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Credit cards afford you a number of important benefits that you don't get when paying with either cash or personal cheques.

A convenient financial management tool

A credit card provides a convenient and secure way to shop, budget and manage your financial resources. You can use your card to make purchases, manage your day-to-day cash flow through cash advances, and to access a variety of personal accounts through online banking and Automatic Teller Machines (ATM).

When you use a credit card for everyday purchases, you don't need to carry a large amount of cash or provide the additional methods of identification necessary to pay with a cheque. In addition, a credit card is virtually the only way to make online purchases.

Credit rating

Developing a positive credit rating through the responsible use of a credit card is an asset, not only when you apply for a credit card, but also when you apply for a job, insurance coverage, or car or home financing. Remember that a bad credit rating can follow you for seven years. The best way to ensure a positive credit rating is to pay your bills on time and, whenever possible, pay more than the minimum balance due on your card. This will assure future lenders that you are a good credit risk.

Insurance coverages

Most credit cards come with at least basic coverage while some fee-based cards come with an extensive list of valuable insurance coverages. All RBC Royal Bank credit card cardholders enjoy Purchase Security and Extended Warranty Insurance, while, depending upon the card you choose, you can also access the security of additional insurance protection like Out-of-Province/Out-of-Country Emergency Medical Insurance coverage and more.

Earn points and redeem for rewards

Depending on the credit card you choose, you can also earn points toward travel or merchandise with every dollar you spend. For instance, certain RBC Royal Bank credit cards offer the discerning traveller a range of rewarding choices, from unrestricted travel dates to selecting from a variety of airlines, including Air Canada. In addition, many cards provide money-saving partner discounts and special savings at a host of the country's best retailers. See the range of rewarding options available from Avion Rewards.

Worldwide acceptance

Your credit card can make travelling hassle-free. RBC credit card is accepted across Canada and worldwide which means that you'll never have to worry about having a ready supply of foreign currency on hand.

BalanceProtector® Max Insurance

Helps pay your RBC credit card balance in case of job loss, total disability or loss of life.