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The Aeroplan® Credit Card is getting a new increased welcome bonus. Starting January 26, 2023, new applicants to this credit card can net a whopping 100,000 Aeroplan points.
Welcome Changes
New applicants now have the opportunity to earn 60,000 points after spending $4,000 on purchases in the first three months, plus 40,000 points after spending $20,000 on purchases in the first 12 months.
Prior to this increase, the welcome bonus for this card was 70,000 points after spending $3,000 on purchases within the first three months after opening an account. This is a 30,000 point difference in welcome bonus, almost enough for a one way ticket from Miami to Paris.
Other benefits included in the Chase Aeroplan Credit Card include:
- A $100 credit toward Global Entry, TSA Precheck or NEXUS trusted traveler programs every four years.
- Your first checked bag is free, including for up to eight people on the same reservation.
- 25K Elite Status with Air Canada for the remainder of the calendar year plus the full following year, effectively giving you priority check in, early boarding and upgrades when flying with Air Canada
The rewards earning structure on this card remains unchanged, as follows:
- 3 points per dollar spent on dining, takeout and eligible delivery services, grocery stores and each dollar spent directly with Air Canada including vacations and cruises and 1 point per dollar for all other eligible purchases
This card’s annual fee remains $95, and there are no foreign transaction fees when you use the card abroad.
You will receive an additional 500 bonus Aeroplan points for every $2,000 dollars spent each calendar month, up to 1,500 points per month. Points earned through the Chase Aeroplan credit card do not expire provided you keep your credit card account open.
You can maintain your Aeroplan 25K Status if you spend a minimum of $15,000 on your credit card during a calendar year. If you already have status with Air Canada, spending $50,000 on your credit card during a calendar year will earn you a one level up on your existing status.
Pay Yourself Back
The Chase Aeroplan Card recently launched a Pay Yourself Back option that you can take advantage of to offset your travel purchases. This enables you to leverage your Aeroplan point balance and redeem it towards a statement credit against travel purchases within 90 days of that purchase being made. Purchases you can Pay Yourself Back within the travel category include airfare on any airline, hotels, taxis, trains, ferries, bridges and more.
The conversion rate for Aeroplan points is 1.25 cents per point. If you were to convert 100,000 points and pay yourself back for travel purchases, you would be able to offset a total of $1,250 in statement credits. You do not necessarily need to redeem all your points at the same time and could instead choose to redeem for smaller, more frequent purchases in the travel category.
Using Aeroplan Points
Air Canada’s loyalty program, Aeroplan, allows you to book flights on more than four dozen partners, making Aeroplan points some of the most valuable and versatile in the market. The easy to use interface on its website makes searching for, redeeming and booking flights online convenient and user-friendly.
Using Aeroplan points to redeem for airfare on Air Canada or its partners can yield significantly more value than 1.25 cents per point. For example, you can book a one-way business-class ticket from New York (JFK) to Frankfurt, Germany (FRA) for just 60,000 Aeroplan miles. This same itinerary booked with cash would set you back $1,230 based on half of a round-trip ticket, giving you a value of more than 2 cents per point—a significant increase over the 1.25 cents per point value you would obtain by using the Pay Yourself Back feature.
Bottom Line
If you are in the market for a new travel rewards credit card, this new Chase Aeroplan credit card with an increased welcome bonus makes a compelling case for a slot in your wallet. Not only can your points be used to offset travel related charges but also be used to book travel directly on Air Canada or any of its partner airlines.
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