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** Update: American Express® AeroplanPlus®* Reserve Card has been discontinued by Amex Canada, as of January 10, 2020

The American Express® AeroplanPlus® cards have long been considered the fastest Aeroplan earning cards in Canada. Amex Canada, recently announced an enhanced welcome bonus opportunity on American Express® AeroplanPlus®* Reserve Card  and the American Express® AeroplanPlus®* Platinum Card . The conversations about these premium cards usually start with the high annual fees, but quickly shift focus to the generous benefits and if they are really worth the high annual fees. I thought it would be a good idea to breakdown the true value of the benefits that come with the cards, and answer the age old question – Is it really worth it?

American Express® AeroplanPlus®* Platinum Card

Before we dive into the valuation, here us a quick glance at the annual fee and the benefits;

American Express® AeroplanPlus®

  • Annual Fee: $499
  • Welcome Bonus: 40,000 Aeroplan miles (with $3,000 spend in 3 months)
  • Key Benefits:
    • Annual Partner Ticket for a short-haul roundtrip (Fixed Mileage Flight Reward, up to 15,000 Aeroplan Miles)
    • Unlimited access to the Air Canada Maple Leaf Lounges where available, and Priority Pass lounges.
    • Complimentary valet service and 15% discount on parking rates at YYZ
    • Access Pearson Priority security lane at Terminals 1 and 3 at YYZ
  • Earning Rate:
    • 1.25 Aeroplan miles for every $1 charged to the Card, up to $25,000
    • Accelerate to 1.5 Aeroplan miles for every $1 charged to the Card, above $25,000 annually
  • Other Benefits:
    • Comprehensive Travel and shopping Insurance coverage

 

Annual Fee of $499 – Is it worth it?

Again, everyone values miles and points differently. For the purposes of this valuation I am going with my personal valuation of Aeroplan mile at 1.8 cents per mile.

Based on my personal valuation (in CAD);

Welcome Bonus: $720 (40,000 x 1.8)
Annual Partner Ticket: $270 (25,000 x 1.8) 
Unlimited Maple Leaf Lounge Access:
 $375 (Maple Leaf Club North America Plus)

Total Value: $1365

Is it worth it? Sure is! American Express® AeroplanPlus®* Platinum Card is a card for a frequent traveler that’s looking to fast track their Aeroplan earning while leveraging premium travel benefits that accompany the card.