Last week the Royal Bank of Canada (RBC) launched two new credit cards; the new credit cards launched are two cash back MasterCards.
Today, I am going to go through what the RBC Cash Back MasterCard has to offer.
To start things off, I have prepared a table outlining the basic information that the RBC Cash Back MasterCard has to offer:
|RBC Cash Back MasterCard|
|Cash Back Rate||- Earn 2% Cash Back credits on grocery store purchases
- Earn up to 1% cash back credits on all other purchases and pre-authorized payments
|Benefits||Get Cash Back credits when you need it; you can receive the full amount on your cash back credits whenever your balance reaches of $25, or let it accumulate all year and collect on your January statement|
As you can see, RBC’s new credit card is none other than a no fee cash back rewards credit card.
The cash back reward rate is pretty good in my opinion considering the fact that you do not have to pay an annual fee.
The cash back rate is 2% for grocery store purchases, and up to 1% for all other purchases. As with most cash back credit cards, there tends to be a cap on how much you can earn.
With the RBC Cash Back MasterCard, the 2% cash back rate maximum is $6,000 per annual period, and from there you will earn 1% cash back credit if you make in excess of $6,000.
As I previously mentioned, you can earn up to 1% cash back on all other purchases. That being said you can earn 0.5% cash back credit in net purchases you make up to a maximum of $6,000. When you spend in excess of $6,000 you will earn 1% cash back rate.
How does this Cash Back Credit Card compare to Other Cash Back Credit Cards?
In my opinion, I find that the RBC Cash Back MasterCard is great for anyone looking to earn cash back rewards, without having a cost to it. Most no fee cash back credit cards offer up to 1% cash back rate, however this particular credit card offers a much better rate.
Another great features of the RBC Cash Back MasterCard is the fact that you can get cash back credits whenever you need them; you can receive the full amount every time your cash back credits balance exceeds $25. You also have the option to let it accumulate all year for a cash back credit on your January statement.
Personally, I would see this card suiting anyone looking to build their credit while at the same time earn a good cash back rate.
What do you think of the RBC Cash Back MasterCard?