So what can you do? First you need to change your spending habits, many Canadians spend upwards of $3 for every $1 they make! That simply needs to change and if you are ready to change you need help. So taking advantage of a low interest offer is something we have always mentioned when talking about debt, whether its a consolidation loan or a credit card with a low interest rate. In the past this normally meant cutting up your premium rewards card and going to a card that didn't reward you but saved you a lot of money. Now with this latest offer with the RBC Visa Infinite Avion you can have the best of both worlds, well at least for 10 months, which for some may be enough time to get you out of that credit card debt. Think about would you rather continue at 19 or 20% interest for 10 months or be able to pay only 1.9% interest? And potentially get a short haul flight out of it as well for only $120. That is what the Infinite Avion is offering. It has its standard sign up bonus of 15,000 RBC Rewards Points which can be used towards a short haul flight with the Avion Air Travel Redemption schedule, it has premium insurance benefits but it does have the $120 annual fee.
What you need to figure out now, is it worthwhile for me to switch to this card to save 18+ percent in interest for $120 but also get a flight out of it? Or you can even redeem those RBC Rewards Points with Payback with Points as a cash back redemption for a $150 statement credit. If you do that, you are $30 ahead and only paying 1.9% interest on any balances you transfer over. Then focus on paying off that balance for the next 10 months rather than earning lots of points. When you have the balance paid off, you are holding one of the top 5 credit cards in Canada and you can start building that points balance up for future travel!
You can find out more about this offer and apply for the RBC Visa Infinite Avion here.
- RBC Visa Infinite Avion
Ability to book flights with any airline with no blackout periods, extremely useful when there are no seat sales
- Up to a 2.3% return on your spending depending on which reward ticket you book
- Option to transfer RBC Rewards Points to WestJet Rewards, British Airways Executive Club, American AAdvantage, Cathay Pacific Asia Miles. Look for the transfer bonus to BA several times per year!
- A complete suite of insurance coverage and benefits
- Unwritten ability to redeem for Business Class tickets although at a lower rate of return when compared to the Avion Reward chart