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.
Best RBC Cash Back Credit Cards in Canada
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 a 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 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.
RBC Cash Back Credit Cards Alternatives
A top-rated no-fee cash back credit card alternative in Canada is the Tangerine Money-Back Card.
For a premium cash back card, 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 10% cash back on up to $1,000 in spending in the first 2 months ($100 value); 1.95% balance transfer rate for 6 months.
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 three 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:
- Best Credit Cards in Canada
- Best Prepaid Credit Cards
- Best Low-Interest Credit Cards
- Best Secured Credit Cards
- Best Grocery Credit Cards in Canada
RBC Cash Back credit cards in Canada
Overall
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.
Pros
- Has a no-fee cash back credit card
- Premium cards available
Cons
- There are more competitive alternatives
