Should you redeem Aeroplan points before the 2026 devaluation?

The mistake most points holders make is waiting to see what happens. By the time a loyalty program devaluation is confirmed and fully understood, the best redemption seats are already gone. If you are sitting on a large Aeroplan balance and have heard rumblings about changes coming in 2026, the question is not whether to panic — it is whether your current stash is better spent now than later. That depends on what you are holding, what you want to book, and how much risk you are comfortable leaving on the table.

What an Aeroplan devaluation actually means

Loyalty program devaluations typically work in one of two ways: the number of points required for a given redemption goes up, or the categories of redemptions that offer the best value get restricted. Either way, the purchasing power of your existing balance shrinks without any change to your account balance. You still have the same number of points. They just buy less.

For Aeroplan specifically, the program has historically offered strong value on partner airline redemptions, particularly in business and first class on carriers like Lufthansa, ANA, and Singapore Airlines. These are the redemptions most likely to be targeted in any restructuring, because they represent the highest gap between what Air Canada pays for the seat and what members pay in points. Say you are holding 150,000 points earmarked for a business class redemption to Europe. If the chart moves and that same seat now costs 200,000 points, you have effectively lost a third of your redemption’s value without spending a single point.

How to redeem Aeroplan before devaluation: a redemption value comparison

Not all Aeroplan redemptions carry the same risk. The table below outlines which redemption types tend to offer the strongest value and which are most exposed to a chart restructuring. Use this as a starting framework for your own aeroplan devaluation strategy.

The pattern is consistent across most program devaluations: the highest-value redemptions take the biggest hit. If your points are destined for a merchandise redemption, there is little urgency. If you have been sitting on a premium cabin award, the calculus is different.

Reasons to redeem your Aeroplan points now

There are real, practical reasons to move sooner rather than later, particularly if your balance is large and your travel goals are clear. The best travel credit cards in Canada covers which cards accelerate Aeroplan earning fastest, but the redemption side of the equation matters just as much as the earning side.

• You have a specific premium cabin redemption in mind and the award space exists today.
• Your balance is large enough that a chart increase would cost you a meaningful number of points on your target booking.
• You have flexible travel dates, which makes it easier to find partner award availability before June 2026.
• You have been deferring a trip for years and a devaluation is the push you needed to finally book.
• Your points are concentrated in Aeroplan with no diversification into other programs, increasing your exposure to a single program’s policy changes.

Reasons to hold your Aeroplan points and wait

Redeeming prematurely into a trip you do not actually want is a real cost. Points spent on a suboptimal booking are gone. Before acting on an aeroplan devaluation strategy, consider whether waiting is the smarter play for your situation. If you are still building toward a best rewards credit cards in Canada strategy that includes multiple programs, rushing a single redemption may not serve your broader goals.

• The devaluation has not been officially confirmed, and program changes sometimes do not materialize as rumoured.
• You do not have a clear travel goal, which means any redemption now is likely to be lower value than a well-planned future booking.
• Your balance is small enough that even a chart increase would only cost you a modest number of additional points.
• You are still earning points rapidly and expect to hit a higher balance by late 2025 or early 2026.
• The redemptions you care about (short-haul economy, for example) are historically less affected by chart restructurings.

How to use Aeroplan points before June 2026 if you decide to act

If you have decided the risk is real enough to act on, the process is straightforward but requires some lead time. Start by identifying your target route and cabin class, then search Aeroplan’s partner award space as far out as the booking window allows. Partner awards on carriers like United, Lufthansa, and Singapore Airlines often have the best value per point and are the most likely targets for future chart increases. Once you have a booking in mind, understanding how to choose the right credit card to continue earning points efficiently after your redemption can help you rebuild your balance faster. If award space is not available on your preferred dates, set up availability alerts and check regularly — space opens and closes frequently as airlines manage inventory.