Before heading to school, Kinsey acquired her first credit card, an Alterna Savings Cash Back Visa. Although she also banks with EQ Bank, her primary bank card was with Alterna Savings and Credit Union. “So it was kind of natural and the easiest way for me to get a credit card,” she explains.
Still new to credit cards, Kinsey doesn’t have a credit score—a number between 300 and 900 that shows lenders how creditworthy you are (the higher the score, the better). She’s looking to build one while also earning rewards—be it cash back (to “make the most of my spending”) or travel points (she’s an Aeroplan member).
Kinsey is an avid traveller—she recently visited Greece and Japan, where she has family. “I’ve been down south to Cuba and Florida. I went to Halifax, because I have some friends out there. I’ll travel within Canada, but I’m definitely more interested in visiting places in Europe,” she says.
Photo courtesy of Aya Kinsey
What credit card features does she need?
Like many university students, Kinsey’s ambitious, eager to travel and just wants to find her financial footing. Given her existing ties to Alterna, it’s no surprise she ended up with an Alterna Savings Cash Back Visa—most Canadians stick with the same financial institutions for a good part of their lives. But, Kinsey can find a credit card better suited to her needs by expanding her horizons.
With Alterna, she gets 1 Collabria reward point per $1 spent on groceries, gas, public transit, select recurring bills and digital streaming purchases, and 0.5 points on all other purchases. The value of those points maybe an issue. The value of a Collabria point fluctuates based on what you’re redeeming for: cash back offers the best value, at $0.01 per point, but you must redeem in increments of 3,000 points (for $30), 5,000 points ($50) and 10,000 points (for $100), depending on the Collabria card you have. And when redeeming for travel, merchandise or gift cards, a point can be worth anywhere from $0.002 and $0.008. This means cardholders earn a maximum return of 1% in rewards ($0.01) for every dollar they spend. Often, the return is less than that.
For Kinsdey, it’s clear travelling is a priority. She needs a credit card that can cheapen the costs of flying to visit family and friends. At the same time, she’s just getting familiar with paying for life on her own, tuition being her biggest expense, and her income this year will be modest at best—she hopes to freelance as a content marketer.
So, right now, Kinsey’s primary goals should be building a credit score and increasing her income potential by completing her studies. Later in life, she will likely have access to plenty of premium travel credit cards to match her desired lifestyle—for example, she’ll need a personal annual income of $60,000 for Visa Infinite cards and $80,000 for World Elite Mastercards.
Which credit card should she get?
Credit card pick #1: CIBC Aeroplan Visa Card for Students
For her current situation, the CIBC Aeroplan Visa Card for Students would tick a lot of boxes. It’s a no-fee, no-income-required card. Kinsey’s already an Aeroplan points collector, and the CIBC Aeroplan Visa would add 1 Aeroplan point to her account per $1 spent on Air Canada purchases (such as future flights) and on groceries—she has a campus meal plan but expects it won’t cover all her food expenses. That’s in addition to points already earned as an Aeroplan member, through the “earn points twice” feature of Aeroplan credit cards.
Before heading to school, Kinsey acquired her first credit card, an Alterna Savings Cash Back Visa. Although she also banks with EQ Bank, her primary bank card was with Alterna Savings and Credit Union. “So it was kind of natural and the easiest way for me to get a credit card,” she explains.
Still new to credit cards, Kinsey doesn’t have a credit score—a number between 300 and 900 that shows lenders how creditworthy you are (the higher the score, the better). She’s looking to build one while also earning rewards—be it cash back (“to make the most of my spending”) or travel points (she’s an Aeroplan member).
Kinsey is an avid traveller—she recently visited Greece and Japan, where she has family. “I’ve been down south to Cuba and Florida. I went to Halifax, because I have some friends out there. I’ll travel within Canada, but I’m definitely more interested in visiting places in Europe,” she says.
Photo courtesy of Aya Kinsey
What credit card features does she need?
Like many university students, Kinsey’s ambitious, eager to travel and just wants to find her financial footing. Given her existing ties to Alterna, it’s no surprise she ended up with an Alterna Savings Cash Back Visa—most Canadians stick with the same financial institutions for a good part of their lives. But, Kinsey can find a credit card better suited to her needs by expanding her horizons.
