Amex Just Launched Its Biggest Offers of 2026
American Express Canada has launched two of the largest welcome bonus offers we have seen all year, both expiring July 28, 2026. If you have been considering either the Aeroplan Reserve Card or the Platinum Card, now is the time to pay attention. But before you get too excited, let us walk through what it actually takes to earn these bonuses and whether they are realistic for most Vancouver travelers.
The Amex Aeroplan Reserve Card: Up to 150,000 Aeroplan Points
Amex Aeroplan Reserve Card: Annual fee: $599 CAD
This is one of the highest annual fees on any personal credit card in Canada. That number needs to be front and centre before anything else.
The Welcome Bonus Structure: If you apply before July 28, 2026, you can earn up to 150,000 Aeroplan points broken into three tiers. Earn 70,000 points after you spend $7,500 on your card in the first 3 months. Earn an additional 40,000 points after you spend a total of $45,000 on your card in the first 12 months. Earn a further 40,000 points when you make one purchase on your card between 15 and 17 months after account opening. Style Factory Productions
The Honest Assessment: Is 150,000 Points Realistic?
Let us be direct about each tier.
Tier 1: 70,000 points for $7,500 in 3 months
$7,500 in three months is $2,500 per month. For some Vancouver households this is completely achievable if you put all regular spending on the card including groceries, gas, bills, subscriptions, and dining. For others it requires some deliberate effort like prepaying insurance, putting a large planned purchase on the card, or using Chexy to pay rent with your card. Realistic for many but not everyone.
Tier 2: 40,000 points for $45,000 total spend in 12 months
This is where the offer gets significantly harder. $45,000 in 12 months means $3,750 per month of spending on this card. That is a high bar for most Canadians. Unless this is your primary card for all business expenses, a rental property, or you are running significant personal spending through it, hitting $45,000 in year one requires genuine effort and planning. Be realistic about your own spending before counting on this tier.
Tier 3: 40,000 points for making one purchase between months 15 and 17
This one is trivially easy. Buy a coffee on the card in month 15 and you earn 40,000 points. The catch is you need to still have the card open at 15 months, meaning you will have paid the $599 annual fee twice. Factor that into your total cost calculation.
The real question: what does the full bonus actually cost you?
If you earn all 150,000 points you will have paid two years of annual fees totalling $1,198 CAD. At 2 cents per point value the 150,000 points are worth approximately $3,000 in Aeroplan redemptions. Net value after fees: roughly $1,800 over 17 months. That is genuinely strong value if you earn the full bonus and redeem smartly.
If you only hit Tiers 1 and 3 and miss Tier 2, you earn 110,000 points worth approximately $2,200, minus $1,198 in fees, for a net value of around $1,000. Still positive but much less exciting than the headline number suggests.
The Air Canada Co-Brand Perks: Where This Card Earns Its Keep
Beyond the welcome bonus the Aeroplan Reserve is a co-branded Air Canada card and the perks reflect that. For frequent Air Canada flyers departing from YVR these are genuinely valuable.
Earn rates: 3x points on purchases made directly with Air Canada and Air Canada Vacations. 2x on dining and food delivery purchases in Canada. 1.25x on everything else.
Maple Leaf Lounge access: Unlimited access to Maple Leaf Lounges in North America for you and one guest when travelling on Air Canada. For YVR travellers this means access to the Maple Leaf Lounge in the international terminal before every Air Canada departure. On a busy travel day this is worth arriving early for.
Checked baggage: First checked bag free for up to 9 people travelling on the same reservation. If you regularly travel with a partner or family, this saves minimum $30 per person per direction. A family of four flying Air Canada return saves $240 in bag fees on a single trip.
Priority services: Priority check-in, priority boarding, and priority baggage handling on all Air Canada flights. These are genuine time savers particularly at busy airports.
NEXUS rebate: Aeroplan Reserve cardmembers receive up to $100 CAD in statement credits every four years for NEXUS application or renewal fees. Given that NEXUS costs $120 USD, this covers the majority of the fee.
Aeroplan Preferred Pricing: Reserve cardmembers get access to preferred pricing on Aeroplan flight redemptions, which can reduce the points cost on select Air Canada bookings. This is a meaningful ongoing benefit for frequent Aeroplan redeemers.
eUpgrade Credits: Roll over any unallocated unused eUpgrade Credits to the following year. eUpgrade credits let you bid on upgrade availability from economy to business class on Air Canada flights.
Who Should Get the Aeroplan Reserve Card?
Be honest with yourself before applying. This card makes sense if you fly Air Canada at least four to six times per year , can realistically spend $7,500 in the first three months, and will actively use the lounge access and priority services. The $599 fee needs to be justified by the perks you actually use, not the ones that sound impressive.
If you fly Air Canada once or twice a year and primarily want the welcome bonus, the fee is hard to justify long term. Consider the TD Aeroplan Visa Infinite at $139 per year as a better fit for occasional Air Canada travellers.
The Amex Platinum Card: Up to 170,000 Membership Rewards Points
Amex Platinum Card Annual Fee: $799 CAD
The highest annual fee on any personal credit card in Canada. This is not a card you get casually.
