RBC Cash Back Preferred World Elite Mastercard review
- Welcome Offer
- N/A
- Rewards
- Up to 1.5% cash back
- Annual Fee
- $99
- Purchase Interest Rate
- 20.99%
- Cash Advance Rate
- 22.99%
Our verdict
Get unlimited cash back on your purchases plus rewards with the RBC Cash Back Preferred World Elite Mastercard.
The RBC Cash Back Preferred World Elite Mastercard is one of the easiest ways to earn cashback on all your purchases – big or small. Earn unlimited 1.5% cash back on all eligible purchases. If you don't want to worry about what to buy to maximize your cash back rewards, this RBC card could be a good option.
Best for: Those whose top priority is unlimited cashback on everyday purchases.
Pros
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Earn unlimited 1.5% cashback on eligible purchases
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Access Mastercard World Experience, concierge services and Boingo Wi-Fi hotspots
Cons
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No welcome offer
-
This card has an annual fee of $99
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You'll need to earn a personal income of $80,000 per year to be eligible for this card
The basics
The RBC Cash Back Preferred World Elite Mastercard lets you earn a certain percentage of cash back on your spending. While it doesn’t offer the highest rate of return, it compensates by giving you no limit on how much cash you can get back or how many rewards you can accumulate. Regardless of how much or where you spend, this RBC card will let you rack up the rewards and track them over time.
You can cash out your credits any time you reach $25 or let your balance accumulate throughout the year for a cash back credit in February. In addition to unlimited cash back rewards, you can link the card to Petro-Points at Petro-Canada, which allows you to save three cents per litre on fuel.
The perks
- Unlimited cash back. Earn up to 1.5% cash back on all eligible purchases. This RBC cash back card is really unlimited, which means there’s no upper cap on how many cash credits you can receive.
- Lots of perks. As a Mastercard holder, you’ll receive many special benefits, such as Mastercard World Experience, concierge service and access to Boingo Wi-Fi hotspots around the globe.
- No fee for additional cardholders. You can add an additional card on your account with zero annual fee.
- Instant fuel savings. Link your card and instantly save 3¢/L on fuel at Petro-Canada and always earn 20% more Petro-Points. Get 50 Be Well points at Rexall for every $1 spent on eligible products and redeem your points faster with 25,000 Be Well points for $10. Plus, save at DoorDash with $0 delivery fees for 12 months and get unlimited deliveries with $0 delivery fees on orders of $15 or more when you pay with your eligible RBC credit card
What to watch out for
- Sliding scale earnings. You are only eligible for a percentage of cash back up to a certain maximum per year. Purchases above that level earn you a lower percentage in cash back credits.
- Fees. This RBC Visa card does carry an annual fee of $99.
- High barrier to entry. To be eligible for this card, you need to have a minimum personal income of $80,000 or a minimum household income of $150,000.
RBC Cash Back Preferred World Elite Mastercard interest rates
| Interest Type | Interest Rate |
|---|---|
| Purchase interest rate | 20.99% |
| Cash advance rate | 22.99% |
| Standard balance transfer rate | 22.99% |
What should I know before I apply?
How to apply
- Click the ‘Apply Now’ button above.
- Fill out the standard credit card application, which should take five minutes to complete.
Bottom line
The RBC Cash Back Preferred World Elite Mastercard has a high barrier to entry. If you meet the minimum income requirements, you can use this card to earn cash back rates on any type of purchase. Earn up to 1.5% cash back on all eligible purchases.
