The Aeroplan Card is Amex's entry point into Aeroplan, and the one perk I'd build the case around is the bag. You and up to 8 companions on the same Air Canada reservation each get a free first checked bag, and Amex itself prices that at $140 for two people on one round trip, more than the $120 fee. The rest of the card is modest: 2x with Air Canada, 1.5x on dining in Canada and at Hyatt, 1x on everything else.
Two details are easy to miss. It is a charge card, so the balance is due in full every month, and its insurance stops at delays, baggage, rental cars and purchases, with no emergency medical or trip cancellation. I'd see it as a card for the Air Canada trips you already take, not one to run a household budget through.
Welcome offer
The Aeroplan Card is offering up to 45,000 Aeroplan points, verified on the Amex page on October 13, 2026. You earn 35,000 points after $7,500 in purchases in the first 6 months, and 10,000 points when you spend $1,000 in month 13. Amex values the full 45,000 at up to $900 in flights, based on its cardmembers' redemptions.
The month-13 bonus means keeping the card into a second year and paying that year's fee, which will be $150 for fees charged on or after January 12, 2027. No end date is published, and current or former Aeroplan Cardmembers are not eligible, so confirm the current offer on the issuer's page before applying.
$7,500 in 6 months works out to $1,250 a month, which is a lot for a card that earns 1x on most spending. It is easier if an Air Canada booking or another large planned purchase falls inside the window, and because this is a charge card, every dollar of that spend has to be paid off as the statements arrive.
Fees & eligibility
The annual fee is $120 today, with no first-year waiver, rising to $150 for annual fees charged on or after January 12, 2027. Additional Aeroplan Cards are $50 each (rising to $59), and the no-fee Additional Card becomes the Aeroplan Companion Card at $25 on the same date.
This is a charge card with no preset spending limit: the balance must be paid in full each month, and a 30% annual interest rate applies to anything left unpaid by the next statement date. No minimum income is published; Amex lists Canadian residency, a Canadian credit file and the age of majority in your province or territory. The product page does not state a foreign transaction fee, so check the cardmember agreement before using it abroad.
Earning rewards
Earning starts with Air Canada. Purchases made directly with Air Canada and Air Canada Vacations earn 2x, while dining and food delivery in Canada and stays at participating Hyatt hotels earn 1.5x. Everything else earns 1x.
The Air Canada rate only counts when Air Canada is the merchant, so tickets bought through another website or a travel agent, Air Canada gift cards, and hotels or cars booked on aircanada.com earn 1x. Groceries are not part of the dining category. Paying with the card at Aeroplan partners while presenting your Aeroplan number earns points twice on the same purchase.
Redeeming rewards
Points go into Aeroplan, so their value depends on the redemption. Amex's own figure is that most of its Aeroplan cardmembers get 2 cents per point (cpp) or more on flights, which is how it values the 45,000-point offer at up to $900. Cardmembers can also often book flight rewards for fewer points through preferred pricing.
Beyond flights, points cover Air Canada Vacations, cabin bid upgrades and in-flight Wi-Fi, hotels, car rentals, merchandise and gift cards. Hotel redemptions get a 4th night free on 4-night stays, and from January 12, 2027 the card adds FLY15OFF (15% fewer points on Air Canada flight rewards) and a 4th day free on car rental redemptions.
Perks & benefits
The headline perk is the free first checked bag for you and up to 8 companions on the same Air Canada reservation, when the trip starts on an Air Canada flight. Amex prices it at $140 for two people on one round trip, so a single family trip can cover the annual fee. Add preferred pricing on flight rewards and points-twice earning at Aeroplan partners, and that is most of the list.
There is no lounge access and no travel credit today. From January 12, 2027, alongside the $150 fee, Amex adds $25 twice a year in AC Wallet credit toward Air Canada flights ($50 a year), FLY15OFF and 4th-day-free car rental redemptions. Status Qualifying Credits accrue at 1,000 per $20,000 spent.
Insurance
The insurance is a delay-and-rental package. There is no emergency medical and no trip cancellation or interruption coverage, so travel medical has to come from somewhere else.
What is included: flight delay and baggage delay share $500 per occurrence, lost or stolen baggage pays up to $500 per trip, hotel burglary up to $500, and travel accident cover is $500,000 when the fare is charged to the card. Car rental theft and damage is primary coverage on vehicles up to $85,000 MSRP for rentals of 48 days or less, and purchases get 90-day Purchase Protection plus a one-year warranty extension.
My take
I'd get the Aeroplan Card if you check bags on Air Canada with family or friends a couple of times a year; I'd skip it if you want travel medical insurance or a strong everyday earner.
The bag benefit carries this card. At Amex's own $140 for two people on a round trip, one Air Canada trip a year covers the fee. The 2027 additions, $25 in AC Wallet credit twice a year plus FLY15OFF, can offset the $30 increase if you book Air Canada flights in both halves of the year.
What I'd weigh against it is everything else. It is a charge card, so it has to be paid in full monthly, the 1x base rate is weak, and the insurance leaves out medical and trip cancellation. The welcome offer also asks for $7,500 in 6 months, which is a lot of spending for a card at this level, so I'd only apply if that spend is already planned.
The good
- Free first checked bag for up to 9 travellers on Air Canada
- Amex values the 45,000-point offer at up to $900 in flights
- Primary rental car theft and damage cover
The catch
- No emergency medical or trip cancellation insurance
- Charge card: the balance is due in full every month
- 1x base rate and a $7,500 first welcome tier