How to get 1.625 cents per point with your Chase points with the Aeroplan® Credit Card (ends 01/15/2024)
Chase recently released a transfer bonus yesterday, offering 20% additional points when transferring Chase Ultimate Rewards points to Air Canada's loyalty program (Aeroplan). Air Canada's press release announced a unique stackable benefit for individuals with the Aeroplan Credit Card that should enable cardholders to redeem their Chase points at 1.625 cents per point.
What does the Aeroplan Credit Card have to offer?
Pay Yourself Back
The Aeroplan card has a feature called Pay Yourself Back where cardholders can redeem Air Canada points for a statement credit to cover travel purchases made directly with the card. Each point is worth 1.25 cents which means you can get a $1,250 statement credit for 100,000 points redeemed.
This presents an opportunity to liquidate your existing Air Canada miles or Chase points at a flat, solid rate.
10% bonus on Ultimate Rewards® points transfers
Additionally, the Aeroplan card is offering a unique benefit where cardholders who transfer more than 50,000 Chase points in one transaction to Air Canada receive a 10% bonus, That means that transferring 50,000 Chase points to Air Canada Aeroplan will result in 55,000 Air Canada miles. This makes for sweet value, encouraging users with many Chase points to get the card.
How does this all come together to make 1.625 cents per Chase point?
This is where the magic of stacking benefits comes in.
With Chase's current 20% transfer bonus to Aeroplan, users with the Aeroplan card that are transferring more than 50,000 Chase Ultimate Rewards points to Aeroplan should receive:
- 50,000 points from the standard 1:1 transfer
- 10,000 points from the 20% transfer bonus
- 5,000 points from the 10% transfer bonus
Totaling 65,000 Aeroplan miles from just 50,000 Chase points, effectively a 30% transfer bonus. If cardholders chose to liquidate their Aeroplan miles using Pay Yourself Back, they'd get $812.50 from just 50,000 Chase points (or 1.625 cents per point—incredible value).
While Chase Ultimate Rewards points can be worth more than 1.625 cents each, if you're sitting on a lot of them, it might make sense to take advantage of this incredible opportunity.
Final thoughts
The Aeroplan card offers tremendous value when synergizing with Chase's current transfer promotion. Take advantage of it while you still can, especially if you're sitting on a significant number of points without a use case.
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