RBC ION+ Visa vs MBNA Rewards World Elite® Mastercard®: Which one is better?

RBC ION+ Visa
3

MBNA Rewards World Elite® Mastercard®
5
Welcome Bonus
3,500 Avion points (“Welcome Points”) will appear within the first two monthly statements. 3,500 additional Avion points will be awarded to you if a total of $500 or more in qualifying net purchases and/or pre-authorized bill payment transactions (“Qualifying Transactions”) are posted to your RBC ION+ Visa credit card account within the first 3 months from the date of your credit card account open date, provided your account is open and in good standing at the time you reach $500 in Qualifying Transactions.
Welcome Bonus*
20,000 bonus points†† (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days of your account opening. 10,000 bonus points††(approximately $80 in cash back value) once enrolled for paperless e-statements within the first 90 days of account opening. This offer is not available for residents of Quebec.
Our Cash Offer
N/A
Our Cash Offer
$120 Cash Rebate offer from FinlyWealth
Rewards Breakdown
Annual Rewards
$425.98
RBC ION Avion
First Year Bonus Value
+
$70
RBC ION Avion
Annual Fee
-
$48
First Year Value
$447.98
$377.98 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$657.62
MBNA Rewards
First Year Bonus Value
+
$300
MBNA Rewards
Annual Fee
-
$120
Finly Rebate
+
$120Exclusive Offer
First Year Value
$957.62
$537.62 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
How to Earn Rewards
- 3 points for every dollar in Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming & Subscriptions Purchases
- 1 point for everything else
How to Earn Rewards*
- Earn 5 points‡ for every $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $50,000 is spent annually in the applicable category.
- 1 point‡ for every $1 on all other eligible purchases.
- Each year, you will receive Birthday Bonus Points‡ equal to 10% of the total number of Points the Account earned in the 12 months before the month of the primary cardholder's birthday, to a maximum Birthday Bonus each year of 15,000 Points.
Insurance Included
Mobile Device Insurance
$1,000Extended Warranty
Up to a yearPurchase Protection
90 days
Insurance Included*
Mobile Device Insurance
$1000Extended Warranty
Up to a yearPurchase Protection
Up to 90 daysLost or Stolen Baggage
$1000/personBaggage Delay
$1000/personCar Rental Damage & Theft
31 daysTravel Accident
$1,000,000Emergency Out of province Medical
$2M for 21 daysFlight Delay
$500/person after 4 hours
Extra Benefits
Gas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-CanadaExtra points
50 Be Well points for every $1 spent on eligible products at Rexall
Extra Benefits*
Price Protection
$500/item, $1000/account per yearCar Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationallyTrip and legal Assistance
Annual Birthday Bonus
10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 15,000 bonus points per year)Concierge Services
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%
Interest Rates*
Purchase:
19.99%2
Cash Advance:
24.99%2
Balance Transfer:
22.99%2
Annual Fee
$48
Annual Fee*
$120
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
$80,000
Min Household Income:
$150,000
Loyalty Program
Loyalty Program*
Point Redemption Options
Gift Cards
0.72¢ / pointMerchandise
0.7¢ / pointTravel
0.6¢ / pointMost Optimal
Transfer to WestJet
1¢ / pointFinancial Products
0.83¢ / pointStatement Credits (Cash)
0.58¢ / point
Point Redemption Options*
Most Optimal
Travel
1¢ / pointGift Cards
0.98¢ / pointMerchandise
0.8¢ / pointStatement Credits (Cash) - World Elite
0.82¢ / pointStatement Credits (Cash) - Platinum
0.5¢ / point
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 MBNA Rewards World Elite® Mastercard® is one of the best reward credit cards in Canada, offering high rewards on frequently spent categories such as groceries and restaurant purchases. The annual birthday bonus, unique to this card, also provides a significant boost to your yearly earnings. Additionally, the card features a comprehensive list of benefits, including price protection—a rare and valuable perk not found with many other cards in Canada. These factors make this card one of the best to have in Canada.
Pros
- Insurance coverage is very little for a card with annual fee. There are cards with no annual fee that offer even better benefits.
- Avion reward points are generally not very flexible and not as valuable if not used for WestJet travel; therefore, if that's not your plan, there are many better cards that can be used.
- The annual fee isn't justifiable based on the reward program this card offers.
Pros
- Both restaurants and groceries, two of the most commonly spent categories, earn the most rewards.
- The MBNA rewards world elite mastercard offers a great annual birthday bonus with up to $150 in value.
- A solid list of travel insurance and benefits.
- Price protection, a rare feature not offered by many other cards.
- Good value for many of the card's redemption options.
Cons
- Bonus saving of 3 cents per liter on gas at Petro-Canada stations.
- 12,000 avion points welcome bonus.
Cons
- Trip cancellation and interruption insurance, two great benefits are missing from this card.
- Not the best card for gas purchases.


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