RBC Cash Back Mastercard Review (Dec 2022)

October 16, 2022
Blog

The RBC Cash Back Mastercard is a no-fee entry-level cash back credit card issued by the Royal Bank of Canada, one of the largest banks in Canada. It offers 2% cash back on groceries and 0.5% on all other purchases, and it has no annual limit on how much cash back you can earn.

With this card, you will earn bonus points when filling up at Petro-Canada gas stations, or when purchasing at Rexall drugstores. Additionally, you can choose from any of their add-ons and boost the benefits of your card; from benefits like roadside assistance to comprehensive medical and travel insurance.

What Is The RBC Cash Back Mastercard?

The RBC Cash Back Mastercard is a type of no-fee reward credit card that allows you to earn rewards in the form of cash back when you make purchases at select stores. It offers limited cash back benefits but it’s a decent entry-level option, considering it doesn't charge an annual fee. Some of its best features include 2% cash back on grocery stores, 20% bonus points at Petro-Canada stations, and 50 Be Well points per $1 spent at Rexall. You will also receive a complimentary DoorDash subscription for up to 3 months, worth $30.

This card also offers some unique benefits that you can opt-in for, for a fee. These include Medical and Travel Insurance, Job Loss and Disability Insurance, and Roadside assistance. 

RBC credit cards

Features Of The RBC Cash Back Mastercard

#1 Earn 2% Cash Back On Groceries And 0.5% On All Other Purchases

With the RBC Cash Back Mastercard, you can earn unlimited cash back whenever you purchase groceries or stop by any of their partner stores. You won't earn as much as you would with a premium cash back credit card, but still, 2% cash back on groceries and 0.5% on all other purchases is reasonable for a no-fee card. Here’s the breakdown of what you will earn with the RBC Cash Back Mastercard:

  • 2% cash back on groceries (for up to $6,000 spent in a year)
  • 1% cash back on groceries after reaching the limit
  • 0.5% cash back on all other purchases 

Keep in mind the 2% cash back on groceries applies only for the first $6,000 you spend on a given year – that is $120 cash back. After that, you'll earn 1% cash back on groceries, and there is no limit on how much cash back you can earn.

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#2 No Annual Fee

The RBC Cash Back Mastercard doesn’t charge annual fees, which makes it an excellent entry-level card for beginners looking for their first no-fee cash back credit card. To apply for this card you only need to meet two requirements:

  1. You must be a Canadian Resident of at least the age of majority in the province where you reside. In Alberta, Manitoba, Ontario, Quebec, Prince Edward Island, and Saskatchewan the age of majority is 18. In all other provinces, the age of the majority is 19.
  2. Fill in their digital form. You will need to provide personal and background information, including your name, address, phone number, and email address.

Applying online for a credit card in RBC is fast and secure. After completing the application, you’ll get a response within 60 seconds.

#3 Earn Bonus Points At Petro-Canada Gas Stations

Gas prices have never been lower, and one way to take advantage of it is to earn cash back. With your RBC Cash Back card, you will earn a 20% bonus Petro-Points and save 3¢ per litre at Petro-Canada gas stations. To qualify for these rewards, you have to link your RBC card with your Petro-Points card. Here are the steps:

  • Enroll with the RBC Mobile Banking program or the RBC Mobile app
  • Link your RBC Cash Back Mastercard to your Petro-Points card and await confirmation

Bonus Petro-Points are credited to your account within 2 business days. If you want to redeem your Petro-Points at Petro-Canada, you can use your linked RBC card.

#4 Earn Be Well Points At Rexall Drugstores

With your RBC Cash Back Mastercard, you will earn 50 Be Well points per $1 spent at Rexall drugstores. Be Well points can be exchanged at Rexall drugstores for rebates on eligible purchases at a rate of $10 off per 25,000 Be Well points. 

Just like with your Petro-Points card, you can link your RBC Cash Back Mastercard with your Be Well card to redeem your points when you use your RBC card to make purchases.

#5 Complimentary DashPass Subscription

Through its partnership with DoorDash, RBC offers a complimentary DashPass subscription for 3 months – which means free food deliveries on orders over $15. To activate the DashPass, link your RBC card to your DoorDash account and start your trial. This DashPass subscription has an estimated value of $30.

#6 Enhanced Security and Protection

RBC equips their credit cards with cutting-edge CHIP and PIN technology and offers Zero Liability protection so you’re not liable for any unauthorized charge. As added security, you can lock your credit card at a moment's notice by logging into your RBC Mobile Account and navigating to your account details.

RBC also provides 90 days of Purchase Security and Extended Warranty, which covers loss, theft, and damages. It can be extended for up to 1 year for select products.

