Royal Caribbean Visa Signature Review

The Royal Caribbean Visa Signature Credit Card is not one of the top rated reward credit cards to review our list of the best rewards credit cards for what we think are better options.


Full Royal Caribbean Visa Signing Review


Advantages
  • Easy to earn bonus worth up to $ 200

  • $ 50 off airline tickets on Royal Caribbean’s Air2Sea program with qualifying purchases

  • Higher points earning rate available for three cruise lines

  • No annual fee

The inconvenients
  • MyCruise points are only valid for cruise exchange options

  • Points earning rates are not exceptional

  • Points expire after five years

  • Limit of 540,000 MyCruise points per year


Benefits explained

  • Easy to earn bonus worth up to $ 200: You can earn the 10,000 MyCruise point bonus, worth $ 100, simply by completing a single transaction within the first 90 days of opening the account. This transaction can be a purchase, balance transfer, or cash advance. Many other cards require you to spend between $ 500 and $ 5,000 or more to earn their bonuses. Additionally, this card offers a $ 100 statement credit after making purchases of $ 1,000 or more within 90 days, a more standard bonus in addition to the easy-to-earn bonus.
  • $ 50 off airline tickets on Royal Caribbean’s Air2Sea program with qualifying purchases: As a new Visa cardholder, you can receive a $ 50 reduction on an airline ticket purchased through Royal Caribbean’s Air2 Sea program if you make at least $ 3,500 in purchases with your card during the first 90 days after opening the account. This discount, which expires 18 months after issuance, will be credited to your reservation after final payment of your cruise reservation. You must also book your plane ticket as part of a Royal Caribbean cruise reservation. In addition, there is a non-refundable reservation fee of $ 15 for North American destinations and $ 25 for international destinations.

All in all, this perk could come in handy if you still got the $ 50 rebate from spending that you already intended to put on this card, and were planning to use the Air2Sea program as well. Otherwise, you are spending thousands of dollars on a credit card for a relatively small advantage over bonuses offered by other cards with similar spending requirements.

  • Higher point earning rate available for three cruise lines: You are not limited to earning 2 MyCruise points per dollar only on Royal Caribbean purchases. This higher earning rate also extends to Celebrity Cruises and Azamara.
  • No annual fee: This card does not charge an annual fee. This means you can keep your card without having to assess whether the rewards and other perks potentially justify the cost of the annual fee.


Disadvantages Explained

  • MyCruise Points only valid for cruise exchange options: You can redeem your MyCruise points for a variety of rewards, but they all involve cruises, cruise-related merchandise, or charitable donations. For people who don’t always want to redeem their rewards for cruises, this can be a significant downside compared to cash back cards that allow you to use your rewards for just about anything.
  • Points earning rates are not exceptional: You earn 2 MyCruise points per dollar spent only on qualifying Royal Caribbean, Celebrity Cruises and Azamara purchases. Many other reward credit cards offer a wider variety of payout categories and some have higher reward rates. The 1 MyCruise point per dollar spent anywhere else is lacking compared to simple credit cards with 1.5% or 2% cash back.
  • Points expire after five years: MyCruise points expire five years after the month they were earned. If you save to redeem your points for a free cruise, that may not be enough to earn enough. Some other credit card rewards programs have points that never expire.
  • Limit of 540,000 MyCruise points per year: The rewards program limits the number of MyCruise points you can earn each calendar year to 540,000. Although this limit is high, many other rewards programs do not put a cap on the number of points you can earn.


The Royal Caribbean Visa Signature card may be of interest to frequent cruise passengers from Royal Caribbean, Celebrity Cruises or Azamara, if they spend enough money with these cruise lines and carefully redeem their points for maximum value. However, the low point rate on all other purchases and less than optimal rewards redemption options mean another credit card would likely offer more value.


Royal Caribbean Visa Signature Bonus

You can earn 10,000 MyCruise points by making a single transaction on your card within the first 90 days of opening the account. For the purposes of this bonus, a transaction is considered a purchase, balance transfer or cash advance. When redeemed for their maximum value, those 10,000 MyCruise points could be worth up to $ 200 for some premium cruise options, although their average value of $ 0.01 per point (according to Investopedia assessment) would only return the bonus for $ 100. The bonus is only for new accounts and will not apply to account conversion requests. Bonus points take approximately six to eight weeks to be credited to your account once you have qualified.

