The Signature RBC Rewards Visa is one of RBC’s entry-level credit cards and a low-fee credit card option for students.
With its $39 annual fee, you get travel insurance perks that are not offered by the three other RBC cards in the ‘student’ category, i.e. RBC Cash Back Mastercard, RBC ION+ Visa, and RBC ION Visa.
This Signature RBC Rewards Visa review covers its benefits, downsides, and alternatives.
The Signature RBC Rewards Visa and RBC Rewards+ Visa cards are no longer accepting applications. You can apply for the RBC ION Visa or RBC ION+ Visa cards instead (see details below).
Signature RBC Rewards Visa Alternatives
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:
Good or better
On RBC’s website
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:
Good or better
On RBC’s website
Signature RBC Rewards Visa Features and Benefits
$39 annual fee: This card has a $39 annual fee which is waived if you are a student or an RBC Signature No Limit Banking client.
Rewards: Cardholders earn 1 RBC point for every $1 spent on purchases.
Save on fuel at Petro-Canada: When you link your credit card to your Petro points card, you save 3 cents per litre on gas purchased at Petro-Canada locations.
Maximize rewards at Rexall: You can link the signature RBC Rewards Visa to a Be Well card and earn 50 Be Well points for every $1 spent on eligible products at Rexall.
Travel insurance: This card includes travel accident insurance and car rental insurance.
Free DashPass subscription: New cardholders get a 3-month complimentary DashPass subscription. This means you pay $0 delivery fees on DoorDash orders of $12 or more when you pay with your RBC credit card.
Optional features: You can pay extra to access features like RBC Road Assist, Balance Protector Insurance, and comprehensive travel insurance benefits.
Interest rates: This card has a 19.99% interest rate for purchases and 22.99% for cash advances.
Signature RBC Rewards Visa Insurance
This card offers:
- Travel accident insurance
- Auto rental collision/loss damage insurance
- Purchase security insurance
- Extended warranty insurance
Downsides of the Signature RBC Rewards Visa
There are no-annual-fee cash back credit cards that offer more than 1% back on all purchases, such as the SimplyCash Card from American Express.
To waive the annual fee, you must either be a post-secondary student, or you need to have an RBC Signature No Limit Bank account that has a $15.95 monthly fee.
How To Redeem RBC Rewards Points
You can redeem RBC Rewards points for:
Travel rewards: Book flights, hotels, car rentals, and vacation packages.
Merchandise: Purchase thousands of products online, including electronics, kitchen appliances, fashion, and more.
Gift cards: Exchange your points for gift cards from 100+ brands
Financial rewards: Use your points to contribute to investment accounts or to pay down your loans.
Statement balance: Pay down your credit card balance with points or use them to pay for your bills.
Charitable donations: You can use RBC Rewards points to make a charitable donation.
Signature RBC Rewards Visa vs. RBC ION+ Visa vs RBC ION Visa
The RBC ION+ Visa Card has a $48 annual fee, while the RBC ION Visa has no annual fee. Here is how they compare:
| Signature RBC Rewards Visa | RBC ION+ Visa | RBC ION Visa | |
| Annual fee | $39 | $48 | $0 |
| Rewards | 1 point/$1 spent on all purchases | 3 points/$1 spent on gas, grocery, food delivery, streaming, digital gaming, and daily transit; 1 point/$1 spent elsewhere | 1.5 points/$1 spent on gas, grocery, food delivery, streaming, digital gaming, and daily transit; 1 point/$1 spent elsewhere |
| Travel benefits | Yes (travel accident and rental car insurance) | No | No |
| Purchase protection & extended warranty | Yes | Yes | Yes |
| Mobile device insurance | No | Yes | No |
Alternative Cash Back Credit Cards
The cash back credit cards below offer a decent cash back rate with no- or low-annual fees.
Scotiabank Momentum Visa Card
The Scotiabank Momentum Visa has a $39 annual fee and offers 2% cash back per $1 spent on gas, grocery, drugstore purchases, and recurring bill payments. It also pays 1% cash back on all other purchases.
Cardholders can save up to 25% on car rentals at AVIS and Budget locations.
This card includes standard purchase protection and extended warranty insurance coverage for insurance benefits.
Current offers: Get a 0.00% introductory rate on balance transfers for the first six months.
Get more details in our detailed Scotiabank Momentum Visa review.
Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card is the top no-annual-fee cash back card in Canada.
It offers 2% unlimited cash back in two purchase categories (you can choose from 10 spending categories), and 0.50% cash back on all other spending.
In addition, new cardholders can transfer balances at a low rate of 1.95% for six months.
Current offer: Earn 10% cash back on up to $1,000 spent in your first two months ($100 value).
You can get more details about this Tangerine card in our full review.
FAQs
RBC Rewards points expire three years after earning them.
The Signature RBC Rewards Visa does not have a minimum income requirement. To apply, you must be a Canadian resident and the age of the majority in your province or territory of residence.
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Thanks for your summary. I have a signature rewards card. I would like to keep it because of the insurance on car rental. Would I be forced to choose another card or can I continue to use it?
Thanks
@Bennet: Unfortunately, I don’t know what will happen with the card. We are in the same boat.