New RBC Cash Back Preferred World Elite MasterCard

Another cash back credit card is being added to the market. The last one was the TD Cash Back Visa Infinite Card, this time is the RBC’s turn. They are now offering a Cash Back Preferred World Elite MasterCard with the following highlights:

  • $99 annual fee
  • No annual fee for supplementary cardholders
  • Earn 1.5% cash back on all purchases

This card also requires a minimum personal income of $70,000 or a minimum household income of $120,000. 

Let’s do a quick comparison with the TD Cash Back Visa Infinite Card:

  • $120 annual fee
  • $50 annual fee for supplementary cardholders
  • Earn 6% cash back on gas, grocery and recurring bill payments (for the first 3 months or first $3,500 in spending for each category)
  • Earn 3% cash back on gas, grocery and recurring bill payments thereafter (on first $15,000 in annual spending per category, including the 3 month bonus promotion)
  • Earn 1% cash back on all other purchases

Personally, I think that there are enough other no annual fee cash back credit cards out there that offer at least 2% or more. So you would only use this credit card one other types of spending that do not give you a multiple bonus. Let’s assume that you would use the RBC credit card only on spending that would have only netted you 1% return.

That means, if you spend $20,000 per calendar year:

  • $20,000 x 1% = $200 cash back with a no annual fee credit card
  • $20,000 x 1.5% = $300 cash back, but subtract the $99 annual fee only nets you $201.

Therefore, you would need to spend $20,000 per year, on spending categories that would have only earned you 1% cash back to come out ahead.

I am not impressed with this credit card, but I am glad to see more competition being introduced to the market. RBC just needs to improve this product over time, but at least they have something to work with.


  1. Another “meh” product in a long list of bank cc offerings in Canada. Not sure that this is actual “competition” within the marketplace. Canadian CC offerings are such a joke.

    1. It may not be “actual” competition, but I do see it as a product that they can build upon. Even if some customers switch over to this card, it means it is taking market share from another product, which in turn, I hope, would result in someone improving their product at some point?

  2. Small typo:

    “They are not offering a Cash Back Preferred World Elite MasterCard with the following highlights:”

    I think you meant “They are now offering a Cash Back…..” ?

  3. In your opinion, would this card be worth getting if the annual fee could be had at $49 instead of $99?

    1. Hi Chris,

      Good question, though it would highly depend on how much spending per calendar year. Let’s say you spend $20,000 per year, at 1.5% cash back, that would be $300 – $49 annual fee = $251 net. Versus a no annual fee card that earns you 1% cash back, at $20,000 x 1% = $200 net. Not to mention the 2% options.

      The most important factor in all this is how much annual spending you have.

      1. Thanks. My spend is minimal. I think my best option to go with my Tangerine credit card is the BMO Cash Back MasterCard. No annual fee plus 4% for for the first 4 months and 1% thereafter.

        I am looking for a minimal 1% cash back card to offset Tangerine’s dismal 0.5%.

    1. Yes it does. Basically the more you spend, the more worthwhile the 1.5% will be even with the $99 annual fee, when comparing to a 1% no annual fee card.

  4. i have a world elite with National bank and i pay 150 dollars per year. but this gives me free parking up to 100 dollars per year, also pays for luggage if they are over the weight up to maximum of 80 dollars same goes with seat selection up to 80 dollars a year. so if you travel once a year your annual fees basically are even

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