The RBC Avion Visa Business card is a powerful financial tool designed to help business owners manage their expenses efficiently while reaping significant rewards. This card, offered by the Royal Bank of Canada (RBC), is tailored for businesses seeking flexibility in redeeming rewards for travel, merchandise, gift cards, or even as a way to pay down their balance.

With an attractive rewards program and a suite of premium insurance coverages, the RBC Avion Visa Business card stands out in the competitive landscape of business credit cards. It provides numerous benefits that cater specifically to the needs of business owners, making it a valuable addition to any business’s financial toolkit.

Key information about the credit card

How does the annual fee work?

The RBC Avion Visa Business card comes with an annual fee of $120. This fee is charged once a year and covers the primary cardholder. If your business requires additional cards for employees, there is an additional fee of $50 per card. Unfortunately, there is no option to waive the annual fee, but the benefits and rewards that come with the card can offset this cost.

How is the credit limit determined?

The credit limit for the RBC Avion Visa Business card is determined based on a thorough assessment of the business’s financial health and creditworthiness. RBC evaluates factors such as the business’s revenue, credit history, and overall financial stability. This process ensures that the assigned credit limit aligns with the business’s ability to manage and repay its credit.

Advantages of the credit card

• Avion points earning: Earn 1 Avion point for every $1 spent on net purchases. This allows businesses to accumulate points quickly and redeem them for various rewards.

• Welcome bonus: Receive 35,000 Welcome Avion points upon enrollment, giving a substantial boost to your rewards balance from the start.

• Flexible redemption options: Redeem points for travel, merchandise, gift cards, or to pay down your balance. The flexibility in redemption makes it easy to use points in a way that benefits the business the most.

• Fuel savings: Link your card to save 3¢ per liter on fuel at Petro-Canada and earn 20% more Petro-Points and Avion points.

• Premium insurance coverage: Enjoy extensive insurance coverage, including liability waiver, purchase security, and extended warranty.

Standout advantage

One standout advantage of the RBC Avion Visa Business card is the ability to pool points across multiple cards and even combine them with personal Avion points. This feature allows business owners to maximize their rewards by consolidating points earned from business expenses and personal spending, accelerating the accumulation of points and enhancing the potential for significant redemptions.

Disadvantages

• Annual fee: The $120 annual fee may be a deterrent for some businesses, particularly smaller ones or startups.

• Additional card fee: The cost of $50 per additional card can add up if multiple employees need cards.

• High interest rates: The purchase rate of 19.99% and cash advance rate of 22.99% are relatively high compared to some other business credit cards.

• Limited fee waiver options: There is no provision for waiving the annual fee based on spending or other criteria.

A standout disadvantage

The primary disadvantage of the RBC Avion Visa Business card is its high interest rates. With a purchase rate of 19.99% and a cash advance rate of 22.99%, carrying a balance can become expensive quickly. This is particularly concerning for businesses that may have variable cash flows and occasionally need to carry a balance.

Who can apply for this card?

To apply for the RBC Avion Visa Business card, applicants must meet several criteria. The business owner should be of legal age in their province or territory of residence, typically 18 or 19 years old. A good credit history is essential, as RBC conducts a thorough credit check to assess creditworthiness.

While there is no strict income requirement specified, demonstrating stable and sufficient business revenue will increase the likelihood of approval. Unfortunately, this card is not available to those with a poor credit history or who are currently bankrupt.

How to apply for the RBC Avion Visa Business Card

For the website

To apply online, visit the RBC website and navigate to the business credit cards section. Locate the RBC Avion Visa Business card and click on the ‘apply now’ button. You will be directed to an online application form where you will need to fill in personal and business information. This includes details such as your business name, type of business, annual revenue, and tax identification number.

You will also need to provide your personal details, including name, address, and social insurance number for the credit check. Once the form is complete, review it for accuracy before submitting. The online application process is designed to be quick and user-friendly, allowing you to complete it in about 15-20 minutes.

Through the app

If you prefer applying through a mobile device, the RBC mobile app offers a convenient way to do so. First, download and install the RBC mobile app from your device’s app store. Once installed, sign in with your RBC business account or create one if you do not have it. Navigate to the credit cards section and select the RBC Avion Visa Business card.

The application process is similar to the online method, requiring you to enter both personal and business details. The app also allows you to securely upload any necessary documents directly from your device, making it easy to provide the required information. Applying through the app is efficient, with the added benefit of managing your credit card and banking needs all in one place.

At the branch

For those who prefer a more personal touch, you can apply for the RBC Avion Visa Business card by visiting an RBC branch. Start by finding a branch near you using the RBC website’s branch locator tool. Once at the branch, request to speak with a business banking specialist.

The specialist will guide you through the application process, helping you fill out the necessary forms and answering any questions you may have. This method allows for face-to-face interaction, providing an opportunity to discuss your business needs in detail and receive tailored advice. Bringing all required documents, such as business financial statements and personal identification, will help expedite the application process.