The RBC U.S. Dollar Visa Gold Credit Card offers an array of benefits, making it a powerful tool for managing U.S. dollar expenses. With a simple and rewarding structure, this card is ideal for those who frequently make purchases in U.S. dollars, offering them more flexibility and less hassle when it comes to currency conversion. Whether you’re traveling or making international purchases, this card stands out for its competitive rewards and practical features.
One of the standout advantages is its ability to save on foreign exchange fees while still allowing users to earn valuable Avion points. These rewards can be redeemed for a variety of items, from travel to merchandise. With the RBC U.S. Dollar Visa Gold, you’ll not only streamline your spending, but you’ll also be rewarded for it.
Key features of the RBC U.S. Dollar Visa Gold Credit Card
How does the annual fee work?
The RBC U.S. Dollar Visa Gold comes with a $65 USD annual fee, which can be paid upfront or in installments. While this is typical for a rewards credit card, some users may be eligible for fee waivers or reductions through promotional offers, making it more accessible depending on your spending habits.
How is the Credit Limit Determined?
Credit limits on the RBC U.S. Dollar Visa Gold Credit Card are determined by the financial institution based on various factors. For traditional credit cards, this includes your income level, credit score, and history with the bank. This ensures that the credit limit is in line with your ability to repay.
In contrast, for prepaid cards, the limit is typically set by the amount you deposit, giving you full control over your spending. The bank will approve a set limit, but with prepaid options, it’s up to you to top up as needed. With traditional credit cards, RBC’s evaluation criteria will determine your eligibility for higher credit limits based on your creditworthiness.
Advantages of the RBC U.S. Dollar Visa Gold Credit Card
The RBC U.S. Dollar Visa Gold Credit Card comes with a host of advantages, making it an ideal option for those who travel frequently or make regular purchases in U.S. dollars. Some key benefits include:
- Avoid Foreign Exchange Fees: The card allows you to bypass exchange rate fluctuations, saving you money when traveling or shopping in the U.S.
- Earn Avion Points: Earn 1 Avion point per U.S. dollar spent. Points can be redeemed for travel rewards, gift cards, and merchandise.
- Comprehensive Insurance Coverage: Enjoy peace of mind with travel insurance, including trip cancellation, lost baggage protection, and 24/7 travel assistance.
- Instant Fuel Savings: With Petro-Canada, you can save 3¢/L on fuel and earn 20% more Petro-Points for every purchase made.
These features combine to offer a significant value proposition, particularly for those who make regular U.S. dollar purchases.
What stands out: The rewards program
One of the most notable features of the RBC U.S. Dollar Visa Gold Credit Card is its rewards program. By earning 1 Avion point for every U.S. dollar spent, cardholders quickly accumulate points that can be redeemed for a range of rewards. Whether you’re looking to book your next vacation, purchase gifts, or redeem for RBC Financial Rewards, these points give you flexibility in how you use them.
Additionally, the card offers a variety of special offers, such as bonus points at selected retailers, making it even easier to earn rewards faster. Plus, the personalized offers available through RBC’s system can help you save on everyday purchases, maximizing your benefits.
Disadvantages of the RBC U.S. Dollar Visa Gold Credit Card
While the RBC U.S. Dollar Visa Gold Credit Card offers many benefits, there are some drawbacks to consider. Here are a few:
- Annual Fee: The $65 USD annual fee may not be appealing to everyone, especially if you don’t spend a significant amount in U.S. dollars.
- Purchase Interest Rates: The 20.99% purchase rate is on the higher end for some users, especially if you’re carrying a balance month to month.
- Limited Cash Advance Options: The 22.99% cash advance rate is another consideration for those who might need to use their card for emergencies.
The main drawback: High purchase interest rates
The most significant downside of the RBC U.S. Dollar Visa Gold Credit Card is its relatively high purchase interest rate of 20.99%. If you don’t pay off your balance in full each month, this can add up quickly, making the card less favorable for those who tend to carry a balance. While the rewards and benefits are attractive, it’s essential to be mindful of the interest rates to avoid paying more than necessary.
Who can apply for this card?
To apply for the RBC U.S. Dollar Visa Gold Credit Card, applicants must meet certain criteria. These include:
- Minimum Age: 18 years or older.
- Minimum Income: A steady income to demonstrate the ability to repay the credit balance.
- Good Credit History: A strong credit score will increase your chances of approval.
- Residency: Available to residents of Canada.
- No Negative Credit History: Applicants with poor credit history may find it harder to get approved.
While it is available to individuals with a good credit history, those with a less-than-perfect credit score may still be able to apply for other RBC credit products designed for them.
How to apply for the RBC U.S. Dollar Visa Gold Credit Card
The process to apply for the RBC U.S. Dollar Visa Gold Credit Card is simple and can be done online, via the mobile app, or at an RBC branch. Here’s how to apply in detail:
Apply Online
Visit the RBC website and complete the online application. You’ll need to provide personal details, proof of income, and your consent to a credit check. The application process is secure and should take only a few minutes to complete.
Apply via the RBC Mobile App
If you prefer using a mobile device, you can apply for the card directly through the RBC mobile app. The app is easy to navigate and provides a smooth application experience.
Apply at an RBC Branch
For those who prefer in-person interactions, RBC branches offer the option to apply directly with a customer service representative.
