RBC RateAdvantage Visa
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Welcome Offer
None specified.
Summary
This credit card has no annual fee, so you can enjoy its benefits without any yearly cost. The purchase and cash advance interest rates are variable, meaning they depend on your credit rating and can change over time. This card offers flexibility, adapting its rates based on your creditworthiness.
Rewards
None specified.
Benefits
This credit card offers several convenient features. You can set up automatic payments to ensure your bills are paid on time without any hassle. With Visa payWave, you can make contactless payments quickly and securely by simply tapping your card. Additionally, the Credit Card Lock feature allows you to lock your card instantly if it’s lost or stolen, providing added security and peace of mind.
Insurance
- Purchase Security and Extended Warranty Insurance
- Optional add-on insurance services
Editor’s Review
RBC RateAdvantage Visa Credit Card Review
General Overview
The RBC RateAdvantage Visa Credit Card offers a low variable interest rate based on your credit rating, making it ideal for those seeking to minimize interest payments on balances carried month-to-month.
Key Features
- Interest Rates
- Variable Purchase APR: 12.99% to 21.99%
- Variable Cash Advance APR: 12.99% to 21.99%
- Rewards Program
- N/A (focuses on low interest rates rather than rewards)
- Fees
- Annual Fee: $0
- Additional Cards: $0
- Benefits
- Save 3¢/L on fuel and earn 20% more Petro-Points at Petro-Canada
- Get 50 Be Well points per $1 spent at Rexall
- 3 months of complimentary DashPass subscription with DoorDash
- Insurance Coverage
- Purchase Security Insurance
- Extended Warranty Insurance
- Security Features
- Visa Zero Liability policy
- Fraud alerts
- Credit card lock feature through the RBC Mobile app
Pros and Cons
Pros
- Low variable interest rate based on credit rating
- No annual fee
- Additional savings and points with partner merchants
Cons
- No rewards program for everyday spending
- Variable interest rate depends on creditworthiness
Who is this card for?
This card is best suited for individuals who prioritize low interest rates over rewards, especially those who may carry a balance and want to minimize interest charges. It also benefits those who frequently shop at Petro-Canada and Rexall.
Comparison with Similar Cards
| Feature | RBC RateAdvantage Visa | TD Emerald Flex Rate Visa | CIBC Select Visa |
|---|---|---|---|
| Annual Fee | $0 | $25 | $29 |
| Interest Rates | 12.99% to 21.99% | Prime + 4.50% to 12.75% | 13.99% to 22.99% |
| Rewards | None | None | None |
| Additional Benefits | Fuel savings, Rexall points | None | None |
Final Verdict
The RBC RateAdvantage Visa scores an 8/10. It is an excellent option for those seeking low interest rates and no annual fee, with added benefits like fuel savings and points at Rexall. However, the lack of a rewards program may be a drawback for some users.
Disclaimer: Refer to the official credit card web page for the latest rates, terms, and conditions. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute professional and/or financial advice.
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