RBC Business Cash Back Mastercard Review

3.00

$0.00

Annual Fee

$240.00

Annual Rewards

N/A

Intro Offer

$0.00

Annual fee

$240.00

Annual rewards

N/A

Intro offer


Pros


  • No annual fee
  • 1% cash back on most everyday purchases
  • 2% cash back on RBC business services
  • Purchase protection and extended warranty
  • Savings with Avis and Budget car rentals
  • Flexible credit limits for each employee
  • Easy online account tracking

Cons


  • Limited range of cash back categories
  • Lower cash back rate compared to competitors
  • No bonus cash back offers or sign-up bonus
  • No travel rewards or insurance coverage

How you earn rewards

Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With RBC Business Cash Back Mastercard, here’s how you earn rewards:

All Other Spend1%

How much your rewards are worth

The dollar value of your rewards depends on the specific RBC rewards program and what you choose to redeem your points for.

For RBC Business Cash Back Mastercard in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:

Redemption methodAnnual rewards
Apply to statement credit$2.40

Calculating your annual rewards

$24,000.00 annual spending x $1.00% return on spending = $240.00 annual rewards

$240.00 annual rewards – $0.00 annual fee = $$240.00 net annual rewards

Details and eligibility

Do I qualify?
Estimated Credit Score760 – 900
Interest Rates
Purchase20.9%
Cash Advance22.9%
Balance Transfer22.9%
Fees
Extra Card Fee$0
Card typeMasterCard

Insurance coverage

Extended Warranty1 year
Purchase Protection90 days

RBC Business Cash Back Mastercard Review

The RBC Business Cash Back Mastercard is a well-rounded credit card option for Canadian business owners who are looking to earn cash back on everyday expenses. This review will discuss the earning potential of the card, four key benefits, two drawbacks, and other relevant information.

Earning Potential: With the RBC Business Cash Back Mastercard, cardholders can earn an unlimited 2% cash back on eligible gas station and office supply store purchases, as well as on recurring bill payments. For all other eligible purchases, cardholders earn 1% cash back. There are no caps or restrictions on the amount of cash back that can be earned, which is a significant advantage for businesses with substantial expenses or frequent purchases in these categories.

Benefit 1: The first major advantage of this card is that it has no annual fee. This allows businesses to maximize their cash back earnings without having to worry about offsetting the costs of a yearly fee, making it a budget-friendly option.

Benefit 2: The second major advantage of this card is the purchase protection and extended warranty benefits. With this card, purchases are protected against loss, theft, or damage for up to 90 days from the purchase date. Moreover, the card extends the original manufacturer’s warranty by up to one additional year, providing added peace of mind for business owners.

Benefit 3: The third major advantage of this card is its flexibility. Cardholders can redeem their cash back rewards at any time, with no minimum reward threshold required. This means businesses can choose to redeem their rewards to offset specific expenses or simply save them for future use.

Benefit 4: The fourth major advantage of this card is the ability to access customized online financial management tools. These tools are designed to help businesses better manage and track their expenses, providing valuable insights for strategic financial planning.

Drawback 1: One significant drawback of this card is that the 2% cash back rate only applies to specific categories (gas stations, office supply stores, and recurring bill payments). This could limit the earning potential for businesses with diverse spending habits, making it potentially less rewarding for businesses in certain industries or with specific expense profiles.

Drawback 2: Another significant drawback is that the card lacks travel-related benefits. This means that business owners who travel frequently may miss out on valuable rewards, perks, and savings typically offered by other business credit cards with an emphasis on travel.

In conclusion, the RBC Business Cash Back Mastercard is a solid option for Canadian business owners seeking a simple and effective cash back rewards credit card with no annual fee. While the lack of travel benefits and the limited 2% cash back categories may not suit all business needs, this card still offers a competitive cash back rate on everyday spending and useful features for managing expenses.

Interested in other credit cards? If the RBC Business Cash Back Mastercard credit card isn’t perfect for you, you might want to consider the CIBC bizline Visa Card for Small Business. Plus, many Canadian’s that like the RBC Business Cash Back Mastercard like the BMO World Elite Business Mastercard, and the RBC Avion Visa Infinite Business.

FAQ

The RBC Business Cash Back Mastercard credit card allows cardholders to redeem points for cash back, which is applied directly as a credit to the account balance. This cash back feature provides flexibility, allowing users to redeem rewards for their preferred purposes, such as reducing business operating expenses, investing in new capital, rewarding employee performances, or simply improving their company’s bottom line.

The RBC Business Cash Back Mastercard credit card charges a foreign transaction fee of 2.5% on all purchases made in a foreign currency. This applies both to transactions made outside of Canada and online purchases made in a foreign currency. It is essential to consider these fees when using the card for international transactions, as they can add up and impact your overall cash back rewards.

The RBC Business Cash Back Mastercard credit card does not have a minimum personal or business income requirement for eligibility. This makes it accessible to a wide range of businesses, regardless of their revenue levels.

Key benefits

  • Mastercard network acceptance worldwide
  • 19.99% annual interest rate on purchases
  • 22.99% annual interest rate on cash advances
  • Interest-free grace period of 21 days on purchases
  • Cardlock feature to temporarily block transactions
  • RBC Online Banking and RBC Mobile App integrations
  • Liability waiver program for unauthorized employee purchases
  • Zero liability protection for fraudulent charges
  • Optional Add-Ons: Overdraft and Balance Protection Insurance

About The Author