RBC Royal Bank credit cards
The Royal Bank of Canada
offers a wide array of credit card products
, suited for diverse tastes and needs. Of its reward cards, the Visa Cash Back is a very popular option. This product lets you get 1 percent cash back on all items charged to the card. The offer is valid for groceries, gas, gifts, and more. The annual interest rate is 19.99 percent with an annual fee of $19. You can have a supplementary card issued for free. You can also get 5 percent back on grocery purchases if they are made at participating stores until March 31 of next year. The cash back rate on other eligible purchases is set at 1 percent. This also applies when pre-authorized payments on the account have been arranged. Finally, you can get cash back when you set up pre-authorized payments to your account or transfer existing ones through the CustomSwitch service. In this way, you can earn up to $25. You get $5 back for each new transferred payment transaction through this service, up to a maximum of five per account – to a total of $25.
Clients who apply for the card by December 31 of this year and are approved will be exempt from a fee for one year. Here are some more details to illustrate the cash back credit earning principle. Let’s say that you spend $1,200 a year on transit and another $1,200 on cable and phone services. You get $12 back on both (1 percent). You get six dollars back on $600 spent on gas over one year, $42 back on $4,200 spent on daycare, and $60 back on $1,200 for groceries, with the 5 percent cash back promotion that is available for half a year. This simple calculation shows that you get $132 back on the full total of $8,400 spent in a year on various things you can’t go without.
This card is suitable for practical people focused on their day-to-day expenses. The worldly traveler is another type and needs another kind of financial product. The Visa Infinite Avion
is such a card, being an excellent choice both at home and abroad. A wide variety of luxury benefits are offered, as well as a comprehensive insurance package. The interest rate is again 19.99 percent but here, there is an annual fee of $120. Applicants must have a minimum personal income of $60,000 or a combined household income of $100,000. You can redeem points for flights regardless of the airline of your choice. There are no restrictions and no “blackout” periods.
Another financial product intended for frequent travelers is the WestJet RBC® World MasterCard. This card goes with an annual interest rate of 19.99 percent on cash advances and purchases and grace period of 21 days. The annual fee for the primary card is $79 and each additional card costs $39. Card holders get a welcome bonus of $100 and earn 1.5 percent in WestJet dollars on making everyday purchases. Moreover, clients enjoy 24/7 assured assistance, commission-free travellers cheques, and guaranteed hotel reservations, together with exclusive offers such as golf and spa savings, hotel discounts and upgrades, etc. Likely applicants for this financial product are individuals with a minimum personal income of $70,000 or a combined annual household income of $120,000.
RBC Royal Bank credit card reviews
and credit card application details.