RBC Cash Back Mastercard
A reasonable no-fee grocery card now that the $6,000 cap is gone, but the 0.5% base rate means it only pays off for households whose spending leans on groceries and commuting.
- Annual fee
- $0
- Welcome offer
- ≈ $100101 days left
- First-year value
- ≈ $210estimated
The offer: 5% extra cash back on your first $2,000 of purchases in the first 6 months, on top of the standard rates (up to $100); apply by February 2, 2027
Rewards math assumes you pay your balance in full every month — interest charges quickly exceed any rewards value.
The case
What it does well, and what it costs you
Why it earns its score
- 2% cash back on groceries with no annual fee and no annual cap
- 1% on gas, EV charging, transit and rideshare
- From December 2, 2026, cash back redeems any time from $1 in online banking or the RBC app
Where it loses points
- Costco and Walmart code as warehouse clubs, so groceries bought there earn 0.5%, not 2%
- Only 0.5% on everything outside groceries, gas and transit
- No travel or rental-car insurance
The details
Earn rates, fees and coverage
| Earn rate | Rate |
|---|---|
| Groceries (grocery stores and supermarkets; not Costco or Walmart) | 2% |
| Gas, EV charging, transit and rideshare | 1% |
| Everything else | 0.5% |
- Annual fee
- No annual fee
- Interest rates
- 21.99% purchases · 22.99% cash advancesCash-advance rate 21.99% in Quebec.
- Included insurance
- Purchase security · Extended warranty
Data caveat: RBC reworked this card on October 1, 2026: the $6,000 annual cap and the 1% step-up past it are gone, gas, EV charging, transit and rideshare now earn 1%, and the purchase rate rose to 21.99%. The 2% grocery rate applies only at merchants Mastercard codes as grocery stores and supermarkets (MCC 5411); RBC says Costco and Walmart earn 0.5%. Verified on RBC's product page and its cash-back updates page on 2026-10-04.
The score
How we scored it
Six weighted components, each rated 0–10. Rating × weight is what each one contributes; together they make a raw 5.20, published as 5.2.
See the evidence behind each rating
The facts are structured; the rating remains an editorial judgment. Open any component to audit what was considered without mistaking the evidence for an automatic formula.
First-year value4.5/10
The anchor fixes the starting point; the 0.5-point reduction is within the published maximum and makes the reachability judgment visible.
- $210 first-year net value maps to a 5.0/10 baseline.
- Published first-year input: 4.5/10 (-0.5 versus baseline).
Ongoing value5.0/10
This input judges recurring earn and cash-like credits after the annual fee; the welcome offer and non-cash perks are excluded.
- No annual fee.
- Published earn: 2%: Groceries (grocery stores and supermarkets; not Costco or Walmart); 1%: Gas, EV charging, transit and rideshare; 0.5%: Everything else.
- No cap is stated in the structured earn rows.
Flexibility6.5/10
This input judges how easily Cash back can become useful value without forcing one narrow redemption path.
- Reward currency: Cash back.
- Flexibility evidence: From December 2, 2026, cash back redeems any time from $1 in online banking or the RBC app
Perk usability3.5/10
This input credits non-cash benefits at realistic use, separate from cash-like credits already counted in ongoing value.
- No airport lounge access.
- 2 published insurance benefits: Purchase security; Extended warranty.
Low friction8.5/10
This input combines network acceptance, caps, conditions, eligibility, and operational effort; a higher rating means less friction.
- Mastercard acceptance; 2.5% foreign-transaction fee.
- No published income minimum.
Strategic fit5.0/10
This input asks whether the card fills a distinct role in a small wallet rather than duplicating another card; redemption quality is not counted again here.
- Ranking roles: cash-back, groceries-dining.
- Fit case: No-fee shoppers who buy groceries at supermarkets rather than Costco or Walmart and want simple, uncapped cash back.
- Main conflict: Most of your spending falls outside groceries, gas and transit, where this card pays only 0.5%; a flat-rate no-fee card earns more.
Offer history
Welcome-offer history
Today’s offer matches the highest value we’ve tracked since Jul 19, 2026.
We log every change to this offer, so you can judge whether today’s is genuinely strong or just loudly advertised.
All recorded offers (3)
| Offer | Est. value | Recorded | Status |
|---|---|---|---|
| 5% extra cash back on your first $2,000 of purchases in the first 6 months, on top of the standard rates (up to $100); apply by February 2, 2027 | ≈ $100 | Oct 4, 2026 | Current |
| Up to 7% cash back for the first 3 months on up to $1,000 in purchases; apply by September 30, 2026 | ≈ $65 | Aug 23, 2026 – Oct 4, 2026 | Replaced |
| Up to 7% cash back for the first 3 months on up to $1,000 in purchases; apply by September 9, 2026 | ≈ $65 | Jul 19, 2026 – Aug 23, 2026 | Replaced |
Already have it?
Should you keep it?
There’s no annual fee, so keeping it costs nothing; the only renewal question is whether a different no-fee card would earn more on your spending. Check the rankings or the card finder if you suspect it would.
The bottom line
Is it the right card for you?
Who it’s for
No-fee shoppers who buy groceries at supermarkets rather than Costco or Walmart and want simple, uncapped cash back.
Who should skip it
Most of your spending falls outside groceries, gas and transit, where this card pays only 0.5%; a flat-rate no-fee card earns more.
Rewards math assumes you pay your balance in full every month — interest charges quickly exceed any rewards value.
Source: issuer card page · Last reviewed Oct 4, 2026. Details change often: confirm current terms with the issuer before applying.
Was this review useful?
Alternatives