RBC ION+ Visa vs SimplyCash™ Preferred Card from American Express: Which one is better?
RBC ION+ Visa
3.6
SimplyCash™ Preferred Card from American Express
4.6
Welcome Bonus*
Get 14,000 Avion welcome points upon approval^ - that’s $100 of value in gift cards†! Apply by November 4, 2025.
Welcome Bonus*
Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.
Rewards Breakdown
Annual Rewards
$425.98
RBC ION Avion
First Year Bonus Value
+
$140
RBC ION Avion
Annual Fee
-
$48
First Year Value
$517.98
$377.98 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$534.23
First Year Bonus Value
+
$200
Annual Fee
-
$119.88
First Year Value
$614.35
$414.35 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
How to Earn Rewards*
- Earn 3X Avion points for every $1 spent on groceries, dining, gas, food delivery, rideshare, streaming services and more2
- Earn 1X Avion point for every $1 spent on all other qualifying purchases2
How to Earn Rewards*
- 4% cash back on eligible gas station purchases in Canada
- 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back annually)
- 2% cash back on all other eligible purchases
Insurance Included*
Mobile Device Insurance
$1,000
Extended Warranty
Up to a year
Purchase Protection
90 days
Insurance Included*
Mobile Device Insurance
$1,000Extended Warranty
1 yearPurchase Protection
90 days
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
$85K up to 48 days
Travel Accident
$100,000
Hotel Burglary Insurance
$500
Emergency Out of province Medical
$5M/insured PersonFlight Delay
$500
Extra Benefits*
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Gas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada
Extra points
50 Be Well points for every $1 spent on eligible products at Rexall
Extra Benefits*
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates*
Purchase:
21.99%2
Cash Advance:
21.99%2
Annual Fee*
$48
Annual Fee*
$119.88
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Loyalty Program*
Loyalty Program*
N/A
Point Redemption Options*
Most Optimal
Transfer to WestJet
1¢ / point
Financial Products
0.83¢ / point
Gift Cards
0.72¢ / point
Merchandise
0.7¢ / point
Travel
0.6¢ / point
Statement Credits (Cash)
0.58¢ / point
Point Redemption Options*
Not Applicable
Is this card worth it?
This card is not by any means one of our favorite cards. For an annual fee it offers almost no notable benefits, with many no annual fee credit cards offering much more. The points earned are fine, but given the inflexibility of ION Avion points, it's very hard to get good value for the points earned, and it's much easier to earn more and do the same with some other credit card reward programs.
Is this card worth it?
The Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.
Pros
- Save on fuel at Petro-Canada locations, with 3 cents per litre off
- Great welcome bonus offer
- 3x points per $1 spent on high spend categories
Pros
- Highest cashback rate on groceries and gas in Canada
- Great base cashback rate for all purchases
- 10 different insurance types included
Cons
- The ION Avion membership isn't quite as flexible as regular Avion
- Insurance coverage is very limited
Cons
- Cash back is only paid out to you once a year
- American Express has a lower merchant acceptance compared to Visa or Mastercard
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