Aeroplan's Canadian credit cards are getting their biggest refresh since 2020. From January 12, 2027, every TD, CIBC and American Express Aeroplan card gets 15% off the points price of Air Canada flight rewards, plus a free fourth night on hotel redemptions and a free fourth day on car rentals. The mid-tier and premium cards add Air Canada credits, the premium cards get Maple Leaf Lounges worldwide, and most annual fees go up, by as much as $200.
The part most coverage skips: the 15% discount isn't a premium-card perk. It comes with every Aeroplan card, including the no-fee CIBC Aeroplan Visa. If the discount is what you want, you don't need to pay more for it.
What every Aeroplan card gets
- 15% off Air Canada flight rewards. The points price of the base fare drops by 15% on flights operated by Air Canada, Air Canada Rouge or Air Canada Express, and on some itineraries that pair an Air Canada flight with an eligible partner. Taxes and fees aren't discounted. It's for primary cardholders only, and you have to be logged in to Aeroplan when you book. It's live now: Air Canada has run it as the FLY15OFF promotion since September 10, 2026, and it becomes a permanent card benefit on January 12. It replaces the "preferred pricing" cardholders already had on Air Canada flights rather than adding to it, and the 15% is measured against what a member without an Aeroplan card pays.
- Fourth night free on hotel stays of four or more nights booked with points in one reservation.
- Fourth day free on car rentals of four or more days booked with points.
What the paid cards add
- Core cards (TD and CIBC Aeroplan Visa Infinite, Amex Aeroplan Card): $50 a year in AC Wallet credit, paid as $25 on January 15 and $25 on July 15.
- Premium cards (TD and CIBC Aeroplan Visa Infinite Privilege, Amex Aeroplan Reserve): $100 a year in AC Wallet credit ($50 twice a year), Maple Leaf Lounges worldwide for you and one guest instead of North America only, and priority security lanes at select airports for you and up to eight companions on the same booking.
- Amex Aeroplan Reserve only: a $200 annual dining credit at restaurants on Air Canada's Best New Restaurants list, up to six Priority Pass visits and eight Amex Aspire lounge visits in Canada a year, and a 10% points bonus once you spend $125,000 in a year (another 10% for each further $25,000, up to $400,000).
Read the AC Wallet terms before counting that credit as cash. Each deposit expires six months after it lands, and it only applies to Air Canada flights paid with money, not to flight rewards. If you fly Air Canada at least twice a year on paid tickets, it's close to cash. If you only ever fly on points, it's worth nothing.
The new annual fees
| Card | Fee now | From 2027 | Change | New annual credit |
|---|---|---|---|---|
| CIBC Aeroplan Visa | $0 | $0 | none announced | none |
| TD Aeroplan Visa Platinum | $89 | $89 | none announced | none |
| Amex Aeroplan Card | $120 | $150 | +$30 | $50 |
| TD Aeroplan Visa Infinite | $139 | $159 | +$20 | $50 |
| CIBC Aeroplan Visa Infinite | $139 | $159 | +$20 | $50 |
| TD Aeroplan Visa Infinite Privilege | $599 | $699 | +$100 | $100 |
| CIBC Aeroplan Visa Infinite Privilege | $599 | $699 | +$100 | $100 |
| Amex Aeroplan Reserve | $599 | $799 | +$200 | $100 AC Wallet + $200 dining |
When you'll pay it: CIBC's new fees take effect January 12, 2027. TD's take effect January 25, 2027, and existing cardholders pay the new fee at their first annual fee date on or after that. Amex's new fees apply from January 12, 2027; if you already hold the Reserve or Business Reserve, you pay the new fee on your first annual fee billing date after that, not in January. The Amex Aeroplan Business Reserve moves from $599 to $799 like the personal Reserve. Additional-card fees rise too.
Do the credits cover the increase?
Mostly, if you use them. Count only the AC Wallet credit you would genuinely spend:
- Visa Infinite cards: +$20 in fees against $50 in credit. You come out $30 ahead.
- Amex Aeroplan Card: +$30 against $50. You come out $20 ahead.
- Visa Infinite Privilege cards: +$100 against $100. Break-even; the worldwide lounges and priority security are the upside.
- Amex Aeroplan Reserve: +$200 against $300 of credits, but $200 of that is a dining credit tied to one restaurant list. If you won't eat at those restaurants, the Reserve costs you $100 more a year than it does today.
If you never fly Air Canada on paid tickets, every paid card simply got more expensive, and the free benefits are the same ones the $0 card gets.
What the 15% is worth
The figures below compare a cardholder with a member who has no Aeroplan card. If you already hold one, part of this you were getting through preferred pricing, which the discount replaces, so your extra saving is smaller and varies by flight. For anyone getting their first Aeroplan card, it's the full amount. On Air Canada's own chart:
- A short hop like Vancouver to Calgary starts at 6,000 points; with the discount, 5,100. At the median members actually paid, 13,000, it's 11,050.
- Toronto to Vancouver starts at 12,500 points (10,625 with the discount), and its median of 17,000 drops to 14,450.
That's 2,550 fewer points than a non-cardholder pays on one typical one-way across the country, about $48 at our 1.9¢ Aeroplan valuation. Four of those a year saves about 10,000 points, roughly $190. Our flight reward calculator shows the "from" and median prices for any two airports; take 15% off the points to see what a cardholder pays.
Put another way, on Air Canada flights a cardholder's point goes about 18% further than a non-cardholder's. Economy redemptions that return 1.0 to 1.5 cents a point return roughly 1.2 to 1.8 cents with the discount.
We're not changing our 1.9¢ mark for this. It's anchored on partner business-class redemptions on the fixed chart, and the discount reaches those only when an Air Canada flight is on the same itinerary. It also only applies to cardholders, and our valuation is for every member. We'll look at it again in the November index.
Who should do what
- You fly Air Canada on points and don't use lounges: hold the CIBC Aeroplan Visa. It gets you the full 15% discount for $0, and as a primary cardholder your points can't expire, which matters with the inactivity rule returning on November 30.
- You hold a Visa Infinite and fly Air Canada on paid tickets twice a year: keep it. The $50 credit more than covers the $20 increase.
- You hold a Privilege card for the lounges: worldwide Maple Leaf access is a real gain if you fly long-haul on Air Canada. If you mostly use the lounges in Canada, nothing changes for you except the fee, now matched by the credit.
- You hold the Amex Aeroplan Reserve: the $200 increase is the biggest of the lot. Price the dining credit honestly, and compare the Reserve with the TD and CIBC Privilege cards, which now cost $100 less for the same Air Canada lounge and security benefits.
Two things to remember: the discount is for primary cardholders only, so a partner on your account as an additional cardholder doesn't get it on their own bookings, and you can compare every option in our Aeroplan card ranking.
Benefit terms, including the replacement of preferred pricing, from Air Canada's September 29, 2026 announcement and its card benefits page. Fees and dates from TD's and CIBC's own card pages, and from American Express's announcement as reported by TravelPulse and PAX. Checked October 17, 2026.