This is the card I'd suggest to a student who wants to start collecting Aeroplan points, say for flights home between terms, without paying a fee. It is the same card as CIBC's regular Aeroplan Visa on the parts that earn: 1 point per dollar on gas, EV charging, groceries and Air Canada, 1 point per $1.50 elsewhere, points that don't expire while you hold it, and the cardholder pricing perks Aeroplan gives every co-brand customer.
What changes for students is the entry bar. There is no minimum income, the credit limit goes up to $5,000 ($2,000 for international students), and you get a free SPC+ membership. From what I can tell, the trade-offs are the same as the regular card: no checked bag, no lounge access and no travel medical coverage.
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. It is the same offer the regular CIBC Aeroplan Visa shows.
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 take one purchase and $1,500 over four statements, about $375 a month. The anniversary half needs $10,000 in a year, which is more than most student budgets put on one card, so count on the first 5,000 and treat the anniversary half as a bonus.
Fees & eligibility
The card has no annual fee, and additional cards are also $0, for up to 3. There is no minimum income requirement (the regular CIBC Aeroplan Visa asks for $15,000 in household income). Canadian students can get a credit limit of up to $5,000 with a strong credit score, and international students up to $2,000, subject to CIBC's credit criteria; the card carries a minimum credit limit.
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 dining, transit 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 you pool points with others in your household, which helps if others in your household already collect Aeroplan.
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.
Students also get a free SPC+ membership (up to 30% off at 450+ brands) while they hold an eligible CIBC student product, registered through CIBC online or mobile banking. The CIBC-wide extras apply too: Journie Rewards fuel savings of up to 10 cents per litre, a free Skip+ membership with a $10 monthly voucher, 50% off Disney+ Standard with Ads for 6 months, and CIBC Global Money Transfer to 120+ countries with a $0 transfer fee. There is no free checked bag, no lounge access, no Status Qualifying Credits and no foreign transaction fee waiver.
Insurance
The insurance is the same Belair certificate as the regular CIBC Aeroplan Visa. 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 a trip home or a term abroad needs a separate policy.
My take
I'd get this card if you're a student who wants to build Aeroplan points with no fee; I'd skip it if you would rather have cash back you can spend now.
For a student flying Air Canada a couple of times a year, 1 point per dollar on groceries, gas and Air Canada plus the cardholder pricing perks is a sensible start, and the points sit safely until you have enough for a flight. The realistic welcome is the first 5,000 points; the other 5,000 need $10,000 in a year.
The limits are the same as the regular card. 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 mainly want value on groceries, CIBC's Dividend Visa for Students pays 2% cash back there, so I'd only pick this one if Aeroplan flights are the goal.
The good
- No annual fee and no minimum income
- 1 point per dollar on gas, EV charging, groceries and Air Canada
- Aeroplan cardholder pricing and points that don't expire while you hold it
The catch
- Only 1 point per $1.50 on everything else
- Half the welcome offer needs $10,000 in the first year
- 2.5% foreign transaction fee and no travel medical coverage