VISA CreditLine for Small Business

Easy Access to Business Capital through the Convenience of a Credit Card

Get the functionality of a line of credit at competitive annual interest rates with the convenience of a credit card, all in the no annual fee RBC Royal Bank Visa CreditLine for Small Business card. Use the card for large capital purchases or simply make everyday business purchases - it's your business, you decide. Apply now for this total solution that provides easy access to the capital you need, on your terms.

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You are on: Features & Benefits

• Save with the automatic, no annual fee annual renewals⁽¹⁾
• Flexible and convenient repayment options — online, in-branch, telephone
• Receive Purchase Security and Extended Warranty Insurance⁽²⁾ for business purchases at no additional cost
• Tap into your line of credit through any of the Visa accepting merchants and financial institutions around the world
• Earn valuable RBC Rewards^® points⁽³⁾ — 1 RBC Rewards point earned for every $2 charged to the card⁽⁴⁾
• Exchange RBC Rewards points for Esso Extra^‡ points
• Earn RBC Rewards points faster with travel bookings through Carlson Wagonlit Travel
• Earn additional RBC Rewards points with the Rewards Network Restaurant Program
• Analyze your spending patterns with a descriptive RBC Royal Bank Visa monthly account statement
• You are not liable for fraudulent or unauthorized charges provided you have taken reasonable precautions to protect your PIN and your card as set out in your RBC Royal Bank Visa CreditLine for Small Business cardholder agreement
• Take advantage of the exceptional savings and special offers with the VISA Savings for Business program offered by Visa Canada, for the things you need to get ahead in business.
• Draw funds 24 hours a day, seven days a week through any Visa accepting automated teller machine (ATM) worldwide
• Get full ATM access, not just for withdrawals, but also for payments and account updates
• Use the no service fee RBC Royal Bank Visa cheques⁽⁵⁾ (call 1-800-769-2512 for more information)

You are on: Additional Services

Optional Features:

• Optional Life and Disability Insurance coverage⁽⁶⁾ At a cost of only $0.98 per $1,000 (plus provincial sales tax if applicable) of average outstanding debt balance for single coverage, the Life & Disability Insurance option offers protection in the event an insured cardholder dies or becomes disabled.

This valuable coverage can provide the following benefits⁽⁶⁾:

• payment of a monthly disability benefit based on 2% of your qualifying RBC Royal Bank Visa CreditLine for Small Business balance - up to 60 months or $60,000, if you are unable to work as a result of a total disability;
• payment of your qualifying RBC Royal Bank Visa CreditLine for Small Business statement balance - up to $50,000, in the event of your loss of life.

Please refer to the RBC Royal Bank Visa CreditLine for Small Business Life and Disability Insurance Certificate for more details.

You are on: FAQs

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Is it necessary to be an RBC Royal Bank^® client or have a business deposit account to apply for a RBC Royal Bank Visa^‡ CreditLine for Small Business^™ card?

No. The RBC Royal Bank Visa CreditLine for Small Business card is available to small business owners that qualify.

 

Can the RBC Royal Bank Visa CreditLine for Small Business card be used to purchase large items such as a car or truck?

Yes, if your available credit limit⁽⁸⁾ allows you to. You decide how and when to use your RBC Royal Bank Visa CreditLine for Small Business card.

 

What is the minimum monthly payment?

It will normally be $100 plus the interest and the fees. If the outstanding balance is less than $100 or less than the calculated Minimum Payment, the outstanding balance will be the Minimum Payment as indicated on your Visa monthly account statement.

 

What is the annual interest rate on the CreditLine for Small Business account?

A competitive rate of interest is charged on the amount of each purchase, cash advance including Visa cheque and balance transferts and fees from and including the transaction date recorded for them on the Visa monthly account statement, where they appeared for the first time, until the day full payment for the CreditLine for Small Business account is received. The annual interest rate is based on Prime Interest Rate⁽⁹⁾ plus an additional premium that will be ranging from 0.9% to 6.9% depending on your profile. Your premium will be calculated on an annual basis could only change once per year.

