How to Earn 1,000,000 Aeroplan Points

Summary

In this video, the creator explores the idea of becoming a 'points millionaire' through Canada's Aeroplan loyalty program, particularly as it relates to travel rewards. The video covers various credit card offers, including high-value bonuses, that can help Canadians accumulate Aeroplan points quickly. It emphasizes how, despite the pandemic, there are significant opportunities to earn points now, which could fund future travel. The creator also discusses the potential devaluation of points but reassures viewers that the rewards system is still a worthwhile pursuit. Viewers are encouraged to take advantage of these offers while they last.

Takeaways

• 😀 Aeroplan points are an excellent way for Canadians to fund future travel, especially during the pandemic when travel isn't possible yet.
• 😀 The Aeroplan loyalty program offers generous credit card sign-up bonuses, making it an ideal time to earn points.
• 😀 The Air Canada buddy pass offer allows you to convert it into 30,000 Aeroplan points, a valuable deal for those who want to boost their points quickly.
• 😀 Applying for co-branded Aeroplan credit cards, such as the TD or CIBC Aeroplan Visa Infinite cards, can earn you up to 80,000 Aeroplan points with minimum spending.
• 😀 The American Express Aeroplan Reserve card is offering up to 75,000 points, along with cash back offers that help offset the high annual fee.
• 😀 Referring friends for the American Express Aeroplan Reserve card earns an additional 10,000 points per referral.
• 😀 Using American Express Membership Rewards cards and transferring points to Aeroplan at a 1:1 ratio can significantly boost your points balance.
• 😀 The American Express Business Platinum and Gold cards currently offer high welcome bonuses of 100,000 and 60,000 points, respectively.
• 😀 Earning 1 million Aeroplan points is a realistic goal for Canadian households using multiple credit card offers and maximizing referral bonuses.
• 😀 Though the future devaluation of Aeroplan points is a valid concern, it's unlikely to happen soon, especially since the program was already adjusted in 2020.

Q & A

Why does the speaker suggest becoming a millionaire in points instead of dollars?

The speaker believes that this is a golden age for earning points, especially through Aeroplan in Canada. The idea is that accumulating Aeroplan points could fund future travel, which might be more rewarding than focusing on monetary wealth alone, especially when travel is a big post-pandemic goal.

What makes Aeroplan's current offers unique according to the speaker?

Aeroplan is offering very generous deals, especially with their co-branded credit cards, such as converting a buddy pass into 30,000 Aeroplan points. The speaker highlights how these offers are particularly attractive in a time when many people are eager to travel once it is safe.

How can Canadians accumulate a large number of Aeroplan points according to the script?

Canadians can accumulate a significant number of Aeroplan points by signing up for various credit cards that offer high welcome bonuses, such as the TD Aeroplan Visa Infinite or the American Express Aeroplan Reserve card. Additionally, referrals and converting points from other American Express cards can also boost the total points.

What role does the 'buddy pass' play in accumulating Aeroplan points?

The buddy pass allows Aeroplan members to convert it into 30,000 Aeroplan points. The offer, initially valid until April 30th, 2021, has been extended indefinitely, allowing cardholders to earn these points in addition to other rewards from credit cards.

Which credit card offers the most Aeroplan points in one go?

The flagship American Express Aeroplan Reserve card offers up to 75,000 Aeroplan points in its welcome bonus. It also provides additional points for spending over several months and comes with extra benefits like a $100 statement credit.

What is the advantage of the American Express Membership Rewards program in relation to Aeroplan?

The American Express Membership Rewards program allows cardholders to transfer points at a 1:1 ratio to Aeroplan. This is considered one of the easiest ways to earn large amounts of Aeroplan points, especially with recent high welcome offers on business credit cards.

What is the value of referring a friend to an American Express Aeroplan card?

Referring a friend to an American Express Aeroplan card can earn the referrer a bonus of 10,000 Aeroplan points, which can significantly contribute to accumulating more points, especially if both spouses are involved in the referral process.

How much spending is required to meet the minimum spending thresholds for maximizing Aeroplan points?

To maximize the Aeroplan points from credit card offers, the household would need to meet a total of $56,000 in minimum spending. This is close to the average discretionary spending of a Canadian household.

Is there a risk of Aeroplan points losing value in the future?

Yes, there is always a risk that Aeroplan points could be devalued, particularly if Air Canada changes its loyalty program after the pandemic. However, the speaker believes that any immediate devaluation is unlikely, given that the program was revamped recently, and that offers are still appealing despite the potential risks.

What’s the point of accumulating 1 million Aeroplan points if there’s a risk of devaluation?

The speaker argues that even though there is a potential for devaluation, it still makes sense to accumulate Aeroplan points now because of the valuable offers available. The points could be used for future travel, and it’s better to earn them while the deals are favorable, especially given the need for travel post-pandemic.