • Free Uber Pass Membership for 12 months
Coverage limits

We haven’t recorded the coverage limits for this card yet. Read American Express’ insurance certificate before you count on any coverage.

Not included

Not listed for this card: mobile device.

Fees and interest

What it costs

Annual fee
$599 a year
Purchase interest
21.99%
Cash advance interest
21.99%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
$199
Cash advance fee
3%, Minimum of $0.75
Over-limit fee
None
Late payment fee
None
Source
Issuer page

Interest rates

Source
Issuer page

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With typical spending. This card: $1,596 year one, $396 every year after.

See all cards ranked for your spending

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the American Express® Aeroplan® Reserve Card?

$599 a year. Each extra card costs $199.

How much is the American Express® Aeroplan® Reserve Card welcome offer worth?

Up to 85,000 Aeroplan points, about $1,700. You get it in 2 steps: 60,000 Aeroplan points after you spend $7,500 in the first 3 months; 25,000 Aeroplan points on your first card anniversary.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

21.99% on purchases. Cash advances are 21.99%.

Does it include insurance?

It lists extended warranty, purchase protection, trip cancellation insurance and trip interruption insurance. Read the insurance certificate for the limits.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$1,596
year one for you
Apply now on American Express’ site (opens in a new tab)
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