Jack Prenter, Founder of Dollarwise
In this article, we’ll delve deep into the world of RBC credit cards. We’ll unpack the different categories, provide an in-depth review of each card, and help you align the best one with your unique financial circumstances and lifestyle.
This isn’t just about comparing interest rates and rewards programs – it’s about discovering a financial tool that’s custom-made for you.
10 of the best RBC credit cards
How RBC Credit Cards Work
RBC credit cards function like any other credit card, allowing cardholders to make purchases now and pay for them later. Each card comes with a credit limit, which is the maximum amount you can charge to the card. Cardholders are required to make at least the minimum payment by the due date each month to maintain their account in good standing. Interest is applied to any balance not paid in full by the payment due date.
RBC credit cards come with a variety of benefits and features depending on the card type, such as cash back, rewards points, travel perks, and various forms of insurance coverage. Many RBC cards also offer unique benefits like instant fuel savings at Petro-Canada and special offers on car rentals.
General Types of RBC Credit Cards
RBC offers a wide range of credit cards to meet various financial needs and spending habits. These include:
- Rewards Cards: Cards like the RBC Avion Visa Infinite Business and RBC Avion Visa Platinum offer rewards points for every dollar spent, which can be redeemed for travel, merchandise, gift cards, and more.
- Cash Back Cards: Cards such as the RBC Business Cash Back Mastercard offer cash back on purchases, providing tangible savings.
- Travel Cards: RBC offers co-branded cards with travel partners like Cathay Pacific, which provide travel benefits and rewards.
- Low Interest Cards: Cards like the RBC Visa Classic Low Rate Option provide a lower interest rate on purchases, making them a good choice for those who carry a balance.
Common Features of RBC Credit Cards
RBC credit cards share a number of common features:
- RBC Rewards: Many RBC cards offer RBC Rewards points on purchases. The rate at which you earn points varies depending on the card, and points can be redeemed for a variety of rewards.
- Insurance Coverage: RBC credit cards typically come with various forms of insurance coverage, such as travel insurance, purchase protection, and extended warranty.
- Additional Cards: RBC allows cardholders to add additional users to their account, making it easier to manage family spending.
- Security: RBC offers security features like fraud detection, emergency card replacement, and zero liability for unauthorized transactions.
How to Choose the Best RBC Credit Card for You
Choosing the best RBC credit card for you depends on your specific needs, spending habits, and financial goals. Here are some factors to consider:
- Spending Habits: If you spend heavily in certain categories like gas or groceries, look for a card that offers bonus rewards in those categories.
- Interest Rates: If you tend to carry a balance, a card with a lower interest rate may be a better choice.
- Annual Fees: Consider whether the benefits of the card justify the annual fee. Some cards waive the fee for the first year as a promotional offer.
- Rewards: If you frequently travel or enjoy earning rewards, consider a card that offers generous points or cash back.
Who Should Consider an RBC Credit Card?
Anyone looking for a credit card that offers a blend of rewards, insurance coverage, and other perks should consider an RBC credit card. RBC offers cards to suit a variety of needs, from business owners to frequent travelers to those seeking a low interest rate. Additionally, RBC customers may find it convenient to have a credit card from their existing bank.
How to Get an RBC Credit Card
You can apply for an RBC credit card online, over the phone, or in person at an RBC branch. You’ll need to provide personal information such as your employment details, income, and Social Insurance Number. Approval will depend on factors such as your credit history and income
What’s the Best RBC Credit Card?
Choosing the best RBC credit card largely depends on your personal needs and spending habits. However, two standout options are the RBC ION+ Visa Credit Card and the RBC Avion Visa Platinum.
The RBC ION+ Visa Credit Card is an excellent option for those looking for a blend of rewards and practical benefits. This card offers 1.5% unlimited cash back on eligible purchases, 2% unlimited cash back on grocery store purchases, and a host of additional benefits like mobile device and purchase security insurance, extended warranty, and fraud protection.
The RBC Avion Visa Platinum is a popular choice for travel enthusiasts. With this card, you can earn 1 RBC Rewards point for every dollar spent on purchases, and these points can be redeemed for travel, merchandise, gift cards, and more. The card also offers a comprehensive suite of travel insurance, including emergency medical and trip cancellation/interruption insurance, along with unique benefits like access to exclusive experiences through The Avion Collection.
Ultimately, the best RBC credit card for you will depend on your individual financial needs, spending habits, and reward preferences.