Who this card is for
A good fit if you…
- Frequent Air Canada flyers who already buy tickets and Air Canada Vacations packages on a credit card and want 3x Aeroplan on that spend.
- Households that also put Canadian dining and food delivery on the same card at 2x — a stronger dining rate than the non-Reserve Aeroplan Amex — or who stay at participating Hyatt hotels.
- Travellers who prefer American Express and are comparing premium cobrands rather than Membership Rewards Platinum.
- People who can pay the statement in full and meet typical premium-card credit and income expectations.
Skip it if you…
- Occasional flyers. A $599 fee (and $799 once the January 12, 2027 increase applies) with 1.25x on most retail is a poor grocery card with an airline logo.
- Anyone who wants the lower-fee Aeroplan Amex earn mix and does not need Reserve positioning. Start with the standard American Express Aeroplan Card.
- Bank-loyal customers who need Visa Infinite Privilege acceptance and TD or CIBC branch support — compare those cobrands instead.
- Current or former Aeroplan Reserve cardmembers chasing the welcome bonus. Amex may approve you and still withhold the offers. You may also be ineligible if you have already received a welcome bonus or other incentive Aeroplan points on an Aeroplan card of the same category from any issuer.
Pros and cons
Pros
- 3x Aeroplan on eligible Air Canada and Air Canada Vacations spend is the headline cobrand rate in the Amex lineup.
- 2x on eligible dining and food delivery in Canada, and 2x at participating Hyatt hotels and resorts (July 15, 2026 to July 15, 2029, unless extended), is a genuine everyday-and-hotel mix, not just an airline perk.
- 1.25x on everything else is a better baseline than the 1x on the non-Reserve Aeroplan Amex, which matters if this is your premium everyday card.
- Amex values the current welcome bonus at up to $1,700 for new cardmembers who complete both spend windows.
- Points go straight into Aeroplan, which is simpler than transferring Membership Rewards if Air Canada is the only redemption you care about.
Cons
- The annual fee is $599, and American Express has already posted the increase to $799 for annual fees charged on or after January 12, 2027. If you do not fly Air Canada enough to feel 3x, you will resent it every renewal.
- Each Additional Aeroplan Reserve Card is $199 a year. The Additional Aeroplan Reserve No Fee Card is $0. On January 12, 2027 the paid additional card rises to $249, and the no-fee card is renamed the Additional Aeroplan Reserve Companion Card at $25. Supplementary cardmembers must be at least 13.
- You still have American Express acceptance limits at some Canadian merchants.
- Priority Pass comes with the card, but lounge visits are charged at the prevailing rate. Maple Leaf Lounge and Air Canada Café access is the Air Canada benefit; do not budget Priority Pass as free.
- A chunk of the welcome bonus currently requires spend in month 13. Plan for a second year if you want the full advertised amount. Amex values that welcome bonus at up to $1,700.
Fees and value: is the annual fee worth it?
First-year snapshot (estimate)
- Annual fee
- $599
- Estimated welcome bonus value
- up to $1,700
- Bonus minus fee (estimate)
- $1,101
This is a simple comparison of the estimated welcome-bonus value against the annual fee. It ignores rewards on spending, credits you have to remember to use, and interest if you carry a balance. Offers change — verify with the issuer.
The annual fee is $599 per year. As of January 12, 2027, the annual fee will increase to $799 for annual fees charged on or after that date.
Amex values the welcome bonus at up to $1,700 for new cardmembers who complete the first-three-months spend and the month-13 spend. Set that beside the $599 fee you pay now, and beside $799 if the renewal is charged on or after January 12, 2027.
The points are only worth what you redeem them for. Each Additional Aeroplan Reserve Card is $199 ($249 from January 12, 2027).
Each Additional Aeroplan Reserve No Fee Card is $0 until that date, when it becomes the Additional Aeroplan Reserve Companion Card at $25. Supplementary cardmembers must be at least 13.
Year two, with no welcome bonus, has to be justified by 3x Air Canada, 2x dining, 2x Hyatt through July 15, 2029, and the Reserve benefits you will actually use. Offers change.
Verify with the issuer before you apply.
Rewards and earn rates explained
Rewards program: Aeroplan Points
Reserve earns Aeroplan points. Eligible purchases made directly with Air Canada, including Air Canada Vacations packages bought directly from Air Canada, earn 3 points per $1.
Restaurants, quick-service restaurants, coffee shops, and drinking establishments in Canada, plus food delivery in Canada, earn 2 points per $1. That dining rate does not include groceries.
Participating Hyatt hotels and resorts earn 2 points per $1 from July 15, 2026 to July 15, 2029, unless extended. All other eligible purchases earn 1.25 points per $1.
Card benefits include a free first checked bag for you and up to 8 companions on Air Canada flights; Maple Leaf Lounge and Air Canada Café access in Canada and the U.S. for you and a guest; Priority Pass membership with lounge visits charged at the prevailing rate; an Annual Worldwide Companion Pass after $25,000 in net purchases in a card year; up to 25,000 Status Qualifying Credits a year (1,000 SQC per $5,000 in purchases); up to $100 in NEXUS statement credits every 4 years; and World of Hyatt Discoverist status. Insurance includes out-of-province/country emergency medical up to $5,000,000 for the first 15 days of a trip if you are under 65, trip cancellation and interruption, flight and baggage delay, lost or stolen baggage, hotel burglary, car rental theft and damage (MSRP up to $85,000, rentals of 48 days or less), $500,000 travel accident, Buyer’s Assurance for up to one extra year on a manufacturer’s warranty, and Purchase Protection for 90 days up to $1,000 per occurrence.
Per-coverage dollar limits for trip cancellation, interruption, delay, lost baggage, and hotel burglary are not clearly split out for Reserve on the compare page, so confirm those in the Certificate of Insurance. Redemptions follow Aeroplan.
Compare the 3x Air Canada rate with TD and CIBC Infinite Privilege cobrands if you are already in a bank’s premium tier.
Welcome bonus: how to unlock it
Earn up to 85,000 Welcome Bonus Aeroplan Points
The current welcome offer is two-part: Aeroplan points after a first-three-months purchase requirement, then another deposit after a spend hurdle in month 13. Amex values that bonus at up to $1,700.
It is only available to new American Express Aeroplan Reserve cardmembers. Current or former Aeroplan Reserve cardmembers may be approved and are not eligible for the offers.
You may also be ineligible if you have previously received a welcome bonus or other incentive Aeroplan points on an Aeroplan card of the same card category type from any issuer. If you are upgrading from the standard Amex Aeroplan Card, do not assume this Reserve bonus follows you.
The spend hurdles are large enough that they should overlap with travel you were already booking, not a shopping spree.
Welcome bonus eligibility: Only available to new American Express Aeroplan Reserve Cardmembers. Current or former Aeroplan Reserve Cardmembers may be approved but are not eligible for the offers. You may also be ineligible if you have previously received welcome bonus or other incentive Aeroplan points on an Aeroplan card of the same card category type from any issuer (see the Aeroplan program terms).
FAQ
Is the American Express Aeroplan Reserve Card worth it?
It can be, for frequent Air Canada flyers who will also use 2x dining or the Hyatt 2x (through July 15, 2029) and who value a new-cardmember bonus Amex prices at up to $1,700 against the current $599 fee. It is not worth it as a status symbol, and the fee rises to $799 for annual fees charged on or after January 12, 2027. Do the fee-versus-earn test with your last 12 months of Air Canada tickets before you apply.
How does Reserve compare with the regular American Express Aeroplan Card?
The standard Aeroplan Card is 2x Air Canada, 1.5x dining, 1x everything else, at a much lower fee. Reserve is 3x Air Canada, 2x dining, 2x at participating Hyatt hotels through July 15, 2029, and 1.25x everywhere else, at $599 ($799 from January 12, 2027). If the extra earn on your real Air Canada, dining, and Hyatt spend does not exceed the fee gap, stay on the cheaper card.
Does Aeroplan Reserve charge foreign-exchange fees?
Assume yes. American Express Canada’s cardmember agreements add a currency conversion commission on purchases in other currencies, at the rate set out in the card’s information box.
Treat this as a card that charges FX and confirm the current rate before a trip. Pack a no-FX Visa Infinite backup, such as Scotiabank Passport, for heavy foreign spend and merchants that skip Amex.
Aeroplan Reserve vs TD Aeroplan Visa Infinite Privilege?
TD Aeroplan Visa Infinite Privilege is the bank-issued premium cobrand: Visa acceptance, grocery/gas/dining bonus categories, and TD income thresholds. Amex Reserve is the Amex-network version with 3x Air Canada, 2x dining, and 2x Hyatt. Choose the network you will use to buy the ticket and the bank or issuer you already have a relationship with.
Are additional Reserve cards free?
The Additional Aeroplan Reserve Card is $199 a year ($249 as of January 12, 2027). The Additional Aeroplan Reserve No Fee Card is $0 until that date, when it is renamed the Additional Aeroplan Reserve Companion Card and the annual fee becomes $25. Supplementary cardmembers must be at least 13. Ask American Express which supplementary card you are adding before you assume a partner flies free.
Compare related cards and guides
More Canadian credit card lists that match this product, plus a few cards people usually compare it with.
- American Express Aeroplan Card review · American Express · $120 annual fee
- TD Aeroplan Visa Infinite Privilege Credit Card review · TD · $599 annual fee
- The Platinum Card review · American Express · $799 annual fee
