The Signature RBC Rewards Visa is one of RBC’s entry-level credit cards, and a low-fee credit card option for students.
With its $39 annual fee, you get travel insurance perks that are not offered by the two other RBC cards in the ‘student’ category i.e. RBC Cash Back Mastercard and RBC Rewards+ Visa.
This Signature RBC Rewards Visa review covers its benefits, downsides, and alternatives.
Table of Contents
Signature RBC Rewards Visa Features and Benefits
$39 annual fee: This card has a $39 annual fee which is waived if you are a student or an RBC Signature No Limit Banking client.
Rewards: Cardholders earn 1 RBC point for every $1 spent on purchases.
Save on fuel at Petro-Canada: When you link your credit card to your Petro points card, you save 3 cents per litre on gas purchased at Petro-Canada locations.
Maximize rewards at Rexall: You can link the signature RBC Rewards Visa to a Be Well card and earn 50 Be Well points for every $1 spent on eligible products at Rexall.
Travel insurance: This card includes travel accident insurance and car rental insurance.
Free DashPass subscription: New cardholders get a 3-month complimentary DashPass subscription. This means you pay $0 delivery fees on DoorDash orders of $12 or more when you pay with your RBC credit card.
Optional features: You can pay extra to access features like RBC Road Assist, Balance Protector Insurance, and comprehensive travel insurance benefits.
Interest rates: This card has a 19.99% interest rate for purchases and 22.99% for cash advances.
Signature RBC Rewards Visa Insurance
This card offers:
- Travel accident insurance
- Auto rental collision/loss damage insurance
- Purchase security insurance
- Extended warranty insurance
Downsides of the Signature RBC Rewards Visa
There are no-annual-fee cash back credit cards that offer more than 1% back on all purchases, such as the SimplyCash Card from American Express.
To waive the annual fee, you must either be a post-secondary student or you need to have an RBC Signature No Limit Bank account that has a $15.95 monthly fee.
How To Redeem RBC Rewards Points
You can redeem RBC Rewards points for:
Travel rewards: Book flights, hotels, car rentals, and vacation packages.
Merchandise: Purchase thousands of products online including electronics, kitchen appliances, fashion, and more.
Gift cards: Exchange your points for gift cards from 100+ brands
Financial rewards: Use your points to contribute to investment accounts or to pay down your loans.
Statement balance: Pay down your credit card balance with points or use them to pay for your bills.
Charitable donations: You can use RBC Rewards points to make a charitable donation.
Signature RBC Rewards Visa vs. RBC Rewards+ Visa
The RBC Rewards+ Visa Card has no annual fees and offers:
- 1 RBC Rewards point for every $1 spent on gas, grocery, and drugstore purchases
- 1 RBC Rewards point for every $2 spent on all other purchases
This credit card does not provide travel insurance.
| Signature RBC Rewards Visa | RBC Rewards+ Visa | |
| Annual fee | $39 | $0 |
| Rewards | 1 point/$1 spent on all purchases | 1point/$1 spent on gas, grocery, & drugstore purchases; 1 point/$2 spent elsewhere |
| Travel benefits | Yes (travel accident and rental car insurance) | No |
| Purchase protection & extended warranty | Yes | Yes |
Alternative Cash Back Credit Cards
The cash back credit cards below offer a decent cash back rate with no- or low-annual fees.
Scotiabank Momentum Visa Card
The Scotiabank Momentum Visa has a $39 annual fee and offers 2% cash back per $1 spent on gas, grocery, drugstore purchases, and recurring bill payments. It also pays 1% cash back on all other purchases.
Cardholders can save up to 25% on car rentals at AVIS and Budget locations.
For insurance benefits, this card includes standard purchase protection and extended warranty insurance coverage.
Current offers: Get a 0.00% introductory rate on balance transfers for the first 6 months.
Get more details in our detailed Scotiabank Momentum Visa review.
Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card is the top no-annual-fee cash back card in Canada.
It offers 2% unlimited cash back in two purchase categories (you can choose from 10 spending categories), and 0.50% cash back on all other spendings.
In addition, new cardholders can transfer balances at a low rate of 1.95% for 6 months.
Current offer: Earn 10% cash back on up to $1,000 spent in your first 2 months ($100 value).
You can get more details about this Tangerine card in our full review.
FAQs
Do RBC Signature Rewards points expire?
RBC Rewards points expire three years after earning them.
What is the income requirement for the Signature RBC Rewards Visa?
The Signature RBC Rewards Visa does not have a minimum income requirement. To apply, you must be a Canadian resident and the age of the majority in your province or territory of residence.
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