As alc mentioned, if you're strictly after a no-fee No-ForExFees card, you should go for the Chase Amazon.ca (or Sears) Visa instead. A lot of people, myself included, applied for the Chase Marriott Visa first, to get the 50K $0 FYF and 1-nite e-cert. But, if you can't justify paying the $120 AF on renewal (they will issue you another e-cert for up to Cat 5) then you'll want to cancel, and THEN you will likely find that you miss the No-ForExFees, so you'll eventually end up getting say the Amazon.ca card anyway, and keep it. You get a $20 credit to your Amazon.ca account on signup, plus you earn 1% everywhere (2% at Amazon.ca) and can redeem as cash rebate, not tied to being a Amazon.ca credit (eg, not like accumulating and being stuck with Canadian Tire money).

The Chase Marriott Card is not easy to churn, though some people are reporting getting 50K and $0 FYF.

As for converting the the 50K Marriott Rewards points, to something like Aeroplan...I would never do this, with Marriott, Best Western nor Choice Privs...their value on hotel stays exceeds the value of the points when converted to Aeroplan, at least from my personal experience.