Those in search of a high-value rewards credit card should consider Canada’s RBC ION Visa Card, which is unique for its extensive list of benefits and features.
This all-encompassing review examines key elements of the RBC ION Visa Card, such as its pros and cons, application requirements, interest rate, and credit limit, as well as how it compares to the RBC Avion Visa Card.
RBC ION Visa Card – Summary
RBC ION Visa
Annual fee: $0
Welcome offer: Get 3,500 bonus Avion points following approval.
Rewards: Earn 1.5x Avion points per $1 spent on groceries, rides, gas, streaming, subscriptions, digital gaming, and EV charging; 1 Avion point for every $1 spent on all other purchases.
Interest rates: 19.99% on purchases and 22.99% on cash advances.
Minimum income requirement: None
- Earn 1.5 Avion points for every dollar you spend on groceries, rideshare, daily public transit, gas, streaming, subscriptions, and digital gaming.
- Earn 1 Avion point for every dollar you spend on all other qualifying purchases.
- Save 3¢/L on fuel purchased at Petro-Canada when you link your credit card to your Petro-Canada Card.
- Redeem your points for air travel, gift cards, merchandise, statement credits, dining, etc. The minimum redemption is only $10.
- Get a 3-month complimentary DashPass subscription, valued at almost $30.
- Includes Purchase Security and Extended Warranty Insurance.
Competitive purchase APR at 19.99%
Attractive point redemption options
No minimum income threshold
Limited insurance benefits
The conversion rate for points is not as enticing
The RBC ION Visa is an excellent choice if you are a student or newcomer looking to get approved for a credit card with little to no credit history. It has no annual fees, and the Avion points you earn are easy to redeem.
Benefits of the RBC ION Visa Card
The RBC ION Visa Card comes with a range of standard benefits that make it an attractive option for cardholders. These benefits typically include:
- Rewards Program: The card offers a robust rewards program that allows cardholders to earn 1.5 Avion points for every $1 spent on eligible purchases and one Avion point on everything else. These points can be redeemed for travel, merchandise, or even statement credits.
- Typical RBC Benefits: Every $1 you spend on qualifying Rexall goods qualifies you for 50 Be Well points. Additionally, Earn 20% more points and save $3/L on petrol when you pay with your RBC Credit Card.
- Contactless Payment Technology: The RBC ION Visa Card is equipped with contactless payment technology, allowing for quick and convenient transactions by simply tapping the card on a payment terminal.
Downsides of the RBC ION Visa Card
While the RBC ION Visa Card offers numerous benefits, it’s important to consider some potential downsides, including:
No Built-In Travel Insurance: Benefits like comprehensive or travel insurance are absent from the RBC ION Visa, although this is usual for entry-level credit cards.
Foreign Currency Conversion: The foreign exchange (FX) fee is higher than some other cards. The RBC ION Visa Card charges a 2.5% FX fee on all foreign transactions. Some other cards charge a lower FX fee or no FX fee at all.
How to Apply for the RBC ION Visa Card
You must fulfill the requirements below in order to be eligible:
- Be a resident of Canada
- Possess the legal age of majority in the province or area where you live
To apply for the RBC ION Visa Card, you can visit the official RBC Royal Bank website. The application process typically involves providing personal and financial information.
Eligibility requirements may vary, so it’s advisable to review the specific criteria outlined by RBC Royal Bank.
How to Redeem Avion Points
Avion Points earned through the RBC ION Visa Card’s rewards program can be redeemed for various options, including travel, merchandise, and statement credits.
RBC offers a user-friendly redemption platform where cardholders can easily browse and select their preferred redemption options. You may also download the Avion Rewards Android or iOS app. Follow the steps below to initiate the redemption process:
- Sign in with your RBC banking credentials
- Acceptance of the Terms and Conditions
- Begin shopping and saving
Take note that the minimum redemption amount is $10.
RBC ION Visa Card Alternatives
If you’re considering alternatives to the RBC ION Visa Card, here are a few notable options worth exploring:
RBC ION+ Visa Card
Has a unique set of features that come with an annual fee of $48. For every $1 spent on gas, groceries, and streaming subscriptions, cardholders will receive 3 Avion points and 1 Avion point on all other qualifying purchases.
RBC ION+ Visa
Annual fee: $48
Welcome offer: Get 7,000 bonus Avion points following approval.
Rewards: Earn 3x Avion points per $1 spent on groceries, rides, gas, streaming, subscriptions, digital gaming, and EV charging; 1 Avion point for every $1 spent on all other purchases.
Interest rates: 19.99% on purchases and 22.99% on cash advances.
Minimum income requirement: None
- Earn 3 Avion points for every dollar you spend on groceries, rideshare, daily public transit, gas, streaming, subscriptions, and digital gaming.
