TD Aeroplan Visa Platinum Card review

How the TD Aeroplan Platinum earns points

The card earns 1 Aeroplan point per dollar on gas, groceries, EV charging and Air Canada purchases, and 0.67 points per dollar on everything else, which is roughly 2 points for every $3 spent.

As an example, a household spending $800 a month on gas and groceries and $300 on everything else earns 800 points plus about 200, or roughly 1,000 points a month. Over a year that’s about 12,000 points, and adding $1,500 of Air Canada flights brings the total to about 13,500 Aeroplan points.

The structure rewards households whose budgets lean on the grocery store and the gas station. The more of your spending that falls outside those categories, the closer your overall rate drifts toward 0.67 points per dollar.

The welcome offer

A welcome offer may be available on this card, but the number of points, any spending requirement and the deadline aren’t confirmed here. Check the current offer terms on TD’s website to see what you need to do and by when. If there’s a spending requirement, make sure it fits your normal budget so you don’t overspend just to qualify.

Combined with the first-year fee rebate, any bonus you earn makes year one the easiest to justify. From year two, the earn rates have to carry the $89 fee on their own.

Fees, interest and the fine print

The annual fee is $89, about $7.42 a month, and it’s rebated in the first year. That gives you a year to see how many points your spending produces before you pay anything. In year two, weigh the fee against what you actually earn: the example budget above produces about 13,500 points a year.

Foreign currency purchases carry a 2.5% fee, adding about $25 to every $1,000 spent abroad, which is worth remembering on a card tied to an airline program. Purchases are charged 20.99% interest and cash advances 22.99%, so pay the full statement balance by the due date to avoid purchase interest.

Who it suits, and who should look elsewhere

The card suits people who want to start collecting Aeroplan points at a low cost, especially those whose spending centres on gas and groceries and who fly Air Canada occasionally. The first-year rebate makes it a low-risk way to try Aeroplan.

It’s a weaker fit for frequent flyers, who would get more from a card with higher Air Canada earn rates and travel perks, and for anyone whose spending mostly falls outside the 1x categories, where it earns 0.67 points per dollar.

How it compares

The CIBC Aeroplan Visa Card has no annual fee, earns 1x on gas and EV charging and offers up to 10,000 Aeroplan points. Compare its full list of earn rates with the TD card’s before choosing, keeping in mind that the CIBC card costs nothing to keep after year one.

The TD Aeroplan Visa Infinite costs $139 a year and earns 1.5x on groceries, 50% more than the Platinum’s grocery rate, with a welcome offer of up to 50,000 Aeroplan points. It’s the step up for households with a large grocery bill.

Both alternatives also earn Aeroplan points, so your points go into the same program whichever card you choose.

Before you apply

The recommended credit score is 720 or higher, and TD makes the final decision based on your full credit profile. Confirm the welcome offer, the first-year rebate and the card’s insurance and perks on TD’s website before you apply, since those details shape what the card is worth to you after the first year.