Reviewed by Jen, founder of MoneyMint · Updated October 1, 2026

RBCPremium Cash Back

RBC Cash Back Preferred World Elite Mastercard

Our take: one of the stronger cash back cards for everyday spending — 3% back on groceries, dining, gas, transit and streaming for $120 a year, plus up to $300 in welcome cash back. It requires $80K personal or $150K household income.

#6 Cash back

Welcome bonus15% extra cash back for 3 months (on up to $2,000, max $300)

Apply on RBC’s site →

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Our review

The RBC Cash Back Preferred World Elite Mastercard is RBC’s paid-tier cash back card, sitting above the no-fee RBC Cash Back Mastercard. RBC relaunched it on October 1, 2026: it now earns 3% cash back on groceries, dining and food delivery, gas and EV charging, transit and rideshare, and streaming and digital gaming, and 1% on everything else, with no annual earning caps. The annual fee rose from $99 to $120, and the card now includes emergency medical, flight delay, delayed baggage and mobile device insurance. It still requires $80,000 in personal or $150,000 in household income.

4.1out of 5

MoneyMint rating

#6 of 8 cash-back cards · How we rate

Rewards value

5/10

Insurance

10/10

Flexibility

10/10

Welcome bonus

4/10

Fee value

10/10

Perks

4/10

≈ $642

estimated first-year value after the annual fee, on a typical $2,050/month budget. See it for your spending →

At a Glance

Annual Fee

$120/yr$50 per additional card

Rewards Rate

3% in six categories1% on everything else, no caps

Welcome Bonus

15% cash back for 3 monthson up to $2,000 spend (max $300)

Rewards

~2%on a typical everyday budget (est.)

Foreign Transaction Fee

2.5%

Credit Score Needed

Goodincome requirement: $80K personal / $150K household

Purchase APR 21.99%

Pros & Cons

Pros

3% cash back on groceries, dining and food delivery, gas and EV charging, transit and rideshare, and streaming and digital gaming, with no annual cap
Emergency medical (first 10 days of a trip), flight delay, delayed baggage and mobile device insurance included
Welcome offer of 15% extra cash back on your first $2,000 in 3 months, worth up to $300

Cons

$80,000 personal / $150,000 household income requirement screens out many applicants
$120 annual fee (up from $99) and $50 for each additional card
No trip cancellation or interruption insurance, and emergency medical covers only the first 10 days of a trip (3 days at 65+)
2.5% foreign transaction fee

Rewards & Earn Rates

Groceries, dining and food delivery3%Unlimited

Gas, EV charging, rideshare and transit3%Unlimited

Streaming and digital gaming3%Unlimited

Everything else1%No cap on total cash back

RBC relaunched this card on October 1, 2026. It used to earn a flat 1.5% on the first $25,000 a year, cost $99 and had no travel medical insurance. The 3% rate depends on how the merchant is coded: for groceries, only stores coded as grocery stores and supermarkets qualify, so groceries bought at a big-box or warehouse store may earn 1%.

Who It’s For

Best for

Households that meet the $80K personal / $150K household income bar and spend a lot on groceries, dining, gas and transit
People who want straightforward cash back plus basic coverage for short trips

Not ideal for

Anyone who doesn’t meet the income minimum
Long or frequent trips abroad: there’s a 2.5% foreign transaction fee, no trip cancellation cover, and emergency medical only for the first 10 days
Light spenders, who may come out ahead with the no-fee RBC Cash Back Mastercard

Not Sure? Three Cards People Compare It With

All everyday spending cards →

MBNA Rewards World Elite Mastercard

Pick this instead if most of your spending is groceries (~5% est.).

Fee $120Rating 3.4 ★Bonus $300

Read review

BMO Ascend World Elite Mastercard

Pick this instead if you want a bigger welcome bonus (~$670 est.).

Fee $150Rating 3.2 ★Bonus $670

Read review

Rogers Red World Elite Mastercard

Pick this instead if you want no annual fee at all.

Fee $0Rating 4.8 ★

Read review

Frequently Asked Questions

What is the annual fee for the RBC Cash Back Preferred World Elite Mastercard?

The RBC Cash Back Preferred World Elite Mastercard has an annual fee of $120, plus $50 for each additional card.

What is the rewards rate on the RBC Cash Back Preferred World Elite Mastercard?

It earns 3% cash back on groceries, dining and food delivery, gas and EV charging, transit and rideshare, and streaming and digital gaming, and 1% on all other purchases, with no annual earning cap.

Does the RBC Cash Back Preferred World Elite Mastercard have a welcome bonus?

Yes. New applicants approved between October 1, 2026 and February 2, 2027 earn an extra 15% cash back on up to $2,000 in purchases in the first 3 months, worth up to $300, on top of the regular earn rates. Additional cardholders and existing RBC cardholders switching to this card aren’t eligible. Double-check the current terms on RBC’s site before you apply.

What credit score do I need to qualify for the RBC Cash Back Preferred World Elite Mastercard?

Generally, you’ll want a good credit score to be considered for the RBC Cash Back Preferred World Elite Mastercard. Approval also depends on income and overall credit history, not credit score alone.

Does the RBC Cash Back Preferred World Elite Mastercard charge foreign transaction fees?

Yes. It charges 2.5% on purchases in a foreign currency.