Pros & cons
Pros
- Up to 2% cash back on groceries.
- No annual fee.
- Save 3 cents per litre on fuel at Petro-Canada.
Cons
- Can earn as low as 0.5% cash back on other purchases.
- Limited insurance included.
Your rewards
Getting your welcome bonus
Based on $2,000 in monthly spending, you can get up to an estimated $30.◊
For all welcome bonus details click here.
How you earn rewards
Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With RBC Cash Back Mastercard, here's how you earn rewards:
- 2% cash back on groceries on the first $6,000 spent annually
- 1% cash back on groceries on $6,000+ spent annually
- 0.5% cash back on the first $6,000 spent annually
- 1% cash back on $6,000+ spent annually
For all reward details click here.
How much your rewards are worth
The dollar value of your rewards depends on the specific rewards program ‒ and what you choose to redeem your points for. For RBC Cash Back Mastercard in particular, if you spend $2,000 per month, here's our estimated annual rewards earned depending on which reward you choose:
| Statement credits | $252 |
Calculating your annual rewards
$24,000 annual spending x 1.05% return on spending = $252 annual rewards
$252 annual rewards − $0.00 annual fee = $252 net annual rewards
Details and eligibility
- Estimated Credit Score
- 660 - 724
- Personal Income
- N/A
- Household Income
- N/A
- Annual Fee
- $0.00
- Extra Card Fee
- $0
- Card type
- Credit
- Purchase
- 20.99%
- Cash Advance Δ
- 22.99%
- Balance Transfer
- 22.99%
Insurance coverage
- Extended Warranty
- 1 year
- Purchase Protection
- 90 days
Please review your insurance certificate for details, exclusions and limitations of your coverage, terms and conditions apply.
Learn more about the value of credit card insurance coverage.
Genius Rating
RBC Cash Back Mastercard's 4.1 Genius Rating is based on the weighted average of the following scores:
Methodology
All scores are produced by our math-based rating algorithm that takes into account over 126 credit card features.
Top cards from RBC
RBC Cash Back Mastercard review
For a no fee, cash back rewards credit card, RBC offers the RBC Cash Back Mastercard.
What does this credit card have to offer? And how does this compare to its big brother – the
Here are the answers to those questions.
Earning rewards with the RBC Cash Back Mastercard
The RBC Cash Back Mastercard is a no fee cash back credit card.
Here's what you'll be earning for cash back on your purchases:
- 2% cash back on your first $6,000 spent on grocery store purchases,
- 0.5% cash back on your first $6,000 spent on all other purchases, and
- 1% cash back on all other spending.
How do you get your cash back? It's automatically applied every January as a statement credit, provided you have at least $25 in accumulated rewards.
However, you can also request your cash back rewards to be deposited to your account whenever you like, as long as you've earned at least $25 worth of rewards.
4 benefits to the RBC Cash Back Mastercard
What benefits does this credit card bring to the table? Here are 4 things we like about it.
1. High earn rate on groceries
There aren't many no fee cash back credit cards that let you earn 2% back on groceries, even if it is capped at $6,000 in annual spend.
And as a bonus, since it's a Mastercard, you'll earn 2% back when shopping at a Walmart Supercentre, since Mastercard categorizes it as a grocery store.
2. Redeem cash back on demand
Many cash back credit cards only pay out your cash back rewards once per year, and not at a time of your choosing.
And while that's the default setting for this credit card, you can request a payout of your rewards whenever you want, so long as you have $25 of cash back accumulated.
3. RBC credit card benefits
There are 2 big benefits to this credit card, which are typical of all RBC credit cards.
First, link your RBC card to a Petro-Points account, and you'll save 3 cents per litre on all fuel at Petro-Canada, plus earn 20% bonus Petro-Points.
The other is with Rexall. Link your card and Rexall Be Well account, and you'll earn 50 Be Well points per $1 spent.
4. No annual fee or income requirements
Finally not only is there no annual fee to worry about, but there are also no income requirements to meet.
This card is very accessible to most Canadians.
2 downsides to the RBC Cash Back Mastercard
It's not a perfect credit card, of course, here are 2 things to keep in mind.
1. Complicated rewards structure
There's a complicated rewards structure involved with this credit card. While you will earn 2% cash back on groceries, it's only on your first $6,000 in spend, after which you earn 1% back.
