CIBC Aeroplan® Visa Infinite* Card vs CIBC Costco Mastercard: Which one is better?

CIBC Aeroplan® Visa Infinite* Card

3.3

Finly Rating

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

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CIBC Costco Mastercard

2.8

Finly Rating

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Welcome Bonus

10,000 Aeroplan points when you make your first purchase. 20,000 Aeroplan points when you spend $5,000 or more during the first 4 statements periods. 20,000 Aeroplan points as an additional anniversary bonus when you have at least $15,000 in net purchases posted on your account during the first 12 monthly statement periods.

Welcome Bonus

N/A

Rewards Breakdown

Annual Rewards

$541.37

Air Canada Aeroplan®

First Year Bonus Value

$1,050

Air Canada Aeroplan®

Annual Fee

$139

First Year Waived

First Year Value

$1,452.37

$402.37 in years after

Based on a hypothetical $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$347.33

First Year Bonus Value

Annual Fee

First Year Value

$347.33

Based on a hypothetical $2,000/mo average spending. Calculate your rewards.

How to Earn Rewards

1.5 Aeroplan® points per $1 spent on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
1 Aeroplan® point per $1 spent on all other purchases

How to Earn Rewards

3% cash back on Restaurants
3% cash back on Costco Gas stations and 2% cash back on non-Costco Gas up to a combined maximum of $5,000 in spending (max $150 cashback per year)
2% cash back on Costco.ca purchases up to $8,000 in spending (max $160 cashback per year)
1% on everything else

Insurance Included

Mobile Device Insurance

$1,000

Extended Warranty

Up to 1 year

Purchase Protection

90 days

Lost or Stolen Baggage

$500

Baggage Delay

$500

Car Rental Damage & Theft

yes

Travel Accident

$500,000

Hotel Burglary Insurance

$2,500

Emergency Out of province Medical

15 days

Emergency Medical Over 65

3 days

Trip Cancellation

$1,500

Trip Interruption

$2,000

Flight Delay

$500

Insurance Included

Mobile Device Insurance

$1000

Extended Warranty

Up to a year

Purchase Protection

Up to 90 days

Extra Benefits

Car Rental Discount

Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.

Visa Infinite Exclusive Benefits

Exclusive offers

Gas Discount

save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations

Discount

Primary cardholders can often book flight rewards for even fewer points

Status lift

Reach Aeroplan Elite Status sooner: Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $10,000 in eligible purchases made on your card

Free first checked bag

Enjoy a free first checked bag for you, authorized users and up to 8 companions every time you fly with Air Canada

Free Extra Night at Hotels

Extra night free for every 3 hotel nights redeemed with Aeroplan points

Extra Benefits

N/A

Interest Rates

Purchase:

20.99%

Cash Advance:

22.99%

Balance Transfer:

22.99%

Interest Rates

Purchase:

20.75%

Cash Advance:

22.49%

Balance Transfer:

22.49%

Annual Fee

$139

$0$

First Year Waived

Annual Fee

Income Required

Min Personal Income:

$60,000

Min Household Income:

$100,000

Income Required

Min Personal Income:

$15,000

Min Household Income:

N/A

Loyalty Program

Air Canada Aeroplan®

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?

The CIBC Aeroplan Visa Infinite Card is great for Air Canada travelers who want to rack up Aeroplan points and enjoy perks like free checked bags and preferred pricing on flight redemptions. With solid reward rates in key spending categories like gas, groceries, and Air Canada purchases, this card offers decent returns. Additionally, the first-year annual fee waiver and comprehensive travel insurance make it a solid option for those looking for value without the upfront cost. However, its highest value is for people who frequently travel with Air Canada and make use of Aeroplan rewards, especially for flights.

Is this card worth it?

The CIBC Costco Mastercard offers one of the highest cashback rates on restaurant purchases in Canada, making it an excellent choice for optimizing rewards in this specific category, especially since it has no annual fees. If you use Costco Gas or shop on Costco Online, there is a decent cashback rate as well. However, for other categories, the cashback rate is average. Notably, you will be better off using other credit cards for warehouse Costco purchases, as you will only earn 1% cashback. If you are looking for no annual fee credit cards only, this is a good card to go for.

Pros

Generous Welcome Bonus: 40,000 Aeroplan points upon meeting the initial spending requirements.
High Reward Rates: Earn up to 1.5 points per $1 spent on gas, groceries, EV charging, and Air Canada purchases.
Air Canada Perks: Free checked bags for you and up to 8 companions when flying Air Canada.
Preferred Pricing on Aeroplan Flights: Get access to better Aeroplan point redemption rates for Air Canada flights.

Pros

Decent reward rate for a no annual fee credit card
One of the highest cashback rates for restaurant purchases in Canada
Has Mobile insurance

Cons

Income Requirements: Requires either a $60,000 personal income or a $100,000 household income to qualify.
Limited Redemption Value: The highest value for points is found when redeeming for Air Canada flights, limiting flexibility if you prefer other types of rewards.

Cons