Best RBC Cash Back Credit Cards in Canada in 2022

The Royal Bank of Canada (RBC) offers credit cards in various categories including cash back, student, travel, low-interest rates, and business.

Cash back credit cards are great because it is easy for you to spend and enjoy your earnings.

For example, if your cash back card offers 1% cash back on all purchases, you receive $1 for every $100 spent using the card.

You can then easily use this cash back to pay down your credit card balance or put it towards future purchases.

RBC only has three credit cards designated for cash back rewards. You can learn about the best no-fee credit card options for cash back rewards in Canada here.

RBC Cash Back Credit Cards

The three RBC cash back credit cards in Canada are:

  • RBC Cash Back Mastercard
  • RBC Cash Back Preferred World Elite Mastercard
  • RBC Business Cash Back Mastercard

RBC Cash Back Mastercard

The no-annual-fee credit card offers up to 2% cash back on your purchases, plus unlimited cash back at its base earn rate.

Below is a summary of its benefits:

  • 2% cash back on grocery purchases up to maximum spending of $6,000 per year, and 1% cash back after.
  • 0.50% on all other purchases up to maximum spending of $6,000 per year, and 1% after.
  • Save 3 cents per litre of gas purchases at a Petro-Canada gas station and earn 20% more in Petro-Points.
  • Enjoy purchase security with protection against loss, theft, or damage for up to 90 days when you pay using your card.
  • Enjoy extended warranty insurance that doubles the manufacturer’s warranty for up to one additional year.

This card has an industry-average purchase interest rate of 19.99%, and its cash advance rate is 22.99%.

Get more details in this RBC Cash Back Mastercard review.

RBC Cash Back Preferred World Elite Mastercard

The RBC Cash Back Preferred World Elite is RBC’s only premium cash back credit card.

It has a $99 annual fee and offers the following benefits:

  • 1.5% cash back on all purchases up to maximum spending of $25,000 per year, and 1% unlimited cash back after
  • Free Boingo WI-Fi at more than 1 million hotspots worldwide
  • Complimentary membership in Mastercard Airport Experiences provided by LoungeKey with access to more than 800 airport lounges worldwide
  • Save 3 cents per litre of gas purchased at Petro-Canada gas stations
  • Rental car insurance
  • Purchase protection and extended warranty
  • Access to Mastercard Travel Rewards

To qualify for this credit card, you need a minimum personal income of $80,000 or $150,000 for household income.

rbc cash back preferred world elite mastercard

RBC Business Cash Back Mastercard

Small business owners can use the RBC Business Cash Back Mastercard to earn cash back instead of points that are more difficult to redeem.

It has no annual fees and offers:

  • 2% cash back on purchases in the first 3 months and 1% cash back after. You can earn up to a maximum of $650 cash back per year.
  • Save 3cents per litre of gas purchased at Petro-Canada gas stations and 20% more in Petro-Points
  • Purchase security against theft, loss, or damage when you pay using your card.
  • Extended warranty that doubles the manufacturer’s warranty by up to one extra year.
  • Access to RBC offers and enrollment in Mastercard’s Easy Savings Program.

Here are some other business credit cards in Canada.

How To Redeem Your RBC Cash Back Rewards

You can claim the cash back you have earned using your RBC cash back credit once it reaches $25 or more.

If you have not redeemed your cash back by the end of the year, it is automatically credited to your January account balance.

Transactions that do not generate cash back include cash advances, interest charges, and balance transfers.

Alternative Cash Back Credit Cards

A top-rated no-fee cash back credit card alternative in Canada is the Tangerine Money-Back Card.

For a premium cash back card, take a look at the Scotia Momentum Visa Infinite Card or SimplyCash Preferred Card from American Express.

1. Tangerine Money-Back Credit Card

  • Annual fee: $0
  • Cashback offer: Up to 2%
  • Promotion: 1.95% balance transfer for 6 months

This Tangerine credit card offers unlimited 2% cash back on up to three categories of spending, including groceries, gas, and recurring bill payments.

All other purchases outside of your 2% categories earn cash back at a rate of 0.50%.

This card also offers purchase protection and extended warranty coverage. You can learn more about it in this review and why it is one of the best cash back cards in Canada.

Tangerine Money-Back Credit Card

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 15% cash back on up to $1,000 in spending in the first 2 months ($150 value).

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

2. Scotia Momentum Visa Infinite

  • Annual fee: $120; fee is waived in the first year
  • Cash back offer: Up to 4%
  • Promotion: 10% cash back for the first 3 months

The Scotia Momentum Visa Infinite Card offers a 10% cash back rate on all purchases for the first 3 months (on up to $2,000 in purchases).

After the promotion period ends, you earn 4% cash back on groceries and recurring payments; 2% on gas and daily transit, and 1% on all other purchases.

Cardholders enjoy:

  • Mobile device insurance
  • Comprehensive travel insurance including travel emergency medical, trip cancellation, trip interruption, flight delay, delayed and lost baggage, and travel accident insurance
  • Rental car insurance
  • Purchase protection and extended warranty
  • Access to Visa Infinite benefits and perks

Get more details in our Scotia Momentum Visa Infinite Review.

Related reading:

RBC Cash Back credit cards in Canada
4.1

Summary

Learn about the best RBC Cash Back credit cards in Canada including the RBC Cash Back Mastercard and RBC Cash Back Preferred World Elite Master Card.

Best Credit Offers in August 2022

Earn up to 15% cash back for a limited time ($150 bonus)

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

Get 15% bonus cash back in first 2 months ($150 value).

1.95% balance transfer offer for 6 months.

Get up to 5% cashback and grow your savings ($20 bonus)

Free prepaid reloadable Mastercard (use referral code CASHBACK during signup for $20 free).

Free budgeting app with automatic savings features.

Access to a portion of your paycheque 3 days early.

1.20% savings interest on every dollar balance.*

Compare the best personal loan rates in Canada

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals are available in as fast as 5 minutes.

Low-interest rates start at 1.99% and terms from 4-60 months.

The NeoCard pays up to 5% cash back at select retailers

Get a $25 bonus when you apply for the Card.

Up to 5% cash back at participating stores.

No annual account fees and 1% minimum cash back guaranteed.

Guaranteed instant approval credit card.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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  • 15% cashback on $1,000 spent in first 2 months ($150 value).*
  • Earn 2% unlimited cashback in 2 categories and 0.50% back on everything else.
  • No annual fees!
*Limited time offer. Terms and conditions apply.
Best No Annual Fee Cash Back Credit Card
Best No Annual Fee Cash Back Card
Get 15% cashback on up to $1,000 spent in first 2 months ($150 value).* No annual fees!
*Limited time offer. Terms and conditions apply.
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