RBC RateAdvantage Visa®

RBC RateAdvantage Visa®: interest rates, available limits, cashback and bonuses. Full conditions for obtaining a credit card online. The procedure for registration and receipt online or at a bank branch. Features.


About RBC RateAdvantage Visa

An RBC RateAdvantage Visa card is a credit card with a competitive variable interest rate that fluctuates with the Prime rate. Being a cost-effective credit solution with a zero annual fee, this card doesn’t feature cash back or reward-earning options.

RBC RateAdvantage Visa card features

An RBC RateAdvantage Visa credit card features an interest rate for purchases and cash advances equal to the Prime rate (5.45% at the moment of writing this review) plus a fixed rate ranging from 4.99% to 8.99%. The key factor that influences the fixed portion of your interest rate is your credit score: the higher your credit score, the lower the rate. 

You don’t have to pay an annual fee for using an RBC RateAdvantage Visa credit card, and you can also issue an additional card for free.

Insurance policies included in this credit card are purchase security and extended warranty protection. Purchase security coverage ensures up to 90-day protection for purchases made with your credit card against loss, theft, or damages. Extended warranty coverage doubles the original warranty provided by a manufacturer for up to 1 more year.

Additionally, you can benefit from a range of partner integrations, such as:

  • Saving $0.03 on fuel and earning 20% more Petro-Points than you normally earn at Petro Canada

  • Getting 50 Be Well points for every dollar spent at Rexall pharmacies

  • Getting three months of free delivery on orders over $15 with a complimentary DashPass subscription from DoorDash food delivery

If you feel like you’ve misplaced your RBC RateAdvantage Visa credit card, you can lock it at any time through the RBC Mobile app and unlock it once you find it.

Pros and cons

Here are the definite advantages of an RBC RateAdvantage Visa credit card:

  • Low-interest rate (especially for clients with high credit scores)

  • Zero annual fee

  • Free additional card issuance

  • No yearly minimum income requirements to apply

Still, there are certain disadvantages:

  • No cash back earning opportunities

  • No reward-earning opportunities

  • Few insurance coverage policies included

How to apply for an RBC RateAdvantage Visa credit card

You can apply for an RBC RateAdvantage Visa credit card online — hit the “Apply Now” button next to the credit card description and proceed with an online application form. If you are an RBC client already, you can sign in to your RBC Online Banking account during the application process and save time by filling out a shorter form. If you are new to RBC, you will have to fill out an extended form and provide the following information:

  • Your personal information (including your first name, last name, contact details, and date of birth)

  • Your address

  • Your rent or mortgage expenses

  • Your social insurance number (SIN)

  • Your employment information (including your employment status, occupation, and information about your employer)

  • Your annual income

The system will also ask you if you need insurance protection for your credit card balance or if you want to register an additional user to your credit card. In addition, you will also need to create a personal identification word. 

Once you provide all the details, review the information, accept the terms and conditions if everything is ok, and click the “Agree and Submit” button.

There are no minimum personal annual income requirements to apply for an RBC RateAdvantage Visa credit card.

How does RBC calculate a variable interest rate for an RBC RateAdvantage Visa credit card?

Can I set up automatic payments for my RBC RateAdvantage credit card?

If I assign an additional cardholder, what privileges will they have?

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18.11.2022
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Last update 30.11.2022