Her Alterna card is associated with Collabria rewards, a loyalty program that works with some Canadian credit unions. She gets 1 Collabria reward point per $1 spent on groceries, gas, public transit, select recurring bills and digital streaming purchases, and 0.5 points on all other purchases. The value of a Collabria point fluctuates based on what you’re redeeming for: cash back offers the best value, at $0.01 per point, but you must redeem in increments of 3,000 points (for $30), 5,000 points ($50) and 10,000 points (for $100), depending on the Collabria card you have. And when redeeming for travel, merchandise or gift cards, a point can be worth anywhere from $0.002 and $0.008. This means cardholders earn a maximum return of 1% in rewards ($0.01) for every dollar they spend. Often, the return is less than that.
For Kinsdey, it’s clear travelling is a priority. She needs a credit card that can cheapen the costs of flying to visit family and friends. At the same time, she’s just getting familiar with paying for life on her own, tuition being her biggest expense, and her income this year will be modest at best—she hopes to freelance as a content marketer.
So, right now, Kinsey’s primary goals should be building a credit score and increasing her income potential by completing her studies. Later in life, she will likely have access to plenty of premium travel credit cards to match her desired lifestyle—for example, she’ll need a personal annual income of $60,000 for Visa Infinite cards and $80,000 for World Elite Mastercards.
Which credit card should she get?
Credit card pick #1: CIBC Aeroplan Visa Card for Students
For her current situation, the CIBC Aeroplan Visa Card for Students would tick a lot of boxes. It’s a no-fee, no-income-required card. Kinsey’s already an Aeroplan points collector, and the CIBC Aeroplan Visa would add 1 Aeroplan point to her account per $1 spent on Air Canada purchases (such as future flights) and on groceries—she has a campus meal plan but expects it won’t cover all her food expenses. That’s in addition to points already earned as an Aeroplan member, through the “earn points twice” feature of Aeroplan credit cards.
Aeroplan has launched a new promotion, offering a bonus for members who redeem points for hotel stays. You can get up to 50,000 points back when you redeem now through September 30th, and you can also stack this deal with the 4th night free benefit if you have the Aeroplan card. Check out the details below.
Offer Details
Aeroplan Members who are registered for the offer are eligible to receive one of the following three promotion tiers per completed hotel stay:
Redeem 40,000 points or more, get 10,000 points back
Redeem 80,000 points or more, get 25,000 points back
Redeem 150,000 points or more, get 50,000 points back
Don’t forget, Aeroplan credit cardholders get a 4th night free when you redeem for three nights using Aeroplan points. Plus, Aeroplan Elite Status Members, can get an extra 2,500 points back.
You must register and book by September 30, 2024, for travel now through February 28, 2025.
Important Terms
Valid on eligible hotel bookings made on or before September 30th, 2024, 11:59 pm PT for hotel stays that take place between September 3rd, 2024, 12:01 am NT and February 28th, 2025, 11:59 pm PT.
Open only to Aeroplan Members in good standing. If you are not an Aeroplan Member, you can enroll today. Membership is free.
Aeroplan Members must register for this offer by September 30th, 2024, 11:59 pm PT. To register, click on the “One-click registration” tab or on the “Register for this offer” tab in the offer e-mail received or you can also register by clicking on the offer banner when it is displayed on aircanada.com and then follow the instructions for registration.
Offer is non-transferable and is not redeemable for cash.
This Offer is combinable with the “Get a 4th Night Free Hotel Offer” but may not be combined with any other offers or promotions. Should other hotel stay points back offers be available to you during the Offer Period, Aeroplan will make commercially reasonable efforts to ensure that you receive the offer that is most beneficial to you.
Guru’s Wrap-up
This can be a good deal, especially if you have the Aeroplan credit card which gets you the 4th night free when you redeem for three nights using Aeroplan points. Depending on how many points you redeem for those three nights, you can get up to 30% on your points back.
As of July 25, 2024, Air Canada’s Aeroplan program has added Eurowings as its latest airline partner. While this may not be an airline that most people have on their must-fly list, it adds yet another option to Aeroplan’s impressive list of partners.
Eurowings is a low-cost German airline headquartered in Düsseldorf, and a wholly owned subsidiary of the Lufthansa Group. Founded in 1996, it serves a network of domestic and European destinations. It has bases at several airports throughout Germany, Austria, and the Czech Republic.
While Lufthansa is a Star Alliance member, Eurowings is not. So this addition presents a new opportunity for Aeroplan members to earn and spend miles on another carrier for flights within Europe.
