CIBC Aeroplan Visa Card Review (Feb 2023)

January 9, 2023
Reviews
CIBC

The CIBC Aeroplan Visa Card is your go-to travel rewards card, especially if you like to take your trips with Air Canada. The CIBC Aeroplan Visa Card doesn't have an annual fee, and you can request as many additional cards as you want; this makes it an excellent entry-level travel credit card.

WIth the CIBC Aeroplan Visa Card you can earn Aeroplan points on most everyday purchases, at a rate of 1 Aeroplan point per $1 spent on qualifying categories. The CIBC Aeroplan Visa Card is one of the few no-fee credit cards to offer purchase protection, emergencies coverage, and car rental insurance.

What Is The CIBC Aeroplan Visa Card?

The CIBC Aeroplan Visa Card is one of the travel rewards credit cards offered by CIBC. It allows its cardholders to earn points on purchases they can redeem for flight rewards at any destination. 

This is an excellent stepping stone into the credit card world, especially because it doesn't charge any annual fees. You can earn 1 Aeroplan point per $1 spent on various purchases, including gas, groceries, Air Canada travel purchases, and Aeroplan eStore merchandise. 

To apply for this credit card you need a credit score of at least 670 and a minimum annual income of at least $15,000.

CIBC Aeroplan Visa Card Features

#1 No Annual Fees

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The CIBC Aeroplan Visa Card doesn't charge any annual fees, saving you more money and time to prepare for your next dream vacation. It also does not cost a single cent to add authorized users – such as your spouse or children – to use the card to gain more points.

Aside from no annual and additional credit card fees, it has competitive interest rates such as:

  • Purchase Rate of 20.99%
  • Cash Interest Rate of 22.99% or 21.99% if you are a resident of Quebec

To apply for this travel rewards credit card, you must have a minimum household income of $15,000.

#2 Earn Aeroplan Points On Qualifying Purchases

You can get Aeroplan points on every purchase with the CIBC Aeroplan Visa Card. You can earn 1 Aeroplan point per $1 spent on:

  • Gas
  • Groceries
  • Air Canada travel purchases
  • Aeroplan eStore – earn twice the Aeroplan points
  • All other purchases – for every $1.50 spent on items

Unlike the CIBC Dividend Visa card, the CIBC Aeroplan Visa Card does not reward you points for sending money abroad through the CIBC Global Money Transfer.

#3 Rewards Flexibility With Air Canada

You can redeem your Aeroplan points for travel benefits like:

  • Flights – no seat restrictions and cash surcharges
  • Hotels – save up to 30% on hotel bookings.
  • Car rentals
  • Vacation packages
  • Activities and travel experiences
  • Merchandise – includes categories such as beauty, health & wellness, sports, children's toys, and Disney products.
  • Gift cards – include Walmart, Sephora, Amazon, Costco, Petro-Canada, Starbucks, and more.
  • Extras and upgrades – includes in-flight Wi-Fi, or make a bid with the AC Bid Upgrade program for a chance to secure a higher cabin class (for at a reasonable cost)

Your Aeroplan points won't expire if you earned, redeemed, or transferred points within the last 18 months.

#4 Excellent Insurance Coverage

The CIBC Aeroplan Visa card offers insurance coverage whether you travel frequently or spend your summer breaks in different countries. Insured categories include:

  • Purchase Security and Extended Protection Insurance – protects eligible credit card purchases for 90 days against theft, loss, or damage and extends the item's warranty to one additional year.
  • Common Carrier Accident Insuranceup to $100,000 regardless of the number of accidental losses
  • Auto Rental Collision and Loss Damage Insurance – only applies when the Manufacturer's Suggested Retail Price (MSRP) of the rented car is under $65,000. Otherwise, there will be no coverage.

You can also opt-in for additional insurance coverage, and some of the options include the CIBC Payment Protector Insurance for Credit Cards. This insurance helps you be prepared for any circumstances regarding unemployment, disability, or critical illness.

#5 Earn Points Faster With Aeroplan Family Sharing

Aeroplan Family Sharing lets you combine points with other Aeroplan cardholders in your family to redeem rewards faster than earning by yourself. You can add up to 7 family members and pool your points to redeem rewards.

Every Aeroplan point your family member earns will be added to the family sharing balance, and you can check the total anytime. You can choose how to manage the points by changing the redemption permissions for your family members. 

As the Family Lead, you can:

  • Set your Family Members to contribute and redeem points at the same time or,
  • Let them earn points but forbid them to redeem rewards

Keep in mind that to participate:

  1. You must be at least 18 or older, and the person who created the pool is the Family Lead
  2. Members must stay in the pool for a minimum of 3 months before they can leave
  3. You must wait at least six months before joining a new family-sharing pool.

#6 Credit Card Alert Features

You can guarantee that your credit card and personal information are safe with the CIBC Aeroplan Visa card's alert features. These built-in security tools allow you to check your credit card activities in real-time to prevent unauthorized uses. 

