- $99 annual fee
- No annual fee for supplementary cardholders
- Lastly earn 1.5% cash back on all purchases
RBC Cash Back Mastercard Login – RBC Cash Back Preferred World Elite Mastercard Review
As a matter of fact this card also requires a minimum personal income of $70,000 or a minimum household income of $120,000.
Let’s do a quick comparison with the TD Cash Back Visa Infinite Card:
- $120 annual fee
- $50 annual fee for supplementary cardholders
- Furthermore earn 6% cash back on gas, grocery and recurring bill payments (for the first 3 months or first $3,500 in spending for each category)
Personally, I think that there are enough other no annual fee cash back credit cards out there that offer at least 2% or more. So you would only use this credit card one other types of spending that do not give you a multiple bonus. Let’s assume that you would use the RBC credit card only on spending that would have only netted you 1% return.
That means, if you spend $20,000 per calendar year:
- $20,000 x 1% = $200 cash back with a no annual fee credit card
- $20,000 x 1.5% = $300 cash back, but subtract the $99 annual fee only nets you $201.
Therefore, you would need to spend $20,000 per year, on spending categories that would have only earned you 1% cash back to come out ahead.
I am not impressed with this credit card, but I am glad to see more competition being introduced to the market. RBC just needs to improve this product over time, but at least they have something to work with.