CIBC Aeroplan Visa Business Card Review (Jun 2023)

December 11, 2022
Reviews

The CIBC Aeroplan Visa Business Card offers up to 2 Aeroplan points for every dollar you spend on groceries, transportation, entertainment, and Air Canada travel purchases. It has one of the lowest interest rates, with 12.99% on purchases and 14.50% on cash advances.

The CIBC Aeroplan Visa Business Credit card includes free first-checked baggage, and 4 complimentary Maple Leaf Lounge Guest Passes every year. It has an annual fee of $180, competitively low for travel credit cards, which is why it's highly recommended for frequent travellers of Air Canada.

What Is The CIBC Aeroplan Visa Business Card?

CIBC Aeroplan Visa Business Card is one of the five business credit cards offered by CIBC, which provides users rewards and travel benefits when flying with Air Canada. This credit card separates your business and personal expenses to power up your firm ranging from rewards to insurance. It has an annual fee of $180 and a welcome bonus of up to 60,000 Aeroplan points. Besides getting Aeroplan points from bonuses, you can earn up to 2 points on groceries, transportation, dining and services, household bills, and Air Canada travel purchases.

This credit card differs from its competitors because it gives frequent travellers exclusive benefits and perks. If you are one, you will enjoy your free first-checked baggage with Air Canada and up to 4 complimentary Maple Leaf Lounge One-Time Guest Passes for your companions.

You can also handle your business cash flow and expenses with the CIBC Aeroplan Visa Business card. You can set up pre-authorized and automatic payments, have up to 9 authorized users in your account and get monthly spending reports. The CIBC Aeroplan Visa Business isn't only a good business card, it's also a good Aeroplan credit card, working with one of Canada's most popular Airlines' loyalty programs.

Features Of The CIBC Aeroplan Visa Business Card

Learning about a credit card’s primary usage and offers is not enough. To become a financially wise credit card user, you must delve deeper into its features and consider how it could help your business grow to its fullest potential. 

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#1 Low-Interest Rates

The CIBC Aeroplan Visa Business card has one of the lowest interest rates regarding business cards. It has a purchase rate as low as 12.99% and a cash interest rate as low as 14.50%. Being a responsible credit card user rewards you with these lessened rates, thus, making it easier for you to pay your monthly bills on time. 

Remember that these rates can change from time to time since it is based on your credit history and other information upon applying for the card. 

The purchase interest rates that will be assigned to you are the following: 

  • 12.99%
  • 15.99%
  • 18.99%  

And the cash interest rates that will be assigned may be:

  • 14.50%
  • 17.50%
  • 21.50%

#2 Earn Up To 2 Aeroplan Points And Redeem Rewards With Air Canada

There are various ways to earn yourself some Aeroplan points with the CIBC Aeroplan Visa Business Card. For every dollar you spend, you can get many popular rewards ranging from branded merchandise to discounted flights.

Earning Points

You can earn points on most purchases at a rate of:

  • 2 Aeroplan points per $1 spent on: Air Canada travel purchases (e.g., Air Canada Vacations) and Aeroplan eStore items
  • 1.5 Aeroplan points per $1 spent on travel purchases, including airline tickets, car rentals, hotels, cruises, travel agencies, or operators.
  • 1.5 Aeroplan points per $1 spent on transportation, including ferries, railways, limousines, or cabs.
  • 1.5 Aeroplan points per $1 spent on dining, including restaurants, shipping, internet, phone
  • 1 Aeroplan point per $1 spent on all other purchases

Redeeming points

You can redeem these points for the following:

  • Flight rewards, including extras and upgrades
  • Air Canada Vacations packages
  • Hotel accommodations and car rentals
  • Activities and travel experiences
  • Gift cards
  • Merchandise

You should redeem your Aeroplan points yearly since they expire after 18 months of inactivity. Hence, it is best if you stay active by earning or redeeming points from time to time.

#3 Free First Checked Baggage (Up To 8 Additional Guests)

There is no need to spend some extra cash on your first baggage. The CIBC Aeroplan Visa Business Card offers free first-checked baggage for you and your 8 other companions when you book your flight with Air Canada.

