Is the Royal Caribbean Visa Signature credit card worth it? | April 2018

Review: Royal Caribbean Visa Signature® Credit Card – April 2018

Bonus points at signup are generous, but rewards for spending are weak compared with other travel cards.

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  • Get this card if… you cruise with Royal Caribbean, Celebrity Cruises or Azamara Club.
  • Pick something else if…you want more options in redeeming points for rewards.
  • Recommended excellent credit score of 720 to 850.
Product NameRoyal Caribbean Visa Signature® Credit Card
Balance Transfer Rate (not intro)14.24% to 24.24% variable
APR for Purchases ( Purchase Rate )14.24% to 24.24% variable
Annual fee$0
Cash Advance Rate17.24% to 26.24% variable
Card TypeVisa
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 25 days
Returned Payment Fee$27
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value
Minimum Interest$1.50
Minimum Credit ScoreGood (700-739)
Minimum Age18 years of age
Annual fee$0
Returned Payment Fee$27
Late Payment Fee$38
Cash Advance Fee$10 or 3% of the amount of each transaction, whichever is greater
Rewards ProgramBank of America
Bonus Points on Sign-up10,000
Rewards Points per $ spent (VISA/MC)2
Points ExpiryNever

Among a series of travel cards offered by Bank of America is the Royal Caribbean Visa Signature Credit Card, offering rewards toward credits, excursions and more with Royal Caribbean and its sister brands.

It’s smooth sailing at the start, with 10,000 MyCruise points with any purchase made in the first 65 days of account opening. But with 2x points for purchases with Royal Caribbean and 1x points for all other spending, you can find stronger rewards with other travel cards.

The Basics

The Royal Caribbean Visa Signature Credit Card could work well for you if you’re one of those lucky people who plan to cruise with Royal Caribbean: The easily earned 10,000 MyCruise bonus points equal $100 in onboard credit. On board Royal Caribbean, Celebrity Cruises and Azamara Club, you’ll earn 2x points for qualifying purchases. But everyday spending earns you just 1x points toward future travel.

The no annual fee works in your favor, as does the card’s $0 overseas transaction fee. You’ll also receive a $50 Air2Sea airfare discount if you spend $3,500 on purchases in the first 90 days of account opening.

The Perks

  • Signup bonus. Get 10,000 MyCruise points after your first purchase within 65 days of account opening, as well as a $50 Art2Sea discount when you spend $3,500 in the first 90 days — easily earned if you haven’t yet bought tickets for your upcoming cruise. Your points are credited to your account 6 to 8 weeks after you qualify for the card.
  • Points rewards. Earn 2x points on qualifying purchases with Royal Caribbean, Celebrity Cruises and Azamara Club. All other purchases fetch you 1x points.
  • Redeem points. Redeem points through MyCruise Rewards for cruise vacations, onboard credit, stateroom upgrades, discounted companion fares and more on Royal Caribbean, Celebrity Cruises and Azamara Club.
  • No annual fee. The Royal Caribbean card comes with no annual fees for life.
  • No foreign transaction fees. When you use this card outside of the US, you’ll pay no foreign transaction fees.

You’ll also like …

  • Visa Signature benefits. Get auto rental collision damage waiver, roadside dispatch, travel and emergency assistance services and round-the-clock access to Visa Signature Concierge.
  • Security and protection. The card comes with chip technology for enhanced protection and offers a $0 liability guarantee for fraudulent transactions.
  • Points good for five years. You’ll have up to 60 months to use your MyCruise points before they expire, giving you plenty of time to plan your next sea adventure.

What to watch out for

  • Weak rewards program. Loyalty benefits are overwhelmingly for one thing: high-end cruises. You’ll find better general travel rewards with other cards.
  • Penalties. A late payment can set you back by $38 and accrue a long-time penalty APR of up to 29.99% variable. Returned payments come with penalties of up to $27.00.

Consider other cards if …

  • You don’t cruise with Royal Caribbean or sister brands. If you aren’t planning to sail the high seas anytime soon, you’re better off with a rewards card that rewards you for general travel.
  • You want cash back. If you’re looking to redeem points for cash back or statement credit, find a suitable cash back card instead.

What to know before you apply

Apply for the Royal Caribbean Visa Signature card if you’re:

  • At least 18 years old.
  • A US citizen or permanent resident.

Always consider your options and your financial situation before you apply for a credit card.

What credit score do I need?

The chances of your application’s approval increase with an excellent credit score of 720 or higher.

How to apply for the card

1. On the Royal Caribbean Visa Signature Credit Card website, click Apply Now.

Royal Caribbean Credit Card step 1

2. Provide your personal information and financial details. Click Review your information.

Royal Caribbean Credit Card step 2a

Royal Caribbean Credit Card step 2b

Royal Caribbean Credit Card step 2c

Royal Caribbean Credit Card step 2d

3. Confirm that your information is correct and submit your application.

How long will it take to be approved?

Bank of America’s online conditional approval system informs you of your application’s status nearly immediately.

I got the card. Now what?

  • Turn to online banking. Use Bank of America’s online banking platform to pay your statement and check your available credit 24/7.
  • Avoid unnecessary interest. Bank of America gives you 25 grace days after each billing cycle to pay for your purchases with no interest
  • Avoid fees. Late and returned payments come with stiff penalties of up to $38. Balance transfers come with fees as well.
  • Customer service. Speak to a customer service representative at 800-732-9194 or get online assistance via Ask Jenn. You can also connect with BofA on Twitter @BofA_Help or Facebook @BankofAmerica.

Bottom line

Getting the Royal Caribbean Visa Signature Credit Card makes sense only if you’re the cruising kind and use the services of Royal Caribbean, Celebrity Cruises or Azamara Club. Otherwise, you’ll find better rewards credit cards — overall and brand specific — out there.

Common questions about the Royal Caribbean Visa Signature Credit Card

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4 Responses

  1. Default Gravatar
    RonMarch 3, 2018

    What is the minimum purchase to get the $100 shipboard credit and 10,000 points?

    • Staff
      RonMarch 29, 2018Staff

      Hello Ron,

      Good day! Appreciate you contacting finder regarding your inquiry today.

      Get 10,000 MyCruise points after your first purchase within 65 days of account opening, as well as a $50 Art2Sea discount when you spend $3,500 in the first 90 days — easily earned if you haven’t yet bought tickets for your upcoming cruise. Your points are credited to your account 6 to 8 weeks after you qualify for the card. Please note that the 10,000 MyCruise points equal $100 in onboard credit.

      Hope this helps!

      All the best,
      Ron

  2. Default Gravatar
    AudreyJuly 29, 2017

    I already have a banking account with Bank of America. How do I get a Royal Caribbean Visa Signature® Card? What is the fee? what are the perks? ie, 10,000 points for enrolling. Does the card have protection, security, fraud, . What about travel insurance- lost baggage?medical protection while travel?

    • Staff
      HaroldJuly 30, 2017Staff

      Hi Audrey,

      Thank you for your inquiry.

      1. To apply for this card you must:
      – At least 18 years old.
      – A resident of the US.

      2. Fees that may apply
      – Annual fee $0
      – Returned Payment Fee $27
      – Late Payment Fee $38

      3. Security and protection. The card comes with chip technology for enhanced protection and offers a $0 liability guarantee for fraudulent transactions.

      4. Signup bonus. Get 10,000 MyCruise points after your first purchase in 65 days of account opening as well as a $50 Art2Sea

      I hope this information has helped.

      Cheers,
      Harold

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