One of the exciting features that RBC offers is the ability to pay for purchases using RBC Rewards accumulated points.
Royal Bank of Canada (RBC) is renowned for its innovative online banking services, making it easier than ever for customers to manage their finances efficiently.
In this comprehensive guide, we will walk you through the step by step process for pay back purchases with points in RBC Online Banking.
RBC Reward points are a type of loyalty points that can be earned and redeemed through the RBC Rewards. The program is open to all Canadian residents who are 18 years of age or older.
There are two ways to earn RBC Reward points
RBC Rewards Credit Card
- When you use an RBC Rewards credit card to make purchases, you will earn Avion points on every dollar you spend.
- The number of points you earn per dollar will vary depending on the type of credit card you have and the category of purchase.
- For example, you may earn 3x points on groceries and gas, and 1x point on all other purchases.
RBC Value Program
- If you have an eligible RBC bank account, you can enroll in the RBC Value Program to earn RBC Reward points on your everyday purchases.
- You will earn 1 point for every $100 you spend on eligible purchases, such as debit card purchases, bill payments, and recurring payments.
- Once you have earned RBC Reward points, you can redeem them for a variety of rewards, including:
- RBC Rewards Travel
- Statement credits
- Financial rewards
How to Pay Back Purchases with RBC Rewards Points in Online Banking
To pay back purchases with points in RBC Online Banking, follow these steps
- Log in to RBC Online Banking and Go to My Accounts Section
- Navigate to Account Summary from My Accounts
- Click on Credit card option where you will see your credit card.
- Click on the transaction you need to pay with Reward points.
- You will see the Pay with Points option.
- Click on OK and then enter the Amount you want to pay with Reward points.
- Click on Continue and then on Confirm
- Click on Finish to complete the transaction
How to Check RBC Rewards Point Balance
There are 2 ways to check your RBC Rewards points balance online
Through RBC Online Banking
- Sign in to your RBC Online Banking account.
- Click on the Account Summary tab.
- Under the Rewards section, click on Go to Avion Rewards.
- Your Avion points balance will be displayed on the next page.
Through RBC Rewards App
- Download the RBC Rewards app from the App Store or Google Play.
- Open the app and sign in with your RBC credentials.
- Your Avion points balance will be displayed on the home screen of the app.
Note: You can also check your RBC Rewards points balance by calling RBC customer service at 18007692511.
Also Read: RBC Near Me
Difference between RBC Rewards and Avion Rewards
Here is a table of the key differences between RBC Rewards and Avion Rewards
|Feature||RBC Rewards||Avion Rewards|
|Earning points||Earn points on eligible purchases with your RBC credit card.||Avion cardholders earn a higher rate of points than non-Avion cardholders.|
|Redemption options||Redeem points for travel, gift cards, merchandise, and more.||Avion cardholders have access to a wider range of travel redemption options, including the ability to transfer points to airline partners.|
|Transfer partners||None||Air Canada Aeroplan, British Airways Avios, Cathay Pacific Asia Miles, United MileagePlus, Alaska Airlines Mileage Plan, and WestJet Rewards|
|Point value||1 cent per point||Varies depending on the redemption option. The best value is typically for travel redemptions.|
Benefits of RBC Reward Points for Payments
There are several benefits to using RBC Rewards points for payments.
- You can save money on your bills.
- You can use your points to book flights, hotels, and other travel-related expenses. This is a great way to save money on your next vacation.
- You can also use your points to redeem for merchandise and gift cards from a variety of retailers.
- This is a great way to get something you’ve been wanting without having to spend any cash.
- You can boost your credit score.
- When you use your points to pay for your bills, it can help to improve your credit score. This is because it shows that you are a responsible borrower who can manage your finances.
The specific benefits of using RBC Rewards points for payments will depend on the type of points you have and the redemption options available to you. However, in general, using your points for payments can be a great way to save money and improve your financial situation.
Are there any fees associated with using points to pay for purchases?
Generally, there are no fees for using your points to pay for eligible purchases. However, it’s essential to review the terms and conditions of your specific RBC credit card.
Can I partially pay for a purchase with RBC points and the rest with my credit card?
Yes, you can partially pay for a purchase with RBC points and the rest with your credit card. This is called a points-plus-cash payment. To do this, you would need to have enough RBC points to cover at least part of the purchase amount. You can then use your credit card to cover the remaining balance.
Do RBC Rewards points expire?
No, RBC Rewards points do not expire as long as your Avion Rewards eligible account remains open and in good standing. However, your points will be forfeited twelve (12) months after
- you voluntarily close your account
- RBC closes your account for any reason other than for cause.
What are the drawbacks of using RBC Rewards points to pay back purchases?
There are a few drawbacks to using RBC Rewards points to pay back purchases:
- You may not get the full value of your points.
- You may not be able to use your points for all of your purchases.
- You may not be able to use your points for travel or other rewards that you want.