You and the authorized users must have good credit card standing to benefit from this promotion. Otherwise, it will not be available to use.

Note that each checked baggage must only weigh 23 kg/50 lbs to meet the standard requirements. Additional charges will be applied if the luggage is overweight or oversized. 

#4 Get Up To 4 Complimentary Annual Maple Leaf Lounge One-Time Guest Passes

You can get up to 4 complimentary one-time guest passes from Maple Leaf Lounge annually by spending at least $10,000 in eligible purchases with the CIBC Aeroplan Visa Business Card. These passes give you and your companions free access to the exclusive Maple Leaf Lounges in North America, as long as you have a same-day ticket on an Air Canada flight. For every $10,000 spent, you receive one Air Canada Maple Leaf Lounge One-Time Guest Pass and up to 4 Guest Passes each year. 

As the primary cardholder or authorized user, you must use your Guest Pass upon redeeming since it expires after 12 months from the application date. To enter the lounge with your Guest Passes, refer to the screenshot above or visit the page here

#5 Contactless Payment And Mobile Wallet

CIBC Aeroplan Visa Business Card has a new way of paying for your purchases in-store, in-app, or online. Look for the contactless payment icon on the merchant’s terminal and tap your card or smartphone. This payment method lessens the time and effort you need to pay for your items with a tap.

If you lost or had your credit card stolen, you can access your virtual card in your CIBC mobile wallet while waiting for a replacement card. You can contact CIBC at 1 800 663-4575 as soon as possible for emergency card replacement. 

#6 Aeroplan Points Calculator And Visa SavingsEdge For Automated Savings

Earn and find out how far your Aeroplan points would take you with your monthly credit card spending. Using the Aeroplan Points Calculator motivates you to earn the right amount of points to exchange for exciting rewards.

It calculates your monthly expenses, including

  • Shipping, internet, cable, and phone services
  • Dining and travel
  • Air Canada travel purchases
  • All other purchases

Other than that, there is also a fun way to receive discounts from business purchases for free. Visa SavingsEdge gives rewards through purchase discounts when you spend on gas, groceries, dining, and more. These automatic discounts in every reward will then appear in your statement credit. 

#7 Credit Card Security Features And Insurance Coverage

When travelling, you should always be prepared for unforeseen situations. Your safety, belongings, and credit card are all covered by the CIBC Aeroplan Visa Business Card. 

This credit card is equipped with security and alert features, including

  • Visa’s Zero Liability Policy – which assures that you are not responsible for any fraudulent purchases made with your credit card
  • Fraud Alerts – detects fraud or unusual credit card activities and notifies you via text, email, or phone to verify that you made the transaction.
  • Digital Dispute Platform – submit a digital dispute through online or mobile banking when you recognize an unknown transaction.  

In addition, this credit card has broad travel insurance coverage to ensure you get home safe and sound.

Its travel insurance coverage includes

  • Flight delay and baggage insurance
  • Trip cancellation and trip interruption insurance
  • Auto rental collision and loss damage insurance
  • Common carrier accident insurance
  • Purchase security and extended protection insurance

It also offers optional insurance coverage to widen the protection for you, your spouse, and your family. You can learn more about it here

Pros Of The CIBC Aeroplan Visa Business Card

  • Earn 2 Aeroplan points for every $1 spent on Air Canada travel purchases; 1.5 points for airlines, hotels, car rentals, transportation, dining, shipping, and household bills, and 1 point on all other purchases
  • Free first checked bag and up to 8 other guests with Air Canada
  • Earn up to 4 complimentary Maple Leaf Lounge One-Time Gate Passes annually.
  • It has an Aeroplan Points Calculator to estimate your monthly points and rewards.
  • Pay for your flights or trips with a combination of points and cash.
  • It protects your card with a Zero Liability Policy from fraud, a stolen identity, and unauthorized purchases.
  • It includes valuable insurance that covers your trips, flights, car rentals, and purchases.