 

How do I apply for an RBC Royal Bank Visa CreditLine for Small Business card?

You have the option to apply online, phone, or in-branch. Call us at 1-800-769-2520 for fast, convenient service.

 

Who is responsible for the debt on the card, the owner or the company itself?

The RBC Royal Bank Visa CreditLine for Small Business cardholder agreement represents a "joint and several" (in Quebec, solidarily) liability agreement between the applicant (the business), the cardholder(s) (the business owner(s)) and Royal Bank of Canada. Consequently, both the applicant and the cardholder(s) are jointly and severally (in Quebec, solidarily) responsible for repaying the RBC Royal Bank CreditLine for Small Business account balance.

 

Does it matter how long I have been in business?

No. The RBC Royal Bank Visa CreditLine for Small Business card is available to anyone who qualifies. Call 1-800-769-2520 to speak to a Business Advisor about the RBC Royal Bank Visa CreditLine for Small Business card.

 

Are there any annual fees associated with the RBC Royal Bank Visa CreditLine for Small Business card?

No, although the optional Life and Diability insurance carries an additional fee.

 

When the RBC Royal Bank Visa CreditLine for Small Business card is granted with a certain credit limit, can I at some later date apply for a higher limit?

Yes, you can apply for a higher credit limit up to a maximum of $50,000. Simply call 1-800-769-2520 to speak with one of our Business Advisors.

 

If I apply for the maximum credit limit of $50,000 and am turned down for the maximum, will I be given a lower credit limit or rejected completely?

If you qualify for the RBC Royal Bank Visa CreditLine for Small Business card, your credit limit will be determined based on the information you provide on the application. Your approved credit limit will be equal to or less than the credit limit you applied for.

 

1) Provided your account is in good standing. If your account is not in good standing your account will likely not be renewed.
2) Coverage underwritten by RBC General Insurance Company in the Province of Quebec and by RBC Insurance Company of Canada in the rest of Canada.
3) For terms, conditions and restrictions that apply to the RBC Rewards program, visit www.rbcrewards.com or call 1-800-769-2512.
4) RBC Rewards points are earned on purchases only; they are not earned on cash advances (including Visa cheques and balance transfers), interest charges or fees, and credits for returns and adjustments will reduce or cancel the points earned by the amounts originally charged.
5) Up to your available credit limit. An overlimit fee or NSF/Dishonoured Visa Cheque Fee will be charged to the account when the debt exceeds the credit limit at the statement date. Please note that a competitive rate of interest is charged on the amount of each pruchase, cash advance (including Visa cheque and balance transfers) and fees from (and including) the transaction date recorded for them on the Visa monthly account statement, where they appeared for the first time, until the day full payment for your account is received. Please refer to the RBC Royal Bank Visa CreditLine for Small Business cardholder agreement for more details.
6) This creditor’s group insurance is provided by Assurant Solutions⁽⁷⁾ and is subject to provincial sales tax if applicable. It is available to cardholders at least 18 years of age and under 65 years of age who are Canadian residents. It is subject to limitations and exclusions. Please refer to the insurance certificate for complete details.
7) American Bankers Life Assurance Company of Florida herein referred to as Assurant Solutions
8) An overlimit fee or NSF/Dishonoured Visa Cheque Fee will be charged to the account when the debt exceeds the credit limit at the statement date. Please refer to the RBC Royal Bank Visa CreditLine for Small Business cardholder agreement for more details.
9) Prime Interest Rate means the annual rate of interest Royal Bank of Canada announces from time to time as a reference rate then in effect for determining interest rates on Canadian dollar commercial loans in Canada. The Prime Interest Rate may fluctuate from time to time. It can be found online at www.rbcroyalbank.com/rates or at any RBC Royal Bank branch.