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RBC Cash Back Preferred World Elite Mastercard review

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RBC Cash Back Preferred World Elite Mastercard
Welcome Offer
N/A
Rewards
Up to 1.5% cash back
Annual Fee
$99
Purchase Interest Rate
20.99%
Cash Advance Rate
22.99% (21.99% if you reside in Quebec)
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Our verdict

Get unlimited cash back on your purchases plus rewards with the RBC Cash Back Preferred World Elite Mastercard.

The RBC Cash Back Preferred World Elite Mastercard is one of the easiest ways to earn cashback on all your purchases – big or small. Earn unlimited 1.5% cash back on all eligible purchases. If you don't want to worry about what to buy to maximize your cash back rewards, this RBC card could be a good option.

Best for: Those whose top priority is unlimited cashback on everyday purchases.

Pros

  • Earn unlimited 1.5% cashback on eligible purchases
  • Access Mastercard World Experience, concierge services and Boingo Wi-Fi hotspots

Cons

  • No welcome offer
  • This card has an annual fee of $99
  • You'll need to earn a personal income of $80,000 per year to be eligible for this card

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
Earn up to 1.5% cash back on all eligible purchases.

The basics

The RBC Cash Back Preferred World Elite Mastercard lets you earn a certain percentage of cash back on your spending. While it doesn’t offer the highest rate of return, it compensates by giving you no limit on how much cash you can get back or how many rewards you can accumulate. Regardless of how much or where you spend, this RBC card will let you rack up the rewards and track them over time.

You can cash out your credits any time you reach $25 or let your balance accumulate throughout the year for a cash back credit in February. In addition to unlimited cash back rewards, you can link the card to Petro-Points at Petro-Canada, which allows you to save three cents per litre on fuel.

The perks

  • Unlimited cash back. Earn up to 1.5% cash back on all eligible purchases. This RBC cash back card is really unlimited, which means there’s no upper cap on how many cash credits you can receive.
  • Lots of perks. As a Mastercard holder, you’ll receive many special benefits, such as Mastercard World Experience, concierge service and access to Boingo Wi-Fi hotspots around the globe.
  • No fee for additional cardholders. You can add an additional card on your account with zero annual fee.
  • Instant fuel savings. Link your card and instantly save 3¢/L on fuel at Petro-Canada and always earn 20% more Petro-Points. Get 50 Be Well points at Rexall for every $1 spent on eligible products and redeem your points faster with 25,000 Be Well points for $10. Plus, save at DoorDash with $0 delivery fees for 12 months and get unlimited deliveries with $0 delivery fees on orders of $15 or more when you pay with your eligible RBC credit card

What to watch out for

  • Sliding scale earnings. You are only eligible for a percentage of cash back up to a certain maximum per year. Purchases above that level earn you a lower percentage in cash back credits.
  • Fees. This RBC Visa card does carry an annual fee of $99.
  • High barrier to entry. To be eligible for this card, you need to have a minimum personal income of $80,000 or a minimum household income of $150,000.

RBC Cash Back Preferred World Elite Mastercard interest rates

Interest TypeInterest Rate
Purchase interest rate20.99%
Cash advance rate22.99%
Standard balance transfer rate22.99%

What should I know before I apply?

How to apply

  1. Click the ‘Apply Now’ button above.
  2. Fill out the standard credit card application, which should take five minutes to complete.

Bottom line

The RBC Cash Back Preferred World Elite Mastercard has a high barrier to entry. If you meet the minimum income requirements, you can use this card to earn cash back rates on any type of purchase. Earn up to 1.5% cash back on all eligible purchases.

Compare other credit cards

1 - 10 of 42
Name Product CACCF Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC Cash Back Mastercard
N/A
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 650
Get up to 2% unlimited cash back on grocery store purchases, and up to 1% cash back on all other qualifying purchases and pre-authorized payments.
Neo Credit Mastercard
Get $25.00 + up to 15% cash back
Up to 5% cash back
19.99% - 29.99%
$0
Min. recommended credit score: 710
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at partner stores and at least 1% cashback guaranteed.
RBC ION Visa
6,000 points
1.5 points per $1 spent
20.99%
$0
Min. recommended credit score: 660
Get 6,000 Avion points when you get approved for the card.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until January 31, 2025. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
American Express Cobalt Card
15,000 points
Up to 5x points per $1 spent
21.99%
$155.88
Min. recommended credit score: 700
Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until January 31, 2025. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
RBC Avion Visa Infinite
55,000 points
Up to 1 point per $1 spent
20.99%
$120
Min. recommended credit score: 650
Get up to 55,000 Welcome Points. Get 35,000 Welcome Points on approval and 20,000 bonus points when you spend $5,000 in your first 6 months. Apply by November 25, 2024.
BMO eclipse rise Visa Card
25,000
Up to 5 points per $2 spent
20.99%
$0
Min. recommended credit score: 660
Earn up to 25,000 bonus points.
RBC ION+ Visa
12,000 points
3 points per $1 spent
20.99%
$48
Min. recommended credit score: 660
Get 12,000 Avion points when you get approved for the card.
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