I recently talked to advisors from both RBC and Scotia.
In regards to the actual line of credit; interest rate, limits, grace period, etc. they are identical. With Scotia they use the LOC to automatically pay the interest every month while with RBC you are charged the interest but could just manually take it out of your LOC (maybe even set up automated payments?).
The only real differences between the banks are not directly related to the LOC. So types of credit cards, sign-up bonus points, etc.
One concern with RBC is the credit card fees are only waived for 4 years, while Scotia's credit card fees are waived until the end of the grace period. This is my understanding based on discussions with both advisors, can anyone confirm this?