CIBC Aeroplan Visa Business Card review

How the Aeroplan Visa Business earns points

The card earns 1.5 Aeroplan points per dollar on travel and dining and 1 point per dollar on everything else. The structure favours businesses that spend regularly on trips and client meals, while routine purchases such as supplies and software earn the base rate.

As an example, a business that spends $1,500 a month on travel and dining earns 2,250 points a month, or 27,000 points a year. Another $4,000 a month of other expenses adds 48,000 points, for 75,000 points a year in total.

The welcome offer

A welcome offer may be available to new cardholders, but the current listing doesn’t spell out a points total or any spending requirement. Check CIBC’s website for the current offer and its terms before you apply.

If the offer turns out to have a spending target, plan it around large expenses you already expect, such as equipment or annual software renewals, rather than buying things you don’t need.

The annual fee is also rebated in the first year, so the card costs nothing to hold while you test whether its travel perks suit your business.

Travel perks

The card includes airport lounge access and a free checked bag benefit. For a business whose staff fly regularly, a free checked bag can trim the cost of every trip, so check which flights and travellers the benefit covers.

Lounge access terms vary from card to card, so review CIBC’s details on which lounges are included and whether visits carry a charge before you count on them. Together, the two perks are what separate this card from a basic business card with a similar earn rate.

Fees, interest and the fine print

The annual fee is $180, rebated in the first year. Foreign currency purchases carry a 2.5% fee, so $1,000 of spending with a foreign supplier or on a trip abroad adds about $25.

From year two, weigh the 75,000 points a year in the example above, along with the lounge and checked bag perks, against the $180 fee. If your team flies several times a year, those perks carry much of the value.

Purchases are charged 20.99% interest and cash advances 22.99%. Paying the full statement balance by the due date avoids purchase interest, which matters on a card used for larger business expenses.

Who it suits, and who should look elsewhere

The Aeroplan Visa Business suits small businesses that travel regularly, value lounge access and checked bags, and want to collect Aeroplan points from company spending. Keeping company expenses on a dedicated card also makes bookkeeping simpler while the spending earns toward flights.

If your business rarely travels, most spending will earn 1 point per dollar, and the $180 fee from year two will be harder to justify. A lower-fee or no-fee business card may serve you better.

How it compares

The American Express Aeroplan Business Reserve Card is the premium alternative at $599 a year, earning up to 3x on travel with the same 2.5% foreign transaction fee. It suits businesses with heavy travel spending that can use the higher earn rate, provided their suppliers accept American Express.

The CIBC Aventura Visa Card for Business costs less at $120 a year, earns up to 2x on travel and also charges a 2.5% foreign transaction fee. It’s worth a look if you want a lower fee and don’t need to earn Aeroplan points specifically.

Before you apply

The recommended credit score is 720 or higher, and CIBC makes the final decision using your full credit profile. The welcome offer, fee rebate and perks can change, so confirm the current terms on CIBC’s website before you apply.