RBC ION+ Visa vs RBC Cash Back Mastercard: Which one is better?
RBC Cash Back Mastercard
2.2
RECOMMENDED CREDIT SCORE
Rewards Breakdown
Annual Rewards
$418.24
RBC ION Avion
Welcome Bonus
$70
RBC ION Avion
Annual Fee
$48
First Year Value
$440.24
$370.24 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$251.28
RBC ION Avion
Welcome Bonus
$0
RBC ION Avion
Annual Fee
$0
First Year Value
$251.28
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Purchase Protection
90 days
Extended Warranty
Up to a year
Mobile Device Insurance
$1,000
Insurance Included
Purchase Protection
90 daysExtended Warranty
Up to a year
Extra Benefits
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
Gas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-CanadaExtra points
50 Be Well points for every $1 spent on eligible products at Rexall
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99% (for Quebec 21.99%)
Balance Transfer:
22.99%
Annual Fee
$48
Annual Fee
$0
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
N/A
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
- 2% cash back on groceries (maximum $120 cash back yearly then 1%)
- 0.5% cash back on all other purchases for the first $6k spent
- 1% cash back on all other purchases after spending over $6k
Loyalty Program
Loyalty Program
N/A
Point Redemption Options
Most Optimal
Transfer to WestJet
1¢ / point
Travel
0.6¢ / point
Financial Products
0.83¢ / point
Gift Cards
0.72¢ / point
Merchandise
0.7¢ / point
Statement Credits
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 RBC Cash Back Mastercard is a solid no-fee option for those looking to earn 2% cash back on groceries and save on gas at Petro-Canada. However, the lower cash back rate on other purchases and limited insurance coverage make it a basic rewards card for everyday use. It’s great for those who prefer a no-annual-fee card with flexible cash back redemption options.
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
- 2% cash back on groceries (up to $6,000 annually).
- No annual fee.
- Instant gas savings: Save 3¢ per litre at Petro-Canada locations and earn 20% more Petro-Points.
- Flexible cash back redemption: Get your cash back on demand when you reach $25 in accumulated rewards.
Cons
- Bonus saving of 3 cents per liter on gas at Petro-Canada stations.
- 12,000 avion points welcome bonus.
Cons
- Lower cash back rate: Only 0.5% cash back on non-grocery purchases up to $6,000, and 1% after.
- Limited insurance coverage: Only basic extended warranty and purchase protection.
