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Mr. Loonie
RBC Cash Back Mastercard

RBC Cash Back Mastercard

8.0
Very good
Expert Score · 5 reviews How we score

Best for: Grocery shoppers who want simple cash back with no annual fee

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
$264

Ranked #113 of 176 for year one. See the list

See how we worked it out
Annual fee
None
Apply now on RBC’s site (opens in a new tab)
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

What you’d earn Can I get it? Fees Similar cards
From the numbers

The good and the bad

Stands out

  • Good: 2% back on groceries
  • Good: No annual fee It costs nothing to keep.

Watch for

  • Watch for: Everything else earns 0.5% back That’s low for everyday spending.
  • 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 $192
    2% back $800 a month · $192 a year
  • Restaurants $15
    0.5% back $250 a month · $15 a year
  • Gas $30
    1% back $250 a month · $30 a year
  • Recurring bills $15
    0.5% back $250 a month · $15 a year
  • Travel $9
    0.5% back $150 a month · $9 a year
  • Everything else $39
    0.5% back $650 a month · $39 a year
  • Foreign currency $9
    0.5% back $150 a month · $9 a year
For you Year one Later years
Cash back you earn $309 $309
Annual fee $0 $0
Foreign currency fee2.5% on $1,800 a year −$45 −$45
Total $264 $264

Rows are rounded to the dollar.

What counts in each category
Groceries
2% back
Gas
1% back Including EV charging
Transit
1% back
Rideshare
1% back
Everything else (base rate)
0.5% back

1% cash back on rideshare and transit 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
  • Newcomer program RBC Newcomer Advantage For permanent residents and international students who arrived in the last 12 months, and temporary workers who arrived in the last 48 months. No credit history needed, with a limit up to $15,000 based on income.
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

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

8.0
Very good
Expert Score How we score
  • SAVVY New Canadians (opens in a new tab) Dec 2023
    8

    “The RBC Cash Back Mastercard offers a competitive 2% earnings rate on grocery purchases and up to 1% on everything else. Given its no-annual-fee status, it is worth considering if you are in the market for a viable cash back rewards card.”

  • Money.ca (opens in a new tab) Jul 2023
    9

    “If you’re an avid grocery shopper looking for a no-fee cash back credit card with accessible qualification requirements, the RBC Cash Back Mastercard is an excellent starting point. This credit card is widely accepted and lets you earn 2% cash back on groceries² and up to 1% cash back on everything else². For a no-fee credit card, this is an excellent cash back rate.”

  • Reviewlution (opens in a new tab) Oct 2022

    “Hopefully, our RBC Cash Back Mastercard review helped you gain insight into the features this card offers. The RBC cash back credit card is a terrific option for everyday spending. With its cashback rewards program on groceries and other purchases, cardholders can rest assured knowing this card’s got everything covered. However, it might be best to look elsewhere if you’ve got a case of the travel bug, as this card, unfortunately, lacks travel perks.”

  • HowToSaveMoney.ca (opens in a new tab) Dec 2020
    8.6

    “The RBC Cash Back Mastercard is a decent option for anyone with moderate annual spend looking to earn cash back at a competitive rate (for no annual fee). It also gives card holders 3 cents off per litre of fuel at Petro-Canada gas stations, which is very handy for anyone who buys gas there regularly. As an added bonus – since it’s a Mastercard, it’s accepted at Costco locations in Canada. The credit card does have some drawbacks though. This includes its 2.5% foreign currency fee (which is standard for most cards) and its lack of travel insurance coverage. But the biggest potential drawback is that the earn rate is somewhat confusing.”

  • My Rate Compass (opens in a new tab) Sep 2020
    8

    “Good cash back card with no annual fee and Unlimited Cash Back Credits on Your Purchases. The RBC Cash Back Mastercard has a slightly complicated rewards structure. You earn 2% cash back on your first $6,000 in grocery store purchases every year, and 1% thereafter, unlimited. On all other purchases, you earn 0.5% on the first $6,000 and 1% thereafter, unlimited.”

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

  • Extended warranty Included
  • Purchase protection Included
  • Mobile wallets Samsung Pay
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, car rental damage and mobile device.

Fees and interest

What it costs

Annual fee
None
Purchase interest
21.99%
Cash advance interest
22.99%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
None
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: $264 year one, $264 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 Mastercard?

There is no annual fee.

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

$264
a year for you
Apply now on RBC’s site (opens in a new tab)
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