CIBC Aeroplan Visa Business Plus Card review

The CIBC Aeroplan Visa Business Plus Card is a travel card designed for small business owners. It lets you earn 2 points for Air Canada purchases and 1.5 points whenever you spend money on shipping, Internet, cable, phone services, travel and dining. You’ll also get a number of travel benefits and airport perks when you sign up, along with a generous welcome bonus.

30-second take

• Think about this card if you’re a small business owner and you want to collect Aeroplan points.

• Choose something else if you plan to use your card for personal expenses or you don’t want to pay an annual fee.

• There are no annual income requirements for the CIBC Aeroplan Visa Business Plus Card.

The basics

If you want to earn Aeroplan points for spending money on your business, then the CIBC Aeroplan Visa Business Plus Card could be a good fit for you:

• Get rewarded for business spending. Earn points for every dollar you spend on travel, dining and business expenses.
• Earn 2x the rewards. Earn double the points when you show your Aeroplan membership and pay with your card at participating retailers.
• Welcome bonus. Earn up to 60,000 points when you sign up for this card. Get 10,000 Aeroplan points when you make your first purchase, 20,000 Aeroplan points when you spend $3,000 or more during your first 4 monthly statement periods and 30,000 Aeroplan points when you spend $35,000 or more during the first year. Plus, get a one-time annual fee rebate.
• Buddy pass. Enjoy a buddy pass to bring along a companion on any Air Canada economy flight in North America.
• Air Canada perks. Take advantage of free checked baggage and up to four annual passes per year to Air Canada’s Maple Leaf Lounge.
• Travel insurance. Get a full suite of travel insurance including trip cancellation and interruption, flight delay and baggage insurance.

• CIBC Aeroplan Visa Business Plus Card travel insurance

  Insurance type	Level of coverage
  Trip cancellation	Up to $1,000 per trip
  Trip interruption	Up to $2,000 per trip
  Flight or trip delay	Up to $500 per occurrence
  Delayed or lost baggage	Up to $500 per occurrence

The perks

• Common carrier insurance. Take advantage of up to $500,000 in accident coverage when you travel on public transit such as buses, planes, ferries and trains.
• Car rental coverage. Rest easy when you rent a car with 48 days’ worth of free insurance for cars valued up to $65,000. 
• Additional cardholders. Add up to 15 extra cardholders onto your account to consolidate business expenses, share perks and earn points faster.
• First annual fee waiver. Get the first annual fee for this card waived for you and up to three other cardholders.

What to watch out for

• Annual fee. This card comes with an annual fee of $120, though you can get your first annual fee waived as an incentive for signing up.
• High interest. You’ll be required to pay an interest rate of 19.99% for everyday purchases and 22.99% for cash advances.
• No travel medical. The CIBC Aeroplan Visa Business Plus Card doesn’t come with travel medical insurance so you’ll need to pay extra for this coverage if you go overseas.
• No extra perks. You won’t get extra benefits such as roadside assistance or mobile device protection included with this card.
• No extra points for everyday purchases. You’ll only earn point for every dollar you spend on everyday purchases such as gas or groceries.
• Fee for additional cards. You’ll have to pay $50 for every additional card that you add to your account.

CIBC Aeroplan Visa Business Plus Card interest rates

What should I know before I apply?

Eligibility requirements

To apply for a CIBC Aeroplan Visa Business Plus Card, you need to meet the following criteria:

• Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces)
• Own your own business in Canada

Required documents and information

• Your name, residential status and contact information
• Your Social Insurance Number and date of birth
• Your email address and phone number
• Details about your business such as credit score and financial records

How to apply

1. Visit CIBC’s main page to access the CIBC Aeroplan Visa Business Plus Card application.
2. Complete the application, which includes providing your name, email address, Social Insurance Number (SIN) and birth date.
3. Review and submit your application.

Bottom line

The CIBC Aeroplan Visa Business Plus Card is a premium travel card for business owners. It comes with a generous welcome bonus and a wide array of travel perks. It also offers a solid return on Aeroplan Points for travel, dining and business purchases. Just be aware that this card comes with an annual fee of $120, though you may be eligible for a fee waiver in your first year of card ownership.

Frequently asked questions about the CIBC Aeroplan Visa Business Plus Card

• Does the CIBC Aeroplan Visa Business Plus Card come with a welcome bonus?

  Yes, but it may depend on when you apply. The current offer lets you earn up to 60,000 Aeroplan points plus a free buddy pass when you sign up and the first annual fee waived.

• Can I get my CIBC Aeroplan Visa Business Plus Card annual fee waived?

  You may be able to get your first annual fee waived for your own card, and for up to three additional cardholders. This could save you up to $270 in annual fees in your first year, though you’ll be required to pay a fee in subsequent years.

• Does this card come with CIBC Aeroplan Visa Business Plus Card travel insurance?

  Yes. You’ll get trip interruption, trip cancellation, flight delay and baggage insurance included with this card. However, you won’t be able to take advantage of supplementary insurance such as travel medical or hotel/motel burglary coverage.

• Can I apply online?

  Yes, you can apply by visiting the CIBC bank website or you can simply click “Go to site” in the table above to be redirected to their application.