The writing was on the wall when it was announced that Neo would be launching a Cathay Pacific credit card in the fall of 2023. In a statement provided directly by RBC, the partnership with Canada's biggest bank and Cathay Pacific has come to a close.
The RBC Cathay Pacific Visa Platinum will no longer be offered from September 29, 2023, and any existing cardholders will be migrated to other credit cards (with a bonus in travel points tacked on for loyalty).
What are all the details surrounding this big change? What cards will be the default option? We'll keep you up to date with all the latest developments in the moments to come.
Key Takeaways
- RBC and Cathay Pacific are ending their partnership.
- The RBC Cathay Pacific Visa Platinum will be discontinued on September 29, 2023.
- If you migrate over to the RBC Avion Visa Platinum, you'll earn 20,000 bonus points.
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The fate of the RBC Cathay Pacific credit card
From September 29, 2023, the RBC Cathay Pacific Visa Platinum will cease to be offered to customers. For those who already own the card, they will be migrated to the RBC Visa Platinum Avion.
The most important thing to note about this switch is that those who migrate over will earn 20,000 bonus Avion points, added directly to their new card's balance.
Those who don't want to move to that card have the option to opt out by either cancelling or switching to another RBC credit card.
Comparing the RBC Cathay Pacific Visa Platinum and the RBC Visa Platinum Avion
To see how this affects those who want to change, we'll do a simple side-by-side comparison of the two cards:
| RBC Cathay Pacific Visa Platinum | RBC Visa Platinum Avion | |
|---|---|---|
| Welcome bonus | Up to 40,000 bonus points (worth up to $800) | 55,000 bonus points (terms) (worth up to $1,282) |
| Average earn rate | 0% | 2.33% |
| Earn rate structure | * 2 miles per $1 spent at cathaypacific.com * 1.25 miles per $1 spent on foreign exchange purchases * 1 mile per $1 spent on all other purchases |
* 1 point per $1 spent on all purchases |
| Types of insurance coverage | 9 types | 10 types |
| Annual fee | $120 | $120 |
If we look at the average earn rate, you'll be better off since the value of points is higher with the Avion card, and you'll be able to redeem them on Cathay Pacific if you choose (though you lose a little bit of value there).
All in all, it's not a terrible thing to switch over, and that bonus 20,000 Avion points is a nice bonus to have, especially if you wish to continue with RBC and keep most of your banking the same.
Alternatives to the RBC Visa Platinum Avion
Not interested in the RBC offer? Here are some other travel credit cards you may want to consider (remember, these will not grant you the 20,000 bonus Avion points).
We'll stick with non-RBC cards for this analysis. If you want to compare an RBC option, as well as some other strong offers not mentioned here, check out our travel credit card rankings for more than plenty of the information you'd need to decide.
The best travel credit card (and best credit card overall in Canada)
×8 Award winner 
$100 GeniusCash + Earn up to 15,000 Welcome Bonus Membership Rewards® Points.*
GC: $100
8x Award winner We're just going to put this out here almost by default since objectively, the American Express Cobalt Card is the best travel option in terms of rewards.
The biggest thing is that each Amex point is worth up to 2 cents (if transferred to Air Canada), and it has a potential for sky-high earn rates.
Here's the quick list:
- 5 points per $1 spent on eligible groceries and restaurants (up to $2,500 spent per month)
- 3 points per $1 spent on eligible streaming services
- 2 points per $1 spent on eligible gas, transit, and ride share purchases
- 1 point per $1 spent on foreign currency purchases
- 1 point per $1 spent on all other purchases
Do the math, and if you play your cards right, you could be earning 10% back if you spend and redeem flawlessly. You'll also earn a nice welcome bonus in the first year, with 15,000 points coming your way after spending $750 every month for the first year, as well as 10 types of insurance.
As with the RBC Cathay Pacific Visa Platinum and the RBC Visa Platinum Avion, there are no income requirements, but there is an annual fee of $191.88, a hair more than the $120 that the other 2 cards offer.
