Quickly, not solely will it turn out to be simpler and sooner to redeem money again, however you received’t have to attend to build up a $25 minimal quantity.
In accordance with an announcement from the financial institution on Monday, the modifications will kick in on Dec. 2, 2026.
Holders of the RBC Cash Back Mastercard and the RBC Cash Back Preferred World Elite Mastercard will likely be affected by the modifications.
RBC Money Again Mastercard: What modifications on Dec. 2?
Proper now, in keeping with RBC’s cash back updates page, you’ll be able to solely redeem by cellphone, and your steadiness must be a minimum of $25.
From Dec. 2, you’ll have the ability to redeem via RBC On-line Banking, the RBC Cellular app or by cellphone, with a $1 minimal.
You’ll additionally have the ability to redeem all or a part of your steadiness, so long as the quantity is a minimum of $1. RBC says you’ll be able to examine your steadiness in both on-line banking or the cellular app, and that rewards accumulate indefinitely, so there’s no strain to money out on a schedule.
Auto-redemption goes away
The opposite half of the change is that, traditionally, each playing cards have paid out money again mechanically annually. RBC says that computerized redemption ends on Dec. 2, and from then on you determine when to redeem.
That works higher should you’d reasonably hold your steadiness rising or time a redemption your self. It additionally means the money again received’t land in your account by itself anymore, so it’s price setting a reminder.
The updates web page doesn’t say whether or not a steadiness that might have been paid out mechanically this 12 months nonetheless will likely be, so you probably have a large steadiness, ask RBC how will probably be dealt with.
A number of guidelines to know earlier than you redeem:
- Solely the first cardholder or co-applicant can request a redemption. Approved customers, together with further cardholders on the Most popular card, can’t money out on their very own.
- Redemption requests are closing and may’t be cancelled.
- Redemption credit don’t depend towards your minimal cost, so that you’ll nonetheless must make your common cost on time.
Key dates for latest and upcoming RBC modifications
Redemptions are the final piece of the replace to land this 12 months.
Right here’s the timeline, per RBC:
- Oct. 1: New earn charges, the elimination of annual spending caps and the brand new charges took impact, as MoneySense reported in August.
- Dec. 2: The brand new redemption guidelines take impact and computerized redemption ends.
- Dec. 30: The deadline to shut your account or swap to a different RBC bank card with out price or penalty should you don’t settle for the modifications. You could notify RBC earlier than then and pay your full steadiness.
Adjustments to the RBC Money Again Most popular World Elite® Mastercard® — supply: RBC, “Updates to RBC Money Again Credit score Playing cards”
Kicked in October 1, 2026
| What modified | Earlier than Oct. 1 | Now |
|---|---|---|
| Annual payment | $99 | $120 |
| Extra (supplementary) cardholder payment | $0 | $50 per further card |
| Buy rate of interest (APR)* | 20.99% | 21.99% |
| Money again – groceries, eating, eating places & meals supply | As much as 1.5% | 3%, limitless |
| Money again – gasoline, EV charging, public transit & rideshare | As much as 1.5% | 3%, limitless |
| Money again – streaming & digital gaming (new class) | As much as 1.5% | 3%, limitless |
| Money again – all different purchases | As much as 1.5% | 1%, limitless |
| Annual spending cap on money again incomes | Bonus charge utilized on first $25,000/yr in purchases; 1% earned above that | No cap — full charge applies to each eligible buy |
| Insurance coverage protection | Not included | Provides Out of Province/Nation Emergency Medical Insurance coverage, Flight Delay & Delayed Baggage Insurance coverage, and Cellular System Insurance coverage |
Efficient December 2, 2026
| What’s altering | Present | New |
|---|---|---|
| Minimal redemption quantity | $25 | $1 |
| redeem | By cellphone solely | On-line Banking, RBC Cellular app, or by cellphone |
| Redemption timing | Money again mechanically redeemed annually, in December | Redeem anytime, in any quantity above the $1 minimal — no computerized annual redemption |
| Choose-out choice | — | Cardholders can shut the account or swap to a different RBC bank card for gratis, penalty, or cancellation indemnity by notifying RBC earlier than Dec 30, 2026 |
*The brand new buy rate of interest takes impact on the primary day of the cardholder’s assertion interval starting on or after October 1, 2026. Affirm present phrases at
rbcroyalbank.com.
What RBC Money Again Mastercard holders ought to
The redemption replace arrives alongside modifications which can be already in impact.
The RBC Cash Back Preferred World Elite Mastercard now earns a vast 3% on groceries, eating, gasoline, EV charging, transit, rideshare, streaming and digital gaming, and 1% on all the pieces else. Its annual payment rose to $120 from $99, and extra playing cards now price $50.
The RBC Cash Back Mastercard retains its $0 annual payment and now earns a vast 2% on groceries, 1% on gasoline, EV charging, transit and rideshare, and 0.5% on all the pieces else. Each playing cards’ buy rate of interest rose to 21.99% from 20.99%, in keeping with RBC’s updates web page. The Most popular card additionally has revenue necessities of $80,000 private or $150,000 family, per RBC’s card page.
For those who’re excited about closing the cardboard earlier than the Dec. 30 deadline, ask what occurs to any unredeemed money again first.
