RBC ION+ Visa vs MBNA Rewards World Elite® Mastercard®: Which one is better?
RBC ION+ Visa
3
MBNA Rewards World Elite® Mastercard®
4
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
$597.84
MBNA Rewards
First Year Bonus
$300
MBNA Rewards
Annual Fee
$120
First Year Value
$777.84
$477.84 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Mobile Device Insurance
$1,000
Extended Warranty
Up to a year
Purchase Protection
90 days
Insurance Included
Mobile Device Insurance
$1000
Extended Warranty
Up to a year
Purchase Protection
Up to 90 days
Lost or Stolen Baggage
$1000/person
Baggage Delay
$1000/person
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Car Rental Damage & Theft
31 days
Travel Accident
$1,000,000
Emergency Out of province Medical
$2M for 21 days
Flight Delay
$500/person after 4 hours
Extra Benefits
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Gas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada
Extra points
50 Be Well points for every $1 spent on eligible products at Rexall
Extra Benefits
Price Protection
$500/item, $1000/account per year
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Trip and legal Assistance
Annual Birthday Bonus
10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 15,000 bonus points per year)
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Concierge Services
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%
Interest Rates
Purchase:
19.99%
Cash Advance:
24.99%
Annual Fee
$48
Annual Fee
$120
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Welcome Bonus
14,000 welcome Avion points (“Welcome Points”) will appear on your monthly credit card statement within sixty (60) days after your application has been approved, provided that your RBC ION+ Visa credit card account (“Credit Card Account”) remains open and in good standing at the time the Welcome points are credited to your account, “good standing” meaning that your Credit Card Account must not be past due for more than two (2) consecutive credit card account statement periods, closed, charged off or in credit revoked status.
Welcome Bonus
10,000 points for going Paperless. 20,000 points after spending $2,000 after 90 days of account opening
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
- 5 points on restaurant, grocery, digital media, membership, and household utility purchases (maximum $50,000 spend annually per category)
- 1 point for everything else
Loyalty Program
Loyalty Program
Point Redemption Options
Gift Cards
0.72¢ / point
Merchandise
0.7¢ / point
Travel
0.6¢ / point
Most Optimal
Transfer to WestJet
1¢ / point
Financial Products
0.83¢ / point
Statement Credits (Cash)
0.58¢ / point
Point Redemption Options
Most Optimal
Travel
1¢ / point
Gift Cards
0.85¢ / point
Merchandise
0.8¢ / point
Statement Credits (Cash) - World Elite
0.83¢ / point
Statement Credits (Cash) - Platinum
0.5¢ / point
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 MBNA Rewards World Elite® Mastercard® is one of the best reward credit cards in Canada, offering high rewards on frequently spent categories such as groceries and restaurant purchases. The annual birthday bonus, unique to this card, also provides a significant boost to your yearly earnings. Additionally, the card features a comprehensive list of benefits, including price protection—a rare and valuable perk not found with many other cards in Canada. These factors make this card one of the best to have in Canada.
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
- Both restaurants and groceries, two of the most commonly spent categories, earn decent rewards.
- Great annual birthday bonus with up to $150 in value.
- A solid list of travel insurance and benefits.
- Price protection, a rare feature not offered by many other cards.
- Good value for many of the card's redemption options.
Cons
- Bonus saving of 3 cents per liter on gas at Petro-Canada stations.
- 12,000 avion points welcome bonus.
Cons
- Trip cancellation and interruption insurance, two great benefits are missing from this card.
- Not the best card for gas purchases.
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