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RBC Visa Classic Low Rate Option

RBC Visa Classic Low Rate Option

Reviewed by Jen, founder of MoneyMint · Updated September 25, 2026

RBC Visa Classic Low Rate Option Credit Card
RBCLow Interest

RBC Visa Classic Low Rate Option

Our take: a $20-a-year card built around a 12.99% purchase rate rather than rewards — worth a look if you sometimes carry a balance.

#6 Balance transfer

Welcome offer0.99% intro rate for 10 months on balance transfers
Apply on RBC’s site →

  • Goes straight to RBC
  • Our review

The RBC Visa Classic Low Rate Option is a low-interest credit card built for balance-carrying and debt-reduction rather than rewards-chasing, offering a fixed 12.99% purchase APR, well below typical Canadian card rates; balance transfers are charged the 14.99% cash advance rate once the 0.99% introductory period ends. It carries a modest $20 annual fee (waived the first year) and a handful of partner perks with Petro-Canada, Rexall, and DoorDash, but no points or cash-back program.

4.4out of 5

MoneyMint rating

#2 of 7 low-interest and no-rewards cards · How we rate

Rewards value
0/10
Insurance
4/10
Flexibility
4/10
Welcome bonus
0/10
Fee value
9/10
Perks
0/10

Rate-first card

Not built for rewards, so the score leans on interest rate, fees and insurance. Find the right fit for you →

At a Glance

Annual Fee

$20/yrwaived for the first year

Rewards Rate

Nonepartner perks only (Petro-Canada, Rexall, DashPass)

Welcome Bonus

0.99% intro rate for 10 months on balance transfersplus annual fee waived year one

Foreign Transaction Fee

~2.5% (est.)standard RBC FX markup; not explicitly restated on this card’s current page

Credit Score Needed

Fair

Purchase APR 12.99%

Pros & Cons

Pros

  • Fixed low 12.99% purchase APR, useful for carrying a balance affordably
  • Accessible to applicants with fair/good credit
  • Practical everyday perks: fuel savings at Petro-Canada, pharmacy points at Rexall, and a DashPass trial

Cons

  • Cash advances and balance transfers are charged 14.99% (up from 12.99% as of September 10, 2026), so transferred balances cost more than purchases once the promo ends
  • $20 annual fee after year one, versus $0-fee competitors offering comparable purchase rates
  • No rewards earning on regular spending

Rewards & Earn Rates

Petro-Canada fuel purchases3¢/L discount + 20% bonus Petro-Pointsrequires linking card at Petro-Canada
Rexall pharmacy purchases50 Be Well points/$1requires a linked RBC card and Be Well account
DoorDash6 months complimentary DashPass
All other purchasesNo rewards earned
RBC has scheduled a cash advance APR increase on this card from 12.99% to 14.99%, effective the first statement period on or after September 10, 2026. The purchase APR itself (12.99%) is unaffected by this change.

Who It’s For

Best for

  • Consumers who sometimes carry a balance and want a low, predictable fixed interest rate rather than a rewards structure
  • People consolidating higher-interest debt via balance transfer who can use the 0.99% introductory 10-month offer

Not ideal for

  • Anyone who pays their balance in full monthly and wants rewards or cash back on spending, a no-fee rewards card would deliver more value
  • Frequent cash-advance users, given the scheduled increase to 14.99% cash advance APR and the lack of an interest-free grace period on advances
IssuerRBC
Annual fee$20/yr (waived year one)
Welcome bonus0.99% intro rate, 10 months (balance transfers)
Foreign transaction fee~2.5% (est.)
MoneyMint rating4.4 / 5

Apply on RBC’s site →

This link goes directly to RBC’s official page. MoneyMint doesn’t currently have a paid partnership for this card, so this isn’t a monetized recommendation.

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Further Reading

4.4MoneyMint rating

RBC Visa Classic Low Rate Option

Low-rate card · $20/year

Apply on RBC’s site →Find a better fit

J

Jen, founder of MoneyMint

Reviewed by Jen. Every figure on this page was checked against RBC’s official card page on September 25, 2026. How we rate cards →

This is general information, not personalized financial advice — consider your own spending habits and consult a professional for decisions specific to your situation. Rates, fees, and offers are set by RBC and can change without notice; always confirm current terms on the issuer’s official page before applying.

Frequently Asked Questions

What is the annual fee for the RBC Visa Classic Low Rate Option?

The RBC Visa Classic Low Rate Option has an annual fee of $20/yr (waived for the first year); $0 for additional/supplementary cards.

What is the rewards rate on the RBC Visa Classic Low Rate Option?

The RBC Visa Classic Low Rate Option offers: No points/cash-back rewards program; partner perks only (Petro-Canada, Rexall Be Well, DoorDash DashPass)

Does the RBC Visa Classic Low Rate Option have a welcome bonus?

0.99% introductory interest rate for the first 10 months on balance transfers, plus no annual fee for the first year Offer applies to new applicants who apply online by November 4, 2026, per RBC’s offer terms (checked October 1, 2026); Double-check the current terms before you apply.

What credit score do I need to qualify for the RBC Visa Classic Low Rate Option?

Generally, you’ll want a fair credit score to be considered for the RBC Visa Classic Low Rate Option. Approval also depends on income and overall credit history, not credit score alone.

Does the RBC Visa Classic Low Rate Option charge foreign transaction fees?

~2.5% (standard RBC FX markup; not explicitly restated on this card’s current official page)