The RBC Cash Back Mastercard is an excellent choice for anyone looking for a simple, no-annual-fee credit card that offers unlimited cashback on all purchases. It’s a great option for people who want to earn rewards on everyday spending without worrying about complicated categories or limits. Whether it’s groceries, gas, or regular bills, the cashback adds up quickly, and you don’t have to deal with the hassle of tracking rotating categories or special offers.
With the ability to earn 2% cashback on supermarket purchases up to $6,000 annually, and 1% on everything else, this card offers straightforward rewards that fit into your daily routine. The cashback is easy to redeem, either manually or automatically applied to your January bill, so you don’t have to think twice about how to use your earned rewards. It’s a simple, no-fuss way to save on things you already buy.
Key information about the credit card
The RBC Cash Back Mastercard provides a cashback rate of up to 2% on supermarket purchases, which is one of its standout features. If you spend heavily on groceries, this card will reward you with a higher percentage back compared to other spending categories. For all other purchases, you earn 1% cashback, which is still a good return on your spending.
This card has no annual fee, which makes it even more appealing. It allows you to accumulate cashback on your everyday purchases without the added cost of a yearly fee. Plus, it offers purchase protection, including an extended warranty on many items purchased with the card. This coverage ensures your purchases are protected against damage or defects for up to 90 days, adding extra value to your experience.
How does the annual fee work?
One of the most attractive features of the RBC Cash Back Mastercard is that it doesn’t charge an annual fee. This is particularly beneficial for those who want to enjoy the rewards without having to pay for the privilege. Many other credit cards charge high annual fees, but with this card, you can earn cashback without the burden of an additional yearly cost. By removing the annual fee, RBC makes it easier for cardholders to focus on earning cashback rather than worrying about how much they’ll pay for the card each year.
How is the credit limit determined?
The RBC Cash Back Mastercard is a traditional credit card, which means your credit limit is based on your creditworthiness. When you apply for the card, the bank will assess your credit history and financial situation to determine your credit limit. This is typical for most credit cards, as it ensures that your limit aligns with your ability to pay it off. Unlike prepaid cards, where you set the limit by loading money onto the card, the RBC Cash Back Mastercard gives you a limit that reflects your financial standing.
Advantages and disadvantages of the credit card
The RBC Cash Back Mastercard comes with several advantages, particularly the ability to earn cashback on all purchases, with no complicated categories or restrictions. The 2% cashback on supermarket purchases is especially valuable for families and individuals who spend a lot on groceries. This fact that it has no annual fee is another major plus, making it an affordable option for those who want to earn rewards without paying extra.
However, the RBC Cash Back Mastercard has a few limitations. The cashback rate is capped at 2% for supermarket purchases up to $6,000 annually. After reaching this limit, you’ll earn the standard 1% cashback. Additionally, the card doesn’t offer higher cashback rates in other specific categories, so if you’re looking for a card that rewards you for things like dining or travel, this might not be the best option.
| Pros | Cons |
|---|---|
| Up to 2% cashback on supermarket purchases | Cashback capped at $6,000 for groceries annually |
| No annual fee | Only 1% cashback on non-supermarket purchases |
| Purchase protection and extended warranty coverage | No high-reward categories like dining or travel |
| Simple cashback structure | Limited rewards outside of grocery spending |
Who can apply for this card?
The RBC Cash Back Mastercard is available to Canadian residents who are at least 18 years old. The application process is straightforward, and there’s no requirement for perfect credit, which makes it accessible to a broad range of applicants. Whether you’re new to credit or already have an established credit history, you can apply for this card online.
You don’t need an excellent credit score to be approved, but the amount of credit you are given will depend on the bank’s thorough evaluation of your financial profile and credit history. If you’re approved, you’ll receive a credit limit that matches your financial situation, and you can start using the card to earn cashback right away, enjoying the benefits as soon as you make your first purchase.
How to apply for the card?
Applying for the RBC Cash Back Mastercard is quick and easy. You can apply directly through the RBC website by filling out an online form with your personal and financial information. The process is fast, and you’ll typically receive a decision in just a few minutes. Once approved, your card will be sent to you, and you can start using it immediately.
Everything can be done digitally, which means there’s no need to visit a branch or wait in line. The whole process is designed to be quick, convenient, and completely paperless, allowing you to complete your application from the comfort of your own home at any time, without the hassle of scheduling appointments or waiting for business hours.
Via website
To apply online, visit www.rbc.com, click on “Apply Now,” and fill out the necessary details. After submission, you’ll receive a response about your application status, usually within a few minutes, and in most cases, the approval decision will be provided almost instantly. You’ll then be notified about your credit limit, and once approved, the card will be mailed to your address so you can start using it right away to earn cashback on your everyday purchases.
Via app
Alternatively, you can apply for the RBC Cash Back Mastercard through the RBC mobile app. Just open the app, sign in, and select the option to apply for the card. The process is fast and simple, and you’ll have everything you need right at your fingertips, including the ability to track your application status and receive instant notifications about your approval.
In store or branch
At this time, the RBC Cash Back Mastercard can only be applied for online or via the mobile app. It is not available for in-store applications, which makes the process more streamlined and faster for those who prefer to handle everything digitally. By using the online application or app, you can easily track the status of your application, receive immediate updates, and access all relevant information about your application and approval process, making it a quick and convenient way to get your card.
