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TD Aeroplan Promo: Bonus points on Foreign Exchange Purchases

To the point This summer, you can earn extra Aeroplan points when you pay for your foreign exchange purchases with the TD Aeroplan promo!

Selected TD credit cardholders will be able to earn 2 Aeroplan points per dollar on all foreign currency purchases from June 30 to August 31, 2022 as part of this TD Aeroplan promotion.

One sign that Revenge Travel is well established is the airports’ chaos, but on a more positive note, it is also the arrival of promotional offers targeting travel purchases!

Credit cards eligible for the TD Aeroplan promo

The following TD credit card holders will be eligible for the TD Aeroplan promo if the account is active and in good standing.

Don’t forget to register here to activate the offer.

The terms and conditions state that bonus points can be expected up to 68 weeks after the end of the offer period. This is probably a typo; 6-8 weeks would be more accurate when compared to the terms of similar TD Aeroplan promo offers in the past.

Is this a good promotion?

TD credit cards charge a 2.5% conversion fee on foreign currency transactions instead of credit cards without a conversion fee.

However, by earning 2 Aeroplan bonus points per dollar, you could be a winner with the TD Aeroplan promo, 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 TD® Aeroplan® Visa Infinite Privilege* Credit Card, you earn 1.25 Aeroplan points for every $1 in card purchases. 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 by using a TD credit card with the TD Aeroplan promo, 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, this TD Aeroplan promotion is even more interesting in certain situations. 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 TD Aeroplan promo, despite the conversion fee.

Finally, you will also get the best exchange rate since Visa will charge you the daily rate (adding a conversion fee).

Conclusion

Is it more beneficial to use a TD credit card with the TD Aeroplan promo or a credit card with no conversion fees on foreign currency purchases?

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.

Come to discuss that topic in our Facebook Group!

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