Air Canada's co-branded card with Chase has been overhauled, and the timing matters for anyone sitting on a travel dream. The annual fee doubled from $95 to $195, but the revamped perks and a record welcome offer of up to 115,000 Aeroplan points are doing a lot of compensating.
The welcome bonus splits into two parts: 75,000 points after spending $4,000 in the first three months, then another 40,000 points if you hit $20,000 in spend within the first year. At The Points Guy's valuation of 1.5 cents per point, that full haul is worth roughly $1,725 — but only if a $20,000 spending target fits your real budget. Chase's 5/24 rule also applies, so if you've opened five or more personal cards in the past two years, approval is unlikely no matter your credit score.
The perks are where the refresh gets interesting. Every cardholder now gets automatic Aeroplan 25K elite status with no spending required, which means better award availability, priority services and a 15% discount on eligible Air Canada award bookings. There's up to $100 a year in Air Canada statement credits (two $50 chunks), a first free checked bag for you and up to eight companions on the same reservation, no foreign transaction fees, and a $120 credit every four years toward Global Entry or TSA PreCheck. Solid travel protections — trip delay, cancellation, baggage coverage — round it out.
Earning rates have shifted too. You'll pull up to 5 points per dollar on Air Canada purchases (3 from the card plus 2 from your 25K status), 3 points on non-Air Canada travel, and 3 points on dining and groceries — though that last category drops to 2 points per dollar from January 2027, so the card's everyday value quietly shrinks in the new year.
Who should care? If you fly Air Canada even a couple of times a year — Canada trips, transatlantic routings, or connections through Toronto, Montreal or Vancouver — the bag benefit, statement credits and 15% award discount can easily outweigh the higher fee. Aeroplan points also reach far beyond Canada via partners like United, making them useful for long-haul redemptions. If you're not an Air Canada flyer, this one probably isn't your card. For everyone else, the current welcome offer is the best the card has ever run, and the dining and grocery earning rate drops in 2027 — two reasons not to sit on the decision too long.
Story via The Points Guy.