RBC Business Cash Back Mastercard Review

Canadian entrepreneurs, get ready to turn your everyday business expenses into tangible savings with the RBC Business Cash Back Mastercard! 

The RBC Business Cash Back Mastercard understands the needs of modern businesses, providing a practical solution for managing expenses and maximizing returns. 

With its straightforward cash back structure, valuable partner benefits that offer immediate discounts, and essential purchase protections, this card is more than just a payment tool; it’s a smart financial partner dedicated to helping your business thrive. It’s time to make your business spending work for you!

CREDIT CARD

RBC Business Cash Back Mastercard

1% Cash Back $0 annual fee

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Benefits: Your Business’s Financial Advantage

The RBC Business Cash Back Mastercard is tailored to provide real value and convenience for Canadian businesses.

1. No Annual Fee: This is a significant advantage for any business looking to manage costs effectively! You can enjoy all the benefits of this cash back card without paying an annual fee for the primary card, helping your business save money from day one.
2. Solid Cash Back on All Purchases: Earn a consistent 1% cash back on all your net qualifying purchases for the first $50,000 spent annually. After that, you’ll continue to earn 0.5% cash back on all further net purchases. 
3. Generous Welcome Offer: Give your business a financial head start! New cardholders are often greeted with an attractive welcome offer, such as earning 2% cash back for the first 3 months on qualifying purchases, up to a certain spending cap.
4. Instant Fuel Savings at Petro-Canada: Keep your business vehicles running for less. Link your RBC Business Cash Back Mastercard to a Petro-Points card to instantly save 3¢ per litre on fuel and earn 20% more Petro-Points at Petro-Canada locations.
5. Bonus Be Well points at Rexall: Get more from your business’s health and wellness purchases. Link your card with your Be Well account and earn 50 Be Well points for every $1 spent on eligible products at Rexall when you scan your Be Well card and pay with your linked RBC card.
6. Complimentary DashPass Subscription: Save on business meals and catering. Cardholders receive a 3-month complimentary DashPass subscription from DoorDash, giving you unlimited deliveries with $0 delivery fees on eligible orders.
7. Add Employee Cards at No Extra Cost: Streamline your business expenses and consolidate rewards. You can add up to 9 additional employee cards at no annual fee, making it easier to manage team spending while all cash back earned accumulates in the primary business account.

Who Can Apply: Eligibility Criteria for Your Business

The eligibility requirements for the RBC Business Cash Back Mastercard are designed for Canadian businesses:

• Business Operation: Your business must be operating in Canada.
• Age of Majority: The primary applicant (business owner or authorized signing officer) must have reached the age of majority in their province or territory.
• Canadian Resident: The primary applicant must be a Canadian resident.
• Creditworthiness: RBC will assess the creditworthiness of both the business (if applicable, depending on structure) and the personal credit history of the business owner(s)/applicant(s). A good personal credit score is typically required.
• Business Information: You will need to provide information about your business, such as its legal name, address, nature of business, and potentially its revenue and years in operation.

How to Apply: Steps to Secure Your Business Card

Applying for the RBC Business Cash Back Mastercard can typically be done online, by phone, or by visiting an RBC branch.

1. Prepare Your Information: Gather your personal details (name, address, SIN, date of birth) and your business information (legal business name, address, phone number, business structure, industry, annual revenue, etc.).
2. Visit the RBC Website: Go to the official RBC Royal Bank website and navigate to the “Business” section, then “Credit Cards.”
3. Select the Card: Locate the “RBC Business Cash Back Mastercard” and review its features, benefits, current welcome offer, and terms and conditions.
4. Start the Application: Click on the “Apply Now” button for the online application, or choose to apply by phone or make an appointment at a branch.
5. Complete the Application Form: Fill out the form thoroughly with both your personal and business details as required.
6. Consent to a Credit Check: You (and any other business principals involved) will need to consent to a credit check.
7. Submit Required Documentation (if applicable): Depending on your business structure, you may be asked to provide additional documentation, such as business registration or financial statements.
8. Review and Submit: Carefully check all information for accuracy before submitting the application.
9. Await a Decision: RBC will review your application. For business cards, the review process can sometimes take longer than for personal cards. You will be notified of the decision.

Frequently Asked Questions (FAQ)

1. How is the cash back redeemed?
   Cash back is automatically credited to your business credit card statement annually in January.
2. What kind of insurance benefits are included?
   The card includes Purchase Security (90 days) and Extended Warranty (up to one additional year).
3. Does this card include travel insurance?
   No, the RBC Business Cash Back Mastercard typically does not include travel medical or trip cancellation insurance. Its focus is on cash back and purchase protection.
4. How does this card help with expense management?
   It helps by separating your business spending from personal expenses, providing clear monthly statements, and allowing you to add employee cards to track their spending under one account. RBC may also offer integration with some accounting software or additional online reporting tools.
   

CREDIT CARD

RBC Business Cash Back Mastercard

1% Cash Back $0 annual fee

APPLY NOW You will be redirected