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[Royal Bank] RBC Visa Cash Back Card 5% Back on Groceries (6 mths), 1% All Else

  • Last Updated:
  • Aug 17th, 2010 5:56 pm
[OP]
Newbie
Jul 3, 2006
51 posts
9 upvotes
Toronto

[Royal Bank] RBC Visa Cash Back Card 5% Back on Groceries (6 mths), 1% All Else

Just noticed RBC has announced a new Cash Back Credit card:
http://www.rbcroyalbank.com/cards/cash- ... cards.html

I just applied for the MBNA SmartCash, but this RBC one looks like a close competitor.

However, they make mention of a possible annual fee in the future.
Your thoughts :?:

Update:
Annual fee = $19
Waive Fee for 1st year:
http://www.rbcroyalbank.com/cashbackcar ... 9B714C141D
68 replies
Deal Addict
User avatar
Jun 28, 2005
3054 posts
561 upvotes
Bonus 5% period is only for 6 months. Then reverts to 1%. So, not that close to the MBNA SC.

From site:

"Earn 5% cash back on grocery store purchases(1). From now until December 31, 2010, you can earn a 5% cash back credit when you make grocery store purchases at participating merchants(2) using your Cash Back card."
Deal Addict
Apr 5, 2006
1047 posts
69 upvotes
Mississauga
5% for groceries - only until December, only 1% after
$19 fee starting second year

MBNA smartcash is definitely better.

I just wonder: why 5% only on groceries (sometimes on gas)? How is it different?
Deal Guru
User avatar
Nov 18, 2005
10995 posts
2356 upvotes
Kingston
agent86 wrote: Bonus 5% period is only for 6 months. Then reverts to 1%. So, not that close to the MBNA SC.

From site:

"Earn 5% cash back on grocery store purchases(1). From now until December 31, 2010, you can earn a 5% cash back credit when you make grocery store purchases at participating merchants(2) using your Cash Back card."
OP, you need to update the title to be more accurate
Deal Addict
User avatar
Nov 3, 2006
3684 posts
201 upvotes
Mississauga
Note that there are also limits to the amount of cashback credit you can earn:
RBC Legal Stuff wrote:5) The maximum amount of Cash Back Credit you can earn per Annual Period is $250.00, based on the maximum of $25,000.00 in Net Purchases. However, we may decide that some promotions will allow you to earn Cash Back Credits in addition to the maximum amount of $25,000.00 in Net Purchases.

6) The maximum amount of Cash Back Bonus you can earn is $250.00 (or $5,000.00 in grocery Net Purchases). However, this $5,000.00 in grocery Net Purchases may be above the maximum of $25 000 in Net Purchases per Annual Period for which you earn 1% Cash Back Credit.
Deal Fanatic
Nov 27, 2004
8696 posts
261 upvotes
Toronto
thelefteyeguy wrote: sorry but this cc is a dud
I want to make an informed decision but its hard when you provide so much information.

Any other insight into this?
Deal Expert
User avatar
Dec 1, 2003
20733 posts
3095 upvotes
YUL
1. Annual fee - $19
2. 5% cash back only for the first 6 months
3. limit of $250 annual cash back

For those 3 reasons, this card is a complete fail. Even the Scotiabank Momentum at a higher annual fee is better.

You're better off with a straight 1% cash back card with no annual fee.

MBNA Smart Cash FTW still! :twisted:
Sr. Member
Dec 14, 2007
511 posts
301 upvotes
najibs wrote: 1. Annual fee - $19
2. 5% cash back only for the first 6 months
3. Limit of $250 annual cash back

for those 3 reasons, this card is a complete fail. Even the scotiabank momentum at a higher annual fee is better.

You're better off with a straight 1% cash back card with no annual fee.

Mbna smart cash ftw still! :twisted:
+1
[OP]
Newbie
Jul 3, 2006
51 posts
9 upvotes
Toronto
CHINAdeals wrote: I want to make an informed decision but its hard when you provide so much information.

Any other insight into this?
well CHINAdeals, I believe our daily deal gurus have spoken. If you want the best cashback/dividend card ever, apply for the MBNA SC while the link is still active:

http://www.mbna.ca/smartcash_cardList.html


I believe you used to have to obtain one of MBNA's lower cards before you could even apply for this one.
Deal Guru
User avatar
Nov 18, 2005
10995 posts
2356 upvotes
Kingston
najibs wrote: 1. Annual fee - $19
2. 5% cash back only for the first 6 months
3. limit of $250 annual cash back

For those 3 reasons, this card is a complete fail. Even the Scotiabank Momentum at a higher annual fee is better.

You're better off with a straight 1% cash back card with no annual fee.

MBNA Smart Cash FTW still! :twisted:
Hey najibs,
Your comments have been noticeably absent from the thread on the new Capital One Aspire World MasterCard. Had enough of the CC debate after the Amex SPG thread?

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