RBC® Cash Back Preferred World Elite Mastercard Review

  • 4 min read

Collecting points on a credit card is great, but many clients these days prefer cash back. With the RBC® Cash Back Preferred World Elite Mastercard, customers can earn unlimited rewards on all their charged purchases. The annual fee on this credit card is set at $99, with no additional cost for supplementary cardholders. Clients earn 1.5% cash back on all spending with the Preferred World Elite Mastercard, and rewards are automatically accumulated, which makes it easy for clients to track what they’ve earned. 

Added benefits include a free Boingo Wi-Fi account, as well as bonus points that can be earned through Rexall’s customer loyalty program, Be Well. In fact, clients can collect 50 Be Well points for each $1 spent at the store. Plus, those who link their Petro Canada Petro-Points rewards card to this RBC Mastercard instantly save three cents per liter when they fuel up at participating gas stations. They also collect 20% more in Petro-Points.

The RBC® Cash Back Preferred World Elite Mastercard has a variety of insurance perks, as well. First off, each cardholder has Premium Purchase Protection, Extended Warranty, and Auto Rental Collision/Loss Damage Insurance. Customers also have protection options they can buy into that cover balances if a job is lost and added travel coverage. 

The Preferred World Elite provides exclusive offers from several subscription services (e.g., Ritual and Foodora) and access to Mastercard benefits and experiences. This is an ideal credit card for those who love to travel, with added cash back offers when using the credit card at international restaurants or retailers, plus other cash rebate options. Additionally, the Preferred World Elite offers cardholders access to the Mastercard Airport Experience, via LoungeKey. This free membership unlocks 800 and more airport lounges across the globe, with added deals provided by luxury brands. The Mastercard Airport Experience app must be downloaded, and some fees may apply for lounge access.

The RBC Cash Back Preferred World Elite Mastercard requires a minimum of $80,000 (personal income) or $150,000 (household income).

RBC Cashback Mastercard

The Preferred World Elite Mastercard offers some interesting rewards, perks, and benefits; however, there are RBC clients out there that might not need or want all the bells and whistles that come with the above credit card.

RBC® Cash Back Mastercard is an excellent alternative for people who want to earn cash back when using their credit card without all the extras. With no annual fee and no cost for added cardholders, customers still get unlimited cash back on all purchases charged on the card. Clients earn 2% back on groceries, and 1% back on all other spending, which includes pre-authorized bill payments. 

Cardholders still gain the same access to fuel savings and bonus points at Petro-Canada, as well as Be Well rewards at Rexall. Much like RBC’s Cash Back Preferred World Elite Mastercard, clients can add optional insurance extras. Purchase Security and Extended Warranty Protection are offered with the RBC Cashback Mastercard. There are no income requirements to apply for this credit card.

RBC Business Cash Back Mastercard

RBC also has a cash back Mastercard option for businesses! It has no annual fee and no cost for the first supplementary cardholder. With it Canadian business owners can earn cash back rewards and increase their cash flow when needed.

Clients earn 2% cash back on all spending on the card within the first 90 days of the account opening. After that, 1% is earned on all purchases. When the cash back balance hits $25, customers can arrange for the full amount to be placed against the account, at any time. There’s also an option for the cashback rewards to be credited against the Mastercard’s balance automatically, every January.

There are additional benefits to the card. Clients are instantly enrolled in Mastercard’s Easy Savings Program; with this, cardholders are given automatic rebates on services and products from participating retailers. As well, clients can sign into “RBC Offers” from their business Mastercard to take advantage of discounts and savings from popular brands, which include Apple, TELUS, and Geek Squad.

The RBC Business Cash Back Mastercard comes with the following protection and insurance coverage: Purchase Security, Extended Warranty, Fraud Prevention, and Enhanced Security. A linked Petro Canada Petro-Points card gives clients access to automatic fuel savings of three cents per liter, and 20% more in rewards points with the gas station brand.

All three of these RBC cash back Mastercards can be applied for online, with a fairly instant response. Customers can learn more about these credit cards and others offered at RBC® Cash Back Preferred World Elite Mastercard .

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Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.