CIBC Aeroplan® Visa Infinite* Card vs CIBC Costco Mastercard: Which one is better?
CIBC Aeroplan® Visa Infinite* Card
3.3
CIBC Costco Mastercard
2.8
Rewards Breakdown
Annual Rewards
$541.37
Air Canada Aeroplan®
First Year Bonus
$630
Air Canada Aeroplan®
Annual Fee
$139
First Year Value
$1,032.37
$402.37 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$347.33
First Year Bonus
$0
Annual Fee
$0
First Year Value
$347.33
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Mobile Device Insurance
$1,000
Extended Warranty
Up to 1 year
Purchase Protection
90 days
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
yes
Travel Accident
$500,000
Hotel Burglary Insurance
$2,500
Emergency Out of province Medical
15 daysEmergency Medical Over 65
3 days
Trip Cancellation
$1,500
Trip Interruption
$2,000Flight Delay
$500
Insurance Included
Mobile Device Insurance
$1000Extended Warranty
Up to a yearPurchase Protection
Up to 90 days
Extra Benefits
Car Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.
Visa Infinite Exclusive Benefits
Exclusive offers.svg)
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations
Discount
Primary cardholders can often book flight rewards for even fewer points.svg)
Status lift
Reach Aeroplan Elite Status sooner: Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $10,000 in eligible purchases made on your card.svg)
Free first checked bag
Enjoy a free first checked bag for you, authorized users and up to 8 companions every time you fly with Air Canada
Free Extra Night at Hotels
Extra night free for every 3 hotel nights redeemed with Aeroplan points
Extra Benefits
N/A
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%, for Quebec 21.99%
Balance Transfer:
22.99%
Interest Rates
Purchase:
20.75%
Cash Advance:
22.49%
Annual Fee
$139
$0
First Year Waived
Annual Fee
$0
Income Required
Min Personal Income:
$60,000
Min Household Income:
$100,000
Income Required
Min Personal Income:
$15,000
Min Household Income:
N/A
Welcome Bonus
10,000 Aeroplan points when you make your first purchase, 20,000 Aeroplan points when you spend $5,000 or more during the first 4 monthly statements periods, 10,000 Aeroplan points as an additional anniversary bonus when you have at least $10,000 in net purchases posted on your account during the first 12 monthly statement periods
Welcome Bonus
N/A
Rewards Rate
- 1.5 Aeroplan® points per $1 spent on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
- 1 Aeroplan® point per $1 spent on all other purchases
Rewards Rate
- 3% cash back on Restaurants and Costco Gas
- 2% cash back on Costco.ca purchases (Max $160 yearly)
- 2% cash back on Gas (Max $100 yearly)
- 1% on everything else
Loyalty Program
Loyalty Program
N/A
Point Redemption Options
Most Optimal
Aeroplan® Flights
2.1¢ / pointCar Rentals
0.9¢ / point
Travel
0.825¢ / point
Merchandise
0.75¢ / point
Gift Cards
0.72¢ / point
Point Redemption Options
Not Applicable
Is this card worth it?
The CIBC Aeroplan Visa Infinite Card is great for Air Canada travelers who want to rack up Aeroplan points and enjoy perks like free checked bags and preferred pricing on flight redemptions. With solid reward rates in key spending categories like gas, groceries, and Air Canada purchases, this card offers decent returns. Additionally, the first-year annual fee waiver and comprehensive travel insurance make it a solid option for those looking for value without the upfront cost. However, its highest value is for people who frequently travel with Air Canada and make use of Aeroplan rewards, especially for flights.
Is this card worth it?
The CIBC Costco Mastercard offers one of the highest cashback rates on restaurant purchases in Canada, making it an excellent choice for optimizing rewards in this specific category, especially since it has no annual fees. If you use Costco Gas or shop on Costco Online, there is a decent cashback rate as well. However, for other categories, the cashback rate is average. Notably, you will be better off using other credit cards for warehouse Costco purchases, as you will only earn 1% cashback. If you are looking for no annual fee credit cards only, this is a good card to go for.
Pros
- Generous Welcome Bonus: 40,000 Aeroplan points upon meeting the initial spending requirements.
- High Reward Rates: Earn up to 1.5 points per $1 spent on gas, groceries, EV charging, and Air Canada purchases.
- Air Canada Perks: Free checked bags for you and up to 8 companions when flying Air Canada.
- Preferred Pricing on Aeroplan Flights: Get access to better Aeroplan point redemption rates for Air Canada flights.
Pros
- Decent reward rate for a no annual fee credit card
- One of the highest cashback rates for restaurant purchases in Canada
- Has Mobile insurance
Cons
- Income Requirements: Requires either a $60,000 personal income or a $100,000 household income to qualify.
- Limited Redemption Value: The highest value for points is found when redeeming for Air Canada flights, limiting flexibility if you prefer other types of rewards.
Cons
- Doesn't come with a lot of benefits
- Doesn't earn much on Costco Warehouse purchases!
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