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Adding the Family Card Option to any RBC Royal Bank credit card (excluding Business, U.S. Dollar and Student cards) allows the primary or co-applicant cardholder to provide funds to authorized users (up to nine) while setting limits and monitoring spending activity.
It's the ideal solution for parents who want to ensure that their maturing child has the funds to meet his or her needs — especially in an emergency — while they teach the benefits and responsibilities associated with credit. The Family Card Option is not limited to family members; you could make your life a little easier by providing cards to caregivers or nannies.
With the Family Card Option, people added as authorized users are able to make purchases and cash advances, up to the limits assigned to them, and their spending can earn RBC Rewards points or Partner Points, Miles or Dollars which the primary cardholder can redeem. Because they are not considered "borrowers" authorized users are not responsible to RBC for any amounts owing for purchases, cash advances, fees or interest on the account, and card activity has no impact on their credit bureau report.
The account credit limit is the maximum amount which the primary cardholder, co-applicant and authorized user(s) are allowed, taken together, to charge to the credit card account to cover purchases, cash advances, interest and fees. It is a shared credit limit.
The total available credit to the primary cardholder, co-applicant and any authorized user(s) is the account credit limit minus any unpaid balances. This is a shared available credit. If the sum of all unpaid balances reaches the account credit limit, no further credit may be accessed by any cardholder until a payment is made.
An authorized user's monthly card limit may be set to any limit up to the full account credit limit. Each authorized user's monthly card limit is a subset of the account credit limit, and does not increase the overall account credit limit.
The authorized user's monthly card limit applies to both purchases and cash advances.
Each authorized user's monthly card limit is reset to the full amount at the start of each statement billing month. Any unpaid balance will remain on the account. If an authorized user reaches the monthly card limit before the end of the billing month, a payment must be made on that authorized user's unique card number before any further funds may be accessed in that same month.
Primary and co-applicant cardholders can change authorized users' monthly card and cash advance limits two ways:
Send the form to us by mail for processing.
| RBC Royal Bank
c/o Administration Department
P.O. Box 18293, Stn. Brm. B
Toronto, ON M7Y 3J1
You may also apply by calling 1-800-769-2512 or by visiting your nearest RBC Royal Bank branch.
^ The Co-Applicant, if any, will also receive a separate monthly statement and disclosure, unless the co-applicant requests otherwise.
‡ All insurance is subject to limitations and exclusions. Please refer to the insurance certificates for complete details at http://www.rbcroyalbank.com/credit-cards/documentation/index.html