The Royal Bank of Canada is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 16 million clients worldwide. In addition, the bank has 86,000+ employees.
RBC has different divisions like personal and commercial banking, wealth management, investor and treasury services, and capital markets and insurance. As such a large banking institution, RBC offers a variety of products and services.
In this article, we will look at one of their credit cards. Specifically, we will be discussing the RBC Cash Back Credit Card. To learn more about the rates and fees of this card, as well as how to apply, continue reading below.
RBC Cash Back Credit Card Benefits and Features
As the name says, this card makes it easy and convenient to earn cashback. Get 2% cashback on grocery store purchases and up to 1% cashback on all other qualifying purchases and pre-authorized payments.
There is no limit to what you can get back. That’s right – you can get unlimited cashback. Plus, your rewards accumulate automatically so you don’t need to keep track.
Link your card and instantly save 3¢/L on fuel, earn 20% more Petro-Points at Petro-Canada. You can lock your RBC credit card temporarily at any time. To use Credit Card Lock if you’ve misplaced your card, simply login to the RBC Mobile app and choose the card you want to lock.
The balance protector premiere feature protects you in the event of loss of life, critical illness, and accidental dismemberment. A lump-sum payment of up to $25,000 can be paid towards your account balance.
Further, coverage for the spouse is included (except for residents of Quebec). You also get coverage of total disability, involuntary unemployment, and loss of self-employment income.
RBC’s “FirstReport” feature runs on the technology that helps safeguard over 500,000 Canadians against the fallout of identity theft and online fraud.
It covers online monitoring of underground and black-market websites to identify signs of suspicious activity related to your registered personal and financial information and send you first-hand information as alerts.
In addition, you get roadside and towing assistance in case of a vehicular breakdown, whether you own or rent a car.
Also, you can add the entire family at no extra cost– you, your spouse, and children aged 16-22. The card even provides you with traffic accident services 24/7!
RBC Royal Bank credit cards also give you some travel insurance coverage if you pay for your trip in full with your card.
They can help make sure you’re protected financially every time you travel with affordable trip cancellation and interruption insurance, emergency medical insurance, and more.
Fees Structure and Interest Charges
Before applying for any financial product, it is important to understand the rates and fees involved. Below, you can view some of the most important rates and fees of the RBC Cask Back Credit Card.
· Annual Fee: $0
· Additional Card: $0
· Purchase Rate: 19.99%
· Annual Interest Rate: 19.99%
· Cash Advances: 22.99%
· Interest-free Grace Period: 21 days
· Minimum Payment: $10 + interest & fees
· Foreign Currency Conversion: 2.5%
· Other Fees: $ 3.50
How to apply to the RBC Cash Back Credit Card
To apply, simply click here and click on get started. Choose if you already are an RBC Bank customer or not. Next, have a look at the rates and fees page and click continue. From here on, the process is straight forward.
All you need to do is fill out details about yourself. Be prepared to provide contact information as well as details about your incomes and expenses during the application process.
How to Contact the Bank
To find out more about the RBC Cash Back Credit Card, it is advisable to contact the bank directly. The Royal Bank of Canada can be contacted using the following details.
Address: 200 Bay Street P.O. Box 1, Royal Bank Plaza Toronto, ON M5J 2J5 Canada
This was a closer look at the RBC Cash Back Credit Card. Make sure to weigh the benefits against the rates and fees when determining whether or not this card is right for you!
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions page before agreeing to anything.