10 Best RBC Credit Cards in Canada for 2024
Aug 28, 2024The best RBC credit card options in Canada include several co-branded cards that are especially popular among those looking to earn travel rewards.
The Royal Bank of Canada, commonly known as RBC, is one of Canada’s ‘Big Six’ banks. The issuer offers a range of credit cards, such as cashback, travel and rewards cards. Here are the best RBC credit cards.
Best RBC credit cards in Canada
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What cardholders should know about the HSBC acquisition
On March 28, 2024, RBC completed the purchase of HSBC Bank Canada and its subsidiaries and transitioned HSBC credit card customers to comparable RBC cards. Migrated members who were unhappy with their new credit cards were also given the opportunity to switch to different RBC cards, assuming they qualified.
Here’s a brief look at what the RBC-HSBC deal looked like for customers who migrated:
Things that stayed the same
Some things carried over during the migration, with little to no disruption for cardholders. These included:
Outstanding card balances.
Authorized users.
Automatic payments.
Cash-back rewards.
Addresses, phone numbers and other personal account information.
Some things that changed
Interest rates, fees, and earn rates. In communications to HSBC customers, RBC expressed that it had tried to offer comparable credit cards to migrated members. However, a perfect product match didn’t exist in every case, so some HSBC cardholders experienced changes in interest rates, fees, earn rates and other key product features.
Identification numbers. Former HSBC members were assigned new account, card and personal identification numbers (PINs) to go with their RBC credit cards.
Communication preferences. Cardholders who previously received e-statements from HSBC had to re-enroll in paperless statements with RBC.
Reward programs. HSBC Rewards points were converted to RBC Avion points at a 1:1 ratio.
Insurance coverage. Former HSBC customers were asked to review their new credit cards’ insurance coverage to ensure it met their needs.
RBC credit cards: Types, features and cost
RBC credit card options include co-branded cards, cashback cards and rewards cards, among others. RBC’s proprietary travel rewards program, Avion Rewards, allows users to redeem points for travel, merchandise and more.
Types of RBC credit cards
RBC’s collection of credit cards includes a large array of travel rewards cards, as well as cards specifically designed for students and businesses. Here are some of the main types of cards offered by RBC.
RBC Mastercard and RBC Visa
RBC uses both Visa and Mastercard networks for its cards. At the time of this writing, RBC offers five Mastercards and 15 Visas.
RBC cash-back cards
Cash-back credit cards let you earn a set amount of money back for each eligible purchase. RBC offers three cash-back cards, as of this writing:
RBC Cash Back Preferred World Elite Mastercard.
RBC® Cash Back Mastercard‡.
RBC® Business Cash Back Mastercard‡.
RBC travel credit cards
Travel credit cards help you earn travel rewards, such as Avion points or WestJet dollars, and often feature travel-friendly perks, like airport lounge access, priority boarding and travel insurance.
RBC offers nine travel credit cards, as of this writing:
RBC Avion Visa Infinite Privilege – A Luxury Travel Credit Card.
RBC Avion Visa Platinum.
RBC U.S. Dollar Visa Gold.
WestJet RBC Mastercard.
RBC® British Airways Visa Infinite‡.
RBC Avion Visa Infinite Business.
RBC Avion Visa Business.
RBC business credit cards
Business credit cards can help you manage your spending and earn rewards while running a business. RBC offers five business credit cards, as of this writing:
RBC Avion Visa Infinite Business.
RBC Avion Visa Business.
RBC® Business Cash Back Mastercard‡.
RBC Visa Business.
RBC Visa CreditLine for Small Business.
RBC student credit cards
If you’re attending a post-secondary school, student credit cards are worth considering, as they often have lower interest rates, low or no annual fees and can help you build credit. RBC offers six credit cards it deems suitable for students, as of this writing:
RBC ION Visa Credit Card.
RBC ION+ Visa Credit Card.
RBC® Cash Back Mastercard‡.
RBC Avion Visa Platinum.
moi RBC Visa.
WestJet RBC Mastercard.
RBC low-interest credit cards
Low-interest credit cards have lower-than-normal interest rates that can be useful if you know you’ll carry a balance or need to minimize debt. RBC offers three low-rate cards, as of this writing:
RBC® Visa‡ Classic Low Rate Option.
RBC RateAdvantage Visa Credit Card.
