The RBC Cashback Mastercard is a no-annual-fee credit card designed for everyday Canadians who want simple cash back on groceries without the complexity or cost of premium rewards programs. It's one of RBC's entry-level cash back products and is often recommended as a first credit card or a secondary everyday spend card.
Annual fee: $0
Income requirement: None stated (flexible approval)
Interest rate: 19.99% purchases / 22.99% cash advances
Welcome bonus: Varies — typically a cash back boost for the first 3 months
Network: Mastercard
The RBC Cashback Mastercard earns:
Note: The 2% grocery rate is subject to a monthly cap of $6,000 in grocery purchases. Beyond that cap, grocery purchases earn 1%. For most households, this cap is never reached. The 1% base rate on everything else is solid for a no-fee card, though not exceptional compared to the Tangerine card's 2% in chosen categories.
Cash back on the RBC Cashback Mastercard is redeemable in January each year. It is applied as a statement credit and requires a minimum accumulated balance of $25. This once-a-year redemption schedule is the card's biggest limitation — many competing no-fee cards offer monthly cash back access.
Given the no-fee positioning, insurance coverage is minimal:
There is no travel insurance, roadside assistance, or Mastercard World Elite benefits on this card. For travellers or those wanting comprehensive coverage, a premium card would be more appropriate.
The RBC Cashback Mastercard holds up reasonably well as a no-fee grocery card, but the Tangerine Money-Back card offers 2% in up to three chosen categories (including groceries) with monthly cash back access — making it a stronger no-fee option for most Canadians.
Where the RBC card shines is simplicity: no category selection required, no minimum income, and the assurance of a major bank backing. For RBC banking customers who want a low-maintenance card, it does the job.
The RBC Cashback Mastercard is best suited for current RBC banking customers who want a simple, no-fee card with decent grocery rewards and no complexity. It also works well as a secondary card for someone who already has a premium card and wants a backup with no annual fee.
The RBC Cashback Mastercard is a serviceable no-fee card, but not the best in its class. If your primary goal is maximizing no-fee cash back, the Tangerine Money-Back or PC World Elite Mastercard will likely serve you better. However, for existing RBC customers who prefer banking loyalty and simplicity, it's a perfectly adequate choice.
KOHO offers up to 5% cashback with no annual fee and no interest charges ever. As a prepaid Mastercard, it removes the risk of credit card debt while still rewarding everyday spending. Many Canadians use KOHO alongside their main credit card.
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