Introducing RBC ION Visa and RBC ION+ Visa: New everyday credit cards accelerate earning power for Canadians

No annual fee and low annual fee cards offer up to 3x Avion points on purchases across popular everyday spending categories.

Today, Royal Bank of Canada (RBC) announced the launch of RBC ION Visa and RBC ION+ Visa, two new credit cards that enable Canadians to accelerate their Avion points earnings in popular, everyday spending categories, including gas and groceries, as well as EV charging, daily public transit, streaming services, and more. Powered by Avion Rewards – Canada’s largest proprietary loyalty program – RBC ION and ION+ Visa cardholders will also become Avion Premium members, gaining access to exclusive cash back savings and offers.

“We’re excited to deliver two powerful new products that reward more Canadians for their everyday purchases in some of the most popular spending categories,” said Sean Amato- Gauci, Executive Vice-President, Cards, Payments & Banking, RBC. “The accelerated earning power of the RBC ION and ION+ cards is complemented by best-in-class rewards and redemption opportunities that cardholders will have access to as members of the new Avion Rewards program. By powering the new cards with the benefits of Avion Rewards, we’re committed to maximizing the value we deliver to consumers and rewarding them in ways that matter most to them.”

More everyday value with no annual fee and low annual fee cards

RBC ION and ION+ Visa cardholders will experience value through the following ways:

RBC ION Visa

• Cardholders will earn 1.5x Avion points for every dollar spent on:
  • Grocery
  • Rides (daily public transit and rideshare), gas & EV charging
  • Streaming, digital gaming & subscriptions
• Cardholders will earn one Avion point for every dollar spent on all other purchases.
• New cardholders will receive 6,000 welcome points if they sign up for this card by November 30, 2022, and are approved.
• This is a no annual fee credit card.

RBC ION+ Visa

• Cardholders will earn 3x Avion points for every dollar spent on:
  • Grocery, dining & food delivery
  • Rides (daily public transit and rideshare), gas & EV charging
  • Streaming, digital gaming & subscriptions
• Cardholders will earn one Avion point for every dollar spent on all other purchases.
• New cardholders will receive 12,000 welcome points if they sign up for this card by November 30, 2022, and are approved.
• The card will have a low monthly fee of $4 per month (annual fee of $48), which will be rebated if the cardholder also has an eligible RBC bank account.

In addition to these benefits, when RBC ION or ION+ Visa cardholders link their Petro-Points card with their RBC ION or ION+ Visa credit card, they will save 3¢/L every time they fill up on gas at retail Petro-Canada locations. They will also earn 20 per cent more Avion points and Petro-Points than they normally earn on qualifying purchases at retail Petro-Canada locations when using their linked RBC ION or ION+ Visa credit card.

“Visa is proud to collaborate with RBC on the launch of these two new products,” said Stacey Madge, president and country manager, Visa Canada. “Today, consumers want a credit card that matches their lifestyle. This collaboration reflects the way we are working together to offer cardholders a seamless payments experience with more value and choice when they pay.”

Experience the unmatched value, flexibility and choice of Avion Rewards

The RBC ION and ION+ Visa credit cards are powered by Avion Rewards and cardholders will become members at the Avion Premium level. They will enjoy access to best-in-class cash back savings and offers from more than 1,900 retail partners as well as discover more ways to earn, redeem and pay with Avion points – all within one convenient loyalty program.

To learn more about the RBC ION and ION+ Visa credit cards, visit www.rbc.com/ioncards. To learn more about Avion Rewards, visit www.avionrewards.com.

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 92,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

SOURCE RBC Royal Bank

For further information: Julia Miller, RBC Corporate Communications, julia.d.miller@rbc.com.