Amex Overhauls Aeroplan Cards, Boosts Benefits But Jumps Annual Fees to $799

American Express is overhauling its Aeroplan co-branded credit card portfolio in Canada, adding new travel benefits while increasing annual fees on its premium Reserve cards. The changes take effect January 12, 2027, across American Express Aeroplan consumer, small business, and corporate cards.

The biggest changes include expanded airport lounge access, discounts on Air Canada flight rewards, and new travel and dining credits. According to Rey Saeidi, Vice President of Proprietary and Co-Brand Products, Lending, and Rewards at American Express Canada, the update builds on its more than two-decade partnership with Aeroplan.

The American Express Aeroplan Reserve Card will add up to $100 annually in Air Canada travel credits, issued as two $50 credits through the cardholder's AC wallet. Cardholders will also receive a 15% discount when redeeming Aeroplan points for Air Canada flight rewards.

Lounge benefits are expanding to include access to the Worldwide Maple Leaf Lounge network, up to six complimentary Priority Pass lounge passes annually, and eight complimentary passes per year for select Aspire Amex lounges in Canada. The card will also include access to dedicated priority security lanes at select airports worldwide for the cardholder and up to eight companions traveling on the same reservation.

A new $200 annual dining credit will be available at eligible restaurants participating in Air Canada's Best New Restaurants program. Cardholders booking hotels with Aeroplan points will be eligible for a fourth night free on four-night stays at more than 300,000 hotels. A similar fourth-day-free benefit will be available at 11,000 car rental locations worldwide.

For higher spenders, American Express is introducing a 10% Aeroplan points bonus after $125,000 in annual spending, followed by another 10% bonus for each additional $25,000 spent, up to $400,000 annually. However, these additions come with a higher price: the Reserve Card's annual fee will increase from $599 to $799, effective on a cardholder's first annual fee billing date after January 12.

The American Express Aeroplan Business Reserve Card is receiving several of the same benefits, including the Air Canada travel credits, 15% reward discount, expanded lounge access, priority security, and fourth-night and fourth-day-free hotel and car rental benefits. Its annual fee will also rise from $599 to $799 on the first annual fee billing date after January 12.