And on all other purchases, you only earn 0.5% cash back on the first $6,000 in spend, after which you earn 1% back.
How does this translate into an overall earn rate? Based on a typical $2,000 monthly spend, we have an average earn rate of 1.2% (which incorporates Petro-Canada savings), a pretty decent return for a no fee card. So, overall it provides decent rewards, but it's tricky in how you get to them.
2. Limited insurance coverage
The insurance included with this credit card is quite limited, and only includes basic extended warranty and purchase protection insurance coverage.
While this is typical of many no fee credit cards, there are some that offer more in this regard.
Comparison to the RBC Cash Back Preferred World Elite Mastercard
RBC also has a premium cash back credit card in their portfolio – the
Here's the quick overview on how these 2 credit cards compare.
| Feature | RBC Cash Back Mastercard | RBC Cash Back Preferred World Elite Mastercard |
|---|---|---|
| Earn Rates | * 2% cash back on your first $6,000 in grocery store purchases * 0.5% cash back on your first $6,000 on all other purchases * 1% cash back on all other spending | * 1.5% cash back on the first $25,000 in annual spend * 1% cash back afterwards |
| Insurance Coverage | 2 types | 3 types |
| Other benefits | Typical RBC credit card benefits | * Typical RBC credit card benefits * Membership to Mastercard Airport Experiences (no free passes) * World Elite Mastercard benefits |
| Annual Fee | $0 | $99 |
| Income Requirements | None | * Personal: $80,000 * Household: $150,000 |
Which credit card is better depends on you. For an annual fee of $99 (which is lower than the typical $120 annual fee for premium credit cards), you'll earn 1.5% cash back on your first $25,000 in annual purchases, plus get some more benefits and one extra type of insurance.
Your turn
If you're in need of a no fee cash back credit card, this is one option for you to consider.
Do you currently have, or have you ever had this card? Leave a user review so others can see what you thought of the card.
FAQ
What does the RBC Cash Back Mastercard offer for rewards?
The RBC Cash Back Mastercard offers cash back rewards at these rates:
- 2% cash back on your first $6,000 in grocery store purchases,
- 0.5% cash back on your first $6,000 on all other purchases, and
- 1% cash back on all other spending.
Are there any benefits or included insurance with the RBC Cash Back Mastercard?
There are some limited benefits and insurance provided with the RBC Cash Back Mastercard. It comes with standard RBC credit card benefits, the ability to get your cash back on demand, and 2 types of insurance.
What is the annual fee and income requirements of the RBC Cash Back Mastercard?
The RBC Cash Back Mastercard has no annual fee or income requirements, making it easily accessible to many.
Key benefits
Refer to RBC page for up to date offer terms and conditions.
Corresponding legal references and product terms are available on the RBC website, which will be available and agreed upon in the customer onboarding process.
User reviews
Reviewed by 14 Canadians
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Had an issue with a payment. Contacted the card service, the verification process took super long with too many questions, something even unrelated to the card, very annoying. Will cancel it
tbh its alright
This is a good card if you do groceries as it gives 2% and 1% on recurring payments, for a no yearly fee card, it's good for someone who wants a little something back, the rewards are paid yearly, they decide when you get it. Other than for those kind of purchase, the card is useless as it only gives 0.5% RBC really needs to enhance their products, many competitors give 1% cash back on other purchases and pay the rewards on demand. RBC needs to give more love to their customers and be more generous on rewards.
Good for starting your credit history otherwise it is a no frills card.
This is by far the worst card I have ever had. I was unfortunately billed thousands of dollars on this card fraudulently and RBC dispute centre would not help me. They kept saying they were extra busy due to COVID and giving me the run around. When they did respond to me, they were rude and unprofessional, provided no guidance on how to approach the situation, and continuously closed support tickets for no reason at all.
After months of trying to dispute these blatantly fraudulent charges, they then let me know that I have now missed my deadline to dispute LOL. Told me to now try taking it up with my cards insurance. Beyond frustrating. Legitimately out thousands of dollars due to their complete incompetence.
I have other cards with other banks and have never been involved in such a ridiculous situation. Please consider avoiding RBC Mastercard if you can. I am not one to leave reviews online, but the way RBC conducts business is downright scary IMO.
