How to Choose the Best RBC Credit Card for 2024

Credit Card

RBC is one of the largest and most trusted banks in Canada, offering a wide range of credit cards to suit different needs and preferences. Whether you are looking for cash back, travel rewards, low interest, or no annual fee, RBC has a credit card for you. But how do you choose the best RBC credit card for 2024? Here are some tips and recommendations to help you decide.

Credit Card
Credit Card

Compare the Features and Benefits of RBC Credit Cards

The first step to choosing the best RBC credit card for 2024 is to compare the features and benefits of different RBC credit cards. You can use online tools and resources, such as MoneySense or creditcardGenius, to compare the earn rates, welcome bonuses, annual fees, interest rates, insurance coverage, and other perks of various RBC credit cards.

You should also consider your spending habits, lifestyle, and financial goals, and look for a credit card that matches your needs and preferences. For example, if you travel frequently, you may want a credit card that offers travel rewards, travel insurance, and airport lounge access. If you want to save money, you may want a credit card that offers cash back, low interest, or no annual fee.

Choose the Best RBC Credit Card for Your Category

The next step to choosing the best RBC credit card for 2024 is to narrow down your options and select the best RBC credit card for your category. Depending on your category, you may have different criteria and priorities for choosing a credit card. Here are some of the best RBC credit cards for different categories, based on the latest rankings and reviews from MoneySense and creditcardGenius.

Best Cash Back RBC Credit Card

If you want to earn cash back on your everyday purchases, the best RBC credit card for you is the RBC Cash Back Preferred World Elite Mastercard. This credit card offers a flat 1.5% cash back on all purchases, with no caps or limits. It also offers a welcome bonus of $100 cash back after your first purchase, and a $25 annual fee waiver for the first year.

The RBC Cash Back Preferred World Elite Mastercard also comes with premium benefits, such as comprehensive travel insurance, concierge service, and car rental discounts. It also saves you 3 cents per litre at Petro-Canada gas stations and earns you 20% more points when you link your card to your Petro-Points account.

The annual fee for this credit card is $99, and the interest rate is 19.99% on purchases and 22.99% on cash advances. The minimum income requirement is $80,000 for individuals or $150,000 for households.

Best Travel Rewards RBC Credit Card

If you want to earn travel rewards on your purchases, the best RBC credit card for you is the RBC Avion Visa Infinite. This credit card offers a flexible and valuable rewards program, where you can earn 1 RBC Rewards point for every $1 spent on all purchases, and 1.25 points for every $1 spent on travel purchases booked through RBC Rewards.

You can redeem your RBC Rewards points for flights, hotels, car rentals, gift cards, merchandise, and more. You can also transfer your points to other loyalty programs, such as WestJet Rewards, British Airways Executive Club, Cathay Pacific Asia Miles, and American Airlines AAdvantage.

The RBC Avion Visa Infinite also offers a generous welcome bonus of 35,000 points, which is worth up to $750 in travel. It also offers premium benefits, such as travel insurance, airport lounge access, hotel upgrades, and car rental discounts. It also saves you 3 cents per litre at Petro-Canada gas stations and earns you 20% more points when you link your card to your Petro-Points account.

The annual fee for this credit card is $120, and the interest rate is 19.99% on purchases and 22.99% on cash advances. The minimum income requirement is $60,000 for individuals or $100,000 for households.

Best Low Interest RBC Credit Card

If you want to save money on interest charges, the best RBC credit card for you is the RBC Visa Classic Low Rate Option. This credit card offers a low interest rate of 12.99% on purchases and cash advances, which is much lower than the average interest rate of 19.99% on most credit cards.

The RBC Visa Classic Low Rate Option also offers a welcome offer of 1.9% interest rate on balance transfers for 10 months, with a 1% transfer fee. This can help you pay off your existing credit card debt faster and cheaper.

The RBC Visa Classic Low Rate Option also offers basic benefits, such as purchase security and extended warranty protection. It also saves you 3 cents per litre at Petro-Canada gas stations and earns you 20% more points when you link your card to your Petro-Points account.

The annual fee for this credit card is $20, and there is no minimum income requirement.

Apply for the Best RBC Credit Card for 2024

The final step to choosing the best RBC credit card for 2024 is to apply for the credit card that you have selected. You can apply online, by phone, or in person at any RBC branch. You will need to provide some personal and financial information, such as your name, address, date of birth, income, and employment. You will also need to consent to a credit check, which will determine your eligibility and credit limit.

If you are approved, you will receive your credit card in the mail within 7 to 10 business days. You will need to activate your credit card before you can use it. You can also register for online banking and mobile banking, which will allow you to manage your account, pay your bills, and redeem your rewards.

Conclusion

Choosing the best RBC credit card for 2024 can be easy and rewarding, if you follow these steps and tips. You can compare the features and benefits of different RBC credit cards, choose the best RBC credit card for your category, and apply for the credit card that suits your needs and preferences. By doing so, you can enjoy the perks and rewards of being an RBC credit cardholder, and save money and time on your purchases.

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