The Welcome Bonus Structure:
New Platinum cardmembers can earn up to 170,000 Membership Rewards points. Earn 90,000 points after you spend $10,000 on your card in your first 3 months. Earn an additional 40,000 points after you spend a total of $45,000 on your card in your first 12 months. Plus earn 40,000 points when you make a purchase between months 15 and 17 of cardmembership. This offer ends July 28, 2026. Squarespace Help Center
At up to 170,000 Membership Rewards points this is the best Platinum Card offer of 2026 so far and only slightly below the 180,000 point peak from June 2025. Compared to the previous 100,000 point offer this is a major improvement. Squarespace Help Center
The Honest Assessment: Is 170,000 Points Realistic?
Tier 1: 90,000 points for $10,000 in 3 months
$10,000 in three months is $3,333 per month. This is a higher bar than the Reserve card's first tier. Achievable for high spenders or anyone with a large planned purchase, a business expense, or using Chexy for rent. For the average Canadian this requires deliberate effort. Do not apply assuming you will hit this without a clear plan for where the $10,000 comes from.
Tier 2: 40,000 points for $45,000 total in 12 months
Same as the Reserve card. $3,750 per month for the full year. High bar. Realistic only for high spenders or those using this as a primary business card.
Tier 3: 40,000 points for one purchase in months 15 to 17
Again trivially easy. Same caveat as before: you will have paid the $799 fee twice by the time you collect this tier. Total fee cost over 17 months is $1,598.
The real math on the full bonus:
170,000 Membership Rewards points transfer to Aeroplan at 1:1, giving you 170,000 Aeroplan points worth approximately $3,400 at 2 cents per point. Minus $1,598 in fees over 17 months, net value is approximately $1,800. Similar to the Reserve card in net terms but with a higher fee and higher spend requirements throughout.
If you only hit Tier 1 and Tier 3, you earn 130,000 points worth approximately $2,600, minus $1,598 in fees, for a net value around $1,000.
The Platinum Card Perks: What You Are Actually Paying $799 For
The Platinum Card is not primarily a points card. It is a premium travel experience card that happens to also earn points. The value proposition rests heavily on benefits you actually use.
Lounge access and the important upcoming change:
The Platinum Card has historically offered the best lounge access of any Canadian credit card. However there is a significant change coming that all potential applicants need to know about.
Starting January 1, 2027 unlimited access to Plaza Premium and Priority Pass lounges will end unless cardmembers meet a new $20,000 annual spend requirement. Below this threshold cardmembers are entitled to 6 Plaza Premium visits and 6 Priority Pass visits per calendar year.
This is a meaningful devaluation. If you spend less than $20,000 per year on the card after the first year, your lounge access drops from unlimited to 6 visits per program per year. For frequent travellers this may still be sufficient. For occasional travellers it significantly changes the value proposition.
Access to Centurion Lounges, Escape Lounges, and Executive Lounges by Swissport remains unchanged.
Hotel credits: $600 per year in hotel credits split into two $300 semi-annual credits usable at Fine Hotels and Resorts or The Hotel Collection. If you use these credits fully they offset $600 of the $799 annual fee, effectively making the card cost $199 per year before counting the welcome bonus. This is the most important benefit to use if you hold this card.
Travel insurance: Comprehensive travel insurance including emergency medical, trip cancellation, trip interruption, and flight delay coverage. For Vancouver travellers who travel internationally multiple times per year this can replace standalone travel insurance policies worth $200 to $400 per year.
Earn rates: 3x points on dining, 2x on travel, 1x on everything else. The Platinum Card is not a strong everyday earner. The Amex Cobalt at 5x on groceries outearns it significantly for everyday spending. The Platinum Card earns best on dining and travel purchases.
Who Should Get the Platinum Card?
This card makes sense for travellers who will genuinely use the hotel credits every six months, travel frequently enough to value premium lounge access before the 2027 change, and can realistically spend $10,000 in the first three months. The welcome bonus at 170,000 points is one of the strongest offers available in Canada right now, but the $799 fee means you need the benefits to justify renewal beyond year one.
If you are purely chasing the welcome bonus and plan to cancel after year one, be aware you will lose the lounge access and hotel credits mid-stream, and the net value after one year's fee is approximately $1,000 to $1,800 depending on how many tiers you hit. Worth it for the right person. Not worth it for someone who will not actively use the card's benefits.
The Bottom Line on Both Cards
Both of these are genuinely strong welcome bonus offers by any Canadian standard and both expire July 28, 2026. If you are going to apply, do it soon.
The headline numbers, 150,000 and 170,000 points, require spending $45,000 in your first year to fully unlock. That is a significant commitment that most Canadians will not hit without deliberate planning. The realistic bonus for most applicants is 110,000 to 130,000 points across the first and third tiers, which is still excellent value relative to the fees paid.
The Aeroplan Reserve is the better card for frequent Air Canada flyers who want co-branded benefits, Maple Leaf Lounge access, and Aeroplan-specific perks. The Platinum Card is the better card for premium travellers who want broad lounge access, hotel credits, and a more flexible points currency in Membership Rewards.
Neither card is right for someone who does not travel frequently, cannot hit the spending minimums, or is not comfortable paying a premium annual fee every year.
