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Business Platinum Credit Card FAQs

 

I have a group of sales people who travel extensively and need a way to ensure they only use their credit card for travel related expenses. How can I ensure they don't misuse their business card while traveling?

With our Visa* Corporate card, you can designate specific types of merchants where your employees can use their card, i.e. airlines, hotels, restaurants, etc. If your employees spend $250,000 or more per year on their credit cards, this would probably be the best solution for your company. Please contact your account manager for more information on this business card.

I would like to find a solution for the high cost of paying invoices for supplies and equipment.

With the Visa Purchasing card, you can reduce the transaction costs of paying by check and eliminate re-keying information into the general ledger. You can place your employees into various hierarchical structures for the approval process which will give you control of their spending. You have the ability to set single spending limits, periodic spending limits and you can restrict spending to specific merchants. Comprehensive reporting, flexible billing and payment options, and a highly flexible web based software that interfaces with your accounting system make this card a must for any company looking for cost reduction in maintenance, repair and operating costs. Please contact your account manager for more information on this business card.

Are there any annual fees associated with having an RBC Bank Visa Business Platinum card?

All RBC Bank Visa Business Platinum cards offer superior benefits, including no annual charge for ownership. The RBC Rewards program is FREE but if you want to earn rewards even faster, apply for RBC Rewards Plus for a low annual program fee of $55 to earn 50% more points with every purchase.

I have employees who use their business credit card extensively but do not have any type reward or rebate program with their card.

Both our Visa Business Platinum Rewards and Visa Business Platinum Rewards Plus card are automatically enrolled in our Business Rewards program. This gives you two options for your employees to earn points for business related purchases and expenses to redeem for free air travel, cruises, hotel stays, car rental certificates, or gift cards issued by national retailers. Every net purchase dollar charged (purchases less credits and returns and does not include convenience checks, cash advances, balance transfers or any finance charges or fees) to the account is awarded points toward redemption. A great reward for your employees would be paying the nominal program fee of $55 each year for the Business Rewards Plus program and you and your employees earn 1.5 points for net purchases. Business Rewards Plus accounts receive 1,000 bonus points after your first purchase. Or, if you are not interested in paying a program fee, you will automatically be enrolled in the RBC Rewards program and earn one point for every net purchase dollar charged (purchases less credits and returns and does not include convenience checks, cash advances, balance transfers or any finance charges or fees). And you will receive 500 bonus points after your first purchase.

When is my payment due?

Payment due dates vary for each RBC Bank Visa Business card. Your due date will appear on your Visa Business statement. To verify your due date, call 1-888-257-6837.

What is the minimum payment?

This amount will appear on your monthly Visa Business Platinum statement in the box marked "Minimum Payment". It will be the greater of $10 or 3% of the total new balance owing. If your total new balance is less than $10, you need pay only that balance owing. This Minimum Payment may also include any past due amounts and any portion of the total new balance owing that is more than your credit limit. The minimum payments required vary for each RBC Bank Visa Business Platinum card and depend on other factors such as your personal credit limit. If you choose not to pay the full balance owing on your RBC Bank Visa Business Platinum card, you must pay at least the Minimum Payment due each month to maintain a good credit rating.

How do I dispute a charge on my statement?

If you suspect that your RBC Bank Visa Business Platinum card is being used without your knowledge or consent, please call Client Call Center immediately at 1-888-257-6837 and a representative will help you.

Is there a number I can call if I have questions about my account?

Yes, you can call the Client Call Center at 1-888-257-6837 and a representative will help you.

What is the credit limit?

This is the maximum amount of credit you have on your RBC Bank Visa Business Platinum card. It will appear on your monthly RBC Bank Visa Business Platinum statement.

How do I redeem points on my account?

Choosing from a wide selection of exciting gift card/certificate offers and travel rewards is just one of the benefits of carrying an RBC Bank Visa Business Platinum card. Ensuring that your rewards are as easy to redeem as they are to earn is just one of the ways that we thank you for your business. You can view redemption options, view your reward point balances/history and redeem on-line at www.rbccenturaredemption.com. You may also call the Redemption Center at 1-877-521-2035 and a representative will help you redeem your points.

What should I do if my RBC Bank Visa card is lost or stolen?

Call our 24-hour toll-free number 1-888-257-6837, Option 2, immediately if your RBC Bank Visa Business Platinum card is lost or stolen. Once you have informed us of the loss, we will be able to block the card from future use and issue a new card to you. Outside of the United States or Canada, please call collect at 1-416-974-5449.

Why is my interest rate now risk based?

  • We must adjust to higher risks and costs in the market. Most banks have already done so by increasing their rates and fees significantly over the past several months. But please know that our pricing is very competitive.
  • Overall, our new purchase rates are very competitive. You may find limited-time offers at lower rates, but these are teasers that will increase after a set time. Your rate with us is likely hard to beat on a comparable basis.
  • The rate increase will have little effect if you pay your balance in full each month.
  • If you carry a sizeable balance, please note that limited-time offers can be costly when factoring in balance transfer fees.

*RBC Bank is licensee of the trademark.