TD Aeroplan vs TD First Class Travel: The Ultimate Showdown

The Canadian credit card landscape has been fundamentally disrupted. TD Bank has launched an unprecedented welcome bonus on their First Class Travel Visa Infinite card that challenges the long-standing dominance of Aeroplan cards among savvy Canadian travelers.

For years, the conventional wisdom has been clear: choose Aeroplan cards for their variable-value points, exceptional redemption opportunities, and access to premium cabin flights at a fraction of their retail cost. However, TD’s latest offer—165,000 TD Rewards points versus the traditional 45,000 Aeroplan points—represents a paradigm shift that demands serious consideration.

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The Traditional Champion: TD Aeroplan Visa Infinite

The TD Aeroplan Visa Infinite has long been the gold standard for Canadian travel rewards enthusiasts, and for good reason.

Current Welcome Bonus (September 2025)

• 10,000 Aeroplan points upon first purchase
• 15,000 Aeroplan points when you spend $7,500 within 180 days
• 20,000 anniversary bonus when you spend $12,000 within 12 months
• Total potential: 45,000 Aeroplan points

Key Benefits

• No annual fee for the first year ($139 thereafter)
• Complimentary first checked bag for cardholder and up to 8 companions
• NEXUS application credit up to $100
• 1.5x Aeroplan points on Air Canada purchases, gas, groceries, and transit
• Points never expire while maintaining cardholder status

Value Proposition

Aeroplan points are tricky to put a value on. I try to always get 2 cents per point or more when redeeming for flights, but experienced users regularly achieve much higher values. We’re talking 3-4 cents per point for business class redemptions, sometimes even more. However, I’d wager the average user redeems them for much closer to 1 cent per point in value as many don’t have the time or skills to redeem their points optimally.

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The Disruptor: TD First Class Travel Visa Infinite

TD’s response to the Aeroplan advantage has been both bold and mathematically compelling: if you can’t beat them on per-point value, overwhelm them with volume.

Current Welcome Bonus (September 2025)

• 20,000 TD Rewards points upon first purchase
• 145,000 TD Rewards points when you spend $7,500 within 180 days
• Up to 10,000 birthday bonus annually (10% of points earned in previous year)
• Total potential: 165,000 TD Rewards points

Key Benefits

• No annual fee for the first year ($139 thereafter)
• $100 annual travel credit through Expedia for TD
• 4 complimentary airport lounge visits annually
• Enhanced earning structure:
  • 8x points on Expedia for TD bookings
  • 6x points on groceries, dining, and public transit
  • 4x points on streaming, recurring bills, and gaming
  • 2x points on all other purchases

Value Proposition

TD Rewards operate on a fixed-value system, typically providing 0.23-0.47 cents per point, with optimal redemptions reaching 0.5 cents per point through Expedia for TD. While this ceiling is lower than Aeroplan’s potential, it offers guaranteed, consistent value.

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Here’s where things get interesting. Let’s run some real numbers:

TD Aeroplan Visa Infinite Math:

• 45,000 points at 1 cents per point (conservative): $450 value
• 45,000 points at 2 cents per point (possible with work): $900 value
• 45,000 points at 4 cents per point (optimistic business class): $1,800 value

TD First Class Travel Visa Infinite Math:

• 165,000 points at 0.5 cents per point: $825 value
• Plus $100 travel credit: $925 total first-year value
• Plus 4 lounge visits (valued at ~$32 USD each): ~$170 additional value
• Total first-year value: ~$1,095

But here’s the kicker – you also have to spend $4,500 less on the card to unlock the TD First Class Travel Visa Infinite’s bonus!

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Strategic Recommendations

Choose TD Aeroplan Visa Infinite If:

You’re a points optimization enthusiast: Your willingness to research sweet-spot redemptions and consistently achieve 3+ cents per point value makes Aeroplan’s variable pricing advantageous.

Air Canada is your primary carrier: The checked bag benefit alone can generate $200+ in annual savings, while priority boarding and other Air Canada perks provide tangible value.

Flexibility is paramount: Aeroplan’s extensive partner network provides access to dozens of airlines, and variable pricing creates opportunities for exceptional deals.

Premium cabin travel is your goal: Business class redemptions to Europe and other long-haul destinations represent Aeroplan’s strongest value proposition.

Choose TD First Class Travel Visa Infinite If:

Guaranteed value appeals to you: Fixed redemption rates eliminate the complexity of award chart optimization and provide predictable returns.

You’re a casual traveler: One or two annual trips benefit more from straightforward redemption processes than complex optimization strategies.

Convenience features matter: Four annual lounge visits, the travel credit, and enhanced earning rates on everyday categories provide immediate, tangible benefits.

Volume trumps optimization: The 165,000-point welcome bonus represents exceptional value even at lower per-point redemptions.

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The Strategic Perspective

TD’s approach represents a fundamental shift in competitive strategy. Rather than attempting to match Aeroplan’s per-point ceiling, they’ve chosen to compete on volume and simplicity. For the majority of cardholders who achieve 2-2.5 cents per Aeroplan point, receiving 3.7 times more TD Rewards points at 0.5 cents each may actually provide superior value.

Additionally, the psychological benefit of simplicity cannot be understated. TD Rewards eliminate the anxiety of devaluations, award chart changes, and availability restrictions that occasionally plague variable-value programs.

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Risk Assessment

TD Rewards Limitations

• Fixed value ceiling prevents extraordinary high-value redemptions
• Inventory limited to Expedia’s offerings (though extensive) or lower-value “Book Any Way” rates
• Absence of transfer partners limits redemption flexibility

Aeroplan Considerations

• Award availability can be restrictive, particularly for popular routes and dates
• Program devaluations, while infrequent, do occur
• Optimal value extraction requires significant knowledge and research

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The Verdict

For September 2025, the TD First Class Travel Visa Infinite presents an unexpectedly compelling value proposition that challenges the traditional Aeroplan dominance. The 165,000-point welcome bonus, combined with the card’s comprehensive benefits package, delivers exceptional value for most Canadian travelers.

However, this recommendation comes with important caveats. Travellers already established within the Aeroplan ecosystem, those with Air Canada status, or individuals comfortable with points optimization should carefully consider whether the convenience and volume of TD Rewards outweigh the potential ceiling of well-executed Aeroplan redemptions.

Advanced Strategy Consideration

For sophisticated points enthusiasts capable of managing multiple applications strategically, acquiring both cards over a staggered timeline could maximize welcome bonus value. However, this approach requires careful planning around spending requirements and application timing.

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Conclusion

TD has successfully created genuine competition in the Canadian premium travel rewards space for the first time in years. The First Class Travel card’s massive welcome bonus and simplified redemption structure may actually provide superior value for the majority of Canadian travellers who typically achieve modest Aeroplan redemption rates.

The best credit card remains the one that aligns with your travel patterns, spending habits, and optimization preferences. However, TD’s bold move has ensured that this decision is no longer as straightforward as it once was.

Consider your travel goals, evaluate your points optimization comfort level, and choose the card that best serves your specific needs. In today’s competitive landscape, both options offer compelling value propositions for different types of travellers.