Cons Of The CIBC Aeroplan Visa Business Card

  • A $180 annual fee for primary cards and $50 for extra credit cards
  • A 12.99% purchase interest rate and 14.50% cash advance interest rate – which is lower than most competitors
  • It is not best for people who prefer cash back over reward points.

Pricing

As we have mentioned above, the CIBC Aeroplan Visa Business card has many great features. However, you must consider some things before applying for this credit card. For example, its annual fees, personal income requirement, and interest rates. Knowing about these beforehand may speed up your application process, or in the worst case, you may be declined. Let us read the information below and compare them with another credit card. 

CIBC Aeroplan Visa Business CardRBC Avion Visa Business
Annual Fee$180$120
Additional Card Fee$50$50
Personal Minimum Income$35,000N/A*
Purchase Rate12.99%19.99%
Cash Advance Rate14.50%22.99%
Balance Transfer Rate14.50%N/A*
Foreign Currency Conversion Rate2.5%2.5%
Interest-Free Grace Period21 days21 days
Cash Advance Fee$5$5
Overlimit Fee$29$29

* This information is not displayed on the credit card’s webpage

Compared to other business cards like the Amex Business Platinum, the CIBC Aeroplan Visa Business card passes as a medium-priced option for business owners. Like most other similar cards, it has Purchase Security and Extended Warranty. This insurance protects your credit card purchases from damages, losses, or misplaces within 90 days. Likewise, the Extended Warranty extends the item’s warranty to one additional year. 

In Summary

CIBC Aeroplan Visa Business Card is your go-to business card if you prefer to book flights with Air Canada. With a reasonable fee of $180 per year, you can enjoy exclusive travel benefits, including Aeroplan points, free first-checked baggage, discounted flights, and up to 4 complimentary Maple Leaf Lounge Gate Passes. It also has valuable insurance coverage to protect you from flight delays to emergencies, thus, ensuring that your travels are safe and sound. 

CIBC Aeroplan Visa Business Card FAQs

How Much Does CIBC Aeroplan Visa Business Card Cost?

CIBC Aeroplan Visa Business Card costs an annual fee of $180 and an extra fee of $50 for additional credit cards

Is CIBC Aeroplan Visa Business Card Worth It?

Yes, CIBC Aeroplan Visa Business Card is worth it. For only $180 per year, you can enjoy free first-checked baggage, up to 4 complimentary Maple Leaf Lounge Gate Passes, and redeemable rewards with Aeroplan points. It also protects you from uncertainties with its insurance coverage, including flight delays, trip cancellations, accidents, emergencies, and even damaged credit card purchases.

If you don't want a Visa but do want a good Aeroplan credit card, you can take a look at the American Express Aeroplan Business Reserve card. It's a high-value option loaded with benefits.

Is CIBC Aeroplan Visa Business Card Safe?

Yes, the CIBC Aeroplan Visa Business Card is safe to use. It has fraud alerts that notify you of any unusual activity or unauthorized use of your account by email or online message. It also protects you when someone steals your credit card information with Visa’s Zero Liability Policy. This ensures that you will not be responsible for fraudulent purchases, which will help you get a reimbursement. 

What Are The Benefits Of A CIBC Aeroplan Visa Business Card?

The benefits of a CIBC Aeroplan Visa Business Card are Aeroplan points, one-time annual fee rebates, free first-checked baggage, up to 4 Maple Leafe Lounge access, and low-interest rates. You can also get similar benefits with the personal CIBC Aeroplan Visa and even better with the personal CIBC Aeroplan Visa Infinite card.

Does CIBC Aeroplan Visa Business Card have lounge access?

Yes, the CIBC Aeroplan Visa Business Card has lounge access where you can enjoy up to 4 Maple Leaf Lounge One-Time Guest Passes each year. You can receive one guest pass (up to 4) for every $10,000 spent on eligible purchases within an accounting year.  

How much are 50,000 CIBC Aeroplan points worth?

The average dollar value of 1 Aeroplan point is $0.02. Thus, if you have 50,000 CIBC Aeroplan points, its estimated worth is around $25,000. 

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