RBC offers a range of credit cards with appealing perks, including low-interest rates, minimal annual fees, rewards programs, and comprehensive insurance coverage. These cards are versatile tools suitable for various transactions, such as bill payments, online purchases, cash back redemption, balance transfers, and more.
If you're unsure which credit card suits your needs, RBC provides a Comparison Tool on their website that allows you to compare up to three cards. Additionally, you can use the 'Help me choose the credit card' feature. Simply specify whether you're interested in a personal, business, or student card, and indicate your preferences, such as travel, rewards, low-interest rates, or cash rewards. Based on your income level, the system will then present you with recommended credit card options.
Key Features
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Reward Opportunities. RBC credit cards offer various reward programs, allowing cardholders to earn points, cash back, or travel miles on their purchases.
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Travel Benefits. Many RBC cards provide travel-related perks such as travel insurance, airport lounge access, and companion vouchers, making them ideal for frequent flyers.
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Low Fees. RBC credit cards often come with competitive annual fees, and some even waive the fee for the first year, providing excellent value for cardholders.
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Purchase Protection. RBC credit cards typically offer purchase security and extended warranty protection, safeguarding cardholders against fraudulent transactions and product defects.
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Flexible Redemption Options. With RBC cards, accumulated rewards can be redeemed for a variety of options, including travel bookings, statement credits, gift cards, merchandise, and more, providing flexibility and choice for cardholders.
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Online Banking Tools. RBC provides convenient online banking tools and mobile apps, allowing cardholders to manage their accounts, track spending, set up automatic payments, and monitor rewards easily and securely.
Credit Cards offered by RBC
Travel Cards. Ideal for frequent travelers, these cards offer exclusive perks such as airport lounge access, travel insurance, and avion points. Examples include the RBC Avion Visa Infinite, RBC Avion Visa Platinum, and the WestJet RBC Mastercard.
Rewards Cards. With every purchase, these cards reward you with bonus points that can be redeemed for travel, merchandise, gift cards, or cash back. Examples include the RBC Rewards+ Visa and the RBC Cash Back Preferred World Elite Mastercard.
Cash Back Cards. These cards provide cashback credits for every transaction, aligning with your spending habits. Examples include the RBC Cash Back Mastercard and the moi RBC Visa.
Low-Interest Cards. Offering competitive interest rates and low to no annual fees, these cards are suitable for those looking to save on interest charges. Examples include the RBC Visa Classic Low Rate Option and the RBC RateAdvantage Visa.
Student Cards. Designed for students, these cards often come with low or no annual fees and offer rewards like points or cash back. Examples include the RBC ION Visa for Students and the RBC Visa CreditLine for Small Business.
Business Credit Cards. Business Сredit Сard, tailored for business owners, feature low annual fee, low-interest rates, and rewards for business spending. Examples of RBC commercial credit cards are the RBC Business Cash Back Mastercard and the RBC Avion Visa Business.
Pros and Cons
Pros
Reward Programs. RBC credit cards often feature robust reward programs, allowing cardholders to earn bonus points, cash back, or travel miles on their everyday purchases. These rewards can be redeemed for a variety of options, including travel, merchandise, gift cards, or statement credits.
Exclusive Perks. Many RBC credit cards come with exclusive perks such as travel insurance, airport lounge access, concierge services, and purchase protection. These benefits enhance the overall cardholder experience and provide added value beyond just earning rewards.
Flexible Redemption Options. RBC offers flexible redemption options for earned rewards, allowing cardholders to tailor their redemption choices to their preferences. Whether it's booking travel, redeeming merchandise, or receiving statement credits, RBC provides multiple ways to use accumulated rewards.
Low Fees and Interest Rates. Depending on the specific card, RBC credit cards may come with low annual fees or even no annual fee at all. Additionally, some cards offer introductory periods with low or 0% APR on purchases and balance transfers, helping cardholders save on interest charges.
Convenient Banking Integration. RBC credit cards seamlessly integrate with RBC's online and mobile banking platforms, providing easy access to account management, transaction tracking, and bill payments. This integration streamlines financial management for cardholders, offering convenience and peace of mind.
Cons
Annual Fees. Some RBC credit cards may come with an annual fee, which could be a drawback for individuals looking to minimize their credit card expenses. While these fees may be justified by the card's benefits and rewards, they can still represent an added cost for cardholders.
High Interest Rates. If cardholders carry a balance on their RBC credit cards, they may face high interest rates, especially after any introductory APR periods expire. This can result in significant interest charges over time, particularly if the balance is not paid off in full each month.
Limited Acceptance. While RBC credit cards are widely accepted, there may be instances where certain merchants or businesses do not accept them. This limited acceptance could inconvenience cardholders who rely heavily on their credit cards for transactions.
Complex Rewards Programs. Some RBC credit cards feature complex rewards programs with tiered earning structures, spending categories, and redemption options. This complexity can make it challenging for cardholders to maximize their reward bonus points and may require careful tracking and management of their spending habits.
Foreign Transaction Fees. When using Royal Bank of Canada credit cards for purchases made in foreign currencies, cardholders may incur foreign transaction fees. These fees can add up, particularly for frequent travelers or individuals who make international purchases online, diminishing the overall value of using the card abroad.
How to Choose an RBC Credit Card
Analyze Spending Patterns. Begin by understanding your monthly expenses to identify your spending habits. RBC provides tools to compare credit card options based on rewards and benefits, helping you select the card that aligns with your spending style.
