RBC Cathay Pacific Visa Platinum Review
Pros
- Earn Asia Miles: 1 Asia Mile per $1 spent on Cathay Pacific purchases, 1 Asia Mile per $1 spent on travel expenses, and 1 Asia Mile per $2 spent on all other purchases.
- Sign-up Bonus: New cardholders enjoy a generous welcome bonus of 35,000 Asia Miles after meeting the minimum spending requirement in the first three months.
- Annual Companion Fare: Cardholders receive an annual Economy Class companion ticket to select Asian destinations upon renewal.
- Green Tier Membership: This card offers an initial complimentary 12-month Green Tier Membership status in the Marco Polo Club, Cathay Pacific’s frequent flyer program.
- Exclusive Lounge Access: Enjoy two complimentary lounge passes to Plaza Premium Lounges worldwide each year.
- Travel Insurance: Cardholders benefit from comprehensive travel insurance, including trip cancellation, interruption, and delayed baggage claims.
Cons
- Annual Fee: The RBC Cathay Pacific Visa Platinum card comes with an annual fee of $120.
- Limited Rewards Partners: Cardholders can redeem Asia Miles only on Cathay Pacific, sister airline Dragonair, and selected airline partners, limiting its options for reward flights.
- High Interest Rate: The card has an interest rate of 19.99% on purchases and 22.99% on cash advances, which could be costly if you carry a balance.
- Foreign Currency Conversion Fee: There is a 2.5% fee on foreign currency transactions, which can add up for those who frequently travel or make purchases across various currencies.
- Complex Rewards Structure: Understanding and maximizing rewards may require more effort as rate earning varies based on purchase categories.
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 Cathay Pacific Visa Platinum, here’s how you earn rewards:
| Specific Stores | 2 points |
| All Other Spend | 1 point |
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 Cathay Pacific Visa Platinum in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:
| Redemption method | Annual rewards |
|---|---|
| Flight rewards | $529.20 |
Calculating your annual rewards
$24,000.00 annual spending x $2.21% return on spending = $529.20 annual rewards
$529.20 annual rewards – $120.00 annual fee = $$409.20 net annual rewards
Details and eligibility
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 560 – 659 |
| Interest Rates | |
|---|---|
| Purchase | 20.5% |
| Cash Advance | 22.9% |
| Balance Transfer | 22.9% |
| Fees | |
|---|---|
| Annual Fee | $120.00 |
| Extra Card Fee | $0 |
| Card type | Visa |
Insurance coverage
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Travel Accident | 500000 |
| Emergency Medical Term | 31 days |
| Emergency Medical over 65 | 7 days |
| Flight Delay | 500 |
| Baggage Delay | 500 |
| Lost or Stolen Baggage | 500 |
| Rental Car Theft & Damage | Yes |
| Hotel Burglary | 2500 |
RBC Cathay Pacific Visa Platinum Review
The RBC Cathay Pacific Visa Platinum credit card is ideal for those who frequently travel to and from Asia, particularly with Cathay Pacific. This review will discuss the card’s earning potential and benefits, as well as potential drawbacks to consider.
1. Earning potential with the card:
The RBC Cathay Pacific Visa Platinum card allows cardholders to earn Asia Miles, which can be redeemed for flights, upgrades, and other travel-related rewards. Cardholders receive 1 Asia Mile per CAD $1 spent on eligible transactions directly with Cathay Pacific, and 1 Asia Mile per CAD $2 spent on other eligible purchases. There are no specific reward rates for different categories like dining, travel or grocery spending, with the exception of transactions with Cathay Pacific for an accelerated earning rate.
2. Benefit 1: Complimentary Green membership
Cardholders enjoy Green Tier membership in the Marco Polo Club, Cathay Pacific’s loyalty program. This grants them priority reservation waitlist status and priority airport standby.
3. Benefit 2: Welcome bonus miles
New cardholders receive a welcome offer of 15,000 Asia Miles after spending CAD $6,000 in the first three months. This can be a useful head-start to earn rewards for future travel.
4. Benefit 3: Annual bonus miles
Cardholders receive 2,000 bonus Asia Miles when they renew their card each year, further increasing their opportunity to earn travel rewards.
5. Benefit 4: Travel Insurance and purchase protection benefits
The card includes comprehensive travel insurance with benefits such as trip cancellation/interruption, emergency medical, and baggage loss/delay coverage. It also provides purchase protection and extended warranty for eligible purchases made with the card.
6. Drawback 1:
The RBC Cathay Pacific Visa Platinum has a relatively high annual fee of CAD $120. This can negate some of the benefits received if the cardholder does not accumulate a significant number of Asia Miles through regular spending.
7. Drawback 2:
Asia Miles generally have the highest value when redeemed for flights or upgrades on Cathay Pacific or partner airlines. The card may not be as useful for those who do not frequently fly with these carriers or have other preferences for earning and redeeming travel rewards.
8. Additional Information:
Cardholders can transfer RBC Rewards points to Asia Miles at a rate of 1:1, offering more flexibility in earning rewards. Overall, the RBC Cathay Pacific Visa Platinum credit card is a suitable choice for frequent travellers who often use Cathay Pacific or its partners and can maximize the returns on Asia Miles redemptions.
Is the RBC Cathay Pacific Visa Platinum not convincing you? Consider the RBC RateAdvantage Visa or the WestJet RBC World Elite MasterCard. Still not the right credit card? Make sure not to miss the RBC Cash Back Mastercard.
FAQ
Key benefits
- 1:1 Asia Miles earning on Cathay Pacific & travel-related expenses
- 1:2 Asia Miles on all other purchases
- 35,000 Asia Miles welcome bonus (minimum expenditure conditions apply)
- Annual companion fare: Economy Class to select Asian destinations
- Complimentary 12-month Green Tier Membership, Marco Polo Club
- 2 Plaza Premium Lounge passes per year
- Inclusive travel insurance (cancellation, interruption, baggage delay)
- Annual fee of $120
- Redeem miles with Cathay Pacific, Dragonair, & selected airlines
- 19.99% interest on purchases, 22.99% on cash advances
- 2.5% foreign currency conversion fee
- Variable rate earning system (May require focused attention)
