CIBC Aeroplan Visa Infinite Privilege Card review

How the card earns Aeroplan points

The CIBC Aeroplan Visa Infinite Privilege has three earn rates. Air Canada purchases earn 2 points per dollar, gas, dining and groceries earn 1.5 points, and everything else earns 1.25 points. The higher base rate matters on a premium card, since much of your spending won’t fall into a bonus category.

Consider an example: $1,000 a month on gas, dining and groceries, $1,500 a month on everything else, and $3,000 a year on Air Canada flights. That adds up to 18,000 points from the everyday categories, 22,500 from other spending and 6,000 from flights, for 46,500 Aeroplan points a year.

The welcome offer

A welcome offer may be available on this card, but the number of points, any spending requirement and the timeline aren’t confirmed here. Check the current offer terms on CIBC’s website before you apply, and make sure any required spending fits your normal budget rather than pushing you to spend more than you planned.

Travel perks

The card’s premium benefits are lounge access, a free checked bag and a companion pass. For frequent flyers, these perks are where much of the value lies, and they’re also where the conditions matter most.

Before you count on them, check which lounges are included, who the checked bag benefit covers and what the companion pass requires to use. A perk you use several times a year can do more for you than the earn rates, while one you never use does nothing to offset the fee.

Fees, interest and the fine print

The annual fee is $599, or just under $50 a month. That’s a substantial cost, so plan to rely on the travel perks, not just the earn rates, to justify it.

Foreign currency purchases carry a 2.5% fee, adding about $25 to every $1,000 spent abroad. Purchases are charged 20.99% interest and cash advances 22.99%; paying the full statement balance by the due date avoids purchase interest. Review the card’s insurance coverage on CIBC’s website as well, so you know what’s included before you travel.

Who it suits, and who should look elsewhere

This card fits people who fly Air Canada often, want their Aeroplan earning on a Visa card, and will use lounge access, checked bags and the companion pass every year. The 1.5x rate on gas, dining and groceries also helps households that put most of their budget on one card.

It isn’t a good fit for occasional travellers, people who fly other airlines, or anyone who spends heavily in foreign currencies. In those cases, the $599 fee pays for benefits you won’t use. If you want a higher return on Air Canada spending specifically, the American Express Aeroplan Reserve Card earns 3x on Air Canada and Aeroplan purchases for the same fee.

How it compares

The TD Aeroplan Visa Infinite Privilege also costs $599, also earns Aeroplan points and also has a top rate of 2x, in its case on Air Canada and Aeroplan purchases, with a welcome offer of up to 85,000 Aeroplan points. The two are close, so compare the welcome offers and perk details side by side.

For a much lower fee, the CIBC Aeroplan Visa Infinite costs $139 a year, has a top rate of 1.5x on groceries and offers up to 50,000 Aeroplan points. You lose the premium perks but keep earning Aeroplan points for a fraction of the cost.

Before you apply

The recommended credit score is 760 or higher, and CIBC makes the final decision based on your full credit profile and income. Rates, perks and the welcome offer can change, so confirm the current terms on CIBC’s website before you apply.