With Air Canada’s new reward program just around the corner, there have been plenty of rumours on what will happen with Aeroplan. The option to buy Aeroplan points was never one of those rumours. Not only is this a welcome option, but there’s also some crazy bonus offers to entice people in! That said, is now really the time to buy Aeroplan points or any airline reward points for that matter? Let’s take a look.
What’s the Deal?
Although it seems like odd timing, the option to buy Aeroplan points is being celebrated with a crazy good deal. Specifically, from May 7-13th you can receive 115% more miles on your purchase!
There are a few stipulations. The first 10 million miles sold will get the 115% tacked on. Following that, the next 100 million will get a 90% bonus. After that and until the 13th, you will receive 65% more miles. There is a cap at 250,000 miles per transaction and 500,000 miles per calendar year.
Should You Buy Aeroplan Points Now?
With the uncertainty around when borders will open up and when we will be able to fly, is now really a good time to buy Aeroplan points?? In short, yes. And that’s not just because of the bonus points.
Aeroplan has been far more friendly with their cancellation policy than most of its Star Alliance airlines. As such, I am a little more comfortable parking my points for the short term instead of buying a flight. On top of that, you can book up to a year out with Aeroplan so there is time to cash in now and change later.
That said, the bonus is nice. Really nice.
Normally, you will be able to buy Aeroplan points at $0.03 CAD per. If you are looking to top up quickly, this is a good option considering most credit cards offer 1 point per dollar spent before any bonuses. If you think about what that works out to flight wise, it’s just OK.
It takes 25K Aeroplan points to fly return within North America. At $0.03 CAD per that comes to $750. Not bad if you are flying last-minute or to out-of-the-way places however you can certainly find better seat sales on most routes.
With the 115% bonus, that works out to an awesome $0.014 CAD per mile! Suddenly that return trip is now just $350! The value goes up for flights to Europe and Asia, especially if you are booking in business class, but you get the point.
NOTE: Canadian customers do have to pay sales tax on these purchases. American customers do not.
On top of this great deal, Aeroplan has a current promotion in place that allows its customers to earn status miles even though they are not flying. Buying Aeroplan points will count towards that. Altitude status gets you lounge access, upgrades, and free checked bags just to name a few perks.
What’s the Catch?
Aside from the uncertain situation, the world is in, is there a downside to parking your travel dollars in Aeroplan points? Yes, so proceed with caution.
There’s always the risk of reward programs changing and losing value. As such, it’s never a good idea to “hoard” points. The matter of uncertainty around Air Canada’s reward program doesn’t help as with that change, reward chart could be different and your points could lose value.
As Air Canada now owns Aeroplan, there is the chance of the program going under if Air Canada does not recover from the pandemic.
Again, buyer beware.
Although the timing may seem odd, it’s believed that the option to buy Aeroplan points was always planned. I will go with that and belive this won’t become a bait and switch. I also believe Air Canada isn’t going anywhere. As such, I will most certainly be buying miles at the 115% bonus rate, just not that many.
Thanks to my aggressive Aeroplan top up last fall, I am sitting on enough points for an epic trip. Add to that the fact that my RTW trip in May is now pushed back to September and likely to be cancelled, I will soon be sitting on a huge pile.
Time to start planning out 2021 and beyond!
- READ MORE: My Aeroplan Mini-RTW Trip Examples