RBC Visa Platinum
The RBC Visa Platinum Credit Card stands out primarily due to its zero annual fee, making it a cost-effective option for many consumers. This card offers a variety of features designed to enhance your purchasing power and provide added benefits for travel and everyday spending.
- Annual Fee: $0
- Purchase Rate: 20.99%
- Cash Advance Rate: 22.99%
- Credit Limit: Up to $50,000
Benefits of the RBC Visa Platinum Credit Card
There’s a lot to appreciate about the RBC Visa Platinum Credit Card, especially if you value rewards and insurance coverage.
No Annual Fee
The most appealing feature is undoubtedly the absence of an annual fee. This makes it an attractive option for those who want to avoid unnecessary costs while still enjoying credit card perks.
Rewards Program
The RBC Visa Platinum Credit Card offers a rewards program that allows you to earn points on your purchases. Here’s how it works:
- RBC Offers: Get personalized offers for great brands before you shop, enabling you to earn bonus points faster.
- Fuel Savings: Link your card to Petro Canada for instant savings of 3 cents per liter and earn 20% more Petro points.
- Rexall Rewards: Earn 50 points for every dollar spent on eligible products at Rexall.
Pros and Cons of the RBC Visa Platinum Credit Card
As with any financial product, it’s essential to weigh the pros and cons before making a decision.
Pros
- No annual fee, making it budget-friendly.
- Wide range of rewards and savings opportunities, particularly at gas stations and pharmacies.
- Comprehensive travel insurance and assistance services.
- High credit limit potential of up to $50,000.
Cons
- High purchase and cash advance rates that may not be ideal for everyone.
- Rewards may not be as competitive compared to other premium cards.
- Limited international travel perks compared to some other credit cards.
Pricing and Fees
While the RBC Visa Platinum Credit Card has no annual fee, it’s important to be aware of the interest rates associated with the card:
- Purchase Rate: 20.99%
- Cash Advance Rate: 22.99%
It’s advisable to pay off your balance in full each month to avoid these high-interest charges.
Who Should Consider the RBC Visa Platinum Credit Card?
This card is particularly well-suited for individuals who:
- Want a basic credit card with no annual fee.
- Frequent local gas stations and pharmacies like Petro Canada and Rexall.
- Are looking for a credit card that offers good travel insurance and emergency assistance.