RBC Visa Classic Low Rate Option®

RBC Visa Classic Low Rate Option®: 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 Visa Classic Low Rate Option

An RBC Visa Classic Low Rate Option credit card is an optimal choice for clients looking to save on interest rates and avoid annual fees. Being a cost-effective credit solution, this type of credit card does not provide cash back or reward-earning opportunities.

RBC Visa Classic Low Rate Option card features

An RBC Visa Classic Low Rate Option credit card features a low interest rate of 12.99% on purchases and cash advances. The annual fee for using this credit card is $20, and issuing an additional card is free of charge. 

Insurance coverage options included in an RBC Visa Classic Low Rate Option credit card are purchase security and extended warranty protection. The purchase security coverage ensures the protection of purchases made with your credit card against loss, theft, or damage for up to 90 days from the date of transaction. The extended warranty protection doubles the original manufacturer's warranty by up to one more year. 

An RBC Visa Classic Low Rate Option credit card features partner integrations benefits, such as:

  • Saving $0.03 per liter when purchasing fuel at a Petro-Canada location

  • Earning 20% more Petro-Points than you normally earn at Petro-Canada 

  • Earning 50 Be Well points for 1 dollar spent on eligible purchases at Rexall, a chain of retail pharmacies

  • Getting 3 months of free delivery for orders of over $15 with a 3-month complimentary DashPass subscription from DoorDash food delivery service   

In case you have misplaced your RBC Visa Classic Low Rate Option credit card, you can temporarily lock it through the RBC Mobile app.

Pros and cons

Here are the major benefits of an RBC Visa Classic Low Rate Option credit card:

  • Low interest rate

  • Low annual fee

  • Partner integration benefits (fuel savings at Petro-Canada, Be Well points at‌ Rexall, and free delivery from DoorDash)

  • Credit card lock available at any time

The drawbacks are:

  • Few insurance coverage policies included

  • The lack of reward or cash back earning opportunities

  • No special offers in place

How to apply for an RBC Visa Classic Low Rate Option credit card

Just like with other RBC credit cards, you can apply for an RBC Visa Classic Low Rate Option card online. Hit the “Apply Now” button next to the credit card description and proceed with an online application form. If you already have an RBC Online Banking account, you can sign in to it during the application process and save time by filling out a shorter form. If you are not an RBC client yet, you will have to fill out an extended form and provide the following details:

  • 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

If you need insurance protection for your credit card balance or you want to register an additional user to your credit card, be sure to specify these aspects in the form. You will also need to create a personal identification word. Once you provide all the required information, review it once again, accept the terms and conditions if everything is correct, and click the “Agree and Submit” button.

There are no minimum personal annual income requirements to apply for an RBC Visa Classic Low Rate Option card.

Can I request additional services for my RBC Visa Classic Low Rate Option credit card?

RBC offers a range of add-on services that you can add to your credit card account, including:

  • Add-on Travel Insurance to cover unexpected expenses during a trip

  • RBC Road Assist service to protect you from unwanted situations like a flat tire, a lockout, or a battery boost

  • BalanceProtector Max Insurance to cover your credit card balance in case of unexpected situations

  • Identity Theft & Credit Protection through continuous monitoring of your personal information

Where can I get help with my credit card? To get assistance with your credit card, you can call the RBC customer service team at 1-800-769-2512 (toll-free).

How to close my credit card account?

If you wish to close your credit card account, call the RBC customer service team at 1-800-769-2512 (toll-free).

Before closing your card, be sure to check other credit card options available at RBC so that you might find the one that would fit your needs better.

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18.11.2022
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Last update 30.11.2022