Redeem on 25+ Star Alliance airlines
As of November 8, 2020, this card will be rebranded as the CIBC Aeroplan Visa Card, along with all-new benefits to coincide with the new Aeroplan loyalty program.
Read more about the new Aeroplan credit cards by TD, CIBC, and American Express.
As CIBC’s entry-level Aeroplan co-branded credit card, the CIBC Aero Platinum Visa Card currently offers 5,000 Aeroplan miles as a signup bonus upon making your first purchase on the card. The card has an annual fee of $39.
5,000 Aeroplan miles is truly one of the lowest signup bonuses in the entire market, and CIBC’s promotional statement of “that’s already enough for a gift card or merchandise” tells you all you need to know.
You’d need to earn an extra 2,500 Aeroplan miles to redeem for the cheapest possible flight on the Aeroplan Reward Chart: 7,500 miles for a one-way short-haul flight within North America in economy class.
In the past, this card has offered higher signup bonuses as well, although currently it’s at a relative low point along with its fellow CIBC products: the mid-range CIBC Aerogold Visa Infinite and the top-tier CIBC Aerogold Visa Infinite Privilege.
As a lower-end Visa Platinum product, this card’s annual fee is relatively affordable at $39. However, the paltry signup bonus of 5,000 Aeroplan miles doesn’t really make this the best offer at the moment, unless you’re only interested in low-fee or First Year Free cards.
In terms of the returns on everyday spending, the CIBC Aero Platinum Visa Card offers cardholders 1 Aeroplan mile for every $1.5 spent on all purchases.
As you can probably tell, this earning rate isn’t very competitive at all, which is to be expected for an entry-level card like this. Indeed, it’s pretty shocking that the earning rate is actually lower than 1 mile per dollar spent, which is widely considered a “baseline” for the minimum points-earning rate that a good credit card should offer.
The CIBC Aero Platinum Visa Card is best-suited for those who are interested in collecting Aeroplan miles while building up a relatively new credit file or restricting themselves to lower annual fees and credit limits. I wouldn’t recommend putting your daily spending on this card, compared to the numerous stronger cards out there (such as the CIBC Aerogold Visa Infinite, to name just one).
As a basic card, the CIBC Aero Platinum Visa Card’s insurance proposition is also quite weak. One of its provisions is auto rental collision/loss damage insurance, which includes coverage for up to 48 consecutive days; this can help you save on the insurance fees that the car rental company would otherwise charge.
However, the card does not offer emergency medical insurance, trip cancellation & trip interruption insurance, or flight & baggage delay insurance, all of which are significant benefits that you’ll find on many of the higher-end products out there.
Additionally, the card also offers Purchase Security and Extended Warranty Protection, covering most eligible items you’ve purchased with your card should they be stolen or damaged within 90 days of purchase, as well as a doubled warranty period compared to the manufacturer’s warranty.
As an entry-level Visa Platinum product, the CIBC Aero Platinum Visa Card has a minimum household income requirement of only $15,000, and you should be able to get approved pretty easily.
Follow the below link (not an affiliate link) to the CIBC website to learn more about this card and submit an application.