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American Express® Aeroplan®* Reserve Card vs SimplyCash™ Preferred Card from American Express: Which one is better?
American Express® Aeroplan®* Reserve Card
SimplyCash™ Preferred Card from American Express
Welcome Bonus
New American Express® Aeroplan®* Reserve Cardmembers can earn up to 85,000 Aeroplan points. Earn 60,000 Aeroplan points after spending $7,500 in purchases on your Card within the first 3 months. Plus, earn an additional 25,000 Aeroplan points when you spend $2,500 in purchases in month 13. That’s up to $2,600 or more in value when you combine your welcome bonus points and card benefits.
Welcome Bonus
Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.
Rewards Breakdown
Annual Rewards
$659.8
Air Canada Aeroplan®
First Year Bonus Value
+
$0
Air Canada Aeroplan®
Annual Fee
-
$599
First Year Value
$60.8
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
While the first year bonus value here may show $0, the actual welcome bonus offer for this credit card is Earn up to 85,000 Aeroplan points, which we value at $1,785 when you meet the minimum spending or other listed requirements. The value of $0 here was derived based on numbers in the spending inputs and whether you meet the minimum listed requirements.
Rewards Breakdown
Annual Rewards
$534.23
First Year Bonus Value
+
$200
Annual Fee
-
$119.88
First Year Value
$614.35
$414.35 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
How to Earn Rewards
- 3x Aeroplan® points per $1 spent on eligible Air Canada® and Air Canada Vacations® purchases
- 2x Aeroplan® points per $1 spent on eligible dining & food delivery purchases
- 1.25x Aeroplan® points per $1 spent on all other purchases
How to Earn Rewards
- 4% cash back on eligible gas station purchases in Canada
- 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back annually)
- 2% cash back on all other eligible purchases
Insurance Included
Lost or Stolen Baggage
$1K
Baggage Delay
$1K/person after 6 hours.svg)
Car Rental Damage & Theft
$85K Up to 48 consecutive rental days
Travel Accident
$500,000
Extended Warranty
1 years
Purchase Protection
90 days
Hotel Burglary Insurance
$1000
Emergency Medical Term
$5M/insured up to 15 daysFlight Delay
$1,000/person after 4 hours
Trip Cancellation
$1.5K/person, $3K/trip
Trip Interruption
$1.5K/person, $6K/trip
Insurance Included
Lost or Stolen Baggage
$500Baggage Delay
$500Car Rental Damage & Theft
$85K up to 48 daysTravel Accident
$100,000Extended Warranty
1 yearPurchase Protection
90 daysHotel Burglary Insurance
$500Emergency Medical Term
$5M/insured PersonFlight Delay
$500
Mobile Device Insurance
$1,000
Extra Benefits
Amex Experiences™
Amex Experiences™ opens doors for you to access a number of special events, including special dining experiences, VIP parties, advance film screenings and more
Companion Voucher
Annual Worldwide Companion Pass from $99 to a max of $599 After spending $25,000 on your card.svg)
Status lift
Reach Aeroplan Elite™ Status sooner by earning 1,000 Status Qualifying Miles and one (1) Status Qualifying Segment for every $5,000 of net purchasesStatus lift
Complimentary upgrade to Avis® President's ClubStatus lift
Primary Cardholders who also hold Aeroplan Elite Status can roll over up to 200,000 Status Qualifying Miles (SQM) beyond the status level for which they’ve qualified, from the prior qualification year to qualify for status the next year.Status lift
Primary Cardholders who also hold Aeroplan Elite Status will benefit from an extra 12 months to use eUpgrade credits, for a total of 24 months from issuance..svg)
Free first checked bag
First checked bag is free for primary cardholder on Air Canada branded flight and up to 8 guests
Extra points
Earn points twice at over 150 Aeroplan partner brands and over 170 online retailers through the Aeroplan eStore
Free Extra Night at Hotels
Cardmembers can now get an extra night free for every 3 hotel nights redeemed with Aeroplan points. Enjoy even more at over 300,000 hotel properties worldwide
Nexus Program Rebate
$100 every 4 years
Priority Travel
At Toronto Pearson airport get benefits such as Priority Security lane, Complimentary valet, premium parking spots, priorioty taxi and limo lane and discount for parking and car care.Priority Travel
Get Priority Check-in, Priority Boarding and Priority Baggage Handling, Priority Airport Standby & Priority Airport Upgrades for you, your authorized users and up to 8 companions on the same flight (Only AirCanada)
Airport Lounge - Maple Leaf and AirCanada Cafes
Unlimited Access for you and one guestAirport Lounge - Priority Pass
Pass only. No Complimentary visits!
