The American Express Aeroplan Card is one of the few Aeroplan-branded credit cards in Canada, which means you'll rack up Aeroplan points on every single purchase while also getting some sweet Air Canada perks on the side.

This card is a good choice for people who spend a lot of money on Air Canada purchases as well as restaurants, since you get extra points for both of those categories. You'll also get a huge 40,000 point welcome bonus for a standard $120 annual fee.

So if you're looking to turn your travel into free travel, check out what this card has in store for you.

Earning Aeroplan rewards with the Amex Aeroplan card

The Amex Aeroplan card will earn you Aeroplan points on every dollar you spend at the following rates:

• 2 points per $1 spent on Air Canada
• 1.5 points per $1 spent on restaurants
• 1 point per $1 spent on all other purchases

Since these points are worth up to 2 cents each when redeemed for flights, you're looking at between 2% and 4% back on your purchases.

If you don't want to redeem for travel, here's what your points are worth for your other options:

If you sign up for the card right now, you'll also be treated to a huge welcome bonus worth up to $800 in flights.

3 pros of the American Express Aeroplan Card

On top of valuable earn rates, this Aeroplan card will also give you extra benefits for your Air Canada travels – as well as a pretty digestible annual fee.

1. Get Air Canada benefits on every reward flight

Since it's an Aeroplan-branded credit card, you'll get a host of Air Canada benefits to help your travel go a little smoother. You'll get:

You'll get:

• free first checked bag on Air Canada for the cardholder and up to 8 others travelling on the same reservation,
• preferred pricing on Aeroplan flight rewards, and
• 1,000 Elite Status Qualifying Miles for every $10,000 spent annually.

The free checked bags in particular can lead to big savings. With a checked bag starting at $36 one way (plus tax), that's a savings of at least $72 on every round trip flight.

Plus, the preferred pricing on rewards is a great way to stretch out the Aeroplan points you're accumulating.

2. Travel insurance that provides coverage on Aeroplan flight rewards

The Amex Aeroplan card gives you 8 types of insurance coverage, including high-value types like flight delay, baggage delay, and hotel burglary. The best part is, because it's an Aeroplan-branded credit card, the coverage works even on reward flights you used your Aeroplan points to pay for (and pay any taxes and fees with your Amex card).

This may seem like a given, but that's not always the case with travel cards. So credit card travel insurance that actually covers you on all types of flights you book with the card is a big win!

3. Lower annual fee than other comparable Aeroplan cards

While the annual fee of $120 is typical for a premium card, it's actually lower than other similar Aeroplan credit cards, which have annual fees ranging from $139 to $150.

You'll save a little bit every year on fees with this card.

2 Amex Aeroplan card downsides

Is it perfect? Of course not. This card falls a bit short when it comes to acceptance and earn rate.

1. Amex acceptance

Though it may not be as big of a downside as you think it is, it's undeniable that American Express cards are accepted in fewer places than either Visa or Mastercards.

For most large retailers, Amex cards are generally accepted with 2 exceptions – Costco and Loblaws stores (excluding Shoppers).

But Amex acceptance is improving all the time – here's a map that can show you where their cards are accepted where you live.

2. Doesn't earn the best rewards among Aeroplan credit cards

Compared to other Aeroplan credit cards, the Amex Aeroplan doesn't have the best earn rates. Other top Aeroplan cards have bonus earn rates on basics like gas and groceries, which you're more likely to spend more money on than restaurants and Air Canada purchases.

So you may not earn the most Aeroplan points with this card on your everyday purchases, but if you're a big Air Canada and restaurant spender, it could be the card for you. And also consider the lower annual fee in your calculations to see what's worth it.

Amex Aeroplan vs. Amex Cobalt

So how does it compare to the #1 Aeroplan card in Canada – the American Express Cobalt^® Card? While the Cobalt doesn't earn Aeroplan points directly, the Amex Membership Rewards it does earn can be transferred at a 1:1 ratio to Aeroplan.

Here's how it compares in a few areas.

Earning rewards

When it comes to earning rewards, the Amex Cobalt Card is king among Aeroplan cards. No other Aeroplan card (or any type of card, really) is offering these kind of earn rates:

• 5 points per $1 spent on eligible groceries and restaurants
• 3 points per $1 spent on eligible streaming services
• 2 points per $1 spent on eligible gas, transit, and ride share purchases
• 1 point per $1 spent on foreign currency purchases
• 1 point per $1 spent on all other purchases

Here's how they compare for average earn rate, based on a typical $2,000 monthly spend.

Annual fees

For an annual fee, the Amex Cobalt comes in a little higher at $155.88, whereas the Amex Aeroplan card is only $120. That said, the Cobalt does charge its fee in monthly $12.99 chunks, which can help soften the blow.

The Aeroplan-branded card in this case will save you a little money.

Insurance coverage

The Amex Cobalt has 10 types of insurance, 2 more than what the Amex Aeroplan card offers.

But one big advantage the Amex Aeroplan Card has is that it provides coverage on Aeroplan reward flights, since it's an Aeroplan-branded credit card. The Cobalt Card would only provide coverage if you paid for the flight in full using your card, or redeemed your Amex points directly towards travel.

Main perks

One major difference between these cards is the perks they offer. For the Amex Aeroplan card, you'll get priceless benefits with Air Canada. They include:

• free first checked bag on Air Canada for the cardholder and up to 8 others travelling on the same reservation,
• preferred pricing on Aeroplan flight rewards, and
• the ability to earn 1,000 Elite Qualifying Miles for every $10,000 spent annually.

On the other hand, the Cobalt Card simply offers you more ways to redeem your points for travel. These options include:

• transfer to 5 airline and 2 hotel programs at varying rates,
• use the Amex Fixed Points Travel Program to get high value redemptions on any flight, and
• use your points to pay for any travel booking charged to the card.

So it really depends on what you're looking for – do you only fly Air Canada and want specific perks to make your travel easier? Or would you rather have more flexibility so you can chase the best deal?

FAQ

What does the Amex Aeroplan card earn for points on purchases?

With the Amex Aeroplan card, you'll earn up to 2 points per $1 spent:

• 2 points per $1 spent on Air Canada
• 1.5 points per $1 spent on restaurants
• 1 point per $1 spent on all other purchases

Does the American Express credit card come with Air Canada benefits?

Yes, as an Aeroplan branded card, you'll get your first checked bag for free, preferred pricing on Aeroplan flight rewards, and the ability to earn Elite Status Qualifying Miles.

What is the annual fee of the Amex Aeroplan Card?

The Amex Aeroplan card has an annual fee of $120, which is standard for premium travel cards. This is actually lower than most Aeroplan cards, which usually have fees around $139 and $150.