This is the award chart for the Atlantic Zone, which covers Eurowings:
Aeroplan charges a flat Partner Booking Fee of just $39 CAD per ticket, which you can also cover with points.
With the right loyalty points, you can stay in Orlando for free (resort and parking charges still apply). I always look at Marriott properties first, since I have a Marriott Bonvoy American Express Card. The card has an annual fee of $120, but it gives me an annual free night’s stay at Marriott properties, worth up to 35,000 Marriott Bonvoy points. (One Marriott Bonvoy point is worth $0.0117 on average when redeemed hotel stays.) Additionally, I can transfer any of my American Express MR Points, which I collect with the American Express Cobalt Card, to Marriott Bonvoy at a 1:1 ratio. This ability to transfer makes it incredibly easy to earn and redeem Marriott Bonvoy points.
featured
Marriott Bonvoy American Express
go to site
Annual fee: $120
Welcome offer:earn 50,000 Marriott Bonvoy points
go to site
Card details
Interest rates
21.99% on purchases, 21.99% on cash advances
Income required
None specified
Credit score
725 or higher
Point value
1 Marriott Bonvoy point = $0.0117 on average when redeemed for eligible flights or hotel stays..
One of my favourite places to stay in Orlando is the Walt Disney World Swan Reserve. It’s part of the Disney Swan and Dolphin complex, so regardless of which property you stay at (the Dolphin Resort, Swan Resort or Swan Reserve), you get access to all the amenities, including multiple pools, kids’ activities, swan paddle boats and more. Best of all, these hotels are considered on-site Disney properties, so you get early access to all the Disney World Parks. That extra half-hour to an hour makes a considerable difference since you get to beat the crowds.
Admittedly, the Dolphin, Swan and Reserve hotels are some of the more expensive Marriott properties, but I’ve also stayed at Residence Inn and Courtyard hotels (both part of the Marriott family) for as little as 15,000 Marriott Bonvoy points per night. As a bonus, when you book five consecutive nights at the same hotel using Marriott Bonvoy points, you get one night free.
Besides Marriott Bonvoy, I’ve also used HotelSavers via Aeroplan. With HotelSavers, you save up to 30% in points on bookings with select partner hotels. Plus, Aeroplan credit card holders get their fourth night free when booking three nights on points.
More ways to save in Orlando
If you can subsidize your flights and hotels with points, theme park tickets will be your biggest expense. Fortunately, there are occasional deals.
Universal Orlando Resort has an offers page that lists all the current promotions. For example, at the time of writing, you can get two days free when you purchase a ticket valid for two parks over three days. Alternatively, you can save 20% on four-night stays at a Universal Orlando Hotel. The hotel offer can be lucrative, as Premier Universal Hotels give your entire party a free Universal Express Unlimited pass, allowing you to skip the regular lines at some of the most popular attractions. The passes are worth as much as USD$124.99 per person, per day. You also get early access to the parks.
Disney World has similar offers throughout the year for both park tickets and accommodations. It also typically has Canadian-exclusive deals about once or twice a year, and these can be a great way to save.
For non-theme-park savings, check out the offers page on Visit Orlando. Here you’ll find discounts on dining, shopping, attractions and accommodations.
Aeroplan and charity Miles4Migrants have partnered to offer aeroplan miles when you donate to Miles4Migrants. For every $100 you donate you’ll receive 7,500 miles (up to $1,000 in donations or 75,000 miles).
Our Verdict
This works out to 1.33¢ per point. I don’t think you’d be able to claim a deduction on this (but consult a tax professional) but still could be a good deal if you want to support miles4migrants anyway or think 1.33¢ per miles is a good rate (or a combination of the two).
🔃 Update: This offer is available now through July 31, 2024.
Starting today, June 15 Chase has launched a new transfer bonus for Sapphire Preferred, Sapphire Reserve, Ink Plus, Ink Business Preferred, Chase Corporate Flex, and JPMorgan Reserve customers. Through the end of next month, you can receive a 20% points bonus when transferring Chase Ultimate Rewards points to Aeroplan Air Canada through July 31, 2023.
This exciting new offer gets even better when you stack it with the existing 10% bonus for Chase Aeroplan cardmembers when they transfer 50,000 or more Ultimate Rewards points in a single transaction from an eligible Chase credit card to Aeroplan by December 31, 2023. The bonus is limited to a maximum of 25,000 points per calendar year.
