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RBC Shoppers Optimum Mastercard Review

RBC Shoppers Optimum Mastercard Review

The RBC Shoppers Optimum Mastercard is a no-fee credit card which earns you Shoppers Optimum Rewards points with every purchase you make. Perfect for those obsessed with Shoppers Optimum points, like me!

I love that this program is so simple. The points you earn from using the credit card are automatically credited to your Optimum rewards card each month and you see how many points you earned on your monthly statement. You can also track it all online.

The Details:

  • Annual Fee: $0
  • Interest Rate (purchases): 19.99%
  • Cash Advance Interest Rate: 21.99%

Shoppers Optimum Points:

  • You’ll get 15 Shoppers Optimum Points for every $1 you spend at Shoppers Drug Mart
  • You’ll get 5 Shoppers Optimum Points for every $1 you spend anywhere else you go shopping
  • And the really great part? You’ll actually get 25 Shoppers Optimum Points for every $1 spent at Shoppers since you earn 10 points for every $1 you spend when you show your Optimum Card (15 points to use Mastercard, 10 points to show Optimum Card).

Welcome Bonus:

Earn 15,000 Shoppers Optimum Points on First purchase

Value of Shoppers Optimum Points

8,000 points = $10
22,000 points = $30
38,000 points = $60
50,000 points = $85
95,000 points = $170

One of the things I love about the Shoppers Optimum Reward program is the special event days where you can redeem your points for an even higher value (E.g., 95,00 points = more than $170)

Find out more about the RBC Shoppers Optimum Mastercard.

Want to Earn Even More Points?

RBC also offers a Shoppers Optimum Chequing Account. With the RBC Shoppers Optimum Banking Account, you can earn Points when you use debit.

  • You’ll get 20 Points for every $1 you spend at Shoppers Drug mart. Presumably, you’ll actually get 20 Shoppers Optimum Points for every $1 spent at Shoppers since you earn 10 points for every $1 you spend when you show your Optimum Card (although, I couldn`t find this on the site)
  • You’ll get 1 Point for every $1 you spend anywhere else you go shopping

The catch? The account comes with a monthly fee of $10.95.

Welcome Bonus:

The Account also offers a Welcome Bonus: 50,000 Bonus Points when you open the account and an additional 5,000 Points when you use RBC`s CustomSwitch service. However, to get the 50,000 Points, you must set up payroll deposit and complete 2 bill payments through RBC Online Banking (so obviously you must register for Online Banking as well). Using CustomSwitch to get the additional 5,000 Points means you have to transfer any pre-authorized transactions, close your banking account at another bank and transfer the balance to your new RBC Shoppers Optimum Banking Account.

I think the best deal is to just stick with the credit card! But if you’re interested, you can find out more about the RBC Shoppers Optimum Banking Account.

 

Check Out The Best Credit Cards In Canada!

4 Comments

  1. Hi, I just went to shoppers today that located at Morningside and kingston.a girl was trying to sell the rbc card. Even though I font work she wrote I earn 20000 a year. I signed thinking this is a optimum card as she has told me. I checked the website and I knew that’s a credit card. I asked her to trash it.she tore in front of but she refused to give me the paper I signed.

  2. you might be able to improve your analysis, unless you work for RBC.

    The only real question is whether the card itself is worthwhile. Everyone already has an optimum card, and gets the 10 points per $1 anyway; to include it as an extra 10 in your analysis is really counting it twice.

    What I’m working out is if it’s better to use my other credit card, which gives me 1 1/2% cash back, or this card, which I’m working on; the 15 points for each $1 spent is either 3.2%, or more likely .32%, which would make it a very bad deal, indeed.

    • Hi Martin, thanks for the question. Did some research on my past redemptions and this is what I found. Redemption value goes up in tiers. Right now the top tier (the one I always use) is $170 for 95,000 points. Thats $0.0018 per point. So at 15 points per $1 spent at Shoppers you’re getting $0.0268 in optimum points per $1 spent. Thats a return of 2.68%. This gets even better if you wait to redeem during the “Spend Your Points” events when 95,000 points gets you $200. Then its $0.0021 per point. Thats $0.032 in optimum points per $1 spent at Shoppers or a return of 3.2%.

  3. I call 1-800 ROYAL 12 to get my balance. I always got an automated machine which I love. Now when I call you are on hold forever waiting to talk to a person. I liked it the automated way…no waiting. Why did you change it??

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