These alert features include:

  • Spend Alerts – sends you a notification through phone, email, or online message when you have exceeded or are nearing your credit limit.
  • Fraud Alerts – notifies you of unauthorized credit card use by email or online message.
  • Credit Report Alerts – sends you an update of your credit report and lets you create a schedule for your credit card payments.

Other than alerts, you can also manage your credit card online through the CIBC Mobile Banking App or CIBC Online Banking. You can activate a new card or report a misplaced credit card by signing in to your account on any of these platforms.

The CIBC Aeroplan Visa Card Pros & Cons

Pros

  • No annual or additional credit card fees
  • Earn 1 Aeroplan point per $1 spent on groceries, gas, and Air Canada travel purchases and for every $1.50 spent on a CIBC Global Money Transfer.
  • No transaction fees and interest rates are charged on international money transfers as long as you pay on the due date.
  • Get twice the Aeroplan points when you buy purchases on Aeroplan eStore.
  • Combine your points with family members with the Aeroplan Family Sharing
  • Estimate the number of points you need for a specific reward with the CIBC Aeroplan Calculator
  • It has 3 types of insurance coverage: Purchase Security and Extended Protection, Common Carrier Accident, and Auto Rental Collision and Loss Damage Insurance.

Cons

  • It has a lower earn rate than other no-fee travel rewards credit cards.
  • It requires a $15,000 minimum annual household income.
  • It has a purchase rate of 20.99% and a cash interest rate of 22.99% or 21.99% if you are a resident of Quebec.

Pricing

The CIBC Aeroplan Visa Card is a perfect choice for beginners as it rewards you for every purchase you make with the credit card. Regarding its fees, CIBC needs to be more genuinely transparent to its potential customers since they do not display its prices other than annual fees and interest rates. However, we have created a table below to simplify the basic costs and interest rates you need to know about this credit card.

CIBC Dividend Visa Infinite Card
Annual Fee$0
Additional Credit Card Fee$0
Minimum Personal IncomeN/A
Minimum Household Income$15,000
Purchase Rate20.99%
Cash Advance Rate22.99% or 21.99% if you reside in Quebec
Interest-Free Grace Period21 days
Overlimit Fee$29

Aside from its fees and interest rates, the CIBC Aeroplan Visa Card offers a refund with your credit purchases for 90 days from the date of purchase – in the situation of loss, theft, or damage. Likewise, it offers an Extended Warranty for purchases for one additional year after the original manufacturer's warranty expires. Hence, this credit card serves its purpose as it enables you to buy goods and services while earning your trust and reliability.

In Summary

he CIBC Aeroplan Visa Card is your go-to travel rewards card, especially if you like to take your trips with Air Canada. The CIBC Aeroplan Visa Card doesn't have an annual fee, and you can request as many additional cards as you want; this makes it an excellent entry-level travel credit card.

WIth the CIBC Aeroplan Visa Card you can earn Aeroplan points on most everyday purchases, at a rate of 1 Aeroplan point per $1 spent on qualifying categories. The CIBC Aeroplan Visa Card is one of the few no-fee credit cards to offer purchase protection, emergencies coverage, and car rental insurance.

CIBC Aeroplan Visa Card FAQs

How much does the CIBC Aeroplan Visa Card cost? 

The CIBC Aeroplan Visa Card does not cost any annual or additional credit card fees.

Is the CIBC Aeroplan Visa Card worth it?

Yes, the CIBC Aeroplan Visa Card is worth it. This travel rewards credit card benefits beginners as it does not cost any annual fees but earns 1 Aeroplan point on gas, groceries, and Air Canada travel purchases. Although it does not offer exclusive rewards, you are still covered with 3 types of insurance coverage to keep purchases and trips safe and sound. 

Is the CIBC Aeroplan Visa Card safe?

Yes, the CIBC Aeroplan Visa Card is safe. It has an online and mobile banking app with built-in security features to ensure that your credit card information is secure. It also notifies you of unauthorized use through phone, email, or online messages.

Is the CIBC Aeroplan Visa Card free?

Yes, the CIBC Aeroplan Visa Card is free, but you need at least a minimum household income of $15,000.

What are the benefits of the CIBC Aeroplan Visa Card?

The benefits of the CIBC Aeroplan Visa card are Aeroplan points, redeemable flight rewards, and essential 3 types of insurance coverage – all for a no-annual-fee credit card.

What will 150,000 Aeroplan points get you?

The 150,000 Aeroplan points can get you economy to business class tickets to any destinations you want across North America, South America, Atlantic, and Pacific Zones. 

Can Aeroplan members use the Air Canada lounge?

Yes, Aeroplan members can use the Air Canada lounge if their card issuer provides “Complimentary lounge visits” on their credit card. 

Can I use my Aeroplan card at Costco?

Yes, you can use your Aeroplan car at your local Costco stores to redeem Costco shop Cards and Costco memberships.

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