Ms. Julia Miller reports

RBC ENHANCES CASH BACK MASTERCARD PORTFOLIO WITH UNLIMITED CASH BACK AND ON-DEMAND REDEMPTIONS

Royal Bank of Canada (RBC) has made major enhancements to its cash back credit cards, including the RBC Cash Back Mastercard and the RBC Cash Back Preferred World Elite Mastercard. Designed to put more money back into Canadians' pockets, the updated cards introduce new accelerated cash back earning rates across everyday spending categories, with unlimited earning potential and no caps on how much cash back cardholders can earn at their respective rates.

• New accelerators reward everyday spending, with unlimited cash back rewards for cardholders;
• The RBC Cash Back Preferred World Elite Mastercard introduces unlimited 3-per-cent cash back on high-frequency everyday spending categories like groceries, dining, gas, EV (electric vehicle) charging, transit, ride-share, streaming and digital gaming;
• Starting December, 2026, cardholders can redeem their cash back balance anytime via on-line or mobile banking starting at just $1;
• Preferred World Elite cardholders gain new premium protections, including emergency medical, flight and baggage delay, and mobile device insurance.

"Canadians are looking for straightforward, high-value rewards that seamlessly align with their daily expenses," said Vinita Savani, executive vice-president, cards and loyalty, RBC. "By introducing new accelerated cash back rates with no earning caps across popular everyday spending categories, from grocery runs and EV charging to streaming subscriptions, we are providing our clients with value and freedom in how they earn and redeem their rewards."

What are the new earning rates and benefits for RBC Cash Back cards?

Both cards now feature new accelerated cash back earn rates designed around everyday spending habits, alongside additional suite benefits:

• RBC Cash Back Mastercard:
  • Unlimited 2-per-cent cash back: on groceries;
  • Unlimited 1-per-cent cash back: on gas, EV Charging, ride share and transit;
  • Unlimited 0.5-per-cent cash back: on all other net purchases.
• RBC Cash Back Preferred World Elite Mastercard:
  • Unlimited 3-per-cent cash back: on groceries, dining (including restaurants, takeout and food delivery), gas, EV charging, transit, ride share, streaming and digital gaming;
  • Unlimited 1-per-cent cash back: on all other net purchases;
  • Enhanced insurance: adds out-of-province/country emergency medical insurance, flight delay and delayed baggage insurance, and mobile device insurance, joining existing purchase security, extended warranty and auto rental collision/loss damage waiver coverage.
• RBC's Avion Rewards loyalty program:
  • Both cash back cards also provide access to Avion Rewards' network of partnerships, including Petro-Canada, Canadian Tire Corp., Metro's Moi Rewards program, Pattison Food Group, DoorDash and Rexall, giving cardholders additional value and savings beyond cash back and the other benefits included with their card.

How and when can cardholders redeem their cash back rewards?

Alongside enhanced earning rates, RBC is simplifying the redemption experience. Effective December, 2026, cardholders can redeem their cash back anytime through RBC Online Banking or the RBC Mobile app, once their balance reaches a minimum of just $1. Balances can be checked through either platform and rewards accumulate indefinitely, offering greater control and flexibility.

When do these changes take effect for existing and new cardholders?

For existing and new cardholders, new earn structures took effect automatically on Oct. 1, 2026, with the new flexible redemption features going live in December, 2026.

The annual fee for the RBC Cash Back Preferred World Elite Mastercard primary cardholder is now $120 and $50 per additional cardholder. The standard RBC Cash Back Mastercard retains its $0 annual fee.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. RBC's success comes from the 105,000-plus employees who leverage their imaginations and insights to bring its vision, values and strategy to life so RBC can help its clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, the bank has a diversified business model with a focus on innovation and providing exceptional experiences to its more than 19 million clients in Canada, the U.S. and 27 other countries.