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RBC Visa Platinum Card review

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RBC Visa Platinum Card
Welcome Offer
N/A
Rewards
N/A
Annual Fee
$0
Purchase Interest Rate
20.99%
Cash Advance Rate
22.99%
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Summary

Get a high credit limit without the annual fee with the RBC Visa Platinum card. 

The RBC Visa Platinum Card offers value without having to pay a premium to get it. Customers can qualify for an ultra-high credit limit and receive premium insurance coverage with no annual fee to worry about.

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When picking a Canadian credit card, there’s usually a trade-off between value and features. The RBC Visa Platinum Card offers value without having to pay a premium to get it. Customers can qualify for an ultra-high credit limit and receive premium insurance coverage with no annual fee to worry about.

If you’re looking for a credit card that offers flexibility and lets you carry a high balance, consider the RBC Visa Platinum.

30-second take

  • Consider getting this Visa if you’re looking for a reliable credit card with premium insurance coverage.
  • Remember that carrying a credit card balance comes at a cost; this RBC card charges high interest rates for purchases and cash advances.
  • You must be a Canadian resident and the age of majority in your province to apply for the card.

The basics

The RBC Visa Platinum Card doesn’t have all the bells and whistles of some of the more premium rewards cards, but it makes up for it where it matters most – in purchasing power. If you qualify, you can get up to $50,000 in credit Primary cardholders also qualify for personalized offers at leading retailers so you can save money while shopping.

Like other RBC credit cards, the RBC Visa Platinum credit card provides several value-added services, including balance protector insurance, identity protection and roadside assistance.

The perks

  • High balances available. Depending on your income and credit score, you can get up to $50,000 in credit with this Visa.
  • No fees. Pay zero annual fees on your primary card and first supplementary card.
  • Premium insurance coverage. Travel, car and eligible purchases – the RBC Platinum Visa insures them all.
  • Instant fuel savings. By linking your card to Petro-Canada, you can save 3 cents per litre on fuel and earn 20% more Petro-Points

What to watch for

  • High interest rates. Carrying a balance on this card will end up costing you. Be prepared to pay an industry standard 20.99% interest on purchases and 22.99% on cash advances.
  • Vague rewards. With so many rewards cards to choose from, this RBC Visa is vague on the types of personalized offers you’ll get.

RBC Visa Platinum Card interest rates

Interest TypeInterest Rate
Purchase interest rate20.99%
Cash advance rate22.99%

What should I know before I apply

How to apply

  1. Visit the RBC Visa Platinum webpage.
  2. Click “Apply Now.”
  3. Fill out the standard credit card application, which should take five minutes to complete.

The bottom line

The RBC Visa Platinum Card offers a no-nonsense approach to building your credit without compromising on core features like premium insurance and travel assistance. If you value flexibility and high credit limits over rewards and cashback options, this RBC Visa could be a good bet. If you’re really into rewards, read up on RBC Offers before you get this piece of plastic.

Compare other credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC ION Visa
3,500 points
1.5 points per $1 spent
20.99%
$0
Min. recommended credit score: 660
Get 3,500 Avion points when you get approved for the card.
Neo Credit Mastercard
Get $25.00 + up to 15% cash back
Up to 5% cash back
19.99% - 29.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at partner stores and at least 1% cashback guaranteed.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
American Express Cobalt Card
15,000 points
Up to 5x points per $1 spent
21.99%
$155.88
Min. recommended credit score: 700
Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
RBC Cash Back Mastercard
N/A
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 650
RBC ION+ Visa
7,000 points
3 points per $1 spent
20.99%
$48
Min. recommended credit score: 660
Get up to 7,000 welcome points. Get 3,500 points on approval and earn 3,500 bonus points when you spend $500 in your first 3 months.
BMO eclipse rise Visa Card
25,000
Up to 5 points per $2 spent
20.99%
$0
Min. recommended credit score: 660
Earn up to 25,000 bonus points.
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
13.99%
$0 annual fee for the first year ($29 thereafter)
Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year.
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