It seems like there’s some great news for some American Express Aeroplan Reserve Card holders: you might be getting your $599 annual fee waived for 2022.

Targeted $599 Annual Fee Waiver

As confirmed with an Amex live chat representative and through phone agents, both by myself and several Prince of Travel members, American Express will be waiving the $599 annual fee for select American Express Aeroplan Reserve cardholders in 2022.

If you are targeted for this annual fee waiver, then the entire annual fee of $599 will be credited back to your account 60–90 days after your annual fee posts upon renewal sometime in 2022. 

Note that if you haven’t been targeted, you’ll receive a response like this:

(For what it’s worth, an Aeroplan Reserve Card account in my household that was opened in January 2021 and had spent around $23,000 in 2021 was indeed targeted for this annual fee waiver, while accounts that were opened in September 2021 and had spent around $13,000 in 2021 were not targeted.)

This is excellent news for cardholders who are lucky enough to be targeted, as it means that they won’t have to pay for another year of the card and can continue to maximize its benefits throughout the rest of 2022 and into 2023.

American Express states that the offer is “by solicitation/invitation only”, and is being offered as cardholders haven’t had the chance to fully maximize the benefits on their card during 2021.

Cardholders who may have picked up the card in late 2020 when it first launched or in 2021 who weren’t able to travel as a result of restrictions can now take advantage in the upcoming year. 

Personally, I think this makes a lot of sense, because many cardholders would’ve otherwise been tempted to cancel the card with the $599 fee coming up.

Amex would like cardholders to travel more this year and discover all the benefits like Maple Leaf Lounge access, priority airport services, etc. Eligible cardholders can then make a more informed decision about whether to keep or renew after their next membership year is up.

You can call or chat with Amex to see if you’ve been targeted for the $599 annual fee waiver upon renewal. If so, you definitely shouldn’t cancel your American Express Aeroplan Reserve Card this year, as there’s only pure upside to keeping it open until next year’s renewal date.

Amex Aeroplan Reserve: A Wide Range of Air Canada Travel Benefits

With the $599 annual fee waived for their upcoming renewal, eligible American Express Aeroplan Reserve cardholders can fully maximize their Air Canada travel benefits during the upcoming year. 

• Priority boarding, priority check-in, and a free first checked bag on all Air Canada flights, for the primary and supplementary cardholders
• Complimentary visits to Air Canada Maple Leaf Lounges within North America for the primary and supplementary cardholders
• Preferred pricing when redeeming Aeroplan points for Air Canada flights
• The ability to earn 1,000 Status Qualifying Miles (SQM) and 1 Status Qualifying Segment (SQS) for every $5,000 you spend on the card
• The ability to rollover up to 200,000 SQMs and 50 eUpgrades per year
• The ability to earn an Annual Worldwide Companion Pass after spending $25,000 on the card per year

In particular, the $599 annual fee waiver means that targeted cardholders can now rely on rolling over up to 50 eUpgrade credits from 2022 into 2023 at no additional cost.

In addition to the Air Canada benefits, the card also offers some travel benefits via American Express, such as priority benefits (valet parking, fast track security, etc.) at Toronto Pearson International Airport.

What About the Other Amex Aeroplan Cards?

Note that this targeted promotion appears to be only for the American Express Aeroplan Reserve Card right now. It doesn’t appear to be offered on the American Express Aeroplan Business Reserve Card, which also has a $599 annual fee, nor the core-level American Express Aeroplan Card, which has a $120 annual fee.

In theory, offering the same targeted annual fee waiver to all Aeroplan co-branded card holders would make the most sense.

However, my guess is that the Aeroplan Reserve Card represents the most significant chunk of cardholders in the overall Amex Aeroplan credit card portfolio, so they’re being treated to this very generous promotion right now.

We may or may not see the offer being extended to the other cards in the near future, and we’ll be sure to update this section if so.

Conclusion

American Express is waiving the $599 annual fee for select American Express Aeroplan Reserve Card holders who renew their cards in 2022. If you’ve been targeted for this promotion, the fee will initially be posted on the account, and then credited back to the account in 60–90 days.

The fee waiver is a goodwill gesture from American Express for cardholders who were unable to travel much the past two years, and therefore were unable to fully use the card’s benefits before having to make a decision on whether to renew their cards for another $599.

For those who may have been considering cancelling the card but have now been targeted for a fee waiver, it’s best to hold off and keep the credit card for another year, as you can enjoy benefits such as Maple Leaf Lounge access and priority airport services at no cost for the year.