Apply for the American Express Aeroplan Reserve Card

What to Do If Your Application is Declined

Receiving a credit card application refusal can undoubtedly be a disheartening experience, particularly for a premium card like the Aeroplan Reserve.

However, it is fundamentally important to understand that it is by no means a permanent roadblock to achieving your financial goals.

If, unfortunately, your application for the American Express® Aeroplan® Reserve Card* is declined, here are the crucial and constructive steps you should meticulously undertake:

Understand the Reason for Denial: American Express, like other lenders in Canada, is legally obligated to inform you of the exact reasons for your application’s denial. This information is vital for identifying weaknesses in your financial profile. Amex will send a letter or email detailing the factors that led to their decision. Common reasons for premium card denials include:

• Low Credit Score: The Aeroplan Reserve Card typically requires an excellent credit score (generally 740+).
• Insufficient Income: Premium cards often have higher minimum income requirements (e.g., $80,000 individual or $150,000 household) or, even if not explicitly stated, require proof of substantial income to support the card’s features and potential credit limit.
• High Debt-to-Income Ratio: Your existing debt obligations may be considered too high relative to your current income, indicating a higher financial risk.
• Limited Credit History: Even if your current credit is good, a very short or thin history might be insufficient for a premium card at this tier.
• Too Many Recent Applications: A high volume of recent credit applications across various lenders within a short temporal span can, at times, make you appear as a higher credit risk.
• Inaccurate Information: Any detected discrepancies, inconsistencies, or outright errors on your application form or within your credit report could inadvertently lead to an unfortunate denial.

Obtain Your Credit Report and Score: If your application is denied, immediately request your free credit report from Equifax and TransUnion in Canada. Carefully review it for any errors or signs of identity theft, as even minor issues can negatively impact your credit score and future lending decisions.

Dispute Errors on Your Credit Report: If you discover errors on your credit report, it’s crucial to dispute them immediately with the credit bureaus. Provide evidence (like bank statements) to support your claim. Correcting these errors can lead to a quick and significant improvement in your credit score, boosting your lending prospects.

How to Request the Card

Applying for the American Express® Aeroplan® Reserve Card* is a generally straightforward process, with American Express offering convenient and secure application methods primarily online.

Online Application (Recommended): This is typically the quickest and most efficient way to apply.

• Visit the official American Express Canada website and navigate to their credit cards section. Specifically locate the American Express® Aeroplan® Reserve Card* product page.
• Click on the “Apply Now” or a similarly labeled button to commence the application process.
• You will then be seamlessly guided through a secure and user-friendly online application form requiring comprehensive personal, financial, and employment details. This includes your full legal name, current residential address, date of birth, Social Insurance Number (SIN), detailed employment information (such as your employer’s name, your specific occupation, and length of employment), and precise, accurate income details. Be prepared to provide an income that aligns with the card’s premium status.
• It is absolutely crucial to meticulously review all the information you have diligently entered for absolute accuracy before formally submitting your application to proactively prevent any potential delays or unforeseen issues during the subsequent review process.

How to Unlock the Card

Once your application for the American Express® Aeroplan® Reserve Card* has been successfully approved and you subsequently receive your new physical card in the mail, it will, as a crucial security measure, arrive in an inactive state.

You will therefore need to actively activate or unlock the card before you can commence using it for purchases.

Activate Online: This is typically the most convenient and efficient method for activation.

• Visit the American Express Canada website and navigate to the card activation page, or log in to your secure online American Express account.
• Look for a clearly labeled and prominent option to activate your new card. This function is usually conveniently displayed within your account overview, often under a “My Cards” or “Account Management” section.
• Follow the intuitive, step-by-step on-screen instructions, which will generally involve accurately inputting your new card number, its specific expiry date, and potentially other personal verification details (such as the 4-digit security code or your SIN) to conclusively confirm your identity.

Disadvantages of the American Express Aeroplan Reserve Card

The American Express® Aeroplan® Reserve Card* offers robust benefits but has significant drawbacks.

The main one is the high annual fee (around $599 CAD), which might not be worthwhile if you don’t frequently fly with Air Canada or maximize the elite status benefits.

American Express acceptance can be limited in some regions, especially internationally, requiring a backup card.

The card also charges 2.5% foreign transaction fees, which can accumulate rapidly.

The general earning rate of 1.25 Aeroplan points per dollar on other purchases might be lower than some other premium cards.

Finally, the high interest rate (APR), typically 20.99% or higher, makes the card expensive if the balance isn’t paid in full each month.

It’s ideal for those who pay their statement on time to maximize rewards without incurring interest costs.

The American Express® Aeroplan® Reserve Card* stands as a truly premium and highly rewarding credit card tailored for Canadian frequent flyers and dedicated Aeroplan members.

Its accelerated Aeroplan points earning, coupled with unparalleled airport benefits (like lounge access and priority services) and a direct path to Air Canada Elite Status, makes it an invaluable asset for those who regularly travel with Air Canada and seek an elevated travel experience.