RBC announces massive cut in credit cards’ US spending limit

  • Nov, Fri, 2024

Just days after Scotiabank T&T Limited announced reductions in the US spending limit on credit cards, RBC announced a major 66 per cent cut in personal and business banking credit cards.
The cuts take effect on December 1.

Credit will have their monthly limits reduced from US$6,020 to US$2,058. That translates, in TT currency, from $41,000 to $14,000.

“RBC is committed to being the bank for all of you and to providing optimal choices for our clients. Given the ongoing foreign currency supply constraints, we need to regularly review FX limits on our clients’ credit cards, while striving to balance the needs of our clients with the availability of foreign exchange (FX) supplies,” it stated.

Scotiabank recently announced that the US dollar spending limit on the Aero Mastercard Black would be reduced to US$5,000 and on all other personal cards the limit would be reduced to US$2,000.

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