Consider Reward Preferences. Explore the rewards programs offered by RBC credit cards, such as travel rewards or cash back. Determine which rewards best suit your lifestyle and preferences to maximize your benefits.
Evaluate Fees and Rates. Compare the annual fee and interest rate of different credit cards to ensure they fit your budget and financial goals. This assessment helps you choose a card that offers value without excessive costs.
Review Welcome Bonuses. Take advantage of any welcome bonuses or promotional offers available with RBC credit cards. Look for cards that provide attractive introductory rewards to enhance your overall benefits.
Examine Additional Benefits. Look into the additional benefits provided by each credit card, such as insurance coverage and travel perks. Select a card that offers extras that are relevant and valuable to your lifestyle.
Check for Partner Collaborations. Investigate partnerships or collaborations associated with RBC credit cards, such as exclusive discounts with partner retailers or airlines. Choose cards that provide additional perks aligned with your interests.
Assess Redemption Flexibility. Evaluate the redemption options available with each credit card, such as booking travel or accessing unique experiences. Seek cards that offer flexibility in how you can use your rewards.
Utilize Comparison Tools. Take advantage of RBC's comparison tool to assess multiple credit cards side by side. This allows for a comprehensive comparison of features, rewards, fees, and benefits to make an informed decision.
Read Reviews and Compare. After narrowing down your options, read customer reviews and further compare the remaining cards. This step ensures you're selecting the best credit card based on real user experiences and detailed comparisons.
Seek Expert Advice. Consider scheduling a consultation with an RBC advisor for personalized assistance. They can offer expert guidance tailored to your financial situation and help you choose the most suitable RBC credit card.
How to Apply for an RBC Credit Card
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Visit the RBC Website. Begin by accessing the official RBC website using your preferred web browser.
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Navigate to Credit Cards. Locate the "Credit Cards" section at the top of the screen on the RBC website.
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View All Credit Cards. Click on the option to "View All Credit Cards" to see the complete range of credit cards offered by RBC.
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Choose Your Desired Card. Browse through the available RBC credit cards and select the one that best suits your needs and preferences based on features, rewards, benefits, and annual fees.
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Click "Apply Now". Underneath the details of your chosen card, click on the "Apply Now" button to initiate the application process.
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Fill Out the Application Form. You'll be directed to a secure application form where you'll need to provide personal information such as your name, address, date of birth, contact details, employment information, and financial details.
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Review and Submit Your Application. Carefully review all entered information for accuracy and completeness before submitting your application.
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Wait for Approval. RBC will review your application and conduct a credit check. If approved, you'll receive notification of your approval status.
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Activate Your Card. Follow the instructions provided by RBC to activate your new credit card upon approval.
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Start Using Your Card. Once activated, your RBC credit card is ready to use for purchases, earning rewards, and enjoying benefits.
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Apply Through the Mobile App. Alternatively, you can apply for an RBC credit card through the Mobile App by selecting "More" > "Products" > "Open an account" > "Credit Cards" and tapping "Apply Now."
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Apply Through Calls. If preferred, you can call +1 (800) 769-25-12 to speak with an RBC Advisor who can guide you through the application process over the phone.
Eligibility Requirements
Age. Applicants must be at least 18 years old to apply for a Royal Bank of Canada credit card.
Residency. Applicants should either be Canadian citizens or have permanent residency status in Canada.
Credit Score. While a good credit score is preferred, RBC may still consider applicants with a poor credit record for certain cards.
Income. Premium cards may have specific income requirements. For instance, the Cash Back Preferred World Elite Mastercard requires a minimum personal income of $80,000 or a household income of $150,000.
Reasons You May Be Denied an RBC Credit Card
A history of missed payments, defaults, or bankruptcies can lead to a credit card application being denied.
If your income does not meet the requirements for the specific RBC credit card you're applying for, your application may be denied.
Having a significant amount of debt in proportion to your income may indicate a higher risk for the lender, resulting in a denial.
Limited or no credit history can make it difficult for RBC to assess your creditworthiness, potentially leading to a denial.
Multiple recent credit applications can signal financial instability and may result in a denial of your Royal Bank of Canada credit card application.
Inaccurate or incomplete information on your application can lead to a denial as RBC may be unable to verify your identity or financial situation.
If there are fraud alerts or discrepancies in your credit report, RBC may deny your credit card application to mitigate potential risks.
Applicants must meet the minimum age requirement of 18 years old to apply for an RBC credit card. Failure to meet this criterion can result in a denial.
How to Pay Off My RBC Credit Card Debt
Log in to your RBC Online Banking account, locate the credit card management section, and transfer funds from your bank account to your RBC Visa card.
Use the RBC Mobile app for convenient payment management. Navigate to your credit card account within the app and follow the prompts to make a payment.
Set up recurring payments through RBC Online Banking or the RBC Mobile app to ensure timely payments and avoid late fees.
Call Royal Bank of Canada customer service and follow the instructions to make a payment over the phone, providing your card details and banking information as needed.
Send a cheque or money order along with your payment stub to the address specified on your RBC Visa card statement, allowing sufficient time for processing.
Visit your nearest RBC branch and approach the banking counter to make a payment using cash, cheque, or debit card, ensuring you bring your card or account details.
Some RBC ATMs offer the option to make credit card payments directly. Insert your RBC Visa card and follow the on-screen prompts to initiate the payment transaction.
Editorial Opinion
Additional Resources
- Royal Bank of Canada Review
- Royal Bank of Canada Account Review
- How to PayOff Royal Bank of Canada
- Royal Bank of Canada Mobile App
