Neo Mastercard® vs American Express® Aeroplan®* Reserve Card: Which one is better?
Neo Mastercard®
2.7
American Express® Aeroplan®* Reserve Card
4.1
Finly Rebate
Finly Rebate
N/A
Rewards Breakdown
Annual Rewards
$181.33
First Year Bonus Value
$0
Annual Fee
$0
Finly Rebate
$50Exclusive Offer
First Year Value
$231.33
Based on $2,000/mo average spending. Calculate your rewards.
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 $2,000/mo average spending. Calculate your rewards.
Insurance Included
Balance Protection
optional add on
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 Out of province Medical
$5M/insured up to 15 days
Trip Cancellation
$1.5K/person, $3K/trip
Trip Interruption
$1.5K/person, $6K/tripFlight Delay
$1,000/person after 4 hours
Extra Benefits
Neo Premium ($4.99/month)
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Neo Travel Benefits ($4.99/month)
Neo Food Cashback boost ($1.99/month)
Neo Mind and Body Perks ($9.99/month)
Extra Benefits*
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 WestJet 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!
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
Interest Rates
Purchase:
19.99% - 29.99%
Cash Advance:
22.99% - 31.99%
Interest Rates*
Purchase:
21.99%2
Cash Advance:
21.99%2
Annual Fee
$0
Annual Fee*
$599
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Welcome Bonus
N/A
Welcome Bonus*
New American Express® Aeroplan®* Reserve Cardmembers can earn up to 130,000 Aeroplan points. Earn 60,000 points after you spend $7,500 on your Card in your first 3 months of Cardmembership. Plus, earn an additional 40,000 points after you spend a total of $45,000 on your Card in your first 12 months of Cardmembership. You can also earn 30,000 points when you make a purchase between 15 and– 17 months of Cardmembership. That’s up to $3,500 or more in value when you combine your bonus points and card benefits. Offer ends August 18, 2025.
Rewards Rate
- 1% cash back on grocery purchases up to $500 spending per month (3% cash back with $5k in a Neo everyday account, and 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
- 1% cash back on gas purchases up to $500 spending per month (3% cash back with $5k in a Neo everyday account, and 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
- 0% cash back on all other purchases with $0 in a Neo everyday account, or 0.5% cash back with $5k in a Neo everyday account up to $1,667 spending per month, or 1% cash back with $10k in a Neo everyday account up to $1,667 spending per month - drops to 0% cash back again after hitting spend cap
- +5% earned on average at Neo Partners.
Note: our reward calculations use the base cash back rates assuming you do not hold any money in a Neo everyday account to earn the higher tier (boosted) cash back rates, otherwise the reward estimates may be higher.
Rewards Rate*
- 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
Loyalty Program
N/A
Loyalty Program*
Point Redemption Options
Not Applicable
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
Is this card worth it?
The Neo Credit Card is special because it earns rewards based on whether the merchant is a partner or not. Most of the time, the cashback earned at these partners is the highest possible compared to all other credit cards. However, we don't recommend using this card as your main credit card and suggest using it only at partner merchants. This is because the rewards at non-partner merchants are very small, and most merchants are not partnered with Neo.
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.
Pros
- High cash back on grocery and gas if you're willing to hold at least $5k in a Neo everyday account
- Unique cashback program which earns cashback based on partner instead of purchase category.
- Massive cashback at some partners that any other credit card couldn't beat.
- Unique benefit system where perks could be bought with a monthly fee and cancelled after use.
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.
Cons
- Base Cash back is very low when you do not hold any money in a Neo everyday account
- No built-in purchase protection and extended warranty benefit.
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.
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