Overview
The RBC Cash Back Preferred World Elite Mastercard is RBC's premium cash back card — offering a simple 1.5% unlimited cash back on every purchase regardless of category. No tracking grocery vs. gas vs. dining categories — everything earns the same flat rate.
What sets this card apart from basic cash back cards is the premium perks: access to 1,300+ airport lounges worldwide via Dragon Pass, rental car insurance, and a full year of complimentary DoorDash DashPass — benefits typically reserved for travel rewards cards.
Limited-Time Welcome Offer
RBC is currently offering 12% cash back for the first 3 months on up to $2,000 in total purchases. Apply by March 25, 2026 to qualify. That's up to $240 in bonus cash back — more than enough to cover two years of the annual fee.
Earning Cash Back
The earning structure couldn't be simpler:
- 1.5% cash back on every single purchase — groceries, gas, dining, online shopping, bills, everything
Cash back is unlimited — no annual cap. On $3,000/month in total spending, you'd earn $540 in cash back per year, netting $441 after the $99 annual fee.
Break-Even Analysis
To justify the $99 fee over a free 1% cash back card, you need to spend about $19,800/year (~$1,650/month). Above that, every dollar earns you more with this card.
Premium Benefits
Airport Lounge Access
Mastercard Travel Pass powered by Dragon Pass gives you access to 1,300+ airport lounges worldwide. This is a standout perk for a cash back card — most lounge access comes only with travel rewards cards.
Insurance Coverage
- Purchase Security — Protection against loss, theft, or damage on eligible purchases
- Extended Warranty Insurance — Extends the manufacturer's warranty
- Rental Car Insurance — Collision/damage coverage when you rent and pay with the card
Mastercard World Elite Benefits
- On-demand apps & subscription services — Special benefits from a curated lineup of services
- Mastercard Travel Rewards — Cash back offers when you shop, dine, and travel outside Canada
- Fraud Protection — Zero liability on unauthorized transactions
RBC Partner Perks
- Petro-Canada — Save 3¢/L on fuel and earn 20% more Petro-Points
- Rexall — Earn 50 Be Well™ points per $1 on eligible purchases
- DoorDash — 12-month complimentary DashPass subscription (nearly $120 value) with $0 delivery fees on qualifying orders
RBC Cash Back Card Comparison
| Feature | Cash Back Mastercard ($0) | Cash Back Preferred World Elite ($99) |
|---|---|---|
| Annual fee | $0 | $99 |
| Grocery cash back | 2% | 1.5% |
| All other purchases | 1% | 1.5% |
| Welcome bonus | Up to 7% for 3 months | 12% for 3 months |
| Purchase Security | ||
| Extended Warranty | ||
| Rental Car Insurance | ||
| Airport lounges | 1,300+ via Dragon Pass | |
| DoorDash DashPass | 6 months | 12 months |
| Income requirement | None | $80K / $150K |
The key trade-off: the free card earns more on groceries (2% vs 1.5%) but less on everything else (1% vs 1.5%). If you spend more outside grocery stores than in them, the World Elite pulls ahead — plus you get lounge access, rental car insurance, and double the DashPass subscription.
Drawbacks to Consider
$99 Annual Fee
Unlike the free RBC Cash Back Mastercard, this card costs $99/year. You need to spend roughly $1,650/month to break even compared to a free 1% card.
No Travel Medical Insurance
Despite the premium positioning and lounge access, this card does not include travel medical insurance. If you travel, you'll still need emergency medical coverage from another source.
No Trip Cancellation Insurance
Trip cancellation and trip interruption insurance are also not included. For comprehensive travel protection, you'd need a travel rewards card alongside this one.
2.5% Foreign Transaction Fee
Standard 2.5% FX fee on non-CAD purchases — unusual for a card with lounge access that clearly targets travellers.
Income Requirement
You need a minimum $80,000 personal income or $150,000 household income to qualify — a higher bar than most cash back cards.
Who Is This Card Best For?
This card is an excellent choice if you:
- Want a simple flat-rate cash back card — 1.5% on everything, no category tracking
- Spend heavily across diverse categories (not just groceries)
- Value airport lounge access but don't want a full travel rewards card
- Want rental car insurance included
- Appreciate the 12-month DoorDash DashPass (~$120 value)
- Meet the $80,000/$150,000 income requirement
It's not the best choice if you:
- Spend mostly on groceries — the free RBC Cash Back Mastercard earns 2% there
- Need travel medical or trip cancellation insurance
- Want to avoid annual fees
- Don't meet the income requirement
Bottom Line
The RBC Cash Back Preferred World Elite Mastercard bridges the gap between cash back simplicity and premium card perks. The 1.5% unlimited flat rate means you never have to think about which card to use — just tap and earn. Add in 1,300+ airport lounges, rental car insurance, and a $120 DoorDash DashPass, and the $99 fee pays for itself quickly for anyone who spends $1,650+/month. It's the best option for Canadians who want premium benefits without dealing with points programs.
