Monday, September 23, 2019

Great Offer for the TD Aeroplan Platinum Visa Card - Up to 25,000 Miles + First Year Free

We continue our in-depth look at all the new TD card offers that came out earlier this month.  TD really upped the game on most of their cards for this quarter hence the increased coverage. We've already covered the TD Aeroplan Visa Infinite Card and the TD First Class Visa Infinite Card, now the TD Aeroplan Visa Platinum card gets its chance.

FYI - These are all the other TD offers:
  • TD Aeroplan Visa Infinite Privilege -  Limited time offer! Earn up to 60,000 Aeroplan Miles (equivalent to 2 business class short-haul roundtrip flight rewards). Conditions Apply. Offer ends December 1, 2019. Find out more here
  • TD Aeroplan Visa Infinite - Limited time offer! Earn up to 40,000 Aeroplan Miles (equivalent to 2 premium economy short-haul roundtrip flight rewards) and first year no Annual Fee for the Primary Cardholder. Conditions Apply. Offer ends December 1, 2019. Find out more here.
  • TD First Cass Visa Infinite Card - Limited time offer: Earn up to 90,000 TD Points (a travel value of $450). Plus, first year no Annual Fee1 for the Primary Cardholder. Conditions Apply. Offer ends December 1, 2019. Find out more here.
  • TD Platinum Travel Visa - Limited Time Offer: Earn up to 70,000 TD Rewards Points (a travel value of $350). Plus, first year no Annual Fee for the Primary Cardholder. Conditions Apply. Offer ends December 1, 2019.  Find out more here.
  • TD Rewards Visa - Earn up to 10,000 TD Rewards Points+. Conditions apply. Offer ends December 1, 2019. Find out more here
The main reason you'll want to look at this card instead of the TD Aeroplan Visa Infinite Card is if you can't meet the income requirements for the Infinite card. Those requirements are $60,000 in annual personal income or $100,000 household. If you fall below those levels then this is the Aeroplan card for you. It technically has no set income requirement but to get the card you will have to have a good credit rating. Why would you want to get this card to begin with? The up to 25,000 miles can provide some really good value. Considering the first 20,000 miles cost you nothing outside of your actual credit card spend thanks to the first year annual fee being waived and the last 5,000 miles would come to you at $35 (the fee for the additional card) it's like you are getting the miles for about 1/10 of a cent each. When you redeem those miles for flights via Aeroplan the value per mile typically starts around 1.15 cents and goes up from there so you can see where the value comes from.

Now before you jump on the offer you should be aware that the requirements to reach 25,000 miles. When you receive the card you will be awarded with 10,000 Aeroplan miles on the first purchase made. Then you will receive double Aeroplan miles on eligible purchases in the first three months, up to 10,000 miles, for a total of 20,000 miles.  This is all with the first year annual fee of $89 waived on the primary card. You can also earn an additional 5,000 miles when you add an authorized user to your account (an additional card, formerly known as supplementary card). The latter however is still subject to the $35 annual fee. Of course if you have a TD All Inclusive Banking plan you don't ever pay fees on the primary or first additional card. Even if you don't get the additional card (you're single or don't want to pay the $35) the 20,000 Aeroplan miles you can earn at no cost other than your credit card spend is higher than any other bonus we have seen on the card before.

Now, what you need to consider is how you go about getting the most miles possible because to earn 20,000 miles you need to max out your spend on the card in the first three months to take advantage of double Aeroplan miles. If we take the 10,000 mile maximum earn for double miles it will take $5,000 to $7,500 in card spend to get all the miles possible. That means you need to budget just over $1,666 to $2,500 in spending per month.  The range in spend is due to the earn rates on the card, the card earns 1 Aeroplan miles per eligible dollar spent on grocery, gas, drugstore and purchases which translates to 2 miles per dollar during the double mile earning period. All other purchase earn 1 Aeroplan mile per $1.50 spent which doubles to 2 per $1.50 during those first three months. If you have been planning some home renos, booking a vacation, buying a car, etc. this would be the time to do it and put that spend on this card to get you the most miles.

That aside - once you do have this card and have earned the 20,000 to 25,000 Aeroplan miles at no expense for the former and only $35 for the latter you have a lot of travel reward value at your disposal. Looking at the Aeroplan Classic Flight reward chart there are a fe round trip options that run from 15,000 to 25,000 miles and even more one way options since they are exactly half of the rates listed on the chart:

Here are some of the possible redemption options for the 25,000 mile level:
  • 1 Round Trip Economy Class Short Haul ticket (with 10,000 miles left over)
  • 1 Round Trip Economy Class Long Haul ticket in Canada and the U.S.
  • 1 One Way Economy Class Ticket to Hawaii or the Caribbean/Central America (with 5,000 miles left over)
The value you get out of the sign up bonus will really vary based on what you redeem your miles on.  Let's look at some examples:
Calgary to Toronto - Round Trip in Economy Class

The above example uses up the 25,000 miles you have earned to save you $369.60 on the flight. ($532.51 - $162.91) but you also have to take into account the $35 annual fee on the additional card so your value from signing up for this card is $334.60.That's a good sign up for a mid-level rewards card! However you can do even better!

How about flying in style? Business Class one way from Vancouver to Toronto on an internationally configured Boeing 777? Sure you'll have to buy your flight back (or redeem miles) for economy class most likely but whatever! At least one way is fun!

This example gets you the flight in business class (one way) for the 25,000 and $72.58 in taxes. To buy the same flight costs $1,648.63. So let's do the math, $1,648.63 less $72.58 in taxes and $35 for you additional card sees you scoring $1541.05 just from the sign up bonus that comes with TD Aeroplan Platinum Visa card!

There are lots of other redemption options out there but just these two show how you can get 1.33 to 6.16 cents per mile in value from the welcome bonus. Not many first year free mid-level cards on the market can give you the same value as this card.

If you are wondering if this offer is right for you, you do have some time to consider it as it is open for new applications until December 1st. Find out more and apply for the card here.

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