Overview
The RBC Visa Classic Low Rate is RBC's no-frills, low-interest credit card. With a fixed annual rate of 12.99% across purchases, cash advances, and balance transfers, it's designed for Canadians who carry a balance and want to pay as little interest as possible — without any surprises.
The card currently has a limited-time offer: a 0.99% introductory interest rate on balance transfers for the first 10 months, plus the $20 annual fee waived for the first year. If you're consolidating higher-interest debt, this is one of the best balance transfer deals in Canada.
Limited-Time Offer
RBC is running a compelling promotional offer (apply by March 25, 2026):
- 0.99% introductory interest rate on balance transfers for the first 10 months
- $20 annual fee waived for the first year
Balance Transfer Savings Example
On a $4,000 balance transfer:
| Scenario | Interest Over 10 Months |
|---|---|
| Standard card (20.99%) | ~$700 |
| RBC Low Rate (0.99% intro) | ~$33 |
| You save | ~$661 |
That's a massive saving just from moving an existing balance to this card.
Interest Rate Breakdown
| Type | Rate |
|---|---|
| Purchases | 12.99% |
| Cash Advances | 12.99% |
| Balance Transfers | 12.99% (0.99% for first 10 months) |
Like the TD Low Rate Visa, one of this card's standout features is that cash advances carry the same low rate as purchases. Most credit cards charge 22–23% on cash advances — this card charges just 12.99%.
Benefits & Features
While this is a low-rate card without a rewards program, RBC includes a few useful features:
Insurance
- Purchase Security — Protection against loss, theft, or damage on eligible purchases
- Extended Warranty — Extends the manufacturer's warranty on eligible purchases
These are meaningful inclusions that many low-rate cards don't offer.
Partner Offers
- Petro-Canada — Save 3¢/L on fuel and earn 20% more Petro-Points with your linked RBC card
- Rexall — Earn 50 Be Well™ points per $1 spent on eligible purchases at Rexall
- DoorDash — 6-month complimentary DashPass subscription (almost $60 value) with $0 delivery fees on qualifying orders of $15+
Digital Banking
- RBC Mobile App — Manage bills, set up mobile pay, view transactions
- NOMI — AI-powered financial insights, alerts, and reminders based on your banking habits
- Fraud Protection — Covered against unauthorized use of your card, in-store and online
RBC Low Rate vs. TD Low Rate Comparison
| Feature | RBC Visa Classic Low Rate ($20) | TD Low Rate Visa ($25) |
|---|---|---|
| Annual fee | $20 (1st yr free) | $25 |
| Purchase rate | 12.99% | 12.90% |
| Cash advance rate | 12.99% | 12.90% |
| Intro offer | 0.99% on BT for 10 months | 0% on purchases for 6 months |
| Purchase Security | ||
| Extended Warranty | ||
| Partner perks | Petro, Rexall, DoorDash | Starbucks, TD Offers |
| Income requirement | None | None |
Both cards are closely matched on rates. The RBC card edges ahead on balance transfers (0.99% for 10 months vs. no BT promo) and insurance (purchase security + extended warranty included). The TD card wins on purchase interest during the promo (0% for 6 months).
Drawbacks to Consider
No Rewards
This card earns zero points, zero cash back, and zero miles. If you pay your balance in full every month, you're leaving value on the table — a rewards card would be a better fit.
$20 Annual Fee (After Year One)
The fee is waived for the first year, but after that you'll pay $20/year. Still, if you carry any balance at all, the interest savings dwarf this fee.
2.5% Foreign Transaction Fee
Standard 2.5% FX fee on non-CAD transactions. Not ideal for international purchases.
No Travel Insurance
No emergency medical, trip cancellation, or flight delay coverage. You'll need a separate travel card or standalone insurance for trips.
Who Is This Card Best For?
This card is an excellent choice if you:
- Want to transfer a high-interest balance and save with the 0.99% intro rate
- Carry a balance and want a consistently low 12.99% rate
- Want purchase security and extended warranty included (unlike TD's low-rate card)
- Value partner perks like Petro-Canada savings and DoorDash DashPass
- Are looking for a first-year-free option to try a low-rate card risk-free
It's not the best choice if you:
- Pay your balance in full every month — get a rewards card instead
- Want to earn points, miles, or cash back
- Need travel insurance
- Travel internationally often (2.5% FX fee)
Bottom Line
The RBC Visa Classic Low Rate is a strong low-interest card with a compelling balance transfer promotion. The 0.99% rate for 10 months on balance transfers can save hundreds of dollars, and unlike many low-rate cards, this one includes purchase security and extended warranty insurance. At just $20/year (free for the first year), it's an affordable way to carry a balance without hemorrhaging money to interest — and the RBC partner perks with Petro-Canada, Rexall, and DoorDash add real everyday value.