RBC Visa CreditLine for Small Business.
RBC no-fee credit cards
No-fee credit cards can be a good addition to your wallet, since there is no cost you need to recoup. RBC offers five cards without annual fees, as of this writing.
RBC ION Visa Credit Card.
moi RBC Visa.
RBC® Cash Back Mastercard‡.
RBC Visa Platinum.
RBC RateAdvantage Visa Credit Card.
Features of RBC credit cards
Interest rates
The purchase interest rate for RBC credit cards ranges from 12.99% to 20.99%. However, most of their cards sit at 20.99%. The bank offers two cards with a variable rate: the RBC Visa CreditLine for Small Business and RBC RateAdvantage Visa Credit Card.
The interest rate for cash advances on most of RBCs cards sits at 22.99%.
Annual fees
As mentioned above, all but five RBC credit cards charge an annual fee, as of this writing. The fees for RBC credit cards range from $0 to $399, as of this writing. Getting a card with an annual fee may be worth it if the value of the rewards you’ll earn exceeds the cost.
Rewards
Almost all RBC credit cards offer points or cash back rewards. The available reward programs include:
Avion points.
Westjet dollars.
Moi points.
Avios points (British Airways).
Cash back.
How to choose the best RBC credit card for you
When choosing any credit card, be sure to look for the eligibility requirements. It doesn’t make sense to apply for a credit card card that has age, location, income or credit score requirements you can’t satisfy.
Additionally, you should consider the following:
Annual fees. Cards that charge annual fees tend to have higher value perks than those that don’t. But be sure that the value of any rewards you’ll earn will offset the cost of the card.
Interest rate. You should always aim to pay off your credit card each billing period to avoid paying interest. But for various reasons, that may not always be feasible. If you know you tend to keep a balance on your card, it’s wise to look for a card with a lower interest rate.
Rewards or cash back. If your goal is to earn rewards, figure out which form of reward makes sense for you. Points or miles can be more lucrative than cash back but can be more complicated to redeem.
Who should get an RBC credit card?
RBC credit cards can be particularly attractive to those looking to earn Avion points. Depending on the card you select, you can earn between one and three points per CAD spent. Categories include groceries, gas, dining and more.
RBC cards may also appeal to jet-setters looking for a flexible travel rewards program that offers numerous redemption options, has no blackout dates and lets you transfer points to other loyalty programs.
Furthermore, RBC is the only financial institution that offers Canadians WestJet- and British Airways-branded credit cards — handy if you’re a frequent flyer on either airline.
How to apply for an RBC credit card
To apply for an RBC credit card, visit the bank’s website, then click on the “Apply Now” button for the card you want.
At this stage, RBC may list the income requirements to apply for a card. Be sure you meet these requirements before proceeding.
You’ll then be asked if you’re an existing client or not. If you already bank with RBC, the application process is much faster. You’ll log in to your pre-existing account, which already has your personal information, and go from there.
You’ll then be asked to review the card’s details, such as APR and annual fees, before clicking “Continue”.
When prompted, give your name and personal info, such as a phone number, email address, home address and birth date.
The bank will also ask about your rent or mortgage information, your employment status and history, as well as the name and phone number of your employer, as applicable. You’ll be expected to provide your income, how much (if any) you earn from investments and whether you pay alimony. A social insurance number is optional.
You may be asked to provide a personal identification word in case RBC needs to verify that they’re communicating with you.
You might also be asked if you want to add an authorized user. If you do, you’ll need to provide the person’s name, phone number and address, and select the person’s relationship to you (e.g., daughter or spouse).
Once you’ve provided all of the required info, you’ll be asked to review your application and the terms and conditions of the card before submitting it. Depending on the card, you may get a response in as little as 60 seconds, or the bank may have to review your details and contact you at a future date to let you know if your application was successful.
Frequently asked questions
How do I apply for an RBC credit card?
How do I apply for an RBC credit card?
You can apply for an RBC credit card online or by visiting a branch near you. It generally takes about seven to 10 business days to get your RBC credit card in the mail, once your application is approved.
How to activate an RBC credit card
How to activate an RBC credit card
You can activate your RBC credit card online or over the phone. Online activation can be completed via your online account or by visiting rbc.com/activate. Once you’ve activated the card, sign the back and destroy your old card, if applicable.
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