This is the card I'd suggest to someone who wants to start collecting Aeroplan points without paying a fee. It earns 1 point per dollar on gas, EV charging, groceries and Air Canada, keeps your points from expiring as long as you hold it, and gets you the cardholder pricing perks Aeroplan gives every co-brand customer.
What it does not do is anything at the airport. There is no free checked bag, no lounge access and no travel medical coverage, and the welcome offer tops out at 10,000 points. From what I can tell, it works best as a quiet starter card, or as a way to keep an Aeroplan account active after you have moved on from a fee-paying card.
Welcome offer
CIBC is advertising up to 10,000 Aeroplan points on this card, verified on the CIBC page on October 13, 2026, for new cards approved from July 16, 2026. It arrives in three pieces: 2,500 points on your first purchase, 2,500 points for $1,500 in net purchases during the first 4 monthly statement periods, and a 5,000-point anniversary bonus for $10,000 in net purchases during the first 12.
CIBC puts the full 10,000 points at up to $200 in travel value. No end date is printed, transfers and product changes from other CIBC cards are excluded, and Aeroplan can withhold the points if you already received a welcome bonus on an Aeroplan card of the same category from any issuer, so confirm the current terms on the issuer's page before applying.
The first 5,000 points are easy: one purchase and $1,500 over four statements. Half the offer sits behind $10,000 in the first year, and on a card that earns 1 point per $1.50 outside its bonus categories, that only makes sense if this is already where your groceries and gas go.
Fees & eligibility
The card has no annual fee, and additional cards are also $0, for up to 3. Eligibility is a household income of $15,000, and the card carries a minimum credit limit (CIBC does not print the amount on the product page).
Purchases carry a 21.99% interest rate, and cash advances, balance transfers and convenience cheques 22.99% (21.99% for Quebec residents). CIBC charges a 2.5% foreign transaction fee, and new purchases get a 21-day grace period. As with any rewards card, the points only come out ahead if you pay the balance in full every month.
Earning rewards
Earning comes in two tiers. Gas stations, EV charging, grocery stores and purchases made directly with Air Canada (including Air Canada Vacations packages) earn 1 Aeroplan point per dollar. Everything else earns 1 point per $1.50, or about 0.67 points per dollar.
Purchases at Aeroplan partner brands and through the Aeroplan eStore earn points twice when you pay with the card and give your Aeroplan number. There is no Status Qualifying Credit earning and no bonus rate on hotels, dining or other travel.
Redeeming rewards
Points are redeemed through Aeroplan, Air Canada's program. Every Air Canada seat for sale can be booked with points, with no blackout periods, and there are no cash surcharges on Air Canada flight rewards. CIBC values points at about 2 cents per point (cpp) for flights, which is how it arrives at $200 for the 10,000-point offer; actual value depends on the route and cabin.
The cardholder perks apply here too. Primary cardholders can often book flight rewards for fewer points, and from January 12, 2027 that becomes a fixed 15% reduction on the base-fare points for eligible Air Canada flight rewards booked through Air Canada. Hotel redemptions get a 4th night free, a 4th day free on car rentals is added on the same date, and Aeroplan Family Sharing lets a household pool points.
Perks & benefits
The perks are the Aeroplan cardholder basics rather than airline benefits. You get preferred pricing on flight rewards (a 15% points reduction from January 12, 2027), the 4th night free on hotel redemptions, and points that do not expire while you hold the card. CIBC adds Journie Rewards fuel savings of up to 10 cents per litre at participating stations.
What is missing is the airport side. There is no free checked bag, no lounge access, no Status Qualifying Credits and no foreign transaction fee waiver. Those start at CIBC's Aeroplan Visa Infinite, which charges an annual fee.
Insurance
The insurance is a short list, underwritten by Belair. Rentals get primary collision and loss damage coverage for up to 48 days on vehicles with an MSRP up to $85,000, with no deductible, when the full rental is charged to the card (or paid with the primary cardholder's points) and the agency's CDW is declined.
Common carrier accident insurance pays up to $100,000, and new purchases are covered for 90 days against loss, theft or damage, with manufacturer warranties doubled up to 1 extra year. There is no travel medical, trip cancellation, trip interruption, flight delay or baggage coverage, so trips need a separate policy.
My take
I'd get this card if you want Aeroplan points with no annual fee; I'd skip it if you fly Air Canada often enough to use a free checked bag.
As a no-fee card it does the job: 1 point per dollar on gas, groceries and Air Canada, points that don't expire, and the same cardholder pricing perks as the expensive cards, including the 15% flight reward discount coming in January 2027. For someone building toward a first Aeroplan redemption, that is a reasonable place to start.
I'd keep the limits in mind. The base rate of 1 point per $1.50 is thin, the 2.5% foreign transaction fee makes it a poor card to use abroad, and the insurance stops at rental cars and purchases. If you check a bag on Air Canada a few times a year, I would look at CIBC's Aeroplan Visa Infinite instead and weigh its fee against what you spend on bags.
The good
- No annual fee, and $0 for up to 3 additional cards
- 1 point per dollar on gas, EV charging, groceries and Air Canada
- Aeroplan cardholder pricing and 4th night free with no fee
The catch
- Only 1 point per $1.50 on everything else, with bonus earning limited to $40,000 a year
- 2.5% foreign transaction fee
- No travel medical, trip cancellation or checked bag benefit