Aeroplan Credit Card Changes in 2027: 15% Off Flight Rewards for Good, AC Wallet Credits, and Higher Annual Fees

Aeroplan is refreshing its Canadian credit cards on January 12, 2027. The headline is that the 15% discount on Air Canada flight rewards, which cardholders can already use as a promotion, becomes a permanent card benefit.

There's more: travel credits in your AC Wallet, worldwide Maple Leaf Lounge access for premium cards, and a 4th Day Free on car rentals. There are also higher annual fees, at TD, CIBC and American Express alike.

I have a TD® Aeroplan® Visa Infinite* Card, so I got the email on September 29. Near the bottom, after the new benefits, was a line about "updates to your fees."

I knew a change was due, so that part didn't surprise me. What I'm watching is whether TD also raises the minimum balance on the chequing accounts that waive the card's annual fee. Mine is waived through a TD All-Inclusive Banking Plan, and that plan's own monthly fee is waived only if you keep $6,000 in the account.

What's new for each card tier

Aeroplan splits its cards into three tiers: premium (like the TD® Aeroplan® Visa Infinite Privilege Card or the American Express® Aeroplan® Reserve Card), core (like the TD® Aeroplan® Visa Infinite* Card), and entry.

Aeroplan says all other existing benefits stay, including the free first checked bag and priority boarding on the cards that have them.

15% off flight rewards, for good

Primary cardholders will save 15% on the points for the base fare of Air Canada flight rewards. Taxes, fees, and surcharges don't change.

The itinerary has to include a flight operated by Air Canada, Air Canada Rouge, or Air Canada Express. It can also include partner flights where the booking page shows them as eligible. Aeroplan's own example is New York to Lisbon via Toronto, with the Toronto–Lisbon leg on TAP Air Portugal.

That's broader than the current promotion, which I wrote about in the cardholder 15% post. There, both directions had to be flown entirely by Air Canada.

You need to be signed in to your Aeroplan account when you book, and the discount lasts as long as you're the primary cardholder in good standing.

What you lose: preferred pricing

There's one change that isn't in the press release. Aeroplan's FAQ says "Preferred pricing will be replaced by FLY15OFF."

Preferred pricing is the lower flight reward pricing Aeroplan cardholders sometimes see on Air Canada flights. Starting January 12, the 15% discount takes its place.

I haven't used preferred pricing myself, and I don't think much changes for cardholders here. If anything, it's people without an Aeroplan card who end up paying more.

AC Wallet credits

On January 15 and July 15 every year, primary cardholders get an Air Canada Flight Benefit in their AC Wallet:

• Premium cards: $50 each time, up to $100 a year
• Core cards: $25 each time, up to $50 a year

Each credit lasts 6 months. You can use it on paid Air Canada flights booked on aircanada.com or the app, including taxes and fees, and it works with seat sales. It can't be used on flight rewards.

If you cancel a booking paid with the credit, it goes back to your wallet with its original expiry date. The first credits land on January 15, 2027.

Maple Leaf Lounges worldwide (premium cards)

Premium cardholders already get Maple Leaf Lounge access in North America. From January 12, that becomes worldwide, for you and one guest on the same itinerary.

You need a same-day departure on a flight marketed or operated by Air Canada or any Star Alliance airline, with your Aeroplan number on the booking before check-in. Access is subject to space.

Premium cards also add priority security lanes at select airports for you and up to eight people on the same booking, on Air Canada-operated flights.

4th Night Free and 4th Day Free

The 4th Night Free on hotel redemptions, which has been a limited-time cardholder promotion, becomes a permanent benefit. Book four or more consecutive nights with points at the same hotel, and the average cost of one night comes off.

I used it in May on a Bangkok stay, which you can read about in my Aeroplan hotel promotions post.

The new 4th Day Free works the same way for car rentals booked with points: four or more consecutive days with one provider, and one day's average cost comes off. Both apply to primary and secondary cardholders.

10% Head Start (premium cards)

This one was announced last year and starts in 2027. Primary premium cardholders with Aeroplan Elite Status get bonus SQC equal to 10% of the SQC they earned in 2026, with no cap.

To get the first one, you need to be an active primary premium cardholder by December 15, 2026, and hold 25K or higher on February 15, 2027.

Higher annual fees at all three banks

TD's email to me only said there would be "updates to your fees." Each bank's own pages have the numbers:

The timing differs by bank:

• American Express: the new fee applies from your first annual fee billing date after January 12, 2027. The free additional cards become "Companion" cards with a $25 annual fee.
• CIBC: the new fees take effect on January 12, 2027.
• TD: existing cardholders pay the new fee at their first annual fee date on or after January 25, 2027. TD says a formal notice comes by mail 30 to 60 days ahead, and existing fee rebates continue. TD lists no fee change for its Platinum and Business cards.

Is it a better deal?

For my card, the math is easy. The fee goes up $20, and I get up to $50 a year in Air Canada credit, so I come out ahead as long as I book a paid Air Canada flight twice a year.

On the TD and CIBC Visa Infinite Privilege cards, the $100 fee increase is matched by $100 a year in credits, with worldwide Maple Leaf Lounges on top. That's a fair trade if you fly Air Canada internationally.

The American Express® Aeroplan®* Reserve Card is the one that stings. Its fee goes up $200, and the AC Wallet credits cover only half of that.

The permanent 15% matters most if your Aeroplan points go to Air Canada flights. For me, that's domestic trips. Internationally, I mostly redeem on partner airlines, so the discount won't touch those bookings unless an Air Canada flight is part of the trip.

What do you think of the changes? Let me know in the comments!