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RBC ION+ Visa vs Tangerine Money-Back Credit Card: Which one is better?
RBC ION+ Visa
3
Tangerine Money-Back Credit Card
4
Finly Rebate
N/A
Finly Rebate
Rewards Breakdown
Annual Rewards
$425.98
RBC ION Avion
First Year Bonus Value
$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
$278.6
First Year Bonus Value
$100
Annual Fee
$0
First Year Value
$378.6
$278.6 in years after
Based on $2,000/mo average spending and assuming you have a Tangerine Savings account. Calculate your rewards.
Insurance Included
Extended Warranty
Up to a year
Purchase Protection
90 days
Mobile Device Insurance
$1,000
Insurance Included
Extended Warranty
Up to a yearPurchase Protection
90 days
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
N/A
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%
Interest Rates
Purchase:
20.95%2
Cash Advance:
22.95%2
Balance Transfer:
22.95%2
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
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
In the first 2 months, get a bonus 10% cash back up to $100
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% on the choice of two categories chosen from the 10 offered by Tangerine
- 0.5% cashback on all other credit card purchases.
Loyalty Program
Loyalty Program
N/A
Point Redemption Options
Most Optimal
Transfer to WestJet
1¢ / point
Financial Products
0.83¢ / point
Gift Cards
0.72¢ / point
Merchandise
0.7¢ / point
Travel
0.6¢ / point
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?
While we think Tangerine isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.
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
- Allows you to change the categories, and you get a 2% reward depending on how your spending is changing every 90 days.
- 2% cashback on recurring Transactions and pharmacy purchases. One of the highest cashback rates on these categories among credit cards in Canada.
- Has cashback on Furniture and Home Improvement categories. Two categories that are not covered by any other card in Canada.
- Easy credit score requirements needed for this card.
- Overall, it is a good no-annual-fee cashback credit card, especially if you have a Tangerine Savings account.
Cons
- Bonus saving of 3 cents per liter on gas at Petro-Canada stations.
- 12,000 avion points welcome bonus.
Cons
- Insurance coverage is the most basic.
- Very low cashback rate on the other categories not selected.
vs American Express Cobalt® Card
vs Rogers Red Mastercard®
vs Scotiabank Passport® Visa Infinite* Card
vs Rogers Red World Elite® Mastercard®
vs Simplii Financial™ Cash Back Visa* Card
vs Scotia Momentum® Visa Infinite* Card
vs SimplyCash™ Preferred Card from American Express
vs Amazon.ca Rewards Mastercard®
vs BMO CashBack® World Elite® Mastercard®
vs CIBC Costco Mastercard
vs Scotia Momentum® Visa* Card
vs American Express® Aeroplan®* Card
vs SimplyCash® Card from American Express
Legal
2 The annual interest rate on Purchases is 20.95% and Cash Advances (including Balance Transfers) is 22.95%. Rates are subject to change. If you don't make 2 consecutive monthly Minimum Payments, or at any time thereafter, an interest rate of 25.95% will apply to your Account on Purchases and 27.95% on Cash Advances (including Balance Transfers).