Chase Aeroplan Card Review – Great for Those Seeking Status

MtM Review Score

REVIEW OVERVIEW

Features
Welcome Offer
Long-Term Keeper
Earning Structure

Quick Take

For those interested in Aeroplan status with Air Canada, this card is super powerful. For others, it can still be a keeper for the low annual fee. Overall, we think Chase did a good job on its latest airline credit card.
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Chase Aeroplan Card Review - Great for Those Seeking Status

Chase Aeroplan Card Review – Great for Those Seeking Status

Our detailed Chase Aeroplan Card review will cover this newer card for its perks and benefits, earning structure, welcome offer, and then judge whether its a long-term keeper or not. We will also cover how to use the welcome offer, since it’s a bit unique, and the application rules on who is eligible for the new Chase Aeroplan Card.

Welcome Offer

The current welcome offer for the launch of the Chase Aeroplan Card is as follows:

  • Earn 50,000 points after you spend $3,000 in your first 3 months of being a card member.
  • Earn up to an additional 51,000 points through 10x total points on travel and dining in your first 6 months.
  • Annual fee of $95 is NOT waived the first year.
  • Learn More

Welcome Offer Restrictions & Application Rules

Before moving further into our review of the Chase Aeroplan Card, we should understand the rules for applying for and opening the card.

Most importantly, this card should be subject to the Chase 5/24 rule. This means that if you have 5 or more new credit card accounts showing on your credit report from the last 24 months, you likely will not be approved for this card.

Additionally, Chase has a 2/30 rule. Under this rule, you cannot be approved for more than 2 credit cards with Chase in a rolling 30-day period.

Since this is a new credit card on the market, typical restrictions from banks like “you cannot earn this welcome offer if you previously…” will not apply to anyone. For a full breakdown on application rules from Chase, read our analysis here.

If you believe you meet all of these application rules, then you should be eligible to apply for this card.

Chase Aeroplan Card Review - Great for Those Seeking Status

Earning Structure

The Chase Aeroplan Card has the following earning structure:

  • 3x Aeroplan points per dollar spent on dining, including takeout and eligible delivery services
  • 3x Aeroplan points per dollar spent at grocery stores
  • 3x Aeroplan points per dollar spent directly with Air Canada
  • 1x Aeroplan point per dollar spent on all other purchases
  • Learn More

Additionally, you can earn monthly spending bonuses:

  • 500 bonus Aeroplan points for every $2,000 spent in a calendar month
  • Maximum of 1,500 bonus Aeroplan points per month (requires $6,000 in spending)
  • If you spent those $6,000 in 3x earning categories, you would finish the month with 19,500 Aeroplan points. That’s a 3.25x earning rate.

This card earns Aeroplan points. Aeroplan is the loyalty program of Air Canada, and you can read our analysis of this program here. You can also read an analysis of great uses of Aeroplan miles in this article.

You can compare the earning on the Chase Aeroplan Card to earning opportunities from other cards in our list of credit card bonus categories.

Cardmember Perks

The Chase Aeroplan Card comes with the following built-in perks and benefits:
  • No foreign transaction fees.
  • First checked bag is free on Air Canada flights for the primary cardmember and up to eight other travelers on the same itinerary.
  • $100 credit towards Global Entry, TSA PreCheck, or NEXUS–available once every four years.
  • World Elite Mastercard benefits.
  • Travel protections for flight delays, baggage, and more.
  • Aeroplan Elite 25K status for the remainder of the first calendar year in which you have the card, plus the following calendar year. This status includes perks like priority check-in, early boarding, upgrades, and more on Air Canada flights.
  • Carbon offset benefit: Aeroplan will purchase carbon offsets when the cardmember redeems Aeroplan points for Air Canada flights.
Additionally, there are spending-based perks:
  • Earn Aeroplan Elite 25K status in ensuing years after spending $15,000 on the card in a calendar year.
  • Earn Aeroplan Elite 35K status after spending $50,000 on the card in a calendar year.
  • Spending milestones kick in at $100,000, $250,000, $500,000, and $750,000. These provide perks like 50% off Priority Rewards. The value of these perks will vary based on your elite status level. Elite 25K & Elite 35K members can use these for US and Canada economy flight redemptions. Super Elite members can use these rewards on business class awards worldwide.

Anyone who spends $1 million on the card in a calendar can earn “GLOBAL+1”. This is a worldwide award-redemption-companion-pass hybrid. It offers a 100% return on all points redeemed in all cabins for the rest of the applicable year, plus the entire following year. This applies to the cardmember’s traveling companion. You need to spend a lot to earn this perk, but the value of getting a companion pass that works for all classes is pretty amazing.

Summary: you can earn monthly spending rewards after every $2,000 and can earn annual spending rewards at $100k, $250k, $500k, $750k, and $1 million.

Perk Coming Soon: Pay Yourself Back

This perk is “coming soon”, but there’s no definite date that we know of at this time. Once active, you will be able to pay yourself back using Aeroplan points towards travel purchases from any airline, rental car, or hotel. Points redemptions will be at 1.25¢ per point. That’s a bit low for what Aeroplan points are normally worth, but flexibility is always good, and this may be useful for situations where you made a reservation in a way that didn’t allow for paying with points up front.

There’s a 50,000 points annual limit on this feature.

