Platinum Card or Aeroplan Reserve Card from American Express — which offers the best welcome bonus?

The American Express Platinum Card currently offers up to 170,000 Membership Rewards points, an estimated value of approximately $2,890 based on our 1.7 cents per point valuation. Meanwhile, the American Express Aeroplan Reserve Card offers up to 150,000 Aeroplan points, a value of approximately $3,000 based on our 2 cents per point valuation. Both bonuses are among the best in Canada. The Aeroplan Reserve Card will be more suitable for travellers loyal to Air Canada, while the Platinum Card remains the most flexible choice thanks to its many transfer partners, including Aeroplan, Marriott Bonvoy, and British Airways Executive Club.

What are the net annual fees after credits on each card?

The Platinum Card costs $799 per year, but includes an annual travel credit of $200 and a dining credit of $200 — which brings the net fees down to approximately $399 for cardholders who use both credits. The American Express Aeroplan Reserve Card costs $599 per year, without automatic credits, but includes the worldwide companion pass with $25,000 in annual spending (potential value of several hundred dollars on a flight). On paper, the Platinum Card is cheaper after credits, but the Aeroplan Reserve Card can generate more value for an active Air Canada traveller who triggers the companion pass every year.

Which card provides access to Air Canada Maple Leaf lounges?

Only the American Express® Aeroplan®* Reserve Card provides unlimited access to Air Canada Maple Leaf lounges in North America when you travel on the same day on an Air Canada operated flight. The Platinum Card provides access to Priority Pass lounges (1,400 lounges worldwide) and American Express Centurion lounges, but not to Maple Leaf lounges. For a loyal Air Canada traveler who regularly transits through YUL, YYZ, YVR, or YYC, the Aeroplan Reserve Card offers a superior Air Canada airport experience. For global coverage, the Platinum Card remains unrivaled in Canada.

Which of the two earn rates is more advantageous for everyday spending?

The Platinum Card earns 3 points per dollar for hotels and car rentals booked through American Express Travel, 2 points per dollar for restaurants, bars, and travel, and 1 point per dollar elsewhere. The Aeroplan Reserve Card earns 3 Aeroplan points per dollar on Air Canada and Air Canada Vacations purchases, 2 points on restaurants and food delivery, and 1.25 points on other purchases. The Reserve Card has an advantage on direct Air Canada purchases and a better base rate of 1.25x. The Platinum Card dominates for hotels and restaurants. Choose according to your dominant spending profile.