Skip to content Skip to footer

TD cash back visa vs RBC Cash back master card

TD cash back visa vs RBC Cash back master card

TD cash back visa vs RBC Cash back master card

This article compares TD Cash Back Visa vs RBC Cash Back Mastercard for rewards and benefits. Choose the best card for your cash back needs.

Overview

When choosing a credit card, cashback rewards are among the factors you must consider. TD Cash Back Visa and RBC Cash Back Mastercard are two popular cards that offer generous cashback rewards. In addition to cashback, these two credit cards also have their own benefits and unique features that can enhance your shopping experience and help you save money.

To help you choose between these two credit cards, we will explore the key features, credit score requirements, rewards programs, and fees. By the end of this article, you will know which of these two credit cards suits your shopping needs and financial goals. The key parameters we will use in this comparison include the following:

  • Fees
  • Reward programs
  • Insurance
  • Interest rates
  • Membership requirements
  • Other added benefits

So, without any further ado, let’s dive into the comparison.

Fees

Before committing to a credit card, comprehending the associated fees is paramount as they significantly impact the overall ownership and usage costs. To help you make an informed decision, let’s delve into a detailed exploration of the fees associated with both cards.

TD Cash Back Visa fees

  • Annual Fee: The TD Cash Back Visa does not charge any annual fees for maintaining your card
  • Foreign Transaction Fees: It charges 2.5% of each transaction made in US dollars.
  • Balance Transfer Fees: You will be charged a balance transfer fee of $5 or 3% of each transfer, whichever is greater.
  • Overlimit Fee: There is an overlimit fee of $29 if your account balance exceeds your card’s assigned credit limit.

RBC Cash Back Mastercard fees

  • Annual Fee: The BC Cash Back Mastercard does not charge an annual fee.
  • Foreign Transaction Fees: You will have to pay a foreign transaction fee of 2.5%
  • Balance Transfer Fees: You will be charged a maximum balance transfer fee of a 3%
  • Overlimit Fee: This card also charges an overlimit fee of $29 if your account balance goes beyond the assigned credit limit.

Reward Programs

These two cards have cashback rewards programs that play a significant role in determining the cash you can save on your purchases. Let’s compare the rewards programs of the TD Cash Back Visa and the RBC Cash Back Mastercard.

TD Cash Back Visa rewards

With this card, you can earn up to the following rewards:

  • 1% in Cash Back on eligible grocery, gas, and regularly recurring bill payments added to your account.
  • 5% in Cash Back on all the other purchases made with your card.
  • 50% more stars at participating Starbucks stores.
  • You can redeem your cash back once it reaches $25
  • Cash back dollars never expire as long as your account is open and in good standing.

RBC Cash Back Mastercard rewards

With this card, you can earn up to the following rewards:

  • 2% cash back on grocery store purchases
  • 1% on all other qualifying purchases and pre-authorized payments.
  • For gas, you will get 3¢/L of fuel and 20% more Petro-Points at Petro-Canada.
  • 50 Be Well points for every $1 on eligible Rellax products and;
  • Free delivery from DashDoor for three months.
  • Unlimited cash back rewards

Insurance Provided

Having insurance coverage with your credit card will always come in handy in various situations. Let’s walk you through the insurance options provided by these two credit cards.

TD Cash Back Visa insurance options

The TD Cash Back Visa offers various insurance options. These include:

  • Trip cancellation,
  • Trip Interruption Insurance,
  • Purchase Security and Extended Warranty, and
  • Visa Zero Liability.
  • Optional Travel Medical Insurance

RBC Cash Back Mastercard insurance options

With RBC Cash Back Mastercard, you will get insurance options such as:

  • Purchase security,
  • Extended warranty protection, and
  • Rental agency car protection for loss/damages.

Interest Rates

A card’s interest rate will significantly impact the annual cost of owning a credit card. Let’s compare the interest rates for the TD Cash Back Visa and the RBC Cash Back Mastercard.

TD Cash Back Visa interest rates

This Visa card charges an annual interest rate of 19.99% on purchases and 22.99% on cash advances.

RBC Cash Back Mastercard interest rates

RBC Cash Back Mastercard charges an annual interest rate of 20.99% on purchases and 22.99% on cash advances.

Membership Requirements

Before you consider applying for any of these credit cards, it’s essential to understand their membership requirements. Let’s walk you through some of the requirements for the
se two credit cards.

TD Cash Back Visa membership requirements

An estimated credit score of at least 725 is recommended to apply for the TD Cash Back Visa. The good news is that this card doesn’t have minimum income requirements, making it ideal for students and low-income earners.

RBC Cash Back Mastercard membership requirements

An estimated credit score of at least 725 is recommended before you apply for the RBC Cash Back Mastercard. It also doesn’t have any minimum income requirements

Other Added Benefits

Besides the primary features we share, there are additional benefits that might be a deal breaker when choosing between these two cards. Let’s explore them.

TD Cash Back Visa other benefits

  • It allows you to quickly turn purchases of $100 or more into 6, 12 or 18-month Payment Plans.
  • Offers free additional cardholder benefits
  • Offers an opportunity to save about 10% on car rental through Avis Rent A Car and Budget Rent A Car
  • Emergency cash advance

RBC Cash Back Mastercard other benefits

  • It allows you to temporarily lock your credit card at any time.
  • It has option add-on services, including Travel Insurance, RBC Road Assist, BalanceProtector Max Insurance, and Identity Theft & Credit Protection.
  • Offers free additional cardholder benefits

Frequently Asked Questions

When you receive the RBC credit card in your mail (usually within 14 business days), you will see a sticker on the card that provides the guidance you need.

Sometimes, the sticker  could contain numbers to call for activation or could require you conduct a pin transaction to activate the card

You can have as many credit cards as you want. (Rewards, travel, grocery store, etc.)

However, you should keep in mind the fees associated with maintaining them and determine overall if its ideal for your personal finance situation,

In This Article

Facebook
Twitter
LinkedIn
Pinterest
Email
Print

Leave a comment

Get the best financial tips, videos, courses and materials for free!