Rewards Glossary — MapleRewards

Aeroplan: Air Canada's loyalty program — Canada's dominant flight rewards currency, with Star Alliance partner awards (Lufthansa, Swiss, ANA, etc.).
American Express Membership Rewards: American Express's flexible points currency. Transfers 1:1 to Aeroplan, BA Avios, and Flying Blue.
Annual-fee return on investment: The dollar value of credits and benefits a card delivers vs its annual fee. Amex Platinum's $799 fee nets to ~$400 after travel and lifestyle credits.
Card stack: Combining multiple cards so each handles the categories where it earns the most. 'Cobalt for groceries + Aeroplan VI for travel' is a stack.
Category earn cap: The annual or monthly spending limit on which a category multiplier applies. Cobalt's 5× on grocery caps at $2,500/month — spend above that earns 1×.
Cents per point: What one point is actually worth in CAD when you redeem it. 1.5¢ CPP means a 50,000-point flight is worth $750.
Earn multiplier: How many points per dollar a card gives in a specific category. Cobalt earns 5× on groceries — five points per dollar instead of one.
Earn rate: How many points (or what cash-back percentage) you get per dollar spent in a category. "5× groceries" means five points per $1 at grocery stores; higher multipliers mean more rewards.
Elite status tier: A frequent-flyer rank (Aeroplan 25K → Super Elite). Earned via Status Qualifying Credits; unlocks lounge access, free upgrades, and bonus earn.
Fallback earn rate: The earn rate that kicks in once you hit a cap, or for purchases outside the boosted categories. Usually 1×.
Foreign-exchange surcharge: The 2.5% fee most Canadian cards add to USD/foreign purchases. A handful of cards (Scotia Passport, Brim, Home Trust) waive it.
Membership Rewards: American Express's flexible points currency. In Canada it transfers 1:1 to Aeroplan, BA Avios, and Flying Blue — among the most valuable transferable currencies for Canadians.
Net annual value: Your estimated yearly rewards and credits from a card minus its annual fee. A card returning $800 in rewards with a $120 fee has a net value of about $680/yr.
Redemption: Spending points — usually for flights, hotels, or statement credit. Higher-CPP redemptions are flights and hotels; lower-CPP is gift cards and merchandise.
Redemption sweet spot: An award booking that yields way above the typical CPP — e.g. Aeroplan business class to Europe for 75K points (worth $3-4K cash).
Reward leakage: Dollars left on the table when you used a sub-optimal card. If you swiped your 1× card on groceries instead of your 5× card, the gap is leakage.
Scene+: Scotiabank's points program (merged with Cineplex's old SCENE). Best earned via the Scotia Passport / Gold Amex line; redeems against bookings on Scene+ travel and Cineplex.
Status Qualifying Credits: Aeroplan's 2026 elite-status currency — replaced the old SQM/SQS/SQD trio. Earn 2 SQC per CAD on Standard fares, 4 on Flex+. Hit 25K/35K/50K/75K/125K to climb tiers.
Transfer partner: A loyalty program that accepts incoming points from a bank's program. Amex MR's transfer partners include Aeroplan, BA Avios, and Flying Blue.
Transfer partners: Loyalty programs that accept incoming points from a bank's program. Amex MR's transfer partners include Aeroplan, BA Avios, and Flying Blue — transferring often beats redeeming through the card's own travel portal.
Transfer ratio: How many bank-program points convert to one airline/hotel point. Amex MR → Aeroplan is 1:1. Marriott Bonvoy → Aeroplan is 3:1 (with a 5K bonus per 60K transferred).
Welcome bonus (a.k.a. SUB / sign-up bonus): Points awarded for opening a new card and meeting a minimum-spend threshold within a set window (typically 3 months). Often the highest-value reason to open a card.

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