Chase's Aeroplan Card Got a Bigger Bonus and a Bigger Annual Fee

Chase just gave its Air Canada Aeroplan card a major makeover, and the headline is a signup bonus that now reaches 115,000 points. But there's a catch: the annual fee jumped from $95 to $195. So is this still a card worth grabbing? Let's break down what changed, what stayed, and who should care.

What's New in This Refresh

The biggest change is the signup bonus, which now goes up to 115,000 points. You'll earn 75,000 points after spending $4,000 in the first 3 months, and then another 40,000 points if you can hit $20,000 in total spending within the first 12 months.

The annual fee also went up, from $95 to $195. That's a significant jump, but Chase added some new benefits to help offset it, especially for frequent Air Canada flyers.

• New: Up to $100 in Air Canada statement credits ($50 twice a year)
• New: Automatic Aeroplan 25K elite status with no spend required
• New: 15% discount on eligible Air Canada award bookings
• New: Up to 5X total points on Air Canada purchases (3X from card + 2X from Air Canada as a 25K member)

Earning Points and Using Them

The card's earning structure is solid for Air Canada loyalists. You get 3X points on Air Canada purchases, plus an extra 2X from Air Canada when you fly as a 25K member, bringing the total to 5X. Travel purchases earn 3X, and gas, dining, and groceries earn 2X. But through December 31, 2026, dining and grocery purchases actually earn 3X, which is a nice temporary boost.

One of the card's best features is Pay Yourself Back, which lets you redeem points for a statement credit on travel purchases at a rate of 1.25 cents per point. That's available through the end of 2026, but Chase hasn't said what will happen after that. So if you're planning to use this feature, keep an eye on any updates.

• 5X total on Air Canada (3X card + 2X Air Canada)
• 3X on travel
• 2X on gas, dining, and groceries (3X on dining/grocery through 12/31/26)
• 1X on all other purchases
• Pay Yourself Back: 1.25¢ per point on travel through 12/31/26

Perks That Can Offset the $195 Fee

If you fly Air Canada at least a couple of times a year, the new benefits can easily make up for the higher annual fee. The $100 in Air Canada credits alone covers half the fee, and automatic 25K status gets you priority check-in, priority boarding, and 5 eUpgrade Credits annually. Plus, the 15% discount on award bookings can save you a chunk of points on redemptions.

Other perks include a free first checked bag for you and up to eight companions on the same reservation, a Global Entry/TSA PreCheck/NEXUS fee credit up to $120 every four years, and no foreign transaction fees. These are all valuable if you travel internationally or fly Air Canada regularly.

• $100 Air Canada credits ($50 twice a year)
• Automatic Aeroplan 25K status with priority check-in and boarding
• 15% off eligible Air Canada award bookings
• Free first checked bag for you and up to 8 companions
• Global Entry/TSA/NEXUS credit up to $120 every 4 years
• No foreign transaction fees

What You're Giving Up

For existing cardholders, some benefits are going away after December 31, 2026. The monthly bonus of 500 points per $2,000 spent (up to 1,500 points per month) will end, as will the 10% bonus on Ultimate Rewards transfers of 50,000 points or more to Aeroplan (capped at 25,000 bonus points per year). Also, the 3X earning on grocery and dining will drop to 2X after that date.

If you're signing up now, you won't get those benefits at all, so there's no need to worry about losing them. But it's worth noting that the old card had a lower annual fee and some of these perks, so the refresh is a trade-off.

• Monthly bonus: 500 points per $2k spend (up to 1,500/month) ends 12/31/26
• 10% bonus on 50k+ Ultimate Rewards transfers to Aeroplan (max 25k/yr) ends 12/31/26
• 3X on grocery & dining drops to 2X after 12/31/26

Who Should Get This Card?

This card is a no-brainer if you fly Air Canada frequently and can use the credits, status, and award discount. The 115,000-point bonus is also attractive, especially if you can hit the $20,000 spend for the full amount. But if you're not a regular Air Canada flyer, the $195 annual fee might be hard to justify, especially since the Pay Yourself Back rate is only guaranteed through 2026.

Also, keep in mind that the old 85,000-point offer only required $4,000 in spending, while this new offer requires $20,000 for the full 115,000 points. So if you can't meet the higher spend, you're essentially getting 75,000 points for $4,000 spend, which is still decent but not as generous as before.

• Great for frequent Air Canada flyers who can use the credits and status
• Less appealing if you don't fly Air Canada often
• The full 115,000 points requires $20,000 in spending
• Consider the $195 fee carefully if you won't use the Air Canada perks

Bottom Line

• Signup bonus up to 115,000 points, but requires $20,000 total spend for the full amount
• Annual fee increased from $95 to $195
• New benefits: $100 Air Canada credits, automatic 25K status, 15% award discount
• Some benefits for existing cardholders end on 12/31/26
• Pay Yourself Back at 1.25¢ per point is available through 12/31/26
• Best for those who fly Air Canada regularly

Common Questions