RBC Cash Back Mastercard: Up to 7% Cash Back, No Annual Fee, and More

The RBC Cash Back Mastercard is a compelling choice for Canadians who want to maximize everyday spending. This card features a competitive introductory offer: earn up to 7% cash back on as much as $1,000 in eligible purchases during your first three months. There’s no annual fee and you’ll benefit from a 20.99% interest rate on purchases. The ongoing rewards rate is up to 2% cash back on grocery shopping and up to 1% on other qualifying purchases. Cardholders also get savings at Petro-Canada and enjoy a complimentary DashPass trial for food delivery.

Step-by-Step: How to Apply

1. Find the application section on the provider’s site
2. Fill out the online application with your personal details
3. Submit your employment and income information
4. Review your details and confirm the terms
5. Submit the form and get an instant decision

Advantages

The no annual fee is a huge benefit, lowering your total cost of ownership. Additionally, the strong up-to-7% introductory rate makes it easy to boost rewards early, and the ongoing rates remain competitive for grocery and general spenders.

Other perks include savings on fuel at Petro-Canada and exclusive DashPass benefits, making this card attractive for a variety of lifestyles.

Disadvantages

A maximum of $1,000 in spending for the 7% cashback means the promotional period is best for those with moderate purchases. After three months, the highest rate is limited to groceries.

There are also no premium travel or insurance benefits, so cardholders looking for more robust perks may find it limiting compared to some higher-tier credit cards.

Verdict

Overall, the RBC Cash Back Mastercard is a solid, beginner-friendly credit card for those who want to earn cash back on their everyday expenses without the burden of annual fees. It’s especially enticing for new applicants looking to score a quick reward boost and steady savings.