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 up to 7,000 Avion points^ – that’s up to $50 of value in gift cards!† Get 3,500 Welcome Points and earn 3,500 bonus points when you spend $500 in your 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: 20.99% 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 Avion points on approval^ – that’s a $25 value in gift cards†.
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: 20.99% 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.
EQ Bank Mastercard
EQ Bank Card
Rewards: Earn 0.50% cash back on all purchases and up to 3.50% savings interest on your entire balance.
Perks: Free ATM transactions in Canada, no foreign currency transaction fees abroad, and unlimited transactions.
Interest rate fee: 0%
Annual fee: $0
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.
Related:
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.