What the Card Offers
RBC markets the ION Visa as a no-fee way to earn Avion points: 1.5 points per $1 on groceries, gas, EV charging, transit, rideshare and streaming, and a welcome bonus worth up to $100 in gift cards.
- $0
No annual fee1
No annual fee for the card or additional cards.
- 1.5x
Points on everyday categories2
1.5 Avion points per $1 on groceries, gas, EV charging, transit, rideshare, streaming and digital gaming.
- 1,400
Points for a $10 gift card2
Start redeeming at 1,400 points for most $10 gift cards.
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- 14,000
Welcome bonus points2
7,000 on approval and 7,000 after $500 in 3 months; up to $100 in gift cards.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (2)
- RBC ION Visa product page (retrieved 2026-10-13)
- RBC ION Visa product page legal disclaimers (retrieved 2026-10-13)
Points & Redemption
Show 2 more options (statement credit, travel)Show fewer
Rates: Avion Rewards Terms and Conditions 128366 (06/2026), ss. 13 and 19; RBC ION and ION+ product page legal disclaimers and FAQ (retrieved 2026-10-13). The CardTruth estimate is our own valuation, not a rate stated in the terms. The program states no fixed cash value, so what a point is worth depends on how you redeem it. Ranges marked est. are CardTruth estimates, from a conservative redemption to a typical one.
The Fine Print Report
Light fine print. Few catches, but modest value.
1.5x ≈ 1% back at gift-card valueImpact level: Medium
Points are worth about 0.7¢ as gift cards, so 1.5x is about 1% back
At RBC's example rate of 1,400 points for a $10 gift card (about 0.71¢ per point), 1.5x returns roughly 1% and the base rate about 0.7%. Dining isn't a bonus category.
Why it matters: Comparable to a basic no-fee cash back card, with more redemption steps.
2.5% FX markup; refunds won't fully reverseImpact level: Medium
Foreign currency purchases are converted at 2.5% over the benchmark rate, and refunds won't fully reverse
Purchases in a foreign currency are converted to Canadian dollars at 2.5% over the benchmark exchange rate; some are converted to U.S. dollars first. If you carry a balance, interest is charged on the full converted amount. If a foreign purchase is refunded, the agreement says the charge and credit won't exactly balance because of the exchange rate.
Why it matters: Every $1,000 spent abroad or online in foreign currency costs about $25 in conversion markup.
2 missed payments: higher rates for a yearImpact level: Medium
Two missed payments in 12 months raise your rates until you pay on time for 12 straight months
If your minimum payment isn't made by the due date and still isn't paid by your next statement date, twice in any 12-month period, RBC raises your purchase and cash advance rates to the higher rates in your Information Box. The higher rates apply to new transactions and all remaining balances until you make 12 consecutive on-time minimum payments.
Why it matters: Carrying a balance becomes more expensive for at least a year. Automatic minimum payments prevent it.
Points lost if RBC closes it for causeImpact level: Medium
Points are cancelled immediately if RBC closes the account for cause, including falling behind on payments
If you close the card, you have 12 months to redeem or convert your Avion points. If RBC closes it for cause, which includes the account not being in good standing (more than two statement periods past due), fraud or bankruptcy, the points are cancelled immediately or converted to a cash value at RBC's choice.
Why it matters: Redeem points regularly rather than letting a large balance build, especially before closing or switching cards.
RBC can debit your other accountsImpact level: Medium
RBC can take what you owe from your other RBC accounts without telling you first
If you don't meet the agreement's payment terms, RBC can deduct amounts owing on the card from any other account you have with RBC and apply them to the card, without notice in advance.
Why it matters: If your chequing account is also at RBC, a missed card payment can lead to a withdrawal you didn't schedule.
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Purchase protection onlyImpact level: Low
Purchase protection only; no mobile or travel insurance
The ION Visa's only coverage is purchase security and extended warranty.
Why it matters: Choose ION+ if you want phone insurance.
Bonus rate depends on merchant codesImpact level: Low
Bonus categories depend on how the merchant is coded; warehouse clubs and big-box stores usually don't count as groceries
Bonus earn rates apply only to merchants classified under specific Merchant Category Codes. Stores that sell groceries but aren't coded as grocery stores, such as warehouse clubs and many big-box retailers, earn the base rate, as do merchants located inside a grocery store.
Why it matters: Check where you actually shop before counting on the bonus rate.
Who This Card Is For
Great fit if you...
- Want a no-fee card with points
- Spend on groceries, gas and streaming
- Are building credit
- Redeem for gift cards
- Want a simple welcome bonus ($500 spend)
Consider alternatives if you...
- Spend heavily on dining
- Want travel or phone insurance
- Want flight redemptions at high value
- Prefer straightforward cash back
- Make many foreign-currency purchases
Welcome Bonus History
RBC ION Welcome Bonus History
The Verdict
The ION Visa is a simple no-fee points card with an easy welcome bonus.
At about 0.7¢ per point, its return is close to a basic cash back card, and it has no insurance beyond purchase protection.
The Recommendation: Fine as a first or no-fee card. If you spend $150 or more a month in the bonus categories, the ION+ usually earns back its $48 fee.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of October 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer