RBC Visa CreditLine for Small Business Review

  • 4 min read

Every small business needs a secure long-term platform to grow and hit revenue goals. Access to affordable lines of credit can help with this. In fact, a credit card dedicated to your business can not only help with unexpected costs, but also assist you to separate personal expenses from your company’s spending. This can come in handy during tax season, when you are looking for deductible purchases and receipts.

One of the best small business credit products in this regard is the RBC Visa CreditLine for Small Business. The interesting thing about this credit product is that combines the access to funds you may need for day-to-day operating costs with a credit line, but also offers the convenience of a credit card for other business spending. This is just the tip of the iceberg when it comes to its features and benefits.

With no annual fee to worry about, the Visa CreditLine also provides a competitive interest rate. Both purchase and cash advance transactions are charged at Prime + 2.9% to 11.9%. One additional card holder can be added to the account with no extra fee, which is perfect for anyone who co-owns an establishment where two cards are needed for one small business.

With that said, earning points through RBC’s Rewards program is a major plus. too. You earn a point for every $2 you spent (net purchases) on the Visa CreditLine, and points can add up fairly quickly! Under the program, you can redeem accumulated points for travel, merchandise, gift cards, or to pay back your balance. Merchandise options include products from Best Buy, and travel rewards can be redeemed for things like holiday packages, care rentals, tours, hotels, and cruises! Spend the points on yourself or find ways to use them to re-invest in your business.

Plus, the saving and discounts do not stop there. Users also gain access to reward points bonuses and savings through RBC’s Offers program, which includes promotions from Apple, Telus Business, Geek Squad (on the business side of things), as well as the Keg, Toys R Us, and more (for RBC personal clients). Use these offers on business or personal needs, the choice is yours.

Then there’s a layer of protection with the RBC Visa CreditLine that offers up a peace of mind. Purchase security insurance protects you against loss, damage, or theft for up to 90 days, on items charged on the card. Meanwhile, the extended warranty helps to double a manufacturer’s original warranty by up to one added year, for a maximum of 5 years. Lastly, RBC has a 24/7 fraud detection function that spans worldwide to keep you and your card protected, every minute and hour of the day. Plus, under Visa’s Zero Liability program, users are not held accountable for fraudulent transactions. Then there’s the card’s PIN and chip technology that also helps with security and keeping your card safe against any potential outside use.

The Visa CreditLine has an instant and temporary “Card Lock” feature, where you can log onto your RBC mobile app to lock (and unlock) your card if you’ve lost it temporarily. Speaking of the mobile app is also an excellent tool for managing purchases and payments for your credit line. Another benefit includes Visa payWave, where you can simply tap your card for small purchases. This works very well if you are in a hurry!

Combining a business credit line and credit card in one product is a major bonus, adding in a rewards program with no annual fee makes RBC’s Visa CreditLine the perfect solution to help open up funds when a small business may need them.

For more information:  RBC Visa CreditLine for Small Business.

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.