New Credit Card Offers Can Save You $1,500+ On Travel

The stats are incredible. 75% of Canadians have received their first dose of the COVID-19 vaccine, while 35% are fully vaccinated. In addition, travel restrictions are starting to lift in many countries including Canada. While these new developments should be enough to get people thinking about travel again, there’s an even better reason: the biggest sign up bonuses ever.

Until August 3, 2021, some of the American Express travel credit cards have welcome bonuses worth up to 150,000 points. To give you some context, those points could easily be worth $1,500 – $3,000. Even with a high annual fee, it’s totally worth it if you can meet all the conditions. Let’s take a closer look at the bonuses offered by some of American Express right now.

American Express Platinum Card – Earn up to 150,000 Membership Rewards Points

• $699 annual fee
• Earn 70,000 Membership Rewards points after spending $6,000 in purchases within the first six months of card membership
• Earn 30,000 points with any purchases between months 14-17 of card membership
• Earn 10 points per $1 spent on eligible eats and drinks purchases in Canada (including grocery stores) for the first six months of Card membership, up to a maximum of 50,000 points  

Of all the offers available, I personally find the American Express Platinum Card to be the most appealing. The Membership Rewards points you earn are highly flexible. You can use them on any type of travel at a base value of 1 cent per point. That means your welcome bonus is worth at least $1,500. If you use the fixed points travel program, you can double the value of your points, so you’d get $3,000. Alternatively, you could transfer your points to Aeroplan or Marriott where you could get even more value depending on what you redeem your points for.

The actual welcome bonus itself is easy to get. You’ll earn 70,000 points when you spend $6,000 in purchases within the first six months of card membership. Another 30,000 points are awarded on any purchase made between months 14-17. This is clearly being offered as an incentive to keep your card. Finally, you’ll earn 10 points per $1 spend on groceries, restaurants, and cafes for the first six months up to 50,000 points ($5,000 of spending)

Many people will be turned off by the $699 annual fee, but you get an annual $200 travel credit and unlimited lounge access for you and a guest. Those two benefits alone make the annual fee much more reasonable. Of course, when you factor in the welcome bonus, this card pays for itself for many years. Read my full review of the American Express Platinum Card for more details.

American Express Aeroplan Reserve Card – Earn up to 150,000 Aeroplan points

• $599 annual fee
• Earn 70,000 Aeroplan points after spending $6,000 in purchases within the first six months of card membership
• Earn 5,000 Aeroplan points for each monthly billing period in which you spend $1,000 in purchases on your card for the first six months of card membership (30,000 points total)
• Earn 10 points per $1 spent on eligible eats and drinks purchases in Canada (including grocery stores) for the first six months of card membership, up to a maximum of 50,000 points  

The American Express Aeroplan Reserve Card’s welcome bonus is very similar to the American Express Platinum Card but it’s a touch more complicated. You get 70,000 Aeroplan points after spending $6,000 in purchases within the first six months of card membership. You can then earn an additional 5,000 Aeroplan points for each monthly billing period in which you spend $1,000 in purchases on your card for the first six months. Finally, you’ll earn 10 Aeroplan points per $1 spent on eligible eats and drinks for the first six months (up to 50,000 points).

Amex Aeroplan Reserve is also currently ranked as one of our top Aeroplan credit cards in Canada.

The easiest way to get the full bonus is to simply charge at least $1,000 in grocery or restaurant purchases to your card each month for the first six months. $1,000 in groceries each month may seem like a lot, but keep in mind that many grocery stores sell gift cards. You could literally load up on gift cards for various merchants to help you meet your spending goals.

Admittedly, having a ton of gift cards isn’t ideal, but for 150,000 points, it’s worth it. I personally value Aeroplan points between 1.5 to 2 cents per point. That means your welcome bonus is worth at least $2,250 – $3,000. I got even more value out of my points recently when booking a trip to Vancouver from Toronto. My overall return was 2.2 cents per point. It’s also worth noting that if you used your points on a business class flight, you could have a value in the 3 – 4.5 cents per point range.

Since this is an Aeroplan co-branded card, most of the benefits are related to Air Canada. The primary cardholder and up to 8 companions travelling on the same itinerary get their first checked bag free. You also get unlimited free access to Maple Leaf Lounges in North America. Read my American Express Aeroplan Reserve Card review now for more details.

Marriott Bonvoy American Express Card – Earn up to 105,000 Marriott Bonvoy points

• $120 annual fee
• Earn 65,000 Marriott Bonvoy points after spending $3,000 in purchases within the first six months of card membership
• Earn 15,000 points with any purchases between months 14-17 of card membership
• Earn 5 points per $1 spent on eligible eats and drinks purchases in Canada (including grocery stores) for the first six months of Card membership, up to a maximum of 25,000 points

I get it, not everyone wants to pay a high annual fee or can drop $6,000 in the first six months of card membership. Don’t worry, as the Marriott Bonvoy American Express Card has some low hanging fruit. If you can spend $3,000 in the first six months, you get 65,000 Marriott Bonvoy points. Another 15,000 points are awarded with any purchases between months 14-17. Plus, you’ll earn 5 points per $1 spent on eligible eats and drinks purchases for the first six months up to 25,000 points. That’s a total of 105,00 points that you can earn as the welcome bonus.

What are 105,000 points worth? That is enough for five nights at a category 4 hotel when you factor in Marriott’s book 4 nights, get the 5th-night free promotion. The actual cash value differs depending on your redemption, but generally speaking, 1 point is worth about .9 cents. That means 105,000 Marriott points should yield you at least $945 in value.

What’s also interesting about this card is that you get a free annual night certificate on your card anniversary that’s good for a free night worth up to 35,000 points. That’s easily worth more than the $120 annual fee, so this card is a winner. Check out my Marriott Bonvoy American Express Card review now to see what else you get with the card.

Travel Deals Are Right In Front Of You

Quite often when people look for travel deals, they focus on flights and hotels. They’ll literally spend dozens of hours to try and get $100 off a flight. Your time is worth much more than that. More importantly, there are always credit card offers available that can save you hundreds on travel. Yes, you’ll need to meet the minimum spend requirement, but it’s worth it if you can do so. You can also read MDJ’s guide for the best travel credit cards.

Another place to look for deals is the local tourism boards. For example, right now Ottawa tourism has a deal where if you book 2 nights at a hotel, you’ll get a $200 Experience Pass. Tourism Vancouver has a similar promo where you can get gift cards and attraction tickets when you book a hotel. Saving on travel is easy if you’re looking in the right places.

Barry Choi is a personal finance and travel expert who makes frequent media appearances. His website moneywehave.com is one of Canada’s most trusted sites when it comes to all things related to money and travel. You can reach him on Twitter: @barrychoi.