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RBC Rewards+ Visa Credit Card Review 2024

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The RBC Rewards+ Visa Card is one of three student credit cards offered by the bank. The other student cards are the RBC Cash Back Mastercard and the RBC ION Visa.

Students looking for a credit card often consider factors like no-annual fees and a flexible rewards program. The RBC Reward+ Visa delivers on both fronts.

This RBC Reward+ Visa review covers its benefits, downsides, and alternatives.

The RBC Rewards+ Visa and Signature RBC Rewards Visa cards no longer accept applications. You can apply for the RBC ION Visa, RBC Cash Back Mastercard or RBC ION+ Visa cards instead (see details below).

RBC Rewards+ Visa Alternatives

RBC ION Visa

Entry-level RBC rewards credit card

Annual fee: $0

Welcome offer: Get 3,500 bonus Avion points following approval.

Rewards: Earn 1.5x Avion points per $1 spent on groceries, rides, gas, streaming, subscriptions, digital gaming, and EV charging; 1 Avion point for every $1 spent on all other purchases.

Interest rates: 19.99% on purchases and 22.99% on cash advances.

Minimum income requirement: None

Recommended credit score:
660
900

Good or better

rbc ion visacard-img

On RBC’s website

  • Earn 1.5 Avion points for every dollar you spend on groceries, rideshare, daily public transit, gas, streaming, subscriptions, and digital gaming.
  • Earn 1 Avion point for every dollar you spend on all other qualifying purchases.
  • Save 3¢/L on fuel purchased at Petro-Canada when you link your credit card to your Petro-Canada Card.
  • Redeem your points for air travel, gift cards, merchandise, statement credits, dining, etc. The minimum redemption is only $10.
  • Get a 3-month complimentary DashPass subscription, valued at almost $30.
  • Includes Purchase Security and Extended Warranty Insurance.

Competitive purchase APR at 19.99%

Attractive point redemption options

No minimum income threshold

Limited insurance benefits

The conversion rate for points is not as enticing

The RBC ION Visa is an excellent choice if you are a student or newcomer looking to get approved for a credit card with little to no credit history. It has no annual fees, and the Avion points you earn are easy to redeem.

RBC ION+ Visa

Entry-level RBC credit card

Annual fee: $48

Welcome offer: Get 3,500 bonus Avion points following approval, and earn 3,500 bonus points when you spend $500 in the first 3 months.

Rewards: Earn 3x Avion points per $1 spent on groceries, rides, gas, streaming, subscriptions, digital gaming, and EV charging; 1 Avion point for every $1 spent on all other purchases.

Interest rates: 19.99% on purchases and 22.99% on cash advances.

Minimum income requirement: None

Recommended credit score:
660
900

Good or better

rbc ionplusvisacc-img

On RBC’s website

  • Earn 3 Avion points for every dollar you spend on groceries, rideshare, daily public transit, gas, streaming, subscriptions, and digital gaming.
  • Earn 1 Avion point for every dollar you spend on all other qualifying purchases.
  • Save 3¢/L on fuel purchased at Petro-Canada when you link your credit card to your Petro-Canada Card.
  • Redeem your points for air travel, gift cards, merchandise, statement credits, dining, etc. The minimum redemption is only $10.
  • Get a 3-month complimentary DashPass subscription, valued at almost $30.
  • Offers mobile device insurance and optional travel insurance coverage.
  • Includes Purchase Security and Extended Warranty Insurance.

Competitive purchase APR at 19.99%

Attractive point redemption options

No minimum income threshold

Limited insurance benefits

The conversion rate for points is not as enticing

The RBC ION+ Visa is a step up from the RBC ION Visa, with double the points on specific purchases. It is an excellent choice for students or newcomers looking to get approved for their first credit card in Canada.

RBC Rewards+ Visa Features and Benefits

$0 annual fee: This card does not charge an annual fee.

RBC Rewards points: Cardholders earn 1 RBC Rewards point for every $1 spent on gas, grocery, and drugstore purchases. On all other purchases, the earn rate is 1 point per $2 spent.

You can easily redeem RBC Rewards points for merchandise and popular gift cards like Amazon, Starbucks, Indigo, and Winners.

Save on gas: When you link your RBC credit card to your Petro-Points card, you save 3 cents per litre when you purchase gas at Petro-Canada gas stations.

Purchase security and extended warranty: Purchases made with your card are protected against theft, damage, or loss for up to 90 days. The RBC Rewards+ Visa card also doubles the manufacturer’s warranty for up to 1 extra year.

Other rewards: You can link your card to the Be Well card and earn points on eligible purchases at Rexall. Also, new cardholders can get a 3-month complimentary DashPass subscription for DoorDash orders.

