RBC ION+ Visa review

How the ION+ earns points

The ION+ earns 3 Avion points per dollar across four broad categories: groceries; gas, EV charging, transit and rideshare; dining and food delivery; and streaming, digital subscriptions and gaming. All other qualifying purchases earn 1 point per dollar.

As an example, $500 a month on groceries, $150 on gas and transit, $200 on dining and delivery and $40 on streaming adds up to $890 in 3x categories, which earns 2,670 points a month. Add $400 of other spending and the total is 3,070 points a month, or 36,840 points a year.

Because the 3x categories are so broad, most of a typical monthly budget earns the top rate. In the example, 87% of the points come from those four categories.

The welcome offer

New cardholders receive up to 14,000 Avion points, awarded on approval, so there’s no spending target to chase. That’s about four and a half months of earning in the example budget above.

Using Avion points and extra perks

Points earned on the ION+ are Avion points, but points earned on ION cards may not redeem at the same rate as those on RBC’s premium Avion cards. Compare RBC’s redemption options before you cash in, so you know what your balance can get you.

Extras include free additional cards, a three-month complimentary DoorDash DashPass, and savings of 3 cents a litre plus 20% more Petro-Points at Petro-Canada. The DashPass trial pairs well with the 3x rate on food delivery.

Fees, interest and the fine print

The ION+ charges $4 a month, which adds up to $48 a year. The fee is rebated for students and anyone 24 or younger who holds an RBC Advantage Banking for Students account, making the card effectively free for them.

For everyone else, the example budget earns 36,840 points a year against a $48 fee, so the card doesn’t take much spending to justify. Foreign currency purchases carry a 2.5% fee, about $25 per $1,000. Purchases are charged 20.99% interest and cash advances 22.99%; paying your full balance each month avoids purchase interest.

Insurance coverage

The ION+ covers your phone and purchases but doesn’t include travel insurance. Check the certificate for limits and exclusions.

• Mobile device insurance up to $1,000
• Purchase security and extended warranty

Who it suits, and who should look elsewhere

The ION+ suits students, young adults and anyone whose spending is concentrated on groceries, commuting, eating out and subscriptions, and who wants a low fee. With a 600+ credit score guideline, it’s also within reach for people still building their credit history.

If you travel often, the lack of travel insurance and the 2.5% foreign transaction fee are drawbacks. People who want to get the most from Avion points may prefer a premium Avion card.

How it compares

The RBC ION Visa is the no-fee version, with up to 1.5x on groceries and up to 7,000 Avion points as a welcome offer. If you spend modestly, it avoids the $48 fee, but the ION+ earns twice as much on groceries.

The American Express Cobalt Card costs $191.88 a year and earns up to 5x on eats and food delivery, with up to 15,000 Membership Rewards points as a welcome offer. It’s worth comparing if food is your biggest expense and you don’t mind a much higher fee.

Before you apply

The recommended credit score is 600 or higher, and RBC makes the final decision based on your full credit profile. Confirm the current earn rates, fee rebate rules and welcome offer on RBC’s website before you apply.