RBC ION Visa Card Review

RBC ION Visa Review

The RBC ION Visa is one of the newer credit cards offered by RBC, which has no annual fees.

This is a points card, part of the Avion Rewards program, allowing you to use your points towards several redemptions.

The Rewards

How You Earn Rewards

You may earn rewards on your purchases as:

• 1.5 avion points per $1 spent on grocery, rideshare, gas & EV charging, streaming, gaming, and digital subscriptions.

• 1 avion point per $1 spent on all other qualifying purchases.

Compared to the RBC ION+ card, this card has earned bonus points on much fewer categories and with a much lower earning rate, so if you have a moderate spending rate, the ION+ will probably be a much better option.

Even with the best redemption of 1 cent per Avion point, the equivalent cashback rate for the grocery, rideshare, gas, and subscription is 1.5%, and for all the other purchases, it is 1%. One key category missing, which is usually a significant portion of the expense for many, is Food, Restaurants, and coffee shops, which means many lose out on a lot of potential rewards for their spending on these categories.

One thing some people mistake is that they believe digital subscription means all recurring and pre-authorized transactions, but that's a mistake. As the word says, only digital subscriptions count, so, for example a utility or other payment won't get 1.5 points.

The returns are okay, but in general, whenever the redemption percentage is low, it's better to go for a cashback card because you don't need to go through the trouble of maximizing your points value.

Due to the average rewards earned, the absence of some important categories, and the nuisance of redeeming the point in a specific way, this card only earns an average score for rewards earned.

As always, if your main goal is to maximize your rewards, don't forget to use Finly's calculator to find the best card suited for you.

How You Redeem Rewards

These are the multiple ways you can redeem your Avion points for ION cards.

Important Note:

It's worth noting that the ION credit cards don't offer the same redemption options as the regular Avion credit cards. The best option for you is to transfer your points to the airline partner WestJet.

Unfortunately, that's the only airline you can redeem for, and other options give lower redemption value.

Welcome Bonus

The RBC ION Visa card comes with a welcome bonus of up to 6,000 Avion points upon approval.

Approval

Obtaining the RBC ION Visa card is quite simple. There isn't a set minimum income needed, and if you have a credit score in the Good range, you'll likely be approved.

What's even better? If you qualify when applying for this card, you'll receive immediate approval.

2 Benefits of the RBC ION Visa Credit Card

1. No Annual Fee

The RBC ION Visa has no annual fee, so for people who want have very little spending this could be a good option to go for.

2. RBC Additional Features

You can save 3 cents per liter on fuel when you link your card to your Petro-Canada account. So, if you use Petro Canada a lot, this could add up.

You also earn 50 Be Well points for every $1 spent on eligible purchases at Rexall when you link your RBC card and scan your Be Well card.

You also get a 3-month complimentary DashPass subscription valued at almost $30.

3 Downsides of the RBC ION Visa Credit Card

1. Poor Avion Rewards Redemption

Unfortunately, this card has a lower redemption value when it comes to redeeming your Avion points compared to standard Avion credit cards because of the limitations imposed on ION Avion point redemptions.

2. Low Insurance Coverage

The ION visa only has basic purchase protection and an extended warranty. The minimum benefits almost all free cards have. This is a big downside because better cards have some good benefits to go for, like Roadside assistance, No foreign Transaction fee, etc.

So, if you are looking for good benefits, the ION visa is probably not the option you should be looking at.

3. Very Average Rewards

As mentioned in the rewards section, the ION visa does not cover some popular spending categories like food and restaurants. Also, the reward rate is not that high; therefore, it might be just easier to get a cashback card instead of an ION Visa to not go through the trouble of redeeming points.

When users use the calculator to calculate the best card for them, ION Visa rarely even shows up in the top 10, which means it's not doing that great in that section.

Final Verdict

We rate this card 5.5/10 since 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; therefore, the rating also puts this card as an average card.