15% Off and Up to $100 in Credits: What Changes for Aeroplan Cards on January 12, 2027

On September 25, I attended a briefing reserved for specialized media, hosted by Scott O'Leary, Vice President, Loyalty and Products at Air Canada. I was able to ask my questions directly. Here is what changes, what it is really worth and the points that deserve a caveat, including the annual fee increases at TD and American Express.

To compare the whole market, see our ranking of the best credit cards in Canada.

Aeroplan credit cards at a glance

Aeroplan frames the overhaul around three moments of the trip: in the air, at the airport and on the ground. All the benefits take effect on January 12, 2027. Scott O'Leary stressed one point: these are additions only, and no existing benefit is being removed.

Benefits by card tier

The new benefits vary by card tier: Premium, Core (including most Business cards) and Entry. The table below sums up who gets what.

Which card is in which tier?

• Premium cards: American Express^® Aeroplan^®* Reserve Card, TD^® Aeroplan^® Visa Infinite Privilege* Card, CIBC Aeroplan^® Visa Infinite Privilege* Card, American Express^® Aeroplan^®* Business Reserve Card and the American Express Aeroplan Corporate Reserve Card.
• Core and Business cards: TD^® Aeroplan^® Visa Infinite* Card, American Express^® Aeroplan^®* Card, CIBC Aeroplan^® Visa Infinite* Card, TD^® Aeroplan^® Visa* Business Card, CIBC Aeroplan^® Visa* Business Card, the CIBC Aeroplan Visa Business Plus Card and the American Express Aeroplan Corporate Card.
• Entry cards: CIBC Aeroplan^® Visa* Card, TD^® Aeroplan^® Visa Platinum* Card and the CIBC Aerogold^® Visa Card.

15% off Air Canada flights

This is the headline benefit of the overhaul. The primary holder of an Aeroplan credit card pays 15% fewer points on Air Canada flight rewards. Two examples:

• One-way at 60,000 points: 51,000 points with the card, a saving of 9,000 points
• Business Class at 150,000 points: 127,500 points with the card, a saving of 22,500 points

What's more, the discount is already live. Aeroplan has been offering it as a promotion to all Canadian cardholders since September 10, 2026, under the name FLY15OFF, until midnight on January 11, 2027. From January 12, it becomes a permanent card benefit.

Which flights qualify?

During the briefing, Scott O'Leary cleared up some confusion caused by the first published terms. The discount applies to any one-way trip that includes at least one flight operated by Air Canada, including a connection on a partner airline. In other words, the itinerary does not need to be entirely on Air Canada.

For a round trip, the calculation is done direction by direction. For example, an Air Canada outbound with a partner connection gets the discount, while a return with no Air Canada segment stays at the full price. You can still book the full itinerary in one go: the system automatically applies the discount to the eligible portions.

A stackable discount

The 15% stacks with Priority Rewards, Flight Reward Certificates and promotional redemption offers. A Priority Reward applies to one person's full itinerary, including a round trip, a multi-city trip or a stopover, on top of the 15% on eligible portions.

The end of status-based preferred pricing

Until now, Aeroplan offered rather opaque preferred pricing to cardholders and Elite members. Scott O'Leary confirmed it: status-based price differences have been gradually phased out. Preferred pricing now depends solely on holding a co-branded card.

According to him, the old discounts were typically around 2% to 5%, even in the best cases. The 15% is therefore far more generous and, above all, predictable.

AC Wallet credits: $50 to $100 per year

Primary holders of Premium and Core cards receive a credit twice a year in their AC Wallet, usable on Air Canada travel.

Each deposit is valid for six months. The first one arrives on January 15, 2027. The two deposits in a given year don't stack with each other, since the first expires before the second arrives. However, they can be combined with any other credit already in your AC Wallet.

Maple Leaf Lounges around the world

Until now, Premium card access to Maple Leaf Lounges was limited to North America. From January 12, it extends to Air Canada lounges abroad, with one guest. Access to Air Canada Cafés in Canada remains.

I asked Scott O'Leary which lounges are covered. Today, that means London Heathrow and Frankfurt. Air Canada plans to add its renovated Paris lounge and a new lounge in Rome in 2027.

Another clarification from the briefing: access applies when departing on an Air Canada or Star Alliance member flight. For example, a Premium cardholder with no status departing Frankfurt on a United flight can enter the Maple Leaf Lounge. The benefit is limited to Air Canada lounges, however, and does not extend to the wider Star Alliance network.

To see all your access options, check our ranking of the best credit cards for Maple Leaf Lounge access.

Priority security for up to 8 companions

Premium cardholders get priority security at select airports worldwide, for themselves and up to eight companions on the same booking.

I asked whether this perk was equivalent to Star Alliance Gold status. Scott O'Leary's answer: Air Canada offers the same level as for its Aeroplan 50K members. If a 50K member is entitled to it at an airport, so is a Premium cardholder. At some airports, this corresponds to a lane such as Gold Track, but Air Canada does not officially present it as a Star Alliance Gold benefit.