A no fee alternative
If you had an RBC Cathay Pacific Visa Platinum to begin with, you probably were fine with paying the annual fee, but just so we can present you with a more well-rounded list of options, you can also look into the American Express Green Card. In essence, it's a pared-down version of the American Express Cobalt Card, offering 1 point per $1 spent on all purchases and a smaller welcome bonus valued at only 10,000 points.
But still, the fact remains that you can convert those points the exact same way as its "big brother" with the annual fee, so if you don't spend enough to justify paying an extra $191.88, this is definitely the way to go.
Beat the foreign exchange fees
×1 Award winner GC: $100
1x Award winner With the same annual fee as the RBC Cathay Pacific Visa Platinum, you won't have to pay any foreign exchange fees.
Similar to the American Express Cobalt Card, you'll see some high earn rates:
- 6 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more
- 5 Scene+ points per $1 spent on groceries, dining, and entertainment
- 3 Scene+ points per $1 spent on gas, select streaming services, and transit
- 1 Scene+ point per $1 spent on foreign currency purchases
- 1 Scene+ point per $1 spent on all other purchases
The difference here, though, is that the points aren't worth as much (1 cent per point vs. 2 for the Cobalt). But it can still be worth it since these points are more flexible.
You have 4 different options to redeem that all earn the highest possible return:
So maybe travel isn't really in the cards due to personal constraints, a second worldwide pandemic, or your company only giving you 2 days off per year – you can still really stretch your rewards far, giving you much more flexibility.
As a little extra bonus, you'll get 12 types of insurance.
And actually, one more bonus on our side too – you'll earn $100 in GeniusCash on approval, which definitely doesn't hurt.
A non-Amex option that also doesn't charge foreign exchange fees
GC: $100
So far, we've only listed American Express credit cards, but we know there are always fears of the card not being accepted. A similar card that I have experience with that's still a good option (with some other perks as well) is the Scotiabank Passport Visa Infinite Card.
First, the earn rates are a little lower:
- 3 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more
- 2 Scene+ points per $1 spent on groceries, restaurants, entertainment, and daily transit
- 1 Scene+ point per $1 on all other purchases
But there's one place where it can catch up.
One nice thing I've experienced from this card is the airport lounge access. You get 6 free passes per year, which lets you relax and unwind with some free food and comfy chairs away from all the riff-raff of the boarding gate.
Seeing as each visit normally costs US$32 per entry, and you get 6 "golden tickets," you can easily make back the increase in the annual fee with just 1 trip to the lounge.
Neo Financial's Asia Miles card – a quick summary
We have an idea of what the new Neo Financial and Cathay Pacific partnership will look like, seeing as the Neo x Cathay webpage goes over some of the details of the new card that will be launched some time in the fall of 2023.
We went over the details of what we know and what questions we had in our other article, but as a quick summary, here are the details.
- You'll earn 1 Asia Mile per $1 spent, with double the earnings on Cathay Pacific flights and purchases made outside of Canada.
- There is a nice welcome bonus of 45,000 Asia Miles (15,000 if approved, with 30,000 more if you spend over $3,000 in the first 3 months).
- Some travel insurance (emergency medical, trip cancellation, and lost luggage are what they mention for now).
- Airport lounge access (no details yet on whether there are any free passes).
- Free WiFi, both in the air and in hotspots on the ground.
To get this, you'll need to meet the income requirements of a World Elite Mastercard, meaning either $80,000 personal or $150,000 household.
Will you stick with RBC?
With the partnership of RBC and Cathay Pacific coming to an end, there will definitely be some people caught in an unexpected lurch. Are you someone who's currently holding onto a RBC Cathay Pacific Visa Platinum?
If so, please do let us know about what you think about the changes, whether you're going to take the RBC offer, or whether you're going to explore alternatives in the comments below.
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