RBC cash back MasterCard - redeeming cash back, how does it work?

I think it is applied automatically on the February statement if you have $25 in cashback credit or more.

No way to redeem other than auto redemption in January, or to call in once you reach a minimum of $25 cashback.

coolintheshade wrote: ↑ No way to redeem other than auto redemption in January, or to call in once you reach a minimum of $25 cashback.

This is the answer.

Ah ok... Well at least I've already got a reason to call them come Friday, when it's been 60 days since my toys r us offer from December that they insisted I wait... Yep still waiting on that too

..... I wonder why it has to be a 25 dollar amount to redeem cash back? Instead of just whenever? Not the biggest deal, just seems odd

Rbc's CC are probably the lamest out the big 5, and probably close to the lamest including everyone else

pawprints86 wrote: ↑ Ah ok... Well at least I've already got a reason to call them come Friday, when it's been 60 days since my toys r us offer from December that they insisted I wait... Yep still waiting on that too

..... I wonder why it has to be a 25 dollar amount to redeem cash back? Instead of just whenever? Not the biggest deal, just seems odd

It’s not that unusual. Rogers minimum is $20, meridian CU is $50, Scotiabank and Amex don’t let you redeem manually at all, you need to wait for the once-a year payout. I like my Mogo prepaid, cash back is paid out in full automatically every month, no matter how small the amount. I wish every issuer did it that way.

I got my cashback on the first statement of this year. I thinks that’s how it works. You have to wait the full year to receive it, unlike other cards where you can use it against certain transactions.

CondoMan98 wrote: ↑ I got my cashback on the first statement of this year. I thinks that’s how it works. You have to wait the full year to receive it, unlike other cards where you can use it against certain transactions.

Even if I've had the card for a good few years? I just haven't used it much until recently. Didn't compare until recently how crappy the walmart MasterCard rewards rate actually is. I had just figured it was better cuz it was their card... Lesson learned

(Also haven't been in charge of much of my own groceries until recently, so that made me take more notice too)

I always email them (in online banking via the contact us option) to request cashback once its 25 or more....you can only know once you get statement about your cashback

So i email them and they credit the cashback in few days (so i dont have to call or talk to them). This is for my rbc cashback mastercard

Its a shitty card but has no annual fees.
I will not get a card with annual fees so this is the best i got. I’ll think next year about what to do with online banks maybe get a simplii account or something

apnayloags wrote: ↑ I always email them (in online banking via the contact us option) to request cashback once its 25 or more....you can only know once you get statement about your cashback

So i email them and they credit the cashback in few days (so i dont have to call or talk to them). This is for my rbc cashback mastercard

Its a shitty card but has no annual fees.
I will not get a card with annual fees so this is the best i got. I’ll think next year about what to do with online banks maybe get a simplii account or something

There are some no-AF cards listed in the the combos thread...

1. strictly no-AF and strictly cashback, you're looking at 4-6 keeper cards to maximize returns
2. Scale that down to 2-3 if you accept different rewards currencies (store pts, travel pts, or both) and/or are willing to grab AF cards

Honestly, it's not a great card but hardly the worst ever.

1) It's one of a handful of Mastercards with 2% grocery so you'll get the full 2% at Walmart unlike with VISA.

2) Redemption is pretty friendly (on request over $25) compared to other big bank cashback cards (Scotia, CIBC) where you have to wait until the end of the year, no exceptions.

3) It's an RBC card meaning you get 3c off at Petro-Canada when you link it with your Petro-points (plus bonus petro-points which you can stack with further linked accounts with HBC, CAA, etc.). Note that even getting the 0.5% CB for using the Cashback MC beats an RBC Rewards card because RBC Rewards is just that bad.

If Tangerine deemed you unworthy of having their MC and you already have or need an RBC card for a while, this one can do in a pinch.

noobferguson wrote: ↑ Note that even getting the 0.5% CB for using the Cashback MC beats an RBC Rewards card because RBC Rewards is just that bad.

It would be the same, wouldn't it? Half a perfect CB per dollar or half a point per dollar? Roughly? For the no annual fee...

pawprints86 wrote: ↑ It would be the same, wouldn't it? Half a perfect CB per dollar or half a point per dollar? Roughly? For the no annual fee...

I think what @noobferguson is saying is...

1. 0.5% cashback may be lousy but...
2. the Rewards card earning pts that'll likely land you <1cpp (plus the hassle of materializing rewards through gift cards, etc,) is worse

titaniumtux wrote: ↑ I think what @noobferguson is saying is...

1. 0.5% cashback may be lousy but...
2. the Rewards card earning pts that'll likely land you <1cpp (plus the hassle of materializing rewards through gift cards, etc,) is worse

That's exactly what I was getting at, on point as always tux

At work so I'm going off the top of my head, but unless you're using RBC rewards for their travel rewards, you're stuck with something like 0.7% return at best for redeeming for gift cards (or waiting around for their bonus redemption periods which happen infrequently), then divide by 2 for Rewards VISA earn rate and you get 0.35cpp vs. the 0.5cpp on cashback.

Even with that said, RBC rewards can be good or even great if you know how to use them, but the poor earn rate on their no-/low-AF cards pretty much guarantees you'll rarely come out ahead.

Edit: This is all in comparison with the no-AF Cashback MC and other no-AF rewards cards, in case that wasn't clear.

Ah ok so we were all kind of making the same point! Gotcha lol. For me this card is the only one that gets 2% back at walmart... Their own doesn't even do that. But also neither will my dividends card as it's visa. As a single person I'll likely never spend 6000 even between walmart and zehrs which is where I've mainly dedicated this card for. Except for the odd promotion like right now 10% cash back at petro until end of March. If they even pay it out that is, I'm hesitant to think they will... They've got 2 more days until I contact for a 3rd time regarding the toys r us promo, from 2 months ago.... I generally live in the world of "don't promise something unless you're actually going to go through with it" especially coming from a company in which people can leave negative feedback....

User455957 wrote: ↑ Rbc's CC are probably the lamest out the big 5, and probably close to the lamest including everyone else

Very true. I do not like to deal with RBC. I kept the account because it’s my oldest bank account.