RBC ION Visa vs American Express Platinum Card®: Which one is better?
RBC ION Visa
2.7
American Express Platinum Card®
4.7
Welcome Bonus
Get 6,000 Avion points upon approval
Welcome Bonus*
Experience Amex’s best offer this year on the Platinum Card®. New Platinum® Cardmembers can earn up to 180,000 Membership Rewards® points - that’s up to $1,800 towards a weekend away. Earn 100,000 points after you spend $10,000 on your Card in your first 3 months of Cardmembership. Earn an additional 50,000 points after you spend a total of $50,000 on your Card in your first 12 months of Cardmembership. Plus, earn 30,000 points when you make a purchase between months 15 and 17 of Cardmembership. Offer ends August 18, 2025.
Rewards Breakdown
Annual Rewards
$258.39
RBC ION Avion
First Year Bonus Value
+
$35
RBC ION Avion
Annual Fee
-
$0
First Year Value
$293.39
$258.39 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$581.26
American Express Membership Rewards
First Year Bonus Value
+
$0
American Express Membership Rewards
Annual Fee
-
$799
First Year Value
-$217.74
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
While the first year bonus value here may show $0, the actual welcome bonus offer for this credit card is Up to 180,000 Membership Rewards® points, which we value at $3,780 when you meet the minimum spending or other listed requirements. The value of $0 here was derived based on numbers in the spending inputs and whether you meet the minimum listed requirements.
How to Earn Rewards
- 1.5 points for every dollar in grocery, rides, gas, electric vehicle charging, streaming, digital gaming, subscriptions and more
- 1 point for all other purchases
How to Earn Rewards*
- 2x points per $1 spent on eligible dining & food delivery purchases (restaurant, fast food, coffee shop, food delivery)
- 2x points per $1 spent on eligible travel purchases (flights, hotels, tours and more)
- 1x point per $1 spent for all other purchases
Insurance Included
Extended Warranty
Up to a year
Purchase Protection
90 days
Insurance Included*
Extended Warranty
1 yearPurchase Protection
120 days
Lost or Stolen Baggage
$1,000
Baggage Delay
$1,000.svg)
Car Rental Damage & Theft
Yes
Travel Accident
$500,000
Hotel Burglary Insurance
$1000
Emergency Out of province Medical
15 days
Trip Cancellation
$2,500
Trip Interruption
$2,500Flight Delay
$1,000
Extra Benefits
Extra points
50 Be Well points for every $1 spent on eligible products at Rexall.svg)
Gas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada
Extra Benefits*
Extra points
Earn 2 points on Amex Travel Online purchases and extra points on American Express offers
Trip and legal Assistance
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Concierge Services
American Express® Experiences
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Status lift
Upgrade to Hilton Honors Gold StatusStatus lift
Upgrade to Marriott BonvoyTM Gold Elite status.svg)
Travel Credit
$200
Dining Credit
$200 at Select Restaurants
Nexus Program Rebate
$100 statement credit every 4 years
Airport Lounge - American Express Global Lounge
Take full advantage of The American Express Global Lounge Collection™ which unlocks access to over 1,400 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience.
Complimentary Hotel Benefits
Enjoy complimentary benefits that offer an average value of $550 USD at over 1,600 extraordinary properties worldwide when you book Fine Hotels + Resorts
Priority Travel
At Toronto Pearson Airport get Priority Security lane, Complimentary valet and 15% discount at the Express Park and daily park
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%
Interest Rates*
Purchase:
21.99% - 30%2
Cash Advance:
N/A2
Annual Fee
$0
Annual Fee*
$799
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*
Point Redemption Options
Gift Cards
0.72¢ / point
Merchandise
0.7¢ / point
Statement Credits (Cash)
0.58¢ / pointMost Optimal
Transfer to WestJet
1¢ / point
Financial Products
0.83¢ / point
Travel
0.6¢ / point
Point Redemption Options*
Statement Credits (Cash)
1¢ / pointGift Cards
0.91¢ / pointMerchandise
0.63¢ / pointMost Optimal
Transfer to Airline Partners
2.1¢ / pointFixed Point Travel Program
1.66¢ / pointTransfer to Hotel Partners
1.66¢ / point
Amazon.ca
0.7¢ / point
Is this card worth it?
We actually don't like this card. It neither offers great benefits nor rewards, even for a free card. It's a very average card with many better and worse alternatives, both paid and free.
Is this card worth it?
If you're a frequent traveler, the Platinum card is an excellent choice. It's highly recommended for its extensive travel benefits, including unlimited lounge access for you and a guest at the American Express Lounge collection, making it the best card for lounge access in Canada. The card also offers unique perks not commonly found with other Canadian cards, such as status upgrades at Marriott Bonvoy and Hilton, dining and travel credits, concierge service, airport benefits, Nexus application reimbursement, and more. These benefits can more than offset the annual fee. However, if you don't travel often or are mainly looking for a card that maximizes rewards, this card may not be the best option for you.
Pros
- Good savings on gas if you are a regular petro-Canada gas customer.
Pros
- Offers more perks than any other credit card in Canada, catering to premium users who value extensive benefits.
- Enjoy $400 in annual travel and dining credits, which can offset some of the card's cost.
- Gain unlimited access to over 1,400 airport lounges worldwide, enhancing your travel experience.
- Multiple options for redeeming points for high value, giving you flexibility in how you use your rewards.
- Includes 11 types of insurance coverage, offering comprehensive protection for cardholders.
- It's a metal card, who doesn't love a metal credit card?
Cons
- Insurance coverage is the most basic.
- Reward categories are not the best.
- Avion reward points are generally less valuable.
- Many other cards with no annual fee are available that are all-around better cards than ION Visa.
Cons
- As with other American Express cards, it may have lower acceptance in some locations compared to other networks.
- The high annual fee of $799 may be a barrier for some users, especially those who do not fully utilize the card's benefits.
- Some benefits are limited to specific airports and hotels.
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