Credit card review: How does the RBC ION+ Visa stack up?
This post is sponsored by RBC.
Whether you’re a student or a working professional, the right credit card can make budgeting easier while also rewarding your everyday spending. With so many options on the market, narrowing down the best fit can feel overwhelming. If you’re focused on value and want a card that delivers strong rewards without a high price tag, the RBC ION+ Visa is worth a look. It offers solid earn rates, simple redemption options, and a low annual fee.
Key takeaways
- The RBC Ion+ Visa is a strong option for consumers who want to earn rewards on their everyday spending.
- The card comes with a low annual fee of $48, which can be waived when bundled with select RBC bank accounts.
- The card has a wide variety of rewards-earning categories, as well as several flexible redemption options.
What categories earn bonus points on the RBC ION+?
The RBC ION+ is one of the best credit cards for points. You get 3 Avion points per dollar spent on groceries, gas, EV charging, dining, food delivery, rideshares and daily transit, streaming services, and digital gaming, and subscriptions. All other purchases earn you 1 point for every dollar spent.
Simply put, there is no other card on the market that gives you as many 3X categories. This benefits those looking to stretch their dollars, as you can rack up rewards on tons of everyday purchases. With those points earned, you can redeem them on gift cards, statement credits and more, to help you reduce your daily expenses.
Also read: The best credit cards for groceries in Canada.
What benefits come with the RBC ION+?
The RBC ION+ Visa also includes a solid suite of insurance benefits. Mobile device insurance protects your phone for up to two years – and up to $1,000 – if it’s lost, stolen, or damaged, as long as you purchased it using your RBC ION+ card.
The card’s purchase security protects your items against loss, theft, or damage for 90 days after purchase. You also get extended warranty coverage that doubles the manufacturer’s warranty for up to one extra year, for a maximum total of five years.
How does the RBC ION+ Welcome Bonus compare to similar cards?
The welcome bonus for the RBC ION+ is currently up to 28,000 points, worth up to $200 in gift cards. You get 7,000 points upon approval, another 14,000 points when you spend $1,500 in the first six months, and an additional 7,000 points after the one-year anniversary.
While it’s not one of the best welcome bonus credit cards in Canada, its offer is similar to those of competing cards. For instance, the TD Aeroplan Visa Platinum Card gives 20,000 Aeroplan points, worth approximately $400, when spending $1,500 in the first 90 days, while the American Express Cobalt welcome bonus is worth up to 15,000 American Express Membership Rewards points, or approximately $150, but requires you to spend $750 monthly for 12 months.
What are the points best redeemed for, and why?
While many RBC credit cards earn you Avion points, there are actually three different tiers. Depending on which tier of points you’re earning, you’ll have different redemption options.
The RBC ION+ earns you Avion Premium points, which are the second tier of points through the Avion program. This gives you a good amount of redemption options, such as:
- Direct travel bookings via the RBC travel portal, though the redemption value for travel is lower than with RBC’s higher-tier Avion Elite points
- Gift cards
- Paying your credit card balance
- Merchandise
- Bill payments
- Investments with RBC
- Transfer your points to WestJet Rewards, American Airlines AAdvantage, or British Airways Avios
The most valuable way to redeem your points is by transferring them to WestJet Rewards at a 1:1 ratio - 100 Avion Premium points become 100 WestJet points. Since 100 WestJet points are worth $1, you’re getting a cost per point (CPP) of 1.
Gift cards can also offer solid value. With certain retailers, you can redeem 1,400 points for a $10 gift card, which works out to a CPP of 0.71.
The higher the CPP, the more valuable the redemption.
Also read: The best rewards credit cards in Canada
What partner perks come with the RBC ION+ Card?
Linking your RBC ION+ card to your Petro-Points account can give you up to 7¢/L in value at Petro-Canada, including an instant savings of 3¢ per litre, plus 20% more Petro-Points and 20% more Avion points when you pay with your linked card. That can add up to approximately $100 in annual value when filling up three times per month. You’ll also get a complimentary six-month DashPass subscription, and if you connect your card to Rexall’s Be Well program, you’ll earn 50 Be Well points per dollar spent — five times more points than you’d earn when paying with a non-RBC card.
Another valuable partner is Triangle Rewards, the loyalty program for Canadian Tire, SportChek, Mark’s, Party City, and more. Once your accounts are linked, you’ll earn three times the Canadian Tire Money when you pay with your RBC card.
When you compare RBC credit cards to other financial institutions, you’ll quickly realize that one of its strengths is its partnerships. That’s because RBC cards are partnered with multiple loyalty programs, so you can spend once and earn twice. On the other hand, some other banks have limited or no retail partners.
How much does the RBC ION+ Credit Card cost per year?
The RBC ION+ annual fee is $48, which is charged once a year. However, you can get that fee rebated if you have a VIP Banking account with RBC. This account has no monthly fee for full-time students or anyone 24 and younger, so it’s a win-win.
Can students get the RBC ION+ annual fee waived?
If you’re a student or 24 and younger, you can get the annual fee completely rebated if you have an RBC Advantage™ Banking Account for Students.
Also read: The best student credit cards in Canada
Who and who isn’t the RBC ION+ card for?
The RBC ION+ is a strong fit for a wide range of people. Students and young adults will appreciate that the annual fee can be waived, while anyone looking to earn solid rewards without paying a high yearly cost will find good value here.
That said, frequent travellers or those who prioritize travel perks may find the card lacking, since Avion Premium points don’t offer the same travel redemption value as the Avion Elite points earned with some of RBC’s travel-focused cards. And if you prefer simple, straightforward rewards, a cash‑back card might be a better match since points programs can feel more complicated for some.
Annual fee, redemption, and earning rate: How does the RBC ION+ stack up?
| Card | Annual Fee | Earn Rate | Redemption Flexibility | Other Benefits |
| RBC ION+ | $48 (can be waived with select RBC bank accounts) | 3X on groceries, gas, dining, food delivery, rideshare, streaming services and more. 1X on everything else | Can be used on travel, gift cards, statement credits, investments and more | Mobile device insurance, purchase security, extended warranty and various retail partnerships |
| Scotiabank Scene+ Visa | $0 | 2X on select groceries, Home Hardware and Cineplex purchases. 1X everywhere else | Can be used on travel, groceries, Cineplex and select restaurants | Discounts at Shell gas stations and extra points when booking hotels and car rentals via Scene+ Travel |
| CIBC Dividend Visa Card | $0 | 2% cash back on groceries, 1% on gas, dining, recurring payments, travel, and 0.5% back on everything else | Can be done anytime with a $10 minimum | Purchase security, extended warranty and gas discounts at Parkland owned gas stations |
| TD Aeroplan Platinum | $89 (waived with select TD bank accounts) | 1 Aeroplan point per $1 on gas, groceries and Air Canada purchases. 1 point per $1.50 on all other purchases | Can be redeemed for flights, hotels, vacation packages, car rentals and more. | Travel insurance, discounts at Avis and Budget Rent A Car, mobile device insurance, purchase security and extended warranty |
| American Express Cobalt | $191.88 ($15.99 charged monthly) | 5X on grocery stores and restaurants, 3X on streaming services, 2X on travel and transit and 1X on everything else | Points can be redeemed for any purchase or transferred to airline and hotel partners | Mobile device insurance, purchase security, extended warranty and Amex Front Of The Line perks |
Also read:
- Low interest vs rewards credit cards in Canada
- Smart ways to use a student credit card in Canada
- How to book a dream vacation using only credit card points
- Choosing the right rewards path