Credit Card News

Chase Aeroplan Card Officially Launches, Adding Pay Yourself Back

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Nearly one year after it was first teased, the Chase Aeroplan Card has officially arrived. Today, Chase and Air Canada launched their new co-branded card for the U.S. market. While the card delivers in many of the ways travelers may have expected, it also adds some interesting twists they might not have seen coming.

Starting with the rewards, the Chase Aeroplan Card will earn 3 points per dollar spent directly with Air Canada. On top of that, cardholders will also earn 3x points on dining (including takeout and eligible delivery services) and 3x points at grocery stores. All other purchases will earn 1x points. Also notable is that customers can earn 500 bonus points for every $2,000 they spend on the card in a calendar month — although this bonus is capped at 1,500 points per month. Currently, the site ThePointsGuy.com values Air Canada Aeroplan points at approximately 1.5¢ each.

As for other perks, cardholders and up to eight travelers on the same itinerary will get one free checked bag when they fly Air Canada. Customers can also receive a statement credit of up to $100 for TSA Precheck or Global Entry applications every 4 years. Be aware that the Aeroplan card does carry a $95 annual fee, which is not waived for the first year.

However, the Chase Aeroplan is launching with a unique welcome bonus. At this time new cardholders can receive 2 Flight Reward Certificates (up to 50,000 points each) when they spend $4,000 on purchases during their first three months. Note that these certificates cannot be applied to existing bookings. Additionally, if redeemed for less than 50,000 points, the remaining value will be forfeited.

Finally, in an interesting twist, it looks as though the Chase Aeroplan Card will be the first co-branded card to offer a version of Chase Pay Yourself Back. According to a press release, the feature will be added “soon” and allow cardholders to redeem Aeroplan points toward travel purchases — including those made on other airlines — at a rate of 1.25¢ per point. This benefit is capped at 50,000 points per year. Previously, Pay Yourself Back was introduced to help cardholders use their Ultimate Rewards points for everyday purchases, such as groceries and dining while travel was more or less halted. More recently, the program has continued to evolve by introducing brand-specific offers.

Overall, Chase’s much-hyped Aeroplan card has a lot of interesting elements. First, despite being a travel-centric card, the point multiplier categories make it one that’s fit for everyday spending. Plus, the up to 1,500 point monthly bonus further solidifies this card as an original. Elsewhere, the upcoming addition of Chase Pay Yourself Back also makes this a card that’s great for Air Canada loyalists but that also offers travel flexibility. Therefore, this is definitely a card worth taking a closer look at now that it’s finally landed.

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