Credit cards eligible for the CIBC Aeroplan promotion
The following CIBC credit cardholders will be eligible for the CIBC Aeroplan promo if the account is active and in good standing.
- CIBC Aeroplan® Visa* Card
- CIBC Aeroplan® Visa Infinite* Card
- CIBC Aeroplan® Visa Infinite Privilege* Card
- CIBC Aeroplan® Visa* Business Card
Don’t forget to register here to activate the offer.
The terms and conditions state that bonus points can be expected up to 8-10 weeks after the end of the offer period.
Is this a good promotion?
However, by earning 2 Aeroplan Bonus Points per dollar, you could be a winner with the CIBC Aeroplan Promotion depending on how you use those points.
Actually these are “bonus points,” i.e. points that are added to the usual earning ratio of your Aeroplan credit card according to the purchase categories:
For avoidance of doubt, the bonus points awarded pursuant to this Offer during the Offer Period will be in addition to Aeroplan points earned on qualifying purchases under the standard base earn rate as set out in the Aeroplan Terms and Conditions for the Eligible Account.
So with a CIBC® Aeroplan® Visa Infinite Privilege* CardCard, you earn 1.25 Aeroplan Points for every dollar you spend. In the case of this promotion, you will earn 3.25 points per dollar on foreign currency purchases.
On Milesopedia, we give a valuation of 2¢ per Aeroplan point. Therefore, one dollar would generate 6.5¢ ($1 = 3.25 points x 2¢ = 6.5¢ = 6.5%).
When the 2.5% conversion fee is taken into account, the net return is a positive 4% (6.5% – 2.5%). This is an excellent earning rate considering that it will be like this for all your travel expenses abroad!
This can be compared with one of the best no-conversion-fee credit cards in Canada, the HSBC World Elite® Mastercard®.
With this card, you earn between 3 and 6 points per dollar, a return of 1.5 to 3%. Except that when you use a CIBC credit card with the CIBC Aeroplan promotion, you earn Aeroplan points, not HSBC Rewards points!
To choose the right card for travel, you need to consider the type of rewards you want to earn as well.
Then, in certain situations, this CIBC Aeroplan promotion is even more attractive. For example, if your goal with Aeroplan points is to fly business class or even first class, the value of a point can climb to over 5¢ per point!
In this case, one dollar would give you a value of 16.25¢ ($1 = 3.25 points x 5¢ = 16.25¢). So your net return could be 13. 75% (16.25% – 2.5%) with the CIBC Aeroplan promo, despite the conversion fee.
Don’t forget to register for this promotion to be able to take advantage of it!
It all depends on your earning goals and how you use the points you earn. It’s up to you to make your own calculations based on your situation.