In addition to the points bonus, this card offers a $ 100 statement credit for new cardholders. Once you make purchases of $ 1,000 or more within 90 days of opening your account, you will see the statement credit applied within eight to twelve weeks.


Reward Details

The Royal Caribbean Visa Signature card allows you to earn 2 MyCruise points per dollar on qualifying purchases made through Royal Caribbean, Celebrity Cruises or Azamara. You will also earn 1 MyCruise point per dollar on all other purchases. These reward rates are low when you consider that other credit cards offer up to 2% cash back on all purchases and sometimes higher reward rates in specific spending categories.

The points you earn expire five years after the month they were earned. Additionally, you are limited to earning 540,000 MyCruise Points in any given calendar year. If your account is closed for any reason, any points that have not yet been redeemed will be forfeited.


Details on how to use rewards

You can redeem your MyCruise reward points for several options starting at 1000 points. Unfortunately, all redemption options are for cruises, cruise cargo, or charitable donations. The rewards options give point values ​​of around 1 to 2 cents.

You need to be careful when redeeming your rewards to make sure you get the maximum value. For example, you can redeem 50,000 MyCruise points for a three or four night Royal Caribbean cruise. The cruise can have a value of up to $ 1,000, but the reward is only valid for the minimum ocean view cabin available. If that cabin is worth less than $ 1,000 for the cruise you book, you will not receive the full value of 2 cents per MyCruise point.


How to Maximize Your Rewards

Maximizing your rewards with the Royal Caribbean Visa Signature card is a two-part process. First of all, you need to earn all MyCruise points and possible benefits. This includes completing a trade in the first 90 days to collect the 10,000 point bonus, as well as spending $ 1,000 in the first 90 days to get the $ 100 and 3,500 statement credit. $ during the first 90 days to get the $ 50 rebate on Royal Caribbean’s Air2Sea program.

You would also want to put all of your qualifying Royal Caribbean, Celebrity Cruises and Azamara purchases on the card to earn the 2 MyCruise points per dollar spent. Keep in mind that you can probably earn higher value on all other purchases by putting them on another credit card that earns more than 1% cash back.

Then, once you’ve accumulated enough MyCruise points, redeem them for an option that allows up to 2 cents of value per point and consider any cash back earned on another card as partial compensation for the additional costs associated with the cruise.


Standard benefits

  • $ 50 Air2Sea rebate with $ 3,500 spent in the first 90 days
  • No foreign transaction fees


Cardholder experience

In JD Power’s 2020 US Credit Card Satisfaction Study, Bank of America, which issues the Royal Caribbean Visa Signature card, received a score of 812 out of 1,000. The average score for domestic issuers was from 810.

This card gives you free access to your FICO score, updated monthly, through the mobile banking app or the bank’s website. If you have any questions and need to contact customer service, they are available 24/7 at 800-732-9194.


Security functions

The Royal Caribbean Visa Signature card is equipped with contactless chip technology. This allows you to make purchases on contactless terminals as well as those that only accept chip and PIN transactions. Otherwise, the security features of this card meet industry standards.


Fees to watch out for

The fees on this card are relatively standard for the industry. On the bright side, it has no annual fee and does not charge overseas transaction fees, which can be a money-saver when visiting overseas ports. However, if you make a late payment you will be subject to a variable APR penalty of up to 29.99%. And once you’ve triggered the APR penalty, it will apply to new purchases indefinitely.


Our verdict

The Royal Caribbean Visa Signature card can be useful for people who sail frequently with Royal Caribbean, Celebrity Cruises or Azamara. It doesn’t charge an annual fee or overseas transaction fees, and the 10,000 MyCruise point bonus for completing a transaction in the first 90 days could help pay for part of your cruise. But for non-qualifying and non-cruise purchases, you’ll likely get more value using a separate card, like the Citi Double Cash, which offers 1% cash back on purchases and an additional $ 1 cash back. % when you pay for these purchases.

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