RBC Cash Back Mastercard review
- Welcome Offer
- Up to 7% cash back
- Rewards
- Up to 2% cash back
- Annual Fee
- $0
- Purchase Interest Rate
- 20.99%
- Cash Advance Rate
- 22.99% (21.99% for Quebec residents)
Summary
The RBC Cash Back Mastercard lets you earn unlimited cash back with no annual fees.
The RBC Cash Back Mastercard lets you rack up rewards on all your purchases with no limit on how much you can earn. But the perks are limited, so you might want to look elsewhere if you want a credit card that comes with travel benefits, concierge services and other premium features.
Best for: Earning cash back on grocery purchases while avoiding an annual fee.
Pros
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No annual fee
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Cash back rewards
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No fee for additional cardholders
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Gas savings & accelerated Petro-Points at Petro-Canada
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Purchase security & extended warranty coverage
Cons
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Only earn 2% cash back on the first $6,000 of grocery purchases
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Low 1% standard cash back rate
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Fee to add perks like optional travel insurance & balance protection
The basics
The RBC Cash Back Mastercard is designed to give you unlimited cash back on every purchase you make. For the first $6,000 you spend each year, you’ll earn 2% cash back at the grocery store and up to 1% on all other qualifying purchases.
As an RBC credit cardholder, you also have the option to pay extra for add-ons like balance protection insurance, optional travel insurance, identity protection and roadside assistance.
The perks
- Unlimited cash back. The RBC Cash Back Mastercard has no limits on how much cash back you can earn. Get up to 2% cash back on grocery store purchases and up to 1% cash back on all other qualifying purchases and pre-authorized bill payments.
- No annual fee. Unlike other cash back credit cards, this one has no annual fee for the primary cardholder or any additional cards on the account.
- Safety. Purchase Security and Extended Warranty Insurance protects purchases made on your card against loss, theft or damage for up to 90 days, while also doubling the manufacturer's original Canadian warranty for up to one extra year.
- Fuel savings and DoorDash discounts. Link your card to Petro-Canada to save 3¢/L on fuel and earn 20% more Petro-Points. Get 50 Be Well points per $1 spent at Rexall. Enjoy a free 6-month DashPass subscription with DoorDash, and get unlimited $0 delivery fees on pre-tax orders of $15+ when you pay with your card.
What to watch for
- Cap on the highest cash back reward rate. Unlimited cash back only applies to the lowest cash back tier of 1%. You can only earn 2% cash back for the first $6,000 worth of grocery purchases, then the reward rate drops to 1%.
- Minimum cash back redemption. Cash back rewards won’t be credited to your account until you reach a $25 threshold.
- Limited perks. The RBC Cash Back Mastercard doesn’t come loaded with complimentary features like travel medical insurance, car rental discounts, balance protection or road assistance. But you can add some of these perks for a fee.
RBC Cash Back Mastercard interest rates
| Interest type | Interest rate |
|---|---|
| Purchase interest rate | 20.99% |
| Cash advance rate | 22.99% (21.99% for Quebec residents) |
What should I know before I apply?
To apply for an RBC Cash Back Mastercard, you need to have the following information on hand and meet the following criteria:
Eligibility requirements
- Be a Canadian citizen or permanent resident
- Be the age of majority in your province/territory of residence (18 or 19)
Required documents and information
- Your name, residential status and contact information
- Your Social Insurance Number (SIN) and date of birth
- Your email address and phone number
How to apply
- Head to RBC's website, and select Apply Now.
- Fill out the credit card application, which should take around five minutes to complete. Once submitted, you’ll receive a decision in about a minute.
Bottom line on the RBC Cash Back Mastercard
The RBC Cash Back Mastercard offers an easy and convenient way to earn cash back on everyday purchases. While you won’t earn as much outside the grocery store, you can still rack up rewards if you use the card regularly—and save on gas while you’re at it. Additional incentives to sign up for this card include no annual fee for the primary cardholder and no annual fees for additional cardholders.
Compare the RBC Cash Back Mastercard with alternative credit cards
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