[DISCONTINUED] RBC Esso Visa Card
Is it just me or does it feel like more credit cards are being shut down than introduced to the market? It started with Petro-Canada, now it is Esso’s turn. Seems like gas loyalty programs are having difficulty maintaining their partnerships with credit card companies.
You will noticed that the RBC Esso Visa Card has already been taken down from the RBC website. On the Esso website, they still show the card, but mention that new applications are no longer accepted.
Highlights
Below were the highlights of the credit card.
- No annual fee
- Earn 4,500 sign up bonus Esso Extra points after the first purchase
- Earn 2 points for every $1 spent at participating Esso branded retail stations
- Earn 1 Esso Extra point for every $1 spent on all other purchases
Not Grandfathered
You may have received a letter in the mail saying that existing cardholders will cease on August 1, 2017.
Thoughts
I personally thought that this was a decent no annual fee card. What I find disappointing is not so much the discontinuation of a credit card, it is more the fact that we are not really seeing new products being introduced. The last time RBC shut down a card (RBC Gold Card), they converted it into a different card (RBC Rewards+) at least.
Going forward, I suspect that RBC will put more emphasis on their RBC Rewards / Avion points program instead.
IHG, Shoppers, Petro Canada and now one more eats dust. Tough times for already limited choice Canadian credit card scene….:(
Banks are making too much money. No need to offer competitive products.
this trend will continue
Agreed…
What a shame…RBC already has very limited number of partners, and Esso was one of the better ones.
Losing 1:1 transferability to AA for the Avion card and then losing the Esso credit card – sounds like RBC does not want any customers for its credit cards.
I’d guess the transferability to/from Esso points for the Avion card is also going to be removed soon?
Devaluations all across the board…
This is a pain, I have been using the Esso RBC link to transfer Aeroplan points to my RBC Avion Card. I use points.com to transfer from Aeroplan to Esso. Then I sign on to esso to transfer the points from Esso to RBC rewards ( using my RBC Avion card number),. When this link dies on 1st August my transfer method dies with it.
It is unfortunate. Always remember to diversify your portfolio http://pointshogger.boardingarea.com/reasons-why-we-should-diversify-our-miles-and-points-portfolio/