In this investigation, I break down the American Express Aeroplan Business Reserve Card and the part the ads conveniently whisper: the spending requirements. Yeah, it dangles “90,000 points” and “unlimited lounge access” at $599/year like it’s the premium business card for every Air Canada flyer. But the welcome offer is really 65,000 points after $10,500 in 3 months, plus another 25,000 at month 13—meaning about $14,000 in total spend to unlock the full thing. That’s not “most business owners,” that’s a very specific type of spender. I run the math on the earn rates (1.25x on everything, 3x Air Canada, 2x hotels/car rentals) and stack the perks: Maple Leaf Lounge access, priority services, free first checked bag for you and up to eight companions, companion pass after $25,000 annual spend, and a $100 Nexus credit every four years. Then I hit the real problem: Amex acceptance. If a chunk of your vendors don’t take Amex, you’re reaching for a Visa backup and that shiny 1.25x rate starts collapsing. Bottom line: if you’re spending around $10K/month, flying Air Canada 12+ times a year, and your vendors actually accept Amex, you can see roughly $2,300 in first-year value after the fee. If you’re at $5K/month, flying six times a year, or fighting acceptance issues, you’re breaking even or donating $600 for status-symbol vibes. This card isn’t a scam—it’s just built for maybe 15% of business owners, and the marketing pretends it’s universal.