Personal Finance

RBC Rewards Preferred Visa

  • Last Updated:
  • Oct 23rd, 2016 9:06 pm
[OP]
Deal Addict
User avatar
Feb 1, 2006
2894 posts
829 upvotes
Ontario

RBC Rewards Preferred Visa

As I'm looking for a card with at least 31 days out-of-country medical insurance, this card caught my attention. Seems like you can redeem 1% towards travel or transfer to SDM, Esso or Westjet (RBC Rewards-->Westjet 1:1.15 promo on now).

I'm interested in this card primarily for the travel insurance incl. cancellation/delay and am planning to pair it with a Rogers Platinum Mastercard for 1.75% cashback as a simple 2 card solution including 1.5% cashback abroad. That being said, I'm still interested in learning how to maximize the rewards value of this card.

Just looking for some opinions on this card or suggestions for similar cards that you think are better (no "World Elite/Visa Infinite" type cards with a high min. income, and min. 31 day travel medical insurance, please).

Also, a few questions:

1. Does anyone know the transfer ratio of RBC Rewards-->SDM Optimum Points?

2. Just wanted to confirm that RBC Rewards transfer to AA or BA is not allowed on this card unlike the Avion cards.
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay
Bank: Alterna (2%+, no fees)
Brokers: IB (For. stocks/low comm)/Reg. RBCDI(service, USD)
13 replies
Deal Fanatic
User avatar
Aug 24, 2016
6275 posts
5690 upvotes
Here on earth
minimalist wrote: As I'm looking for a card with at least 31 days out-of-country medical insurance, this card caught my attention. Seems like you can redeem 1% towards travel or transfer to SDM, Esso or Westjet (RBC Rewards-->Westjet 1:1.15 promo on now).

I'm interested in this card primarily for the travel insurance incl. cancellation/delay and am planning to pair it with a Rogers Platinum Mastercard for 1.75% cashback as a simple 2 card solution including 1.5% cashback abroad. That being said, I'm still interested in learning how to maximize the rewards value of this card.

Just looking for some opinions on this card or suggestions for similar cards that you think are better (no "World Elite/Visa Infinite" type cards with a high min. income, and min. 31 day travel medical insurance, please).

Also, a few questions:

1. Does anyone know the transfer ratio of RBC Rewards-->SDM Optimum Points?

2. Just wanted to confirm that RBC Rewards transfer to AA or BA is not allowed on this card unlike the Avion cards.
Now that SDM and RBC chose to end the bank account and credit card programs, I doubt you can convert points to optimum anymore.
Deal Expert
Aug 22, 2011
30938 posts
16710 upvotes
Ottawa
At a regular redemption of 100pts=$1, this card is not worth an AF of $110.
[OP]
Deal Addict
User avatar
Feb 1, 2006
2894 posts
829 upvotes
Ontario
vkizzle wrote: At a regular redemption of 100pts=$1, this card is not worth an AF of $110.
Do you know of another card with 31 day medical at a lower fee?
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay
Bank: Alterna (2%+, no fees)
Brokers: IB (For. stocks/low comm)/Reg. RBCDI(service, USD)
Deal Guru
User avatar
Aug 8, 2012
10198 posts
3978 upvotes
BC
minimalist wrote:
vkizzle wrote: At a regular redemption of 100pts=$1, this card is not worth an AF of $110.
Do you know of another card with 31 day medical at a lower fee?
I wish I needed 31 days :) LOL. I mean, I don't actually need it because of work insurance coverage ... but it'd be nice to have 31-day vacations :D

PCF WE has 10-day coverage for free. Does anyone sell travel insurance that doesn't start on the first day?

Like if you had a 2-week trip, could you use PCF for first 10-days and top-up with some 3rd party for day 11-14 ?
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Addict
Oct 22, 2015
1257 posts
363 upvotes
Most credit cards allow you add on additional days for a fee. I bet they will charge you quite a bit for that. I've never done it.
Deal Guru
User avatar
Aug 8, 2012
10198 posts
3978 upvotes
BC
Arrgh wrote:
Lumps wrote: I believe there is National Bank MC that has 60 days. https://www.nbc.ca/content/dam/bnc/en/p ... delite.pdf

The NB WE MC had FYF before, but it's 30 days coverage. Doesn't look like they have it now.
The linked PDF does state 60 days coverage (for ages under 54). Does that not apply to the current card?
"Article XIII – Purpose of coverage
This plan covers the covered person for trips made outside his
province of residence provided each trip does not last for more than
the maximum number of days per trip. Proof showing the duration of
the trip will be required at the time a claim is submitted.
INSURANCE CERTIFICATE
32
The maximum number of days per trip is :
> sixty (60) days for covered persons aged fifty-four (54) years old
or less;
> thirty-one (31) days for covered persons aged between fifty-five (55)
and sixty-four (64) years old;
> fifteen (15) days for covered persons aged between sixty-five (65)
and seventy-four (74) years old.
Persons seventy-five (75) years old and over are not covered.
In case of emergency during a trip, the insurance covers hospital,
medical and paramedical expenses, transportation expenses,
subsistence allowance and medical follow-up in Canada.
Important: If the trip duration exceeds the maximum number of days
per trip, the present coverage no longer applies and the covered
person’s trip is not covered.
"
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Fanatic
Feb 15, 2006
8505 posts
2911 upvotes
Toronto
Ah, if I was younger, I'll have more than 30 days coverage.
Jr. Member
Dec 15, 2014
140 posts
75 upvotes
Westmount, QC
ace604 wrote:
minimalist wrote:
vkizzle wrote: At a regular redemption of 100pts=$1, this card is not worth an AF of $110.
Do you know of another card with 31 day medical at a lower fee?
I wish I needed 31 days :) LOL. I mean, I don't actually need it because of work insurance coverage ... but it'd be nice to have 31-day vacations :D

PCF WE has 10-day coverage for free. Does anyone sell travel insurance that doesn't start on the first day?

