The RBC ION+ Visa Credit Card is a comprehensive solution for individuals looking to earn rewards on everyday spending. Designed to cater to various needs, this card ensures you maximize your spending by earning Avion points on routine purchases like groceries, gas, and dining. Beyond rewards, it also offers a suite of benefits tailored to enhance convenience, security, and value.

This credit card goes beyond standard offerings by providing extensive insurance coverage, partner deals, and the flexibility to redeem points in multiple ways. Let’s dive deeper into its features, advantages, and application process to see why this card could be the perfect addition to your wallet.

Key information about the credit card

How does the annual fee work?

The RBC ION+ Visa Credit Card comes with an annual fee of $48, which is conveniently divided into 12 monthly installments of $4. This structure ensures affordability by spreading the cost throughout the year, making it easier to manage alongside other financial commitments.

However, the card offers special benefits for students. By opening an RBC Advantage™ Banking Account for Students, cardholders can enjoy a full rebate of the annual fee. This means the card effectively becomes a no-fee option for students, making it a standout choice for those pursuing higher education. The blend of affordability and benefits ensures that the card is accessible to a wide range of users, from students to professionals.

How is the credit limit determined?

The credit limit for the RBC ION+ Visa is calculated based on a thorough assessment of the applicant’s financial profile. RBC evaluates factors such as income, credit history, existing debts, and repayment capacity. This ensures that the assigned credit limit aligns with the cardholder’s ability to manage credit responsibly, providing financial flexibility while promoting prudent usage.

For conventional credit cards like the RBC ION+ Visa, the institution determines the limit based on these criteria. However, for students or individuals with a limited credit history, the starting limit may be lower, with potential for increases as the cardholder demonstrates responsible usage over time.

Advantages of the credit card

• Generous rewards on everyday spending: Cardholders earn 3X Avion points for every dollar spent on groceries, dining, transportation, and streaming services. These categories cover most daily expenses, ensuring you’re rewarded for spending on essentials.
• Low redemption threshold: With just 1,400 points, you can redeem rewards for a $10 gift card. This low threshold means you don’t have to wait long to enjoy the benefits of your accumulated points.
• Exclusive partner perks: Enjoy savings and additional rewards through partnerships with top brands. For instance, save 3¢ per liter on fuel at Petro-Canada and earn 20% more Petro-Points, or link your card to DoorDash for complimentary DashPass membership benefits.
• Comprehensive insurance coverage: Gain access to valuable protections, including mobile device insurance, purchase security, and extended warranty coverage, which provide peace of mind for your purchases and gadgets.
• Student-friendly features: The annual fee rebate for students ensures affordability, making it an ideal choice for those pursuing higher education.
• Enhanced security and convenience: With features like fraud protection, the RBC Mobile App, and NOMI insights, managing your finances is secure and straightforward.

Standout advantage

What sets the RBC ION+ Visa apart from other cards is its high rewards rate for everyday spending categories. Cardholders earn 3X Avion points on frequently used categories like groceries, dining, transportation, and entertainment, including streaming services and in-game purchases. These categories reflect common expenses for most households, ensuring you consistently earn maximum rewards on the purchases you make most often.

Disadvantages

• Annual fee: Although affordable, the annual fee of $48 might not appeal to those who prefer no-fee credit card options.
• High interest rates: With a purchase rate of 20.99% and a cash advance rate of 22.99%, the card can become costly for those who carry a balance.
• Limited international benefits: The card is primarily designed for Canadian consumers and may lack some travel-related perks that frequent international travelers seek.

A standout disadvantage

The most significant drawback of the RBC ION+ Visa is its relatively high interest rates. With a purchase rate of 20.99% and a cash advance rate of 22.99%, it’s essential for cardholders to pay off their balances in full each month to avoid costly interest charges. This can be a limiting factor for individuals who need a more lenient payment schedule or who occasionally carry a balance. Responsible credit card use is key to maximizing the benefits of this card while minimizing potential financial strain.

Who can apply for this card?

To apply for the RBC ION+ Visa Credit Card, applicants must meet specific eligibility requirements. You must be at least 18 years old or the age of majority in your province or territory. Additionally, applicants need to have a stable source of income and a good credit score to qualify for this card.

The card is available to both students and professionals. For students, opening an RBC Advantage™ Banking Account for Students can help waive the annual fee, adding to its appeal. However, the card is not designed for individuals with a poor credit history or those who are currently under significant financial strain. A valid Canadian address and government-issued identification are also required during the application process.

How to apply for the RBC ION+ Visa Credit Card

For the website

To apply online, visit the RBC official website and navigate to the RBC ION+ Visa Credit Card page. Click the “Apply Now” button to start the application process. You’ll be asked to provide personal details such as your name, address, income, and employment information. Once you’ve completed the form, submit it for review. In most cases, you’ll receive an instant decision on your application.

Through the app

The RBC Mobile App offers a convenient way to apply for the RBC ION+ Visa Credit Card. Download the app, log in to your RBC account, and navigate to the credit cards section. Select the RBC ION+ Visa and complete the application form directly within the app. This method is particularly useful for existing RBC customers, as much of the required information may already be pre-filled.

At the branch

For those who prefer face-to-face interactions, visiting an RBC branch is an excellent option. Bring your identification, proof of income, and other necessary documents to streamline the process. An RBC representative will guide you through the application, answer any questions, and provide insights into how the card’s features can align with your financial goals.