RBC Avion Visa Card

[Synthetic]

Hello,

I just wanted to get some feedback on how easy/difficult it is to get approved for this card. Royal Bank's website mentions no required annual income, but I assume it's $35,000?

I saw the new promo and was interested in applying. But someone told me RBC us usually stricter on making approvals and this seems to be their premium card offering. One of my relatives applied for their gold card with an income of $42k and got declined, and I don't think their credit is terribly bad or anything. So I'm just curious at how they're usually like..

thanks guys

[st7860]

here's the approximate order of easiest to hardest


1. MBNA & Capital One
2. TD bank and CIBC
3. Presidents Choice Financial
4. American Express
5. HSBC, royal bank, bank of montreal

NOTE: exception , if your credit is totally blank(newly turned 19 years old or newly immigrated to Canada, MBNA will turn you down, but TD bank and CIBC will give a card to nearly anyone thats 'blank', as long as you have a job.

[chimaera15]

When applying for a credit card they don't just look at your credit history and income. A major factor that will determine whether you're approved or not is your debt to asset ratio. If you have car payments, mortage payments, rent payments, credit card balances e.t.c. and your income is barely enough to cover it obviously your chances of getting approved are minimal considering the Avion comes with a minimum 5k limit...

Banks also look at how profitable you are to them. So if you're an RBC client for example and have been for several years, always maintain a balance of over $1k in your account, you could get approved even if your salary is not over $35k.

[plucky duck]

With two jobs clearing slightly above $30k, and years of consistent payments, having never missed a payment or late payment, even with a slightly higher TDS ratio I was able to get the Avion card.

For increases, they do consider both payment schedule and TDS. I beleive they place more weight on payment habits and date of last max balance. Payment habits reflect directly on how you'll be able to manage this particular expense in the short term and how profitable you are to them.

[adamtheman]

I just got approved for the RBC Avion with a $5,000 limit. I've got an annual income of $55,000. I'm only 21 though, but I've had a VISA card with RBC for 1.5 years now and have charged over $16,000 with them in that time and paid it all off, no late fees ever. So they approved me.

[john widow]

When applying for a credit card they don't just look at your credit history and income. A major factor that will determine whether you're approved or not is your debt to asset ratio. If you have car payments, mortage payments, rent payments, credit card balances e.t.c. and your income is barely enough to cover it obviously your chances of getting approved are minimal considering the Avion comes with a minimum 5k limit...

Banks also look at how profitable you are to them. So if you're an RBC client for example and have been for several years, always maintain a balance of over $1k in your account, you could get approved even if your salary is not over $35k.

How do they find out if you have car payments, cell phone bill payments, etc...do they look at your debit bank history too?

[tkyoshi]

Car payments, mortgages and stuff will show up as credit (I believe as "Installments" instead of "Revolving") in your credit history.

For bill payments they don't show up unless you have defaulted many times or a collections agency has been sent after you.

[philelmo]

if you don't qualify then send you a classic card, without notification, which sucks

[thesk8man]

i got avion with 10,000 credit so does my sis.

rbc bank uses their internal data more than checking credit.

for examply i had their classic for one year but in that year i never paid a single dollar in interest cuz my payments were on time. so i called them to increase my limit. they increased it to 2,500 then i called them again after six months they increased it to 5,000. same thing again after six months and they offered me avion with 10,000 now when i'll call them for increase they'll probaby do 15,000 or 20,000. my sister did the same thing.

to me i rather have one card with high credit limit on it. instead of having 10 x $1,000 cards. that way i can monitor it and my chance of missing a payment is slim. hope this helps.

[st7860]

Car payments, mortgages and stuff will show up as credit (I believe as "Installments" instead of "Revolving") in your credit history.

For bill payments they don't show up unless you have defaulted many times or a collections agency has been sent after you.

the one exception is that Rogers Wireless reports as a monthly account now.

[IceMan77]

I just got approved for the RBC Avion with a $5,000 limit. I've got an annual income of $55,000. I'm only 21 though, but I've had a VISA card with RBC for 1.5 years now and have charged over $16,000 with them in that time and paid it all off, no late fees ever. So they approved me.

Making 55k at 21. Adam you the man! :D

[yjxiao]

I've heard somewhere that you can get the fees waived on this credit card. Any truths to that?

[ctc027]

I sign up for a esso/RBC CC 2 years ago and use it to buy gas only and within that 2 yrs RBC raised my limit to $7800. When I decided to apply for Avion card, I just call in and the CSR went through my payment history which I paid ontime every month and since I have a $7800 limit she convert my CC over without any hassle. I make less then 35K.