Defer a Credit Card Payment

For immediate financial relief: Our call centres are experiencing extremely high call volumes. For clients enrolled in RBC Royal Bank Online Banking immediate access to request financial relief is available, please use our self-serve options found in RBC Royal Bank Online Banking.

To Defer a Credit Card Payment in Online Banking:

• Log into Online Banking.
• From the Account Summary page, select your credit card account.
• Select the “Need to defer a minimum payment due to COVID-19?” link just below the name of your credit card, and follow the instructions.

You can use this form to request us to temporarily waive the requirement for you to make the minimum payment on your credit cards for one month (deferring your payment), referred to as the relief period. This will provide some short-term financial relief to you during the COVID-19 situation.

It is important to understand the impact of deferring your minimum payment.

If no payments are made during the relief period, your minimum payment may be higher at the end of the relief period.

As well, interest will continue to accrue at your annual interest rates during the relief period. We will add your interest charges to your outstanding balance, along with any transactions, which may cause your outstanding balance to increase during the relief period. Rest assured that we do not charge interest on accrued interest.

To further help you during this difficult time, you will be provided with a credit to your account to reimburse you for 50% of the interest charged to your account during the relief period. This credit will be displayed on your upcoming statement. During the relief period you always have the option to make one or more payments toward your outstanding balance.

At the end of the relief period, your minimum payment will again become due and you will no longer receive credits to your account for your interest charges.

If you have BalanceProtector on your credit card, you may be covered due to loss of income. Please contact the insurer, Assurant Solutions directly at 1-888-896-2766, or visit www.BenefitActivations.ca to submit a claim. Please note that BalanceProtector premiums will continue to be charged to your account and increase your outstanding balance. Interest will not be charged on BalanceProtector premiums.

For longer term relief (Up to 6 months): Should you require additional financial relief beyond one month, please use our online booking tool to schedule a time to speak with one of our advisors by phone.

Not enrolled in RBC online banking? Click here for instant enrolment.