The benefit activates automatically as soon as the Aeroplan number linked to the card is on the booking. It adds to the priority services already offered with Premium cards: priority check-in, priority boarding, priority baggage handling and priority airport standby.

Free 4th night and 4th day

The free 4th night on hotels booked with Aeroplan points used to be a promotion renewed each year. It becomes a permanent card benefit, for primary and additional cardholders.

New: the free 4th day applies to car rentals booked with Aeroplan points. The principle is the same: one free day for every four days. For example, an eight-day rental gets you two free days. According to TD, the benefit covers more than 300,000 hotels and more than 11,000 rental locations worldwide. Both benefits also stack with other current promotions.

Annual fees: the announced increases

Aeroplan does not comment on annual fees, since each bank sets its own. Two issuers have, however, disclosed their increases.

At TD, the new fees apply as of January 25, 2027, at your next renewal. TD will send an official notice by mail 30 to 60 days before the change. Additional cardholder fees are going up too:

• TD Aeroplan Visa Infinite Privilege: from $199 to $209
• TD Aeroplan Visa Infinite: from $75 to $80
• TD Aeroplan Visa Business: from $49 to $54

At American Express, the increase applies on the first annual fee billing date after January 12, 2027. CIBC has not yet announced its fees.

Scott O'Leary argues that, adjusted for Canadian inflation (CPI) since 2020, the fees remain a good deal. The argument holds for Core cards. It is more debatable for the American Express Reserve cards, as we'll see below.

Apply before the fee increase

If you were planning to apply for a TD or American Express Aeroplan card, now is the time. The increases only apply at the first annual fee billing after they take effect. By applying before, you pay the current fee for your first year while enjoying all the new benefits from January 12, 2027.

In practice, someone who opens an American Express Aeroplan Reserve Card in October 2026 pays a $599 annual fee, gets the AC Wallet credits, international lounge access and priority security from January, and only pays $799 at their first renewal, in October 2027. Keep in mind that the saving applies to the first year only: the new fees apply after that. Current welcome offers appear in the card boxes at the end of this article.

What American Express adds on top

American Express is also enhancing its own benefits on the American Express^® Aeroplan^®* Reserve Card and its Business version. According to its press release, the Reserve Card will offer the following benefits.

These additions come on top of existing benefits, including a free first checked bag for you and up to eight companions, and the annual Worldwide Companion Pass once the spending threshold is reached. For the list of restaurants eligible for the credit, see the finalists for Air Canada's Best New Restaurants.

3 points per dollar at Air Canada

This is the strongest differentiator for American Express Premium cards. The American Express^® Aeroplan^®* Reserve Card and its Business version earn 3 points per dollar on purchases made directly with Air Canada and Air Canada Vacations. By comparison, the TD^® Aeroplan^® Visa Infinite Privilege* Card and the CIBC Aeroplan^® Visa Infinite Privilege* Card earn 2 on the same purchases.

For example, a $5,000 Air Canada Vacations package earns 5,000 more Aeroplan points with an American Express Reserve card than with the TD or CIBC Premium card. For a traveller who pays for Air Canada flights and packages every year, the gap adds up quickly.

The benefit also applies to points bought during a booking, since that purchase is billed by Air Canada. A few thousand points short for a ticket? Our guide Buying Aeroplan Points With the American Express Aeroplan Reserve Card explains how to complete the booking and lower the real cost of those points thanks to the 3 points per dollar.

Our analysis: winners and caveats

What's really good

The 15% is a real game changer for anyone who redeems points on Air Canada. On a few Business Class tickets a year, the savings run into the tens of thousands of points. On top of that, the discount stacks with Priority Rewards, which makes them even more attractive.

Core cards come out as big winners. For example, the TD^® Aeroplan^® Visa Infinite* Card goes up by $20 but delivers $50 in AC Wallet credits, on top of the 15%. Even Entry cards, with no credit, get the full discount.

Finally, the Premium tier gains in comfort: lounges abroad, priority security for the whole family and a free 4th day on car rentals.

What deserves a caveat

The math for the TD Visa Infinite Privilege

The $100 increase on the TD^® Aeroplan^® Visa Infinite Privilege* Card is essentially covered by the $100 in AC Wallet credits. The 15%, lounges abroad and priority security then become a net gain, as long as you fly Air Canada at least twice a year.

Our verdict

This overhaul makes Aeroplan credit cards more rewarding for most travellers who redeem their points on Air Canada. Core cards offer the best value: a modest increase, $50 in credits and a 15% discount. For Premium cards, it all depends on how you use them: a frequent Air Canada traveller clearly comes out ahead, while an occasional traveller should run the numbers again before renewal. If you're eyeing a TD or American Express card, apply before the fee increase: you'll enjoy all these new benefits while paying the current fee for your first year.

As Scott O'Leary pointed out, these additions complement an already long list of benefits: free first checked bag, priority boarding, 10% Head Start and up to 25,000 Status Qualifying Credits (SQC) on eligible cards. To learn everything about the program, see our Aeroplan program page, our guide What is the best Aeroplan credit card for you? and our ranking of the best Aeroplan credit cards.

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Frequently asked questions about Aeroplan credit cards