Choosing a card
Amex Aeroplan vs Amex Aeroplan Reserve in Canada
On our example spending profile the American Express Aeroplan Card finishes the year $413 ahead: $132 of rewards net of its $120 regular annual fee, against −$281 for the American Express Aeroplan Reserve Card after its $599 fee. The American Express Aeroplan Reserve Card pays the higher recorded rate in all 9 categories both cards price, but its annual fee is $479 higher, which is what puts it behind on our example profile.
Is the Amex Aeroplan or the Amex Aeroplan Reserve better?
On our example spending profile the American Express Aeroplan Card finishes the year $413 ahead: $132 of rewards net of its $120 regular annual fee, against −$281 for the American Express Aeroplan Reserve Card after its $599 fee. The American Express Aeroplan Reserve Card pays the higher recorded rate in all 9 categories both cards price, but its annual fee is $479 higher, which is what puts it behind on our example profile.
Two American Express Aeroplan tiers with different fees and earning categories.
WalletReturn example spending of $2,000/month: groceries $500, dining $200, gas $150, transit $80, travel $100, recurring bills $200, entertainment $100, drugstore $40, online $300, other $330.
Put it into practiceAmerican Express Aeroplan CardHow do the two cards compare, fact by fact?
The two cards at a glance, on the same recorded facts. Amex Aeroplan leads by $413 a year before any benefits you would use are counted.
| Card facts | American Express Aeroplan Card | American Express Aeroplan Reserve Card |
|---|---|---|
| Annual fee | $120 | $599 |
| Rewards net of the annual fee (example profile) | $132 | −$281 |
| First-year value (welcome offer included) | $482 | $319 |
| Welcome offer recorded | $350 | $600 |
| Rewards program | Aeroplan | Aeroplan |
| Network | American Express | American Express |
| Income requirement | Not recorded | Not recorded |
| Purchase interest rate | Not recorded | 21.99% |
| Foreign transaction fee | Not recorded | Not recorded |
Rewards net of the annual fee are the year’s estimated rewards after the card’s regular fee, excluding any welcome offer. First-year value adds a welcome offer where the card supports one. Both use the same example spending profile for every card.
A “Not recorded” entry means our catalogue does not hold that fact for the card. It is an unknown, not a favourable fact, and we never fill the gap by assumption.
Which card pays more in each category?
The American Express Aeroplan Card pays the higher recorded rate in 0 of the 9 categories both cards price, the American Express Aeroplan Reserve Card in 9. An asterisk marks a rate that draws on a capped limit.
| Category | American Express Aeroplan Card | American Express Aeroplan Reserve Card |
|---|---|---|
| TopGroceries | 1% | 1.25% |
| Dining | 1% | 1.25% |
| Gas | 1% | 1.25% |
| Transit | 1% | 1.25% |
| Recurring bills | 1% | 1.25% |
| Travel | 1% | 1.25% |
| Drugstores | 1% | 1.25% |
| Online shopping | 1% | 1.25% |
| Entertainment | 1% | 1.25% |
A bonus rate applies only to purchases that record in that category. Merchant classification decides it, so a purchase in the same store can earn differently.
Across the 9 categories both cards price, the Amex Aeroplan is higher in 0, the Amex Aeroplan Reserve in 9.
Neither card records a cap on its bonus categories.
American Express Aeroplan Card base rate: 1% on purchases outside its bonus categories. American Express Aeroplan Reserve Card base rate: 1.25% on purchases outside its bonus categories.
Do the bonus rates have caps?
Our catalogue records no bonus-category cap for either card on the categories it prices.
American Express Aeroplan Card: no bonus-category cap recorded. American Express Aeroplan Reserve Card: no bonus-category cap recorded.
A cap is often shared between categories — groceries and dining on one card can use the same allowance, so spending in one reduces what is left at the bonus rate in the other.
An unrecorded cap is an unknown, not a promise that no cap exists. Confirm the current terms with the issuer before relying on a rate.
Is the extra annual fee worth it?
On our example profile, no: the American Express Aeroplan Reserve Card charges $479 more a year and finishes $413 behind the American Express Aeroplan Card. Its fee has to be justified by benefits you would otherwise pay for, not by these earning rules.
| Measure | Amex Aeroplan | Amex Aeroplan Reserve |
|---|---|---|
| TopAnnual fee | $120 | $599 |
| Rewards net of the fee (example profile) | $132 | −$281 |
| Difference | Amex Aeroplan by $413 |
This arithmetic uses our example profile: WalletReturn example spending of $2,000/month: groceries $500, dining $200, gas $150, transit $80, travel $100, recurring bills $200, entertainment $100, drugstore $40, online $300, other $330. A smaller month of bonus-category spending has to earn the fee back on less.
The fee gap alone is $479 a year. Rewards net of the annual fee already account for that, which is why the two cards can be compared on one number.
If either card’s fee is waived or rebated in the first year, that changes year one only. Compare the regular fee for a card you plan to keep.
How do the first-year values compare?
With welcome offers included, the American Express Aeroplan Card leads the first year at $482, and it also leads on ongoing rewards at $132.
| Measure | Amex Aeroplan | Amex Aeroplan Reserve |
|---|---|---|
| TopWelcome offer recorded | $350 | $600 |
| First-year value (offer included) | $482 | $319 |
| Rewards net of the annual fee | $132 | −$281 |
A welcome offer is conditional: it usually needs a minimum spend inside a set period, and it pays once. Ongoing rewards are what the card is worth in a normal year after its fee.
Which card should I pick?
On our example spending, the American Express Aeroplan Card. If your spending is concentrated in Groceries, Dining and 7 more, the American Express Aeroplan Reserve Card becomes the better fit.
If you expect to carry a balance, compare the purchase interest rates first: this comparison prices rewards only and does not deduct interest.
WalletReturn is paid by affiliate links on some cards. Compensation does not change an estimate, a cap or the order of any ranking, and we do not predict approval odds or eligibility.
How do I check this against my own spending?
Enter your own monthly amounts by category in Find My Card and the totals are recalculated for both cards with their caps and post-cap rates applied.
Compare puts two cards side by side, and the Rewards Calculator shows the arithmetic for one card at a time. My Wallet keeps the pair you actually hold.
Every card is put through the same earn rules, cap records and welcome offers. Where a card’s terms do not document something, it stays unrecorded on its product page and in this article.
Keep reading
RankingsBest American Express Cards in CanadaEvery Amex and Amex-network card in Canada ranked by first-year value, including Scotiabank’s Amex cards. Top: Scotiabank Gold American Express ($1,011).
RankingsBest Aeroplan Credit Cards in CanadaEvery Aeroplan credit card ranked by first-year value, from the TD and CIBC Visa Infinite cards to the premium Privilege cards and Amex Aeroplan cards.
RankingsBest Credit Cards for Groceries in CanadaThe Canadian credit cards that pay the most at grocery stores, with the real return per dollar: MBNA Rewards World Elite Mastercard, National Bank World Elite Mastercard, BMO CashBack World Elite Mastercard all earn 5%.
RewardsBest Credit Card Combinations in CanadaNo single card leads every category: the best grocery rate we track is 5.00%, the best gas rate is 4.00% and the best online rate is 2.00%. A second card can cover what the first one misses.
Official sources and further reading
- FCAC: choosing a credit card ↗
- FCAC: how credit cards work ↗
- American Express: product terms ↗
- American Express: product terms ↗
Terms vary by product. Confirm the provider’s current terms before acting. This guide does not predict approval, realized value or credit-score changes. How WalletReturn calculates value