RBC cash back cards shift to on-demand redemptions from Dec. 2

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RBC cash back card update

Highlights

RBC will allow on-demand cash back redemptions through Online Banking, Mobile app, or by phone starting Dec. 2, 2026, with the minimum redemption lowered to $1 from $25.
Automatic annual cash back redemptions will end on Dec. 2, after which cardholders must initiate redemptions themselves, with requests being final and not cancelable.
New earn rates, the removal of annual spending caps, and new fees for cash back cards took effect on Oct. 1, while Dec. 30 is the deadline for penalty-free account closure or switching.

Redemption changes and implementation timeline

As reported by MoneySense, RBC says cardholders will be able to redeem cash back through RBC Online Banking, the RBC Mobile app or by phone starting Dec. 2, 2026. The bank is also cutting the minimum redemption amount to $1 from $25 and allowing customers to redeem either part or all of their balance, as long as the request is at least $1.

Under the current system, redemptions are available only by phone and require a minimum balance of $25, according to RBC's cash back updates page. RBC also says cardholders will be able to check their reward balances through online banking or the mobile app, while accumulated rewards continue to carry forward indefinitely.

The bank is also ending automatic annual cash back redemptions on Dec. 2. After that date, cardholders will need to choose when to redeem, rather than receiving a payout automatically once a year.

What the changes mean for cardholders

RBC says only the primary cardholder or a co-applicant can request a redemption, while authorized users, including additional cardholders on the Preferred card, cannot redeem rewards independently. The bank also says redemption requests are final and cannot be cancelled, and redemption credits do not count toward the minimum payment due on the credit card account.

The changes complete a broader update to these card products. RBC says new earn rates, the removal of annual spending caps and new fees took effect on Oct. 1, while Dec. 30 is the deadline for customers to close their account or switch to another RBC credit card without cost or penalty if they do not accept the changes, provided they notify the bank before then and pay the full balance.

It remains unclear whether balances that otherwise would have been paid out automatically this year will still be redeemed before the new rules begin. MoneySense says it has asked RBC to clarify whether those balances will be paid automatically or remain in the account until the cardholder makes a redemption request.

Our earlier coverage of RBC’s broader updates to its cash back credit cards outlined the overhaul of card terms, including revised earn rates, the removal of annual spending caps, and the introduction of new fees effective Oct. 1. We also noted the window for existing customers to close or switch cards without cost by notifying RBC before the late-December deadline and paying off their balance in full.

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