The RBC Cash Back Preferred World Elite Mastercard Review
Customers who want the freedom to earn cash back on all their purchases without being burdened by accrual restrictions will appreciate RBC’s latest addition to the World Elite line of credit cards. The RBC Cash Back Preferred World Elite card encourages new members to take advantage of a solid 1.75% introductory cash back rate during the first six months of membership. This rate drops to 1.5% afterwards, and then 1% when the cardholder reaches $25,000 worth of annual expenses.
There is no ceiling on how much cash can be collected, making it an ideal tool for those cardholders who spend consistently with their credit cards.
At a Glance:
- Earn UNLIMITED cash back from purchases
- Complimentary Boingo Wi-Fi account
- Up to 1.75% cash back for the first 6 months
- 1.5% cash back after promotion period expires
- Premium rental car and purchase insurance
- Enjoy World Elite membership
On top of the ability to earn large cash rewards over time, the card also extends an array of above-average benefits to its members. These include the unusual, yet welcome perk of a free account with Boingo: the Wi-Fi terminal company with over a million hotspots around the world. Cardholders are eligible to access free internet in airports and public areas, whereas non-cardholders must pay for the privilege. Additionally, while many similar cards offer some level of purchase protection and extended warranty, the Cash Back Preferred World Elite boosts coverage for up to 120 days after purchase and will triple the original manufacturer warranty period. As an auxiliary bonus, cardholders will also get their rental car covered with collision and damage insurance.
For a reasonable $99 annual fee, qualified cardholders are welcomed into the World Elite club, granting a range of experiences and offers that go above and beyond other choices. To be eligible, prospective cardholders must be able to show an annual income of $70,000 individually or $120,000 for the entire household.
Why We Like It:
- Big Introductory Cash Back Bonus: The 1.75% cash back bonus is a great introduction to this credit card. New cardholders are given a comfortable span of time during which they can take advantage of the elevated cash back level, making it possible to plan large purchases (and therefore large cash back accruals) ahead of time.
- Unlimited Cash: One of the biggest complaints about cash back cards is usually that there is no incentive for cardholders to continue using them once the cap has been reached. With this card, years of consistent spending can generate thousands of dollars in savings.
- Tiered Cash Back: The earnings don’t stop once the bonus window ends. The 1.75% promo rate is reduced by a relatively minimal 0.25% after six months, and then again by 0.5% once the cardholder spends $25,000 during the year. It resets each year, but the relatively shallow decline keeps earnings positive irrespective of the amount spent.
- Boingo Account: In most airports across the globe, Boingo charges upwards of $5.00 for an hour of strong Wi-Fi service—a blessing when a frequent flyer has a long layover before their next flight. The Boingo membership that comes with the Cash Back Preferred World Elite card makes it easy for travelers to find great internet service for free, regardless of where the cardholder is located.
- Premium Insurance Benefits: Though it does not include any kind of medical insurance, the card significantly boosts the purchase protection and warranty extension features that most cards already offer. Most of its competitors offer 90 days of protection and doubled warranty terms, but the Preferred World Elite protects new purchases for 120 days and triples existing manufacturer warranties.
Is It Worth It?
Aptly named, this card will serve the world’s elite travelers better than the competition. The straightforward power of an unlimited cash back deal is an enticing offer to begin with, even without the inclusion of worldwide Wi-Fi access and insurance benefits. All told, this card is well worth its $99 annual fee, and will prove a handy companion for savvy cardholders that travel and spend consistently.