Extra Benefits
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Interest Rates
Purchase:
21.99%1
Cash Advance:
21.99%1
1 If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
Interest Rates
Purchase:
21.99%2
Cash Advance:
21.99%2
2 If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
Annual Fee
$599
Annual Fee
$119.88 (paid monthly)⁕
⁕ For Quebec residents, $119/year.
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Loyalty Program
Loyalty Program
N/A
Point Redemption Options
Most Optimal
Aeroplan® Flights
2.1¢ / point
Car Rentals
0.9¢ / point
Travel
0.825¢ / point
Merchandise
0.75¢ / point
Gift Cards
0.72¢ / point
Point Redemption Options
Not Applicable
Is this card worth it?
If you are a frequent Air Canada traveler, having an Aeroplan card for perks like free checked bags and priority service can be very beneficial. Many financial institutions offer Aeroplan cards, but I don't believe the American Express version is the best one. Opting for another option might be better. However, the Amex card does have a very large sign-up bonus, making it a great choice for those specifically seeking that.
Is this card worth it?
The Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.
Pros
- Generous rewards rate with up to 3 Aeroplan points per $1 spent on purchases, particularly beneficial for frequent flyers.
- Enjoy free checked bags when flying with Air Canada, reducing travel costs.
- Access to preferred pricing on Aeroplan flight awards, maximizing the value of your points.
- Unlimited access to Maple Leaf lounges when flying with Air Canada, providing a more comfortable travel experience.
- Extensive insurance coverage, including 11 types of insurance, offering peace of mind during your travels.
Pros
- Highest cashback rate on groceries and gas in Canada
- Great base cashback rate for all purchases
- 10 different insurance types included
Cons
- As an American Express card, it may have limited acceptance compared to other credit cards, potentially limiting its use in some places.
- The most valuable rewards are generally tied to Air Canada flights, which may not appeal to travelers who fly with other airlines.
- The card comes with a high annual fee of $599, which may be a consideration for budget-conscious users.
- The unlimited lounge access is limited to Maple Leaf Lounges and Air Canada Cafe lounges which don't have a great worldwide coverage.
Cons
- Cash back is only paid out to you once a year
- American Express has a lower merchant acceptance compared to Visa or Mastercard
vs Marriott Bonvoy® American Express®* Card
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vs American Express® Aeroplan®* Card
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vs SimplyCash® Card from American Express
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vs MBNA Rewards World Elite® Mastercard®
vs American Express Gold Rewards Card®
vs Rogers Red World Elite® Mastercard®
vs Scotiabank Passport® Visa Infinite* Card
vs Scotiabank Gold American Express® Card
vs American Express Cobalt® Card
vs Marriott Bonvoy® American Express®* Card
vs American Express Platinum Card®
vs SimplyCash® Card from American Express
vs American Express® Aeroplan®* Card
vs Scotia Momentum® Visa* Card
vs CIBC Costco Mastercard
vs CIBC Aeroplan® Visa Infinite* Card
vs BMO CashBack® World Elite® Mastercard®
vs Tangerine Money-Back Credit Card
vs Amazon.ca Rewards Mastercard®
vs PC World Elite Mastercard
vs American Express® Green Card
vs Simplii Financial™ Cash Back Visa* Card
vs RBC ION+ Visa
vs American Express Gold Rewards Card®
vs Rogers Red World Elite® Mastercard®
vs Rogers Red Mastercard®
vs American Express Cobalt® Card
Legal
*Terms and conditions apply.
If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
*Terms and conditions apply.
If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.