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Mr. Loonie
RBC Cash Back Preferred World Elite Mastercard

RBC Cash Back Preferred World Elite Mastercard

7.5
Good
Expert Score · 6 reviews How we score

Best for: People who spend a lot on groceries, dining, gas and transit and want flat high cash back

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Yours:
Your own amounts, saved on this device only
Every year
$552

Ranked #68 of 176 for year one. See the list

See how we worked it out
Annual fee
$120 a year
Apply now on RBC’s site (opens in a new tab)
Needs $80,000 personal or $150,000 household income
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from RBC’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

Is it for me? What you’d earn Can I get it? Fees Similar cards
3 quick questions

Is it for me?

Do you spend $350 or more a month on groceries, restaurants and food delivery?

Is your personal income $80,000 or more, or your household’s $150,000 or more?

Do you pay your card off in full most months?

Answer the 3 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: 3% back on groceries, restaurants, food delivery and gas

Watch for

  • Watch for: $120 a year You need about $350 a month on groceries, restaurants and food delivery to earn it back.
  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d earn

With typical spending of $2,500 a month.

  • Groceries $288
    3% back $800 a month · $288 a year
  • Restaurants $90
    3% back $250 a month · $90 a year
  • Gas $90
    3% back $250 a month · $90 a year
  • Recurring bills $30
    1% back $250 a month · $30 a year
  • Travel $18
    1% back $150 a month · $18 a year
  • Everything else $78
    1% back $650 a month · $78 a year
  • Foreign currency $18
    1% back $150 a month · $18 a year
For you Year one Later years
Cash back you earn $612 $612
Annual fee −$120 −$120
Foreign currency fee2.5% on $1,800 a year −$45 −$45
Rental car damage cover1 rental of 3 days at $35 a day $105 $105
Total $552 $552

Rows are rounded to the dollar. Insurance counts at what the same cover costs on its own, and only pays when you charge the trip, rental or phone to the card.

What counts in each category
Groceries
3% back
Restaurants
3% back Including EV charging
Food delivery
3% back Including food delivery purchases
Gas
3% back Including EV charging
Rideshare
3% back
Transit
3% back
Streaming
3% back Streaming and gaming
Everything else (base rate)
1% back
  • 3% cash back on transit and rideshare purchases
  • 3% cash back on streaming and gaming purchases

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Checked on Nov 8, 2026. Source

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Personal income $80,000 or more Issuer says
  • Household income $150,000 or more Issuer says
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Checked on Nov 8, 2026. Source

Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.

What critics say

Other reviewers on this card

7.5
Good
Expert Score How we score
  • Money We Have (opens in a new tab) Nov 2023

    “While there are some benefits to the RBC Cash Back Preferred World Elite Mastercard, the earning rate is low compared to some of the best cash back credit cards in Canada. In addition, the lack of benefits is disappointing. If you bank with RBC and want to stick with them, this card is perfectly acceptable, but better options are available elsewhere.”

  • Rewards Canada (opens in a new tab) Sep 2023

    “The RBC Cash Back World Elite Mastercard is the bank's premium cash back offering that offers a really good base cash back earn rate of 1.5% for up to $25,000 in purchases annually. On top of this is has good purchase insurance coverage and airport lounge access membership. Outside of that however the card does lack some of the extras that some of its direct competitors offer. I can't say it is a great card but its not a bad card either - it ends up roughly in the middle of the pack of cash back card options in Canada thanks to that 1.5% earn rate.”

  • Money.ca (opens in a new tab) Jul 2023
    8

    “The RBC Cash Back Preferred World Elite Mastercard is for that affluent upper-middle class working professional who prefers simplicity and transparency with their credit card loyalty programs. They want to accumulate cash back rewards, but they don’t want to have to think about it. It’s for the person who doesn’t want to have to manually switch into quarterly purchase categories each season or see the maximum potential cash back they could earn be neutered by tiered rates, caps and restrictions.”

  • SAVVY New Canadians (opens in a new tab) Feb 2023

    “The RBC Cash Back Preferred World Elite Mastercard is an excellent cash back credit card you can use to earn unlimited cash back at a rate of 1.5% on all your purchases. It’s a shame you can’t increase the earning potential for categories like groceries or gas. But the additional benefits, including the ability to save at Petro-Canada, Rexall and more, make it a great option.”

  • Yore Oyster (opens in a new tab) Oct 2022

    “The RBC Cash Back Preferred World Elite Mastercard is premium cash back credit card issued by the Royal Bank of Canada, one of the largest banks in Canada. It offers a flat cash back rate of 1.5% on all purchases with no annual limits, and it has a moderate annual fee of $99. With this card, you will earn bonus points when filling up at Petro-Canada gas stations, or when purchasing at Rexall drugstores. Additionally, you’ll have access to exclusive Mastercard World Elite benefits, plus you can choose RBC add-ons like medical insurance and roadside assistance to boost your card.”

  • MoneyGenius (opens in a new tab) Sep 2020
    6.8

    “This credit card offers a good flat cash back earn rate with a high spending cap. That means there’s no messing around with complicated spending categories – everything you spend will get you 1.5% cash back (as long as your annual spending is under $25,000). It’s $99 annual fee is also relatively low for a World Elite Mastercard, making it easier to justify. And the extra perks at Petro-Canada is just the cherry on top. But with high income requirements of $80,000 personal and $150,000 household, this card could be out of reach for a lot of Canadians. And it doesn’t really offer much else in terms of perks and benefits.”

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Car rental damage Included
  • Extended warranty Included
  • Purchase protection Included
  • Complimentary Boingo Wi-Fi account
  • Mastercard Airport Experiences provided by LoungeKey
  • Get $0 delivery fees for 12 months from DoorDash
Coverage limits

We haven’t recorded the coverage limits for this card yet. Read RBC’s insurance certificate before you count on any coverage.

Not included

Not listed for this card: travel medical, trip cancellation, trip interruption, flight delay, lost baggage and mobile device.

Fees and interest

What it costs

Annual fee
$120 a year
Purchase interest
21.99%
Cash advance interest
22.99%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
$50
Cash advance fee
$3.50, $5.00 fee for cash advances outside of Canada.
Balance transfer fee
3%, Maximum
Over-limit fee
$29
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
22.99%
Source
Issuer page

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With typical spending. This card: $552 year one, $552 every year after.

See all cards ranked for your spending

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the RBC Cash Back Preferred World Elite Mastercard?

$120 a year. Each extra card costs $50.

What income do I need?

RBC asks for $80,000 in personal income.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

21.99% on purchases. Cash advances are 22.99%.

Does it include insurance?

It lists extended warranty and purchase protection. Read the insurance certificate for the limits.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$552
a year for you
Apply now on RBC’s site (opens in a new tab)
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