This means Chase Aeroplan cardmembers get a total bonus 30% when converting at least 50K Chase Ultimate Rewards points during this promotion, which would result in 65,000 Aeroplan points. To put it in perspective, an economy flight within North America starts at just 6,000 Aeroplan points.
But Air Canada gives you many more travel options, with access to more than 45 airline partners and 1,300 global destinations. With 65,000 points for example you can go from San Francisco to London, from Chicago to the Canadian Rockies, or NYC to Buenos Aires. You can even explore an extra destination by adding a stopover on international trips for just 5,000 points!
Keep in mind that Points Transfer is a redemption option available to Chase Ultimate Rewards customers paying an annual fee. This benefit allows customers to transfer points at a 1:1 ratio in 1,000-point increments. Eligible cards include Sapphire Preferred, Sapphire Reserve, Ink Plus, Ink Business Preferred, Chase Corporate Flex and JPMorgan Reserve. But you can also pool points that you earn from other Chase credit cards, as long as you have one of these cards.
Update 4/1/24: This has been extended until 12/31/24.
Update 1/13/23: Now live, in addition works for all Aeroplan points not just those earned on this card (although apparently it’s only supposed to be points earned on this card and transferred from Chase UR).
Starting January 13, 2023 Chase Aeroplan cardholders will be able to ‘pay yourself back’ using miles towards travel purchases at a rate of 1.25¢ per point. There is no cap on redemptions for this calendar year but for future years there is a cap of 50,000 points. Chase defines travel as:
Merchants in this category include airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages. Some merchants that provide transportation and travel-related services are not included in this category; for example, real estate agents, educational merchants arranging travel, in-flight goods and services, on-board cruise line goods and services, sightseeing activities, excursions, tourist attractions, RV and boat rentals, merchants within hotels and airports, public campgrounds and merchants that rent vehicles for the purpose of hauling. Purchases from gift card merchants or merchants that sell points or miles will not qualify in the travel category.
This is a roundup of news and other interesting pieces that I’ve come across over the last few days. I thought they are worth sharing so I hope you enjoy reading them.
📰 Hyatt Regency Debuts New Collaboration with Personal Training Platform
Hyatt Hotels announced today an exclusive collaboration between the Hyatt Regency brand and Future, a personal training platform that connects users with an ongoing fitness coach to create customized virtual workouts, further complementing World of Hyatt members and guests’ wellbeing journeys. ➡️ Read more
📰 EVA Air Moving to The New Terminal One at JFK
The New Terminal One at John F. Kennedy International Airport and EVA Air have announced a partnership for the airline to operate out of the world-class terminal. The New Terminal One is currently under construction with its first gates scheduled to open in 2026, in partnership with the Port Authority of New York & New Jersey as part of the agency’s $19 billion transformation of JFK Airport. ➡️ Read more
📰 Air Canada Tweaks Aeroplan Elite Status
Air Canada is rolling out some changes to its Aeroplan frequent flyer program. Thankfully, nothing is overwhelmingly negative — just a few minor tweaks and new partner airline benefits for 25K and 35K members. By extension, this means the cardholder benefits for those with the Aeroplan® Credit Card are improving. ➡️ Read more
New JW Marriott St. Maarten Beach Resort & Spa
The first JW Marriott and Marriott International luxury property in St. Maarten is set to elevate the island’s hospitality landscape by seamlessly merging luxury and wellness within this highly-coveted destination. ➡️ Read more
📰 Both Pilots Fell Asleep In Cockpit Of Flight To Jakarta
Both pilots of a Batik Air Airbus A320 fell asleep in the cockpit on a flight from Kendari to Jakarta, Indonesia. The aircraft was carrying 153 passengers, 4 flight attendants and 2 pilots. While cruising at 36,000 feet, the pilots removed their headsets and increased the cockpit speaker volume. The captain decided to take a short break and rested. After waking up, he offered to switch with the first officer but that pilot declined. The captain went back to sleep on the 1,095 mile flight. ➡️ Read more
📰 Tire flies off United Boeing plane shortly after takeoff
BREAKING: United Airlines Boeing 777 loses tire while taking off from San Francisco, crushing cars on the ground pic.twitter.com/uXpHuFdzul
A tire flew off a United Airlines Boeing plane shortly after takeoff from San Francisco on Thursday, prompting an emergency landing in Los Angeles. Moments after United Airlines Flight 35 ascended into the air, one of the tires on the underside of the Boeing 777-200 detached. ➡️ Read more
Guru’s Wrap-up
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