At a Glance:

• $0 annual fee
• Earn 2% cash back on groceries, no limits
• Earn up to 1% cash back on all other eligible purchases
• Purchase security and extended warranties
• Added insurance protection
• Zero liability for fraud

The RBC Cash Back Mastercard offers customers 2% cash back on something we all buy—groceries. The network of stores that participate in this rewards program is large, with Quality Foods, Loblaw, Walmart Superstores, Foodland and many more among the eligible retailers.

Cardholders gain access to this simple and convenient rewards system at no cost, and enjoy a variety of other benefits that RBC chose to attach to the card. These include Purchase protection on new items, and extended warranties that increase the time an item is covered by up to a year. Identity theft monitoring, credit monitoring, RBC roadside assistance and more are also available through the card for an added cost.

While missing the super-high earning rates of premium credit cards, cardholders will enjoy regular cash back flowing into their account, and all for free.

Why We Like It:

1. Freedom from Fees: There are cash back cards out there with similar benefit levels, but they usually impose an annual fee of up to $40 on cardholders.

2. Earn Rewards Fast: Cash back is earned consistently when shopping for items at the Mastercard network of grocery stores and supermarkets – a group with well over 60 participants. Most Canadians will find their favorite place to shop on this list.

3. Earn on Everything: When making non-grocery store purchases, the card earns up to 1.00% cash back, depending on how much was spent during the annual year. For those who have spent under $6,000 annually, non-grocery purchases earn cash back at 0.50%, and after this milestone, at 1.00%.

4. Protecting Purchases: Purchases are covered with insurance against damage and theft for 90 days after purchase, and those products that already come with a manufacturer’s warranty can get the warranty period doubled (for up to a year).

5. Zero Liability: No cardholder is liable for erroneous or fraudulent charges. This makes the card safe to use and carry everywhere, with no fear that identity theft will result in debts.

6. Extra Features: Cardholders who want more protective features on their RBC Cash Back Mastercard can access them for an extra fee. Security packages for credit monitoring and identity theft deterrence, travel insurance, RBC roadside-assistance to help stranded drivers, and more are available at an additional cost.

Is It Worth It?

Given its 2% earnings level for grocery purchases, the RBC Cash Back Mastercard might be best-suited for families with large monthly food purchases. The lack of an annual fee and the inclusion of extra features, such as purchase protections and zero liability, give it added value.

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