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Tuesday, August 30, 2011

American Express Gold Rewards Card: A Hidden Gem for earning Aeroplan Miles

When it comes to earning Aeroplan miles, there is no easier way to earn them than on everyday Credit Card spending. Nowadays Canadians have nearly a dozen Credit Card choices to earn Aeroplan miles with. Whether it be through cards that earn the miles directly or through others that allow you to exchange points for the miles, you would think that they would all be similar in how many miles you can earn with the cards. Unfortunately this is not the case and many of you may be unaware of the cards that you can earn more Aeroplan miles on. One of these cards is the American Express Gold Rewards Card. Technically speaking, the Gold Rewards Card is not a credit but a charge card (where you have to pay your balance in full each month). For most of you this should not be an issue because if you carry a balance you should not be looking at any rewards cards in this category.

Some of the credit cards deposit Aeroplan miles directly into your Aeroplan account while others you have to convert points into miles. The latter is the category the Gold Rewards Card falls into as it earns Membership Rewards points (Amex’s proprietary rewards program) which can then be converted instantaneously to Aeroplan on a 1 to 1 basis.

The mileage that Aeroplan members can earn on their daily spending ranges from ½ mile per dollar, up to 2 miles per dollar depending on how much is spent and where the Credit Card spending took place. This is where the American Express Gold Rewards Card comes out flying. It earns 2 Membership Rewards points per dollar on eligible gas, grocery, drugstore, and travel purchases. As stated above, this transfers over to Aeroplan at 1:1, so essentially it can earn up to 2 Aeroplan miles per dollar. Unlike some other Cards, there is no limit to the number of points that can be earned at the 2 to 1 ratio. With some crafty forethought the Card’s 2 to 1 ratio can be extended to some other types of retailers and hence extending your Aeroplan earning to 2 to 1.

How, you may ask, can you extend the 2 to 1 earning ratio to other retailers? The answer comes in the form of two words: Gift Cards. Many Canadian restaurant chains, retailers and service providers sell their gift cards at Grocery and Drug Stores. You know what I am talking about, those huge display racks filled with hundreds of gift cards. By purchasing gift cards for the merchants you plan to use at grocery or drugstores, you will earn the 2 Membership Rewards points per dollar spent rather then only 1 point per dollar if you used your Card directly at the end merchant.

Finally, since the American Express Gold Rewards Card offers 2 points per dollar spent on travel, the Card is a good fit for the frequent flyer who has Aeroplan as their main program. All of your Air Canada flight purchases will essentially earn 2 Aeroplan miles per dollar after you convert the Membership Rewards points to Air Canada’s frequent flyer program.

To learn more on the hidden gem known as the Gold Rewards Card please visit American Express Gold Rewards Card

1 comment:

  1. If you buy these giftcards at a grocery store that allows you to convert their loyalty points into aeroplan miles (eg. Sobeys) than you make out even better!!!!!