RBC ION Visa vs Neo Mastercard®: Which one is better?
RBC ION Visa
3.4
Neo Mastercard®
2.7
Welcome Bonus*
Get up to $75 in groceries(1). Apply by September 9, 2025. Get 7,000 Avion points upon approval – that’s up to $50 of value in gift cards(1). Get 3,125 Moi points upon linking to your Moi Rewards card – a value of $25(1)
Welcome Bonus
N/A
Our Cash Offer
N/A
Our Cash Offer
$50 Cash Rebate offer from FinlyWealth
Rewards Breakdown
Annual Rewards
$258.39
RBC Avion Premium
First Year Bonus Value
+
$70
RBC Avion Premium
Annual Fee
-
$0
First Year Value
$328.39
$258.39 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$181.33
First Year Bonus Value
+
$0
Annual Fee
-
$0
Finly Rebate
+
$50Exclusive Offer
First Year Value
$231.33
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 , which we value at $NaN 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*
- Earn 1.5X Avion points for every $1 spent on groceries, gas, rideshare, streaming services and more2
- Earn 1X Avion point for every $1 spent on all other qualifying purchases2
How to Earn Rewards
- 1% cash back on grocery purchases up to $500 spending per month (3% cash back with $5k in a Neo everyday account, and 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
- 1% cash back on gas purchases up to $500 spending per month (3% cash back with $5k in a Neo everyday account, and 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
- 0% cash back on all other purchases with $0 in a Neo everyday account, or 0.5% cash back with $5k in a Neo everyday account up to $1,667 spending per month, or 1% cash back with $10k in a Neo everyday account up to $1,667 spending per month - drops to 0% cash back again after hitting spend cap
- +5% earned on average at Neo Partners.
Note: our reward calculations use the base cash back rates assuming you do not hold any money in a Neo everyday account to earn the higher tier (boosted) cash back rates, otherwise the reward estimates may be higher.
Insurance Included*
Extended Warranty
Up to a year
Purchase Protection
90 days
Insurance Included
Balance Protection
optional add on
Extra Benefits*
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Gas Discount
Save 3¢/L instantly at the pump and get 20% more Petro-Points and 20% more Avion points
Extra points
Earn 1 extra Moi point for every $2 spent at participating Moi Rewards stores (minimum purchase required)Extra points
50 Be Well points for every $1 spent on eligible products at Rexall
Extra Benefits
Neo Premium ($4.99/month)
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Neo Travel Benefits ($4.99/month)
Neo Food Cashback boost ($1.99/month)
Neo Mind and Body Perks ($9.99/month)
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates
Purchase:
19.99% - 29.99%
Cash Advance:
22.99% - 31.99%
Annual Fee*
$0
Annual Fee
$0
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
0.58¢ / point
Statement Credits (Cash)
0.58¢ / point
Point Redemption Options
Not Applicable
Is this card worth it?
This is a decent no annual fee card, great for starting out and low-intermediate rewards. It offers great gas savings, especially for petro Canada gas customers, though insurance coverage is quite limited.
Is this card worth it?
The Neo Credit Card is special because it earns rewards based on whether the merchant is a partner or not. Most of the time, the cashback earned at these partners is the highest possible compared to all other credit cards. However, we don't recommend using this card as your main credit card and suggest using it only at partner merchants. This is because the rewards at non-partner merchants are very small, and most merchants are not partnered with Neo.
Pros
- Good savings on gas if you are a regular petro-Canada gas customer.
- No annual fee.
- Up to 1.5 points per $1 spent on purchases
Pros
- High cash back on grocery and gas if you're willing to hold at least $5k in a Neo everyday account
- Unique cashback program which earns cashback based on partner instead of purchase category.
- Massive cashback at some partners that any other credit card couldn't beat.
- Unique benefit system where perks could be bought with a monthly fee and cancelled after use.
Cons
- Insurance coverage is the most basic.
- Reward categories are not the best.
- Avion reward points are generally less valuable.
Cons
- Base Cash back is very low when you do not hold any money in a Neo everyday account
- No built-in purchase protection and extended warranty benefit.
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