#7 Optional Add-On Services

There are also additional or optional services that you can purchase from RBC. These add-on services can be very helpful if you travel often or want to cover yourself for a worst-case scenario. Here are some of the services you can choose from:

  • BalanceProtector Max Insurance ($1.20 per $100 in your credit card balance): Covers you for up to 25% of your account balance (capped at $6,250 per month) in case you lose your job or self-employed income, or become totally disabled. In each case, you are covered for up to $25,000, paid over a 4-month period.
  • Medical Emergency Insurance: This add-on offers medical insurance if you’re travelling abroad. Keep in mind this covers you only for the first 31 days (7 days for travellers over 65 years old).
  • Travel Insurance: Covers you for flight delays, trip interruptions & cancellations, baggage, and burglary insurance on your hotel stays.
  • RBC Roadside Assistance (From $79.99 to $144.99 per year): This add-on includes road assistance and covers services like emergency fuel delivery, towing, flat tires, and battery boosts.

If you're looking for better medical insurance that covers you and your family when travelling, we recommend checking our list of the best travel credit cards in Canada.

Pros & Cons Of The RBC Cash Back Mastercard

Pros

  • No annual fee
  • No fees for additional cards
  • No annual cap on how much cash back you can earn 
  • Use your RBC card to purchase gas at partner stations and get 3¢ back per litre
  • 20% more Petro-Points at Petro Canada
  • 50 Be Well points per $1 spent at Rexall
  • Free DoorDash deliveries on orders over $15
  • Freeze your card instantly from the RBC app
  • Purchase Security and Extended Warranty Insurance
  • Opt-in for Roadside Assistance, Travel & Medical Insurance, and other services for a small fee
  • Helpful customer support is available via phone call at 1-800-769-2512 and in-person appointments

Cons

  • No welcome bonus
  • Diminishing cash back rate after you spend $6,000/year on groceries (from 2% to 1%)
  • High purchase and cash advance interest rates (19.99% and 22.99%)
  • To redeem Be Well vouchers you need at least 25,000 points 

Pricing

The fact that you don’t have to pay annual fees makes the RBC Cash Back Mastercard an excellent entry-level card — however, it isn’t the only no-fee option available in the market. Before choosing one, check out our breakdown of three of the best no-fee cash back credit cards in Canada:

Credit CardsRBC Cash Back MastercardHSBC Cash Rewards MastercardTangerine Money-Back Credit Card
Annual Fee$0 $0 $0 
Welcome BonusNoneUp to $150 (until September 30, 2022)$125 cash back (until October 31, 2022)
Cash Back Rate0.50% to 2%0.5% to 1.5% for regular rate
Up to 14% for the first 180 days (up to $1,000 total purchases)
0.50% to 2% for regular rate
Up to 15% for promotional rate
Interest Rate19.99% on Purchase Rate
22.99%* on Cash Advance Rate
20.99% on Purchase Rate
22.99% on Cash Advance Rate
19.95% on Purchase Rate and Cash Advance Rate
FeaturesCredit card lock
Free delivery for 3 months from DoorDashSave
20% bonus Petro-Points at Petro-Canada
Mobile device insuranceApple Pay payment security optional travel and medical insurance with additional costBraille card identifier card feature
Get a third personalized category for cash back rewards applicable with mobile wallets (e.g., Apple Pay, Google Pay, Samsung Pay)

In Summary

The RBC Cash Back Mastercard is a no-fee entry-level cash back credit card issued by the Royal Bank of Canada, one of the largest banks in Canada. It offers 2% cash back on groceries and 0.5% on all other purchases, and it has no annual limit on how much cash back you can earn.

With this card, you will earn bonus points when filling up at Petro-Canada gas stations, or when purchasing at Rexall drugstores. Additionally, you can pick from any of their extra add-ons and boost the benefits of your card; you can choose from benefits like roadside assistance, medical insurance, and travel insurance.

RBC Cash Back Mastercard FAQs

How Much Does RBC Cash Back Mastercard Cost?

The RBC Cash Back Mastercard does not charge any kind of fee. 

Is The RBC Cash Back Mastercard Worth It?

Yes – as an entry-level no-fee cash back card, the RBC Cash Back Mastercard is a reasonable option. You can earn 2% cash back on groceries purchases for up to $120 cash back per year; afterwards, the rate drops to 1% and you can earn cash back with no limits. You can also link your card with Petro-Canada and Rexall and earn a bonus on all your purchases.

Is The RBC Cash Back Mastercard Safe?

Yes, the RBC Cash Back Mastercard is very safe. It uses cutting-edge CHIP and PIN technology, and you can freeze all spending immediately through the RBC Mobile app if you lost it or suspect somebody may be using it. 

What Is The Interest Rate Of The RBC Cash Back Mastercard? 

The interest rate for purchases and cash advances is 19.99% and 22.99% respectively. This is in line with the industry average for this type of card. If you’re looking for credit cards with a lower interest rate, we recommend checking out low-interest credit cards or balance transfer credit cards.

How Does The RBC Cash Back Mastercard Work? 

The RBC Cash Back Mastercard works like any other cash back card. Using it at partner stores will yield cash back. Eligible categories include groceries, gas, and purchases at Rexall drugstores and Petro-Canada stations. 

How Do I Cancel My RBC Cash Back Mastercard? 

You can cancel your RBC Cash Back Mastercard by calling their 24-hour toll-free number at 1-800-769-2512, and their representative will be happy to assist you with the process. 

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