Aeroplan VISA Gold Credit Card

To keep or not to keep?

Last year, I thought that I needed to be a grown up and signed up for the CIBC VISA Aeroplan Gold credit card.  There was a introductory bonus of 15,000 Aeroplan points for new members.  There is 1 Aeroplan point earned for every dollar spent and 1.5 Aeroplan points earned for shopping at certain grocery stores and gas stations.  There was also an annual fee of $120.

My renewal date is the end of February, and I’m on the fence about a renewal.

Last year, I put about $13,000 on my credit card.  I charged everything on this card, from groceries to cell phone bills. I thought that I was being “rewarded” for using my credit card, but now I’m not so sure.   Right now I have about 28,000 Aeroplan points, which is enough for a long haul Canadian or US flight in Economy class (25,000 points).

Assuming I spend the same next year, I’ll have enough for the next “bracket” of flights (41,000), since I don’t get that extra 15,000 points I had this year.   I’m not sure if this is worth it since I still have to pay for taxes for the flight, anyway.

I’ve been debating to switch back to my PC Financial Mastercard.  There is no annual fee, and a 1% rebate on all purchases.   I like to put all my purchases on one credit card for ease.

The only downside of using my Mastercard as my main credit card is that I love using my VISA when I travel, since Mastercard is not accepted everywhere (read: overseas).  This can easily be fixed, of course.  I still have my TD Visa Rebate card that I’ve hidden under my mattress and not used.  I can use the VISA when I travel, and my Mastercard the rest of the time.

I pay off my credit card balances every month, so even though in principle a lower APR is nice (I am currently at the 19% rate), that doesn’t really come into play.

Readers, what do you think?  What credit card do you recommend?

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2 Comments

Filed under Personal

2 responses to “Aeroplan VISA Gold Credit Card

  1. I have a card that gives 1% back & it’s awesome. But I think you make way more in value on flight cards. If you spend 13,000, then it would be $130 in the rebate card and the value of the flight is much much more. It depends on how much you travel.
    I think my next card will be a travel card. I don’t know though.

  2. It’s funny that this is the one that you are thinking of switching from as it’s the one that I’m thinking of switching too! My boyfriend and I just used his Aeroplan points to book two trips for this spring (redeeming 50,000 towards Montreal – Las Vegas saved us $500 total and redeeming 70,000 towards Montreal – Kelowna saved us $1300 total).

    I have the CIBC DIVIDEND card with a 1% cash back and no monthly charges… but by seeing how far his Aeroplan points went for these trips, it trumps my $212 back from last year.

    I’m stilling paying for most things in cash (it keeps me more responsible), but the benefits of the AEROPLAN points seem too good (and financially savvy) to give up. I plan to travel a lot in the next year, so I’m with Daisy – if you plan to travel frequently, your VISA AEROPLAN GOLD seems worth it.

    * Rosie *

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