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RBC Cash Back Visa Review

RBC Cash Back Visa Review

This RBC Cash Back Visa is currently one of two cash back options from RBC. Cash back credit cards are great for anyone who doesn’t expect to use their travel rewards for flights or hotels. In general cash back credit cards give a slightly lower $ return on purchases but if you don’t expect to use your travel rewards for flights and hotels then it doesn’t really matter that the $ return is better.

This Visa card is a decent option but not the best cash back credit card we’ve seen. It has an annual fee (albeit it a small one at $19) and a 1% cash back rate on all purchases.

The drawbacks on this card vs other cash back credit cards is that it doesn’t offer a higher cash back rate on grocery, drug store, gas and other specific categories. Many other cash back credit cards offer a higher rate of 2% or more for some of these categories.

The interest rate on this card is pretty standard for credit cards in Canada. Its high at 19.99% for purchases. So if you plan on carrying a balance then there are other low interest credit cards that may serve you better (even though they don’t have any rewards or cash back).

The Details:

  • Annual Fee: $19
  • Supplemental Cards: $0
  • Interest Rate (Purchases): 19.99%
  • Cash Advance Rate: 21.99%


The RBC Cash Back Visa gives you cash back of 1% on all purchases. This benefit maxes out after the net purchases on the card exceed $25,000. So if you spend more than $2,083/month on your credit card then you’ll reach the maximum cash back each year of $250.

Given the cash back rewards max out at $250 and the annual fee on the card is $19 the maximum benefit you can get from the RBC Cash Back Visa is only $231 per year.

Cash back is paid out only once per year. The total purchases until January are used to calculate the cash back paid in February each year. This is typical for most cash back credit cards but the best cash back credit card in Canada pays out every time you reach $50. Which we feel is a slightly better benefit.

Welcome Bonus:

No welcome bonus available.

Travel Benefits:

None. Although travel insurance is available for purchase through the card.

Insurance Benefits:

This card does offer basic protection from fraudulent transactions (as do other major credit cards). But otherwise insurance is only available for purchase. Travel, Extended Warranty and Purchase Security are all extra insurance options available for purchase with this card.

Final Thoughts:

This RBS Cash Back Visa is a decent card but there are better ones out there. If you’re with RBC and you wand a cash back Visa then its an ok option. In our opinion if you want to maximize your cash back benefits then you’d probably be better served by what we feel is the Best Cashback Card in Canada.

Are you with RBC? Do you have this cash back card? What do you think of it? Make a comment to let us know.

Check Out The Best Credit Cards In Canada!

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