Chase and Air Canada Announce Plans For Upcoming U.S. Credit Card
With 2020 coming to an end, the world is certainly looking forward to 2021. In particular, travelers are hoping that cross-border trips will be back on the table as vaccines begin to roll out in certain nations. Ahead of a hopeful return to the skies, one international airline has announced plans to bring a new credit card offering to the United States.
This week, Chase and Air Canada announced that they will be launching a new credit card for the U.S. market late next year. While details are not yet known, the two companies did reveal that the co-branded card will bear the name of the airline’s recently revamped Aeroplan loyalty program. Additionally, following in the footsteps of the new Freedom Flex that debuted in September, the new card will operate on the Mastercard network.
In addition to Chase becoming the exclusive issuer of the Air Canada’s U.S. credit card, the airline will also be joining the Chase Ultimate Rewards program as a transfer partner. Starting late next year, Chase cardholders will be able to turn their Ultimate Rewards points into Aeroplan miles. Although a ratio between the two currencies has yet to be announced, it’s worth noting that American Express Membership Rewards points currently transfer to Aeroplan at a rate of 1:1.
For Chase, the upcoming Aeroplan card will expand its already lengthy list of airline co-branded cards. Currently, that bank offers cards for such airlines as United, Southwest, Aer Lingus, British Airways, and Iberia. On top of that, the company also has co-branded deals with Marriott, Hyatt, Disney, and others.
Commenting on the new partnership, Air Canada’s VP of Loyalty and eCommerce Mark Nasr said, “We are delighted to partner with Chase and Mastercard to relaunch our U.S. co-brand credit card. Chase’s many strengths, including digital innovation, customer service excellence and a world-class brand, will help us deliver a best-in-class product for US-based Aeroplan members.” Nasr added, “The strength of the newly transformed Aeroplan program combined with this partnership will drive significant growth and engagement — focusing on the over two million U.S. residents with strong ties on both sides of the border.” President of Chase Co-Brand Cards Ed Olebe also expressed excitement, remarking, “We are thrilled to be partnering with Air Canada, a company we greatly admire, on a new credit card for U.S. consumers. We look forward to jointly offering innovative perks and flexible rewards delivered as part of the transformed Aeroplan loyalty program.”
While it may seem a bit odd to announce a new credit card so far in advance, given the circumstances, it may actually be a smart play for Chase and Air Canada. With international travel mostly on-hold for now, there’s reason to believe that things will resume by “late 2021” when the card is due. Therefore, perhaps those already sketching out their travel plans for 2021 and 2022 will keep this impending partnership in mind, either as a potential card option or as a points transfer destination. Hopefully we’ll learn more about this Chase/Air Canada co-branded card in the months ahead.