If you’re looking for the ultimate travel rewards card, the TD Aeroplan® Visa Infinite Card is the ticket for your dream destination. First introduced back in 2014, the card can earn Aeroplan miles quickly, offers a number of VIP perks and offers a sweet sign-up bonus. And once you leave home, you’re covered with baggage, travel medical and trip interruption insurance. All these features led to the TD Aeroplan® Visa Infinite Card being chosen as RateSupermarket.ca’s 2015’s Best of Finance winner for the Best Travel Loyalty Program Credit Card. Will it take top prize in your books?
- 1.5 Aeroplan Miles for every $1 spent on eligible gas, grocery, drugstore and aircanada.com using the card
- 1 Aeroplan Mile for every $1 spent on all other purchases using the card
*You can double your earnings by using your Aeroplan Membership Points Card in addition to the TD Aeroplan® Visa Infinite Card
Value of one Aeroplan Mile: $0.028
Sign Up Bonus: Excellent
If you apply for the card prior to December 2nd 2016, you can earn up to 30,000 bonus Aeroplan Miles. These points are divided into three tiers: you receive 15,000 miles after making your first purchase on the card. You receive the next 10,000 after keeping your account open and active for 90 days. The final 5,000 come from adding an authorized user to your account prior to that December 2nd deadline (for a $50 fee). In turn, that user must call and activate their card by January 16th 2017 in order for you to receive the miles.
While it might be easy to rack up those first 25,000 miles, not everyone has a relative or spouse that they can add to their account for the final 5,000. But that’s where another perk comes into play: The primary cardholder is eligible to receive a 50% rebate on the $120 annual fee through a link on the TD Canada Trust website.
A great thing about the TD Aeroplan® Visa Infinite Card is that you don’t have to be a new TD customer in order to receive the welcome bonus. While some banks may not give credit card welcome offers to pre-existing customers, new cardholders approved for this card will receive the bonus, provided they don’t already have this particular card or one within the TD Aeroplan Visa suite.
How does this card stack up to other grocery rewards options? We crunched the numbers using our Best of Finance methodology to see how much you could earn over a 24-month period.
Assuming $1,119 is spent on the card monthly, in the following categories:
*Source: Statistics Canada
Maximum earnings when using your TD Aeroplan® Visa Infinite Card:
- Aeroplan Miles earned over a 24-month period: 69,104.88
- Dollar value: $1,934.94
Maximum earnings If using your Aeroplan Membership Points Card in addition to the TD Aeroplan® Visa Infinite Card:
- Aeroplan Miles earned over a 24-month period: 108,209.76
- Dollar value: $3,029.87
Point Redemption: Good
Aeroplan Miles are mainly used for travel, but can also be used for a wide range of merchandise, gift cards, activities and entertainment. You can also transfer miles for a small fee, or give your miles to charity via the Aeroplan member donation program. When it comes to travel, you can use Aeroplan Miles for flights, car rental, hotels, and full vacation packages and cruises.
Flights are by far the best value for your Aeroplan buck. With your point of origin in Canada, a round-trip fixed mileage reward ticket costs you anywhere from 15,000 miles for a short-haul domestic flight in economy class to 230,000 miles for a first-class flight to the Middle East or North Africa. It’s recommended that when redeeming those miles, you choose the longest possible distance you can fly within a particular reward zone, fly to a remote destination or small airport, or fly on high-demand routes. This maximizes the value of the miles.
Taking our Best of Finance methodology into account, you could enjoy an economy class flight to India or a first class flight to northern South America after only two years of using the TD Aeroplan® Visa Infinite Card. There are also options for market fare flight rewards which offer greater availability. However, you may still be on the hook for taxes, landing and departure fees and other charges. Furthermore, you can only redeem miles with Air Canada and any partners with Star Alliance airlines, which means customers could face blackout dates or limited seat selection. So if you plan to use your miles for an upcoming vacation, you’re advised to book well in advance – as much as one year ahead of any high-demand flights.
Keep in mind that with the TD Aeroplan® Visa Infinite Card, your Aeroplan Miles will never expire as long as you remain a cardholder.
Interest Rates and Cash Advance Features: Average
The TD Aeroplan® Visa Infinite Card features your pretty standard 19.99% interest rate, and 22.99% balance transfer and cash advance rates. Those rates rise if you don’t make the minimum payment within 30 days of the payment due date. Cash advance transactions come with a fee ranging from $3.50 to $10.00, depending on the amount of the transaction. Balance transfer fees are 3% of the total amount.
Watch out for a few extra charges, including a dishonoured payment fee of $48.00, charged by your financial institution on the date the payment is returned or dishonoured, due to insufficient credit available in your account. There’s also an overlimit fee of $29.00 when the balance exceeds your credit limit. Therefore, this card isn’t the best option if you’re looking to pay down any debt.
Additional Benefits: Excellent
The TD Aeroplan® Visa Infinite Card carries a number of perks, including:
- Air Canada benefits on Aeroplan Miles-booked flights, including one complimentary first checked bag, priority check in and boarding and one annual one-time guest access benefit to an Air Canada Maple Leaf lounge
- Comprehensive travel insurance, including travel medical, trip cancellation and interruption, delayed and lost baggage, and auto rental collision and loss damage coverage
- 24-hour on-call Visa Infinite complimentary concierge service
- Access to Visa Infinite luxury hotel privileges collection
- Car rental discounts ranging from 5% to 25% through Avis and Budget
- Optional TD auto club membership offering roadside assistance
- Purchase security and extended warranty protection
Our Final Word
There’s a reason that the TD Aeroplan® Visa Infinite Card is our Best of Finance choice for Best Travel Loyalty Program Credit Card. It’s got great earning potential, it’s chock-full of insurance benefits and gives you access to luxury travel services. This card is perfect for a family who enjoys regular vacations and uses their credit card to pay for everyday items. While it’s not a good fit for carrying heavy debt, if your card use outweighs the fee and you pay your bills in full on time, and if you don’t mind some airline restrictions, this card definitely pays off in the long run.
Are you carrying the best credit card for your spending habits? Check out the Credit Card Rewards Calculator and find out!
How to Qualify for the Card:
- You must be a permanent Canadian resident
- You must be the age of majority in your province or territory
- You must have an annual gross personal income of $60,000 or an annual gross household income of $100,000.
Sign up for the TD Aeroplan Visa Infinite card between now and December 2, 2016 and get a FREE $60 e-gift card! Choose from Amazon.ca, the Ultimate Dining Card, Starbucks and Best Buy. Click here to apply!