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2,400 Miles
Welcome Offer
$299
Annual Fee
Up to 1 Mile per $10 spend
Rewards
Rewards | Earn 1 AIR MILE for every $10 spent on purchases at eligible stand-alone grocery stores, gas stations and drugs stores in Canada, as well as eligible AIR MILES partners, and earn 1 AIR MILE for every $15 spent on all other eligible purchases elsewhere. |
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Welcome Offer | Earn a welcome bonus of 2,400 AIR MILES Bonus Miles when you charge a total of $3,000 in purchases to your Card within your first 3 months of Cardmembership. That's enough for two select flights. |
Purchase Interest Rate | 20.99% |
Cash Advance Rate | 21.99% |
Balance Transfer Rate | N/A |
Interest Free Period | Up to 21 days |
More Info |
The American Express AIR MILES Reserve Credit Card is a high end travel card which rewards you with AIR MILES on your eligible purchases. Aside from earning AIR MILES, this card offers a wealth of travel perks including Air Miles Onyx status, extensive travel insurance coverage and an annual companion flight.
Unlike the charge card that is commonly offered by American Express, this card is a regular credit card, which means you don’t have to pay off your entire balance each billing cycle. If you don’t pay off the entire balance, you will face a 20.99% APR. Keep in mind there is also a hefty annual fee of $299 for the card.
Redeem your Air Miles and enjoy more freedom with the FlexFly program. You can now access additional airlines, destinations, departure times and economy, business and first-class seats on flights not available within the AIR MILES Reward Program.
You can redeem your Air Miles to pay for taxes and fees including waived AIR MILES flight administration fee associated with your flight bookings.
Receive four complimentary visits over the course of a year to Priority Pass – Worldwide Airport Lounge Access and access to the Toronto Pearson Priority Security Lane with your Reserve Credit Card.
Offered by the Air Miles program, you’ll automatically be given Onyx status. Having Onyx status can grant you major discounts on flights, merchandise and events, as well as other perks.
Buyer’s assurance doubles the manufacturers warranty (up to one additional year) when you use your American Express card to purchase the item. Your eligible items are also covered against theft and accidental damage with Purchase Protection.
The card’s annual fee is $299. However, if you use the rewards and perks, you may find the annual fee is worth the expense. Additional cards are available for $50 each annually, which means you can share them with your family members to rack up your Air Miles points faster. Remember that you will be responsible for all purchases made by additional cardholders.
Cash advances will be subject to a 21.99% APR, which will be charged from the moment you withdraw the funds.
Compared to Visa and Mastercard, American Express is much less widely accepted in locations across Canada, the US and around the world. This might provide you with less opportunity to use the card, and therefore less opportunity to reap the rewards.
If you don’t collect and redeem Air Miles, a different card will likely suit your needs better. This card is tailored toward customers who frequently travel and take advantage of the Air Miles offers, as well as the host of travel insurances on offer. If you prefer to collect Aeroplan Miles or Amex Membership Rewards, a different American Express card may be a better fit.
The American Express AIR MILES Reserve Credit Card comes with an annual fee of $299. If paying an annual fee is not in your best interests, consider looking into a no annual fee credit card.
If you’re looking to reap the benefits of cash back, you may want to consider a cash back rewards card. These types of cards typically offer anywhere from 1-5% cash back on purchases. If you spend frequently on gas, groceries and dining out, a cash back rewards card may be more beneficial for you than a travel rewards card, especially if you don’t travel often.
To apply for the American Express AIR MILES Reserve Credit Card, you will need to meet the following criteria:
Having a good to excellent credit score of 650 or higher will give you a better chance of your application being approved. Also having a relatively high annual income or combined household income may be beneficial for approval.
Other factors that might affect your odds of approval include:
Positive things are generally said by customers who have the American Express AIR MILES Reserve Credit Card. Cardholders are pleased with the welcome sign-up bonus, alongside the flexibility of the Air Miles points and the extensive suite of travel insurance offered. However, considering the high annual fee for the card, cardholders do feel that the complimentary lounge access should be extended to more than four per year.
Customers of American Express usually complain of the companies inflexible policies. However, positive reviews are usually about the customer service team, who are said to be prompt and helpful when it comes to dealing with issues.
Pre-approval for an American Express credit card is automated on the website, which means you may get a decision on your application within just 60 seconds. If there are issues with your application, such as missing information, it may take within 10 days to hear back.
Once your application has been approved, you’ll typically receive your card in the mail within 5 to 10 business days.
The American Express AIR MILES Reserve Credit Card is worth exploring if you’re a frequent traveller and a spender of AIR MILES®. With comprehensive insurance, a great point to dollar earn ratio, an enticing bonus offer and an annual companion flight, this credit card can be a powerful travel companion.
If you’re not looking to pay a hefty annual fee for your credit card, the $299 annual fee for the Reserve Credit Card may be too pricey. There are plenty of other travel rewards credit cards on the market that have similar features for less, so be sure to compare your credit card options before you apply for one.
Pictures: americanexpress.com/ca