RBC ION+ Visa

RBC ION+ Visa

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SimplyCash™ Preferred Card from American Express

SimplyCash™ Preferred Card from American Express

Apply Now

RBC ION+ Visa vs SimplyCash™ Preferred Card from American Express: Which one is better?


RBC ION+ Visa

RBC ION+ Visa

3


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

SimplyCash™ Preferred Card from American Express

SimplyCash™ Preferred Card from American Express

4.7


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Rewards Breakdown

Annual Rewards

$425.98

RBC ION Avion


First Year Bonus

$70

RBC ION Avion


Annual Fee

$48


First Year Value

$447.98

$377.98 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$534.23


First Year Bonus

$200


Annual Fee

$119.88


First Year Value

$614.35

$414.35 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days

Insurance Included*

  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

  • lost baggage

    Lost or Stolen Baggage

    $500
  • hourglass timer

    Baggage Delay

    $500
  • car insurance

    Car Rental Damage & Theft

    $85K up to 48 days
  • heart lock

    Travel Accident

    $100,000
  • burglar

    Hotel Burglary Insurance

    $500
  • travel accident medical

    Emergency Out of province Medical

    $5M/insured Person
  • hourglass timer

    Flight Delay

    $500

Extra Benefits

  • gas station

    Gas Discount

    save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada
  • reward cup

    Extra points

    50 Be Well points for every $1 spent on eligible products at Rexall

Extra Benefits*

  • Amex logo

    Amex Experiences™

    Access events and special offers curated for Cardmembers with Amex Experiences™

Interest Rates

Purchase:

20.99%

Cash Advance:

22.99%

Interest Rates*

Purchase:

21.99%2

Cash Advance:

21.99%2

Annual Fee

$48

Annual Fee*

$119.88

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus

Get 12,000 Avion points upon approval

Welcome Bonus*

Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.

Rewards Rate

  • 3 points for every dollar in Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming & Subscriptions Purchases
  • 1 point for everything else

Rewards Rate*

  • 4% cash back on eligible gas station purchases in Canada
  • 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back annually)
  • 2% cash back on all other eligible purchases

Loyalty Program

Loyalty Program*

N/A

Point Redemption Options

  • Most Optimal

    westjet

    Transfer to WestJet

    1¢ / point
  • finance money dollar

    Financial Products

    0.83¢ / point
  • gift card

    Gift Cards

    0.72¢ / point
  • online shop

    Merchandise

    0.7¢ / point
  • travel - plane

    Travel

    0.6¢ / point
  • cash coins

    Statement Credits (Cash)

    0.58¢ / point

Point Redemption Options*

Not Applicable

Is this card worth it?

This card is not by any means one of our favorite cards. For an annual fee it offers almost no notable benefits, with many no annual fee credit cards offering much more. The points earned are fine, but given the inflexibility of ION Avion points, it's very hard to get good value for the points earned, and it's much easier to earn more and do the same with some other credit card reward programs.

Is this card worth it?

The Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.

Pros

  • Insurance coverage is very little for a card with annual fee. There are cards with no annual fee that offer even better benefits.
  • Avion reward points are generally not very flexible and not as valuable if not used for WestJet travel; therefore, if that's not your plan, there are many better cards that can be used.
  • The annual fee isn't justifiable based on the reward program this card offers.

Pros

  • Highest cashback rate on groceries and gas in Canada
  • Great base cashback rate for all purchases
  • 10 different insurance types included

Cons

  • Bonus saving of 3 cents per liter on gas at Petro-Canada stations.
  • 12,000 avion points welcome bonus.

Cons

  • Cash back is only paid out to you once a year
  • American Express has a lower merchant acceptance compared to Visa or Mastercard

Legal


*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment. Check here for full details and current product information.
2 If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 28.99%.

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