Benefits of Royal Bank Gold Visa
The Royal Bank Visa Gold Preferred is a credit card offered to Canadian residents from the Royal Bank of Canada. The card, which carries an annual fee of $110 (Canadian) and an interest rate of 19.99 percent, enables cardholders to earn reward points that may be redeemed for travel, merchandise, gift certificates and other rewards.
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RBC Reward Points
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As a bonus for signing up for the Royal Bank Visa Gold Preferred card, cardholders are awarded 2,500 RBC Rewards points. Thereafter, cardholders can earn one point for every dollar spent on the card.
Travel
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RBC Rewards points may be redeemed for travel such as airfare, train tickets, cruises, hotel stays and car rentals. Calculating the points required to redeem travel is simple: 100 points = $1 Canadian dollar towards travel. Thus, for example, if a cardholder wants to purchase airfare worth $350 then he must redeem 35,000 RBC Rewards points. If the cardholder has fewer than 35,000 points he can apply his existing point balance as credit towards the airfare.
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Merchandise
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Alternatively, RBC Rewards points may be applied towards merchandise. Specifically, the points may be used to purchase more than 200 items listed in a catalog such as electronics, jewelry, and kitchen and bedroom items. RBC Rewards points may also be redeemed for gift certificates that may be redeemed at popular Canadian merchants such as electronics stores, gas stations and book stores.
No Airline Mileage Accumulation
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According to a study published in the "Globe and Mail," credit cards that offered Air Canada Aeroplan points were considered the best travel reward cards in Canada. Credit cards such as the CIBC Aerogold Visa Infinite provide cardholders with one Aeroplan mile for every dollar spent and are the best value for travel rewards, the study found.
Although the study noted that it was difficult to rate the top travel card, individuals considering obtaining the RBC Royal Bank Visa Gold Preferred because of it travel benefits should be aware that the card does not offer coveted Air Canada Aeroplan miles.
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References
- Photo Credit credit card image by Christopher Hall from Fotolia.com