Optional features: Cardholders can pay to access extra benefits like travel insurance, roadside assistance, identity theft and credit protection.

Interest rate: It has a 19.99% interest rate for purchases and 22.99% for cash advances.

Downsides of the RBC Rewards+ Visa

This card’s 1% cash back offer is limited to only gas, grocery, and drug store purchases. There are no-annual-fee credit cards offering a higher cash back rate.

It is also lacking in travel insurance coverage if this is a benefit you require.

RBC rewards+ Visa

RBC Rewards+ Visa vs. Other RBC Student Credit Cards

The RBC Cash Back Mastercard has no annual fees. It pays up to 2% cash back on groceries (maximum $6,000 spend) and 0.50% to 1% cash back on other purchases. Like the RBC Rewards+ Visa, this card is one of RBC’s entry-level credit cards.

You can also apply for one of two new RBC credit cards, the RBC ION Visa or the RBC ION+ Visa. Both cards offer easy-to-redeem Avion points.

 RBC Rewards+ VisaRBC ION VisaRBC Cash Back MastercardRBC ION+ Visa
Annual fee$0$0$0$48
Rewards1 point/$1 on gas, grocery, drugstore purchases; 1 point/$2 spent elsewhere1.5 points/$1 spent on gas, grocery, food delivery, streaming, digital gaming, and daily transit; 1 point/$1 spent elsewhereUp to 2% cash back on groceries ($6,000 annual cap), 1% back on other purchases ($6,000 annual cap); 0.50% back otherwise3 points/$1 spent on gas, grocery, food delivery, streaming, digital gaming, and daily transit; 1 point/$1 spent elsewhere
Purchase protection and extended warrantyYesYesYesYes
Travel benefitsNoNoNoNo
Mobile device insuranceNoNoNoYes

Alternative Cash Back Credit Cards

The following cash back credit cards do not have annual fees, and they are easy to qualify for.

Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card offers 2% unlimited cash back on 2-3 purchase categories. You can choose to earn the 2% rate on spending related to groceries, gas, restaurants, recurring bills, entertainment, public transit, and more.

All other purchases outside of the 2% categories you choose earn at a 0.50% rate.

This card includes purchase protection and extended warranty coverage, and new clients can take advantage of the 1.95% promotional balance transfer interest rate.

To qualify for this card, you need a $12,000 annual income and a credit score of 600 or higher.

Tangerine Money-Back Credit Card

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value); 1.95% balance transfer rate for 6 months.

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

Neo Financial Mastercard

The Neo Financial Mastercard offers up to 5% cash back at over 7,000 retailers (Neo partners) in Canada.

This no-annual-fee credit card also guarantees an overall 0.5% cash back across all purchases subject to maximum spending of $5,000 each month.

Learn more about its features in this Neo Credit Card review.

Neo Credit card

Rewards: Average of 5% cash back at 12,000+ partners and a guaranteed minimum of 0.50% cash back across all purchases

Welcome offer: Get up to 15% cash back on your first-time purchases, plus a $25 welcome cash bonus.

Interest rates: 19.99% – 29.99% on purchases; 22.99% – 31.99% for cash advances.

Annual fee: $0

RBC Rewards+ Visa FAQs

How much are 1,000 RBC Rewards points worth?

1,000 RBC Rewards points are worth at least $10 when redeemed for travel at a rate of 100 points = $1 CAD.

Can you convert RBC points to Aeroplan or other loyalty programs?

You can convert RBC Rewards points to Avios, Asia Miles, AAdvantages miles, or WestJet dollars.

Does RBC rewards+ Visa provide car rental insurance?

No, the RBC Rewards+ Visa Card does not offer car rental insurance as part of its free perks.

Best Credit Offers in May 2024

Get the top savings and spending account and stop paying costly bank fees ($20 Bonus)

Save on fees and access unlimited transactions, eTransfers & bill payments.

Get a $20 instant bonus after completing your first purchase.

Earn up to 5% unlimited cash back and up to 5% interest on your balance.

Guaranteed instant approval with any credit score + free budgeting app.

Get this guaranteed approval credit card for any credit score ($25 bonus)

Get an instant $25 welcome bonus.

Earn 5% unlimited average cash back at thousands of locations.

Guaranteed approval for poor and bad credit scores. Takes 3 minutes.

No monthly fees and up to 15% cashback on your first-time purchases.

Stop paying monthly fees with a free chequing account + $400 bonus

Get a $400 cash bonus when you set up a qualifying direct deposit.

Unlimited debits, online bill payments and Interac e-Transfer transactions.

No monthly or annual account fees.

Earn a high interest rate on your savings (6.00% interest rate offer).

Author

Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

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