Frequent Air Canada flyers can earn strong rewards.
30-second take
- Get this card if you’re a frequent Air Canada flyer.
- Pick something else if you fly occasionally.
- Apply with a good to excellent credit score of 670 or higher.
| Product Name | TD Aeroplan™ Visa Signature® Credit Card |
|---|---|
| Card Type | Visa |
| Annual Fee | $0 annual fee for the first year ($95 thereafter) |
| APR (Annual Percentage Rate) for Purchases | 16.24%, 21.24% or 25.24% variable |
| Introductory Purchase APR | N/A |
| Balance Transfer APR | 16.24%, 21.24% or 25.24% variable |
| Introductory Balance Transfer APR | N/A |
| Balance Transfer Fee | $5 or 3% of the transaction, whichever is greater |
| Cash Advance Rate | 27.49% variable |
| Foreign Transaction Fee | None |
| Cash Advance Fee | $10 or 5% of the cash advance amount, whichever is greater |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $37 |
| Returned Payment Fee | Up to $37 |
| Minimum Age | 18 years of age |
|---|
| Welcome Offer | 25,000 miles after spending $1,000 in the first 3 billing cycles |
|---|---|
| Rewards | 2x miles on Air Canada® purchases and 1x miles on other purchases |
| Base Rewards | 1x miles |
The basics
The TD Aeroplan™ Visa Signature® Credit Card can be a good option for frequent Air Canada flyers. On average, Aeroplan miles are worth more than the industry standard. And the card offers an accelerated rewards rate on Air Canada purchases.
There’s an annual fee starting the second year, however. The only way to offset this fee is to use rewards miles since the card doesn’t offer other airline perks such as checked baggage or priority boarding.
If you’re an occasional flyer, you might want to consider a travel credit card with no annual fee.
The perks
- Annual fee: Waived the first year.
It reverts to $95 starting your second year. - Signup bonus: 25,000 Aeroplan miles.
Spend $1,000 in eligible purchases within the first 3 billing cycles to earn this bonus. It’s worth up to $400 depending on what you redeem your miles for. - Rewards: 2x Aeroplan miles on Air Canada purchases.
According to our January 2019 valuation, Aeroplan miles are worth an average of 1.6 cents — which means you’re getting a 3.2% rewards rate on Air Canada spending. Earn 1x miles on other eligible net purchases. Redeem miles for flights, hotel stays, car rentals, cruises, vacation packages, merchandise, gift cards, activites, charitable donations and more.
What to watch out for
- Annual fee: $95 starting the second year
This is a common annual fee you’ll find with midtier airline and travel credit cards. You’ll need to earn 5,938 Aeroplan miles to break even on the annual fee. - Light on Aeroplan perks.
You won’t find benefits such as priority boarding or checked baggage, which you’ll get with many competing mid-tier cards. - Surcharges on award flights.
Aeroplan can charge hefty surcharges, especially for international flights. That said, your miles might be worth less than they seem.
Compare similar travel credit cards
Bottom line
The TD Aeroplan™ Visa Signature® Credit Card is best for frequent Air Canada flyers. When you spend with the airline, you’ll earn a strong 3.2% rewards rate.
If you fly only occasionally, you might want to consider another travel credit card. On the other hand, you can check out cards with travel credits if you fly more frequently.
Frequently asked questions
Images: td.com
