RBC Visa Classic Low Rate Option

RBC Visa Classic Low Rate Option is a credit card that offers a low interest rate. This could be beneficial if you are unable to pay the full balance of your credit card bill, or if you plan to make a large purchase and pay it off over a couple of months with a low interest rate. The annual fee for the card is $20, and additional cards are available for $0.

Card Summary:

Rewards Summary:

• N/A

Benefits Summary:

This credit card offers several valuable perks:

• Fuel Savings: Save 3¢ per liter on fuel and always earn 20% more Petro-Points at participating Petro-Canada locations.
• Rexall Rewards: Collect Well points at Rexall, earning up to 50 points for every $1 spent.
• DoorPass Subscription: Enjoy a free DoorPass subscription for 3 months, giving you access to various delivery benefits.

These benefits provide savings on everyday expenses and additional rewards at popular retailers.

Insurance Summary:

• Addons only.

Editor’s Review

RBC Visa Classic Low Rate Option Review

The RBC Visa Classic Low Rate Option card is designed for individuals who prioritize low interest rates over rewards. This card is ideal for those who might carry a balance from month to month or are planning a large purchase that they intend to pay off over time. With its low annual fee and competitive interest rates, this card is a practical choice for managing credit card debt efficiently.

Card Summary

• Annual Fee: $20
• Supplementary Cards: Free
• Purchase Interest Rate: 12.99%
• Cash Advance Rate: 12.99%
• Savings on Interest: Up to $140 annually for every $2,000 in outstanding balance compared to a typical 19.99% rate

Rewards Program

• Rewards: Not applicable

Benefits Summary

• Fuel Savings: Save 3¢ per liter on fuel and earn 20% more Petro-Points at participating Petro-Canada locations.
• Rexall Rewards: Collect Well points at Rexall, earning up to 50 points for every $1 spent.
• DoorPass Subscription: Enjoy a free DoorPass subscription for 3 months, providing various delivery benefits.

Insurance Coverage

• Insurance: Add-ons available, including:
  • Travel Insurance
  • Purchase Security
  • Extended Warranty

Security Features

• Security Features: Comprehensive fraud protection, chip technology, and secure online transactions

Spending Structure

This card is most beneficial for users who:

• Frequently carry a balance and want to minimize interest charges
• Plan to make a large purchase and pay it off over several months
• Seek savings on everyday expenses like fuel and pharmacy purchases

Final Verdict

The RBC Visa Classic Low Rate Option is an excellent choice for individuals focused on minimizing interest charges and managing debt efficiently. With its low interest rates and modest annual fee, this card is a practical option for those who carry a balance or plan large purchases. Additionally, the card offers valuable perks such as fuel savings and pharmacy rewards, enhancing its appeal for everyday use. If you prioritize low interest rates over rewards and other benefits, the RBC Visa Classic Low Rate Option card is a solid choice.

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Disclaimer: Refer to the credit card official web page for the latest up to date 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.