RBC Royal Bank Logo
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LAST UPDATED: March 19th, 2021
RBC Royal Bank is a subsidiary of the Royal Bank of Canada. According to its corporate profile, RBC Royal Bank serves over 16 million customers located in the United States, Canada, and 36 countries around the world. The financial services company has been in operation since 1864. RBC Royal Bank provides several Visa credit card offers with varying benefits and features, along with an extensive range of other financial products and services.

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The Good

  • Features and benefits
  • Financial education and resources
  • Online banking and bill pay

Features and Benefits

The financial services company offers four main Visa credit card options that provide numerous features and benefits for consumers. All credit cards provide points for eligible everyday purchases that may be redeemed for cash back or put towards travel perks, merchandise, and gift cards. Consumers can see all available rewards that may be earned by checking out the Reward Catalog on RBC Royal Bank's website. The company awards 1 to 1.5 points for every dollar spent, and many of its credit card options provide travel accident insurance, emergency card replacement, warranty manager, and a 21-day grace period, in addition to the following benefits:
  • Auto rental collision damage waiver
  • Visa Signature perks
  • 24/7 concierge service
  • Zero liability protection
  • Roadside assistance

Financial Education and Resources

The company offers free financial articles and other resources for consumers on its corporate website. Topics covered include home mortgages, personal loans, travel, and more. The company also provides a comprehensive FAQ section that answers frequently asked questions. Consumers can schedule free consultations with certified financial planners and the company offers 24/7 customer service to resolve any issues. RBC Royal Bank also offers numerous financial calculators to calculate estimated payments, but it can take a bit of searching in order to find these on the website.

Online Banking and Bill Pay

The financial services company offers online and mobile banking services for its customers. Customers are able to transfer and send cross-currency transactions from anywhere in the world. The online banking service uses an Integrated U.S. Remote Deposit feature that does not require any passwords or sign-in credentials. Customers can view up to 24 months of transaction statements and set up automatic recurring bill payments. The company also offers a mobile app for smartphones and tablets to assist customers in managing their finances anytime.

The Bad

  • APRs
  • Additional fees
  • Service limitations


The financial services company only offers a zero percent introductory APR on purchases and balance transfers for six months, which is a much shorter timeframe than promotional offers from similar competitors. Once this period expires, APRs range from 11.99 to 19.99 percent, depending on card selection and cardholder's past credit history. Cash advance APRs are charged at 20.49 percent.

Additional Fees

Annual fees range from $0 to $120, depending on the card. Balance transfer fees are the greater of $10 or 3 percent of the total transaction. Customers will be charged up to $35 for late and returned payments. Cash advance transfers are the greater of $5 or 3.5 percent of the total amount. Foreign transaction fees are assessed at 1.5 percent on the Visa Signature Rewards Plus card and 3 percent on the Visa Platinum Rewards Plus card. Many of these rates are higher than amounts charged by similar competitors.

Service Limitations

Unused reward points will expire three years after the date in which they are earned. Customers will have to acquire a minimum of 1,500 points in order to redeem them for non-cash rewards. It can take up to three days for earned points to be posted to a cardholder's account. Once gift cards and travel perks are redeemed, they cannot be cancelled or exchanged and it can take up to five weeks for gift certificates to arrive by mail to the cardholder.

The Bottom Line

RBC Royal bank offers a variety of Visa credit card choices for customers around the world. These credit card options are best suited for customers with excellent credit histories. Customers are able to earn points on eligible everyday purchases that can be redeemed for both cash and non-cash rewards. The credit cards have varying features and benefits and are protected by Visa's zero fraud liability and Signature services. The company also offers 24/7 customer service, free educational resources, and numerous other financial products and services. However, APRs and interest charges are particularly high, even for customers with excellent credit. There are several restrictions on reward redemption and customers will have to earn a large number of points in order to redeem. Customers should read all terms and conditions disclosed on cardholder agreements before making any significant transactions.
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