The RBC Avion Visa Business credit card belongs to a category of financial instruments that may be defined as business travel rewards cards developed for successful businessmen who seek to turn their daily expenses into extra bonuses.
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Whether it be a strong desire to make investments in the business, a decision to motivate employees or desire to receive more private benefits of the high-quality rewards program, RBC Avion Visa Business card will suit your business requirements.
Key information about the RBC Avion Visa Business
Some of the features of the RBC Avion Visa Business credit card are as follows; Accepted card types are those that have an annual fee of $120, with $50 for an additional card. Purchase interest rate has been put at 19%. The gross profitability is 82%, operating profitability is 99%, and the cash advance rate is 22. 99%.
How does the annual fee work?
The RBC Avion Visa Business card attracts an annual fee of $120 which is billed on a yearly basis. This fee is reasonable given the extensive reward program which is offered with the card and the insurance benefits that come with the card. Supplementary card can be requested for the employees at $50 per card so that businesses can extend use of the card to other personnel.
How is the credit limit determined?
The credit limit that is assigned to the RBC Avion Visa Business card depends on the credit worthiness of the business and other factors such as annual revenues. The credit limits offered by RBC are strictly assessed unique for every application given in order to cater for the need of the business. For the prepaid cards, the limit is based on the amount of money the business owner deposits to create the account which allows the business owner complete control of the account limit.
Credit card benefits
- Reward points on every purchase: Earn 1 Avion point for every $1 spent on net purchases, allowing businesses to accumulate points quickly.
- Welcome bonus: Receive 35,000 Avion points upon enrollment, giving your business a head start on rewards.
- Flexible redemption options: Points can be redeemed for travel, merchandise, gift cards, or even to pay down your balance.
- Fuel savings: Link your card to Petro-Canada and save 3¢/L on fuel, while also earning 20% more Petro-Points and Avion points.
- Extensive insurance coverage: Enjoy liability waiver insurance, purchase security, extended warranty, fraud prevention, and more.
- Employee card management: Pool points from all employee cards into one account, simplifying rewards management.
Avion rewards program
Avion Rewards is the main offering of the RBC Avion Visa Business card, which offers different options for rewards. This program also boasts of flexibility as business can use points to get a number of things as listed below. Any flight, on any airline, at any time of the Air Travel Redemption Schedule is another advantage, much beneficial for the business world engaged in regular and frequently changes flying.
Disadvantages
- Annual fee: The $120 annual fee may be a deterrent for some businesses, especially smaller ones with tighter budgets.
- No fee waiver: There is no option to waive the annual fee, even with significant spending.
- High cash advance rate: The 22.99% cash advance rate is relatively high, making it costly to withdraw cash using the card.
High cash advance rate
Indeed they have a remarkably high cash advance rate of 22. The principal weakness of the RBC Avion Visa Business card is that you earn 99% of the base points for your spending category. For companies that may require periodic withdrawal of the cash, this rate might shoot up and hence is not an efficient one. This is a costly method of financing for business owners and business people should be aware of this so that they embrace other better methods of sourcing for cash.
Who can apply for this card?
To qualify for the RBC Avion Visa Business card, business owners must meet some prerequisites. Those interested are required to be the owner or the authorized person of a registered business and willing to show a proof of ownership. There is no minimum income requirement stated but the financial situation of the business will be taken into consideration, concerning the application.
Another requirement is the credit history since this shall significantly determine the outcome of the application. The card is not for business with bad credit history, thus business with good credit history will be most likely to be approved for the card.
How to apply for the RBC Avion Visa Business
Through the website
It is possible to apply for the RBC Avion Visa Business card through regular mail, however online application is the easiest. To start the process of application, go to the webpage dedicated to the RBC Business Credit Cards and choose the Avion Visa Business card. To access the program, the user will be required to log in to their RBC business account if they have one or create one if they do not.
After reaching the login page, there would be an opportunity to complete an online application form where personal data and information about the business to be registered would be entered including the business legal name, registration number and business financial information.
Upon submission of the application, RBC will go through your information in details and identify whether your business is approved for the card. In the unlikely event that your application is approved, your card will be mailed to you within few business days.
Therefore, whether for reward points, travel, insurance coverages, free additional cards or simply to have a reliable back up in case one’s preferred bank’s credit card is declined, it is efficient to consider having the RBC Avion Visa Business credit card.
Thanks to its flexibility, security and convenience, this card may assist the businesses in better management of expenses with a bit of added possibility to receive rewarding in the process. Nevertheless, costs of borrowing include the high cash advance rate and the failure of the company to offer fee waivers. All in all, RBC Avion Visa Business credit card is a great choice for business owners who make many purchases with credit cards and would like to get the greatest return.