Like if you had a 2-week trip, could you use PCF for first 10-days and top-up with some 3rd party for day 11-14 ?
Most credit card insurance don't work that way. If your trip, say 32 days, is more than covered duration, say 31days, then the first 31 days are not covered either. You have to buy top up to cover the entire trip.

I don't think the "A covers the first 10 days and buy insurance from B to cover 22 days" works.

This is my two cents. Read the insurance policy from the credit card carefully. It's written by many lawyers that try hard to not pay us if anything.
Deal Addict
Apr 5, 2007
1331 posts
445 upvotes
Canada
minimalist wrote: As I'm looking for a card with at least 31 days out-of-country medical insurance, this card caught my attention. Seems like you can redeem 1% towards travel or transfer to SDM, Esso or Westjet (RBC Rewards-->Westjet 1:1.15 promo on now).

I'm interested in this card primarily for the travel insurance incl. cancellation/delay and am planning to pair it with a Rogers Platinum Mastercard for 1.75% cashback as a simple 2 card solution including 1.5% cashback abroad. That being said, I'm still interested in learning how to maximize the rewards value of this card.

Just looking for some opinions on this card or suggestions for similar cards that you think are better (no "World Elite/Visa Infinite" type cards with a high min. income, and min. 31 day travel medical insurance, please).

Also, a few questions:

1. Does anyone know the transfer ratio of RBC Rewards-->SDM Optimum Points?

2. Just wanted to confirm that RBC Rewards transfer to AA or BA is not allowed on this card unlike the Avion cards.
RBC Cathay Pacific Platinum offers 31 days (under 65)
Deal Addict
May 12, 2014
2222 posts
1765 upvotes
Montreal
boiledmilk wrote: Most credit card insurance don't work that way. If your trip, say 32 days, is more than covered duration, say 31days, then the first 31 days are not covered either.
I was quite surprised by this comment, so I looked at my insurance booklet (Visa avion privilege): "You will be covered for the first: Thirty-one (31) consecutive days of a trip [...] " and "Top-up means the coverage you purchase[...] to extend your coverage
beyond the maximum duration of the first thirty-one (31) consecutive".

So, for that card, you are indeed covered for the first portion even if your trip is longer, and you can buy additional insurance for the remaining portion.
Jr. Member
Dec 15, 2014
140 posts
75 upvotes
Westmount, QC
FrancisBacon wrote:
boiledmilk wrote: Most credit card insurance don't work that way. If your trip, say 32 days, is more than covered duration, say 31days, then the first 31 days are not covered either.
I was quite surprised by this comment, so I looked at my insurance booklet (Visa avion privilege): "You will be covered for the first: Thirty-one (31) consecutive days of a trip [...] " and "Top-up means the coverage you purchase[...] to extend your coverage
beyond the maximum duration of the first thirty-one (31) consecutive".

So, for that card, you are indeed covered for the first portion even if your trip is longer, and you can buy additional insurance for the remaining portion.
I did speak a bit too widely. I should have used the word "some" instead.

I checked my RBC Westjet WE, and it does cover the first 15 days. My Scotia Gold Amex also covers the first 25 days.

Westjet WE:
You will be covered for the first:
n Fifteen (15) consecutive days of a trip, including the date you leave on your trip
and the date you return from your trip ...
Scotia Amex Gold:
Coverage is provided for the first 25 consecutive days for Insured Persons ...
Took a look at my partner's Desjardins Odessey Visa, the insurance pdf states that it only covers trips that are less than 60 days:
Important note!
Emergency Health Care only covers you for trips whose duration is equal to or less
than the number of days indicated in the Table of Coverage. If the duration of your
trip exceeds the number of days indicated, you must ask us to extend your coverage.
Otherwise, you will not be covered under the Emergency Health Care coverage for
your trip. Your extended coverage must cover the entire duration of your trip, but
you will pay only for the days of coverage not included under this insurance. The
departure and return date count as full days when calculating the duration of
the trip.
National bank aligns with Desjardins and does not cover trips exceeding the limit:
Article XIII – Purpose of coverage
This plan covers the covered person for trips made outside his
province of residence provided each trip does not last for more than
the maximum number of days per trip. Proof showing the duration of
the trip will be required at the time a claim is submitted.
...
If the trip duration exceeds the maximum number of days per trip, the
present coverage no longer applies and the covered person’s trip is
not covered.
I guess the point is, Always read the insurance policy carefully before the trip, just so there is no surprises.

Top