Want to travel to all your favourite destinations more frequently? Or perhaps you prefer to travel in business or first class? Whichever your travel style is, having tons of Aeroplan Miles will get you there faster and without breaking the bank!
In this blog post, I lay out a strategy for you on how to build massive amount of Aeroplan Miles within a one year time period.
Step 1: Know how your credit score works
If you’re afraid to apply for multiple credit cards, it might be because you are not sure how your credit score works. Don’t worry, I got you covered! Read this article first to get a full understand of how your credit score works. Here is a summarized breakdown of how your credit score is calculated:
- Payment History 35% – Are you paying your bills on time?
- Credit Utilization 30% – Are you using more than 30% of your available credit? If so, your credit score may decrease as a result.
- Length of Credit History – 15% – Average age of your accounts.
- New Credit 10% – When you apply for a new credit card or other form of loans.
- Type of Credit Used 10% – Are you using a variety of credit?
As you can see from the list above, applying for a new credit only affects 10% of your credit score. And, if you are utilizing payment history, credit utilization, length of credit history, and type of credit used properly, you can actually expect your credit score to go up!
Step 2: Start applying for credit cards
Disclaimer: Some of the links below contain referral links where I will earn referral bonus points should you decide to use them. Some of the referral links below contain extra welcome bonus points not found on the American Express main website. If you decide to use them, it will be a win-win situation for us: extra bonus points for you and referral bonus points for me.
No annual fee for the first year credit cards
American Express Gold (Perkopolis) – 25,000 AMEX points transferable to Aeroplan 1:1. Use the RSVP code: AMEXPERK14. Link to the card is available here. Minimum spend requirements is $500 within the first 90 days of being approved.
American Express Business Gold – 40,000 AMEX points using this special referral link (normally 30,000 points on the main American Express website). Points are transferable to Aeroplan 1:1. Minimum spend requirements is $5000 within the first 90 days of being approved.
TD Aeroplan VISA – 15,000-25,000 Aeroplan miles. Wait until annual promotion where annual fee is usually free for the first year.
CIBC Aeroplan VISA – 15,000 Aeroplan miles. Speak to an in-branch representative to negotiate having the annual fee waived for the first year.
Despite the annual fee, you will earn a massive amounts of signup bonus with these cards below
American Express Platinum – 60,000 AMEX points using this special referral link (normally 50,000 points on the main American Express website). Points are transferable to Aeroplan 1:1. Minimum spend requirements is $3000 within the first 90 days of being approved. The annual fee is $699; however, if you use the $200 travel credit (replenishes every January 1st), then you can reduce the annual fee by $400. This makes your annual fee $299.
American Express Business Platinum – 75,000 AMEX points using this special referral link (normally 40,000 points on the main American Express website). Points are transferable to Aeroplan 1:1. Minimum spend requirements is $5000 within the first 90 days of being approved. The annual fee is $499.
Annual fee and points transferable to Aeroplan
American Express Starwood – 20,000 Starpoints earned after meeting the minimum spend of $1,500 within the first 90 days of being approved. You will earn 25% bonus points transfer to Aeroplan if you transfer at 20,000 Starpoints increment. Aeroplan also offers a semi-annual promotion that gives you extra Aeroplan miles when you do a points transfer from Starwood. $120 annual fee. If it’s your first time getting the card, I highly recommend applying with Great Canadian Rebates so you can get a $30 cash back rebate. However, if it is your second time getting the card, then use this link instead. (Feel free to email me why that is)
American Express Starwood Business – 20,000 Starpoints earned after meeting the minimum spend of $1,500 within the first 90 days of being approved. You will earn 25% bonus points transfer to Aeroplan if you transfer at 20,000 Starpoints increment. Aeroplan also offers a semi-annual promotion that gives you extra Aeroplan miles when you do a points transfer from Starwood. $150 annual fee.
American Express Cobalt – 30,000 Cobalt points (2,500 Cobalt points earned every month after spending $500) which is transferable to Starwood at 2:1 ratio. The annual fee is $10 a month ($120 total for the entire year). Signup with Great Canadian Rebates and get $50 of the annual fee back. After transferring your points to Starwood, you can then transfer your points to Aeroplan.
Strategy: Pool together your Starwood points from the Personal Starwood card, Business Starwood card, and Cobalt card then do one big points transfer during the promotional period that happens once or twice a year. Signup to Aeroplan’s email list to get notified.
You can maximize your points transfer and earn 78,750 Aeroplan Miles ( (20,000 Starpoints + 20,000 Starpoints + 15,000 Starpoints) x 1.25 + 10,000 Starpoints from the promotion = 78,750 Aeroplan Miles)
Total Aeroplan Miles earned if you get all the cards above:
AMEX Gold Perkopolis – 25,000 Aeroplan Miles
AMEX Business Gold – 40,000 Aeroplan Miles
TD Aeroplan VISA – 25,000 Aeroplan Miles
AMEX Platinum – 60,000 Aeroplan Miles
CIBC Aeroplan VISA – 15,000 Aeroplan Miles
AMEX Business Platinum – 75,000 Aeroplan Miles
AMEX Starwood + AMEX Starwood Business + AMEX Cobalt – 78,750 Aeroplan Miles
318,750 Aeroplan Miles
Aeroplan Miles earned from hitting the minimum spend – 22,500 Aeroplan Miles
341,250 Aeroplan Miles
Total annual fee paid if you get all the card – $1,138 (roughly the cost of one round-trip international flight)
Number of round-trip international flights you can do with 341,250 Aeroplan miles:
- 5.7 round trip economy or 3.1 business class flights to Europe 1 for $100-$300
- 4.5 round trip economy or 2.9 business class flights to Europe 2 for $100-$300
- 4.5 round trip economy or 2.2 business class flights to Asia 1 for $100-$300
- 3.8 round trip economy or 2.2 business class flights to Asia 2 for $100-$300
- 5.7 round trip economy or 3.1 business class flights to South America for $100-$300
- 3.4 round trip economy or 2.2 business class flights to South, West, East Africa for $100-$300
- 3.8 round trip economy or 2.1 business class flights to Australia for $100-$300
Because of the decimal points above, this means you’ll have some leftover Aeroplan miles if you want to fly somewhere else!
How to hit minimum spend requirements
The best way to hit the minimum spend requirements is to pay your upcoming expenses ahead of time. Here are some examples:
- Lump sum pay your car insurance for one year
- Buy grocery gift cards
- Lump sum pay your MSP for one year
- Buy prepaid gas gift cards
- Pay your taxes
- Lump sum pay for your gym membership
You can also use pre-paid credit cards to hit your minimum spend requirements. Beware, use at your own risk. My girlfriend tried doing this method and it was a painful process to get her money out of the pre-paid cards. Use at your own risk. This was back in 2015 and what we did was we went to 7-11 and purchased several MyVanilla prepaid Mastercards. We loaded the cards using her American Express Business credit card. So far so good and she was able to hit her minimum spend requirements. However, unloading the money out of the prepaid MyVanilla cards turned out to be a nightmare. It took several long phone calls with MyVanilla reps until my girlfriend finally managed to get her money out of those cards. I would personally not use this route but it’s definitely a viable option. USE AT YOUR OWN RISK!
Here are some services that allow you to pay bills that you normally cannot pay with a credit card:
Unusual ways to hit minimum spend requirements:
- Invest in Kiva loans
- Buying cryptocurrency
Finally, when you are eating out with friends and family, offer to pay for the bill with your credit card and just have everyone give you cash.
And there you have now! You are now equipped with the knowledge to earn 318,750 Aeroplan miles in one year or more!