- Earn 1 Avion point for every dollar you spend on all other qualifying purchases.
- Save 3¢/L on fuel purchased at Petro-Canada when you link your credit card to your Petro-Canada Card.
- Redeem your points for air travel, gift cards, merchandise, statement credits, dining, etc. The minimum redemption is only $10.
- Get a 3-month complimentary DashPass subscription, valued at almost $30.
- Offers mobile device insurance and optional travel insurance coverage.
- Includes Purchase Security and Extended Warranty Insurance.
Competitive purchase APR at 19.99%
Attractive point redemption options
No minimum income threshold
Limited insurance benefits
The conversion rate for points is not as enticing
The RBC ION+ Visa is a step up from the RBC ION Visa, with double the points on specific purchases. It is an excellent choice for students or newcomers looking to get approved for their first credit card in Canada.
Tangerine Money-Back Credit Card
This credit card isn’t weighed down by fees and presents a 2% reward on up to 3 handpicked categories, as well as a 0.5% reward on miscellaneous purchases.
Tangerine Money-Back Credit Card
Rewards: Earn 2% unlimited cash back in up to 3 categories of your choice plus 0.50% on all other purchases.
Welcome offer: Get an additional 10% cash back after spending $1,000 in the first 2 months ($100 value).
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Annual fee: $0
Recommended credit score:
Fair to Excellent
On Tangerine’s website
Neo Mastercard
This no-fee credit card enables cardholders to receive a 5% average cashback for every purchase and guarantees a 0.5% cashback should your cashback fall below 0.5%.
Neo Financial Mastercard
Rewards: Earn up to 15% cash back at Neo partners and never fall below 0.5% average cash back.
Welcome offer: Get an extra 15% cash back on your first purchases at many Neo partners.
Interest rates: 19.99% to 26.99% for purchases, 22.99% to 28.99% for cash advances.
Annual fee: $0
Recommended credit score:
Fair to Excellent
On Neo’s website
KOHO Prepaid Mastercard
It resembles a debit account more so than a typical credit card since you must deposit funds into it. But, in contrast to a debit card, you may use your card everywhere Mastercard is accepted, and you get cash back on all your transactions.
KOHO Prepaid Mastercard
Rewards: Earn 1% cash back on all grocery and gas purchases and up to 5% cash back at KOHO partners.
Welcome offer: NA.
Interest rates: N/A
Annual fee: $0*
Recommended credit score:
N/A
On KOHO’s website
RBC Cash Back Mastercard
A cash-back credit card that offers 2% cash back on grocery purchases and !% on all other qualifying purchases.
RBC Cash Back Mastercard
Rewards: Earn up to 2% cash back on groceries, pre-authorized payments, and other purchases.
Welcome offer: None
Interest rates: 19.99% for purchases, 22.99% for cash advances.
Annual fee: $0
Recommended credit score:
Good to Excellent
On RBC’s website
| Credit Card Name | Annual Fee | Cash Advance Interest Rate | Purchase Interest Rate | Rewards |
| RBC ION+ Visa Card | $48 | 22.99% | 20.99% | 3X Avion points on gas, groceries, and subscription purchases. |
| Tangerine Money-Back Credit Card | $0 | 19.99% | 19.99% | 2% cash back on up to 3 categories of your choice, 0.5% cash back on all other purchases |
| Neo Mastercard | $0 | 24.99% | 19.99% | 5% cash back on all purchases |
| Koho Prepaid Mastercard | $0 | 0% | 0% | 1% Cash Back on groceries, internet bills, and delivery services |
| RBC Cash Back Mastercard | $0 | 22.99% | 20.99% | 1% cash back on all purchases |
Is the RBC ION Visa Card Worth It?
Absolutely! The RBC ION Visa Card offers a range of exceptional benefits, including attractive rewards and a competitive fee structure. By aligning with your individual needs, spending habits, and lifestyle, this card can elevate your financial experience.
Don’t miss out on the opportunity to enjoy the advantages it brings, so apply for the RBC ION Visa Card today and unlock a world of rewarding possibilities.
FAQs
What are the uses of RBC Avion Rewards?
The RBC ION Visa belongs to the Avion Rewards program’s premium tier. You may use your awards for the following things:
1. Use the Avion Rewards program to travel
2. Pay your credit card balance with your earned Avion points.
How does the RBC ION Visa Card compare to the Avion Visa Card?
The RBC ION Visa Card and the Avion Visa Card are both popular choices among Canadian credit card users. While the Avion Visa Card is known for its travel rewards and flexibility, the RBC ION Visa Card offers no annual fee for both primary and supplementary cardholders.
What is the interest rate on the RBC ION Visa Card?
The interest rate on the RBC ION Visa Card is 20.99% for purchases and 22.99% for cash advance transactions.