Just to be clear, this is not the typical Chase “Pay Yourself Back“. That program has different redemption categories and applies to cards that earn Chase Ultimate Rewards.

Annual Fee

The Chase Aeroplan Card has a $95 annual fee. This is NOT waived during the first year.

Welcome Offer Value – Minimum $1,000 (Net $905)

It is difficult to put an exact value on this welcome offer. The value of the Flight Reward Certificate can vary greatly, depending on how you use it. It will also depend on if you can maximize the 10X earning opportunity for travel and dining. The card is currently ranked as the most valuable Chase personal card in terms of the welcome offer, assuming everything is maximized.

Welcome Offer Details

You will receive a Flight Reward Certificate after spending $3,000 within the first 3 months after opening the Chase Aeroplan Card. The certificate is worth a maximum of 50,000 points.

Each certificate is valid for an award redemption that costs 50,000 points or less. If it’s “less”, you don’t get a credit for the remaining value. It’s used and done. For awards that cost more than 50,000 points, you can add points from your loyalty account to pay the difference. Lastly, note that each certificate is valid for one passenger. You cannot make a redemption worth 25,000 points per passenger for 2 passengers, thinking this is worth 50,000 points. Each certificate is only valid for one person.

Thus, how you use the certificate can make the welcome offer worth a lot or not worth very much. You also need to use the certificates before you close the card, or the certificates will go away. Pay attention to that. As long as you have the card, the certificates remain valid. There is no expiration.

Examples for Using the Welcome Offer Certificates

In this article, I gave some examples of round-trip business class flights to South America. You could do that for one person, using a certificate in each direction. Doing this would make the welcome offer worth over $5,000.

You could take a round-trip vacation to anywhere in North America using the certificate, as long as you fly in economy (anywhere) or premium economy (short and medium distances). This would make your welcome offer worth around $1,000.

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Welcome Offer Math

Obviously, if you don’t plan how you use the Flight Reward Certificates, they could be worth far less. Assuming you make a decent attempt on maximizing their value, then the welcome offer from the Chase Aeroplan Card could be worth around $1,000 — or more. After subtracting the annual fee ($95), the residual value will be $905.

This also doesn’t factor in the bonus for anyone who was on the waiting list for this card (see above). That would add additional value.

Analysis of Perks

The perks on the Chase Aeroplan Card look OK at first, but they become really interesting after further inspection. You get a first checked bag and some travel protections, which are standard on airline credit cards. You likely have these perks and “no foreign transaction fees” on tons of cards. The World Elite Mastercard perks are also nice. See our guide to those benefits here.

Where the benefits become interesting is that you can not only use the $100 credit for TSA PreCheck or Global Entry but also for NEXUS, which is a cross-border program in North America. This makes sense, since this is a credit card issued in the U.S. but affiliated with a loyalty program in Canada. Using your $100 statement credit for this program could be beneficial, since many people likely have Global Entry or TSA PreCheck already, via other credit cards with these perks.

The real perks are for those who want Aeroplan status. You get Aeroplan Elite 25K status for the remainder of the first calendar year in which you open the card, plus the following calendar year. Wise applicants will apply for the card early in one year to enjoy this benefit through the end of the following year, netting nearly 2 years of elite status.

In following years, you can spend your way to status, as well as earning monthly and yearly bonuses on the card. Anyone seeking Star Alliance elite status will likely be a fan of this card.

Long Term Keep or Cancel

After the initial benefits wear off and you’ve used the Flight Reward Certificates, is the Chase Aeroplan Card worth keeping year over year? That question comes down to answering this: do you get more than $95 in value out of this card?

If you aren’t pursuing Aeroplan elite status, plus the fact you can only use the $100 statement credit for the government travel programs every few years, you may not see much value in this card. Do you use any of the World Elite Mastercard benefits, like warranty or purchase protections?

If you aren’t using any of the benefits at all, then this card is obviously not worth keeping. However, for anyone seeking Star Alliance status or who sees benefits in accumulating Aeroplan points for award redemptions–regardless of status–this card is worth keeping. Justifying the $95 annual fee against these perks is simple. $95 is in line with other similar cards available in the marketplace.

Chase Aeroplan Card Review – Bottom Line

The Chase Aeroplan Card has a low annual fee and perks that make it worth keeping year over year. Additionally, the earning structure provides 3x earning to allow you to accumulate Aeroplan points quite easily.

The welcome offer does require some planning to truly maximize it, and some people may waste it on low-value redemptions. However, it should be worth $1,000 or more, if you put a little effort into it and can maximize the 10X earning opportunities.

Those seeking status with Air Canada or in the Star Alliance program will love this card. You can enjoy automatic status for nearly two years after opening the card and then maintain status via spending in future years.

The Chase Aeroplan Card offers ongoing benefits and an earning structure that easily justify the $95 annual fee, plus excellent perks for anyone interested in spending bonuses or status. Casual users will keep the card, and those seeking status will love the card.

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2 COMMENTS

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2 COMMENTS

  1. What does the 100% redemption rebate mean? If I spend $1M on the card, I can essentially travel for free around the world with a companion? Presumably not but I’ve read your description and can’t figure it out…

    • I clarified it above. It is a companion pass that works in any class so you get the points back for the companion for all flights for the rest of the year you earn it plus the following year.

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