Rogers Mastercards have been some of the top no fee cash back credit cards in Canada – especially the Rogers World Elite Mastercard.

With great earnings and no annual fees, it’s not hard to see the appeal of these cards.

Unfortunately, major changes are coming to all Rogers cards on June 2, 2020. And like last time, they aren’t for the best either.

A hat tip goes out to reddit users LondonPaddington and Mon30sous for discovering these upcoming changes.

Rogers World Elite Mastercard changes

Let’s start with our top rated no fee credit card – the .

Currently, this is what you earn on your purchases:

  • 4% cash back on purchases made in foreign currency,
  • 2% cash back on Rogers products, and
  • 1.75% cash back on all other purchases.

For no annual fee, those are some great rewards.

However, starting on June 2nd, here’s what you’ll earn for rewards:

  • 3% cash back on purchases made in U.S. Dollars, and
  • 1.5% cash back on all other purchases.

Not great. That’s a massive downgrade in rewards. You’ve gone from earning 4% cash back on purchases made in any currency, to 3% back on purchases made only in U.S. Dollars instead. If you’re someone who loves international travel, this could be a big loss in value for you.

And since the 2.5% foreign transaction fee isn’t waived, that means you’re only getting 0.5% net cash back on USD purchases, instead of the 1.5% on all foreign transactions that you got before.

And, you’re down to 1.5% cash back on all purchases, including any purchase made in a foreign currency that’s not U.S. Dollars. Again, considering the foreign transaction fee, you’re now paying a 1% fee on purchases made in currencies other than CAD and USD.

That’s a lot to digest, so here’s a quick summary:

Currency Net earning now Net earning after June 2nd
CAD (on Rogers purchases) 2% 1.5%
CAD 1.75% 1.5%
USD 1.5% 0.5%
Other currencies 1.5% -1%

Change in eligibility requirements

But the downgrades don’t end there. There’s another eligibility criteria to meet as well, which is now on top of the high income requirements of either $80K personal or $150K household.

Now, you also need to spend at least $15,000 per year on the card in order to keep it in your wallet.

How does this part work? Between August 1st to the following July 31st of every year, if you don’t make at least $15,000 in net purchases, Rogers reserves the right to switch your account to another Rogers Bank credit card on or after November 1st.

Any good news?

However, one perk is being added – free access to Boingo Global wi-fi for the primary cardholder. So, if you access Boingo wi-fi from time to time, you’ll be able to save on these purchases.

But otherwise, you’ll be losing out on rewards, and have a new spending requirement to meet just to be able to keep the card as well.

You can read more about the upcoming changes here.

Rogers Platinum Mastercard changes

Changes are also coming to the .

This card currently offers the following rewards:

  • 3% cash back on purchases made in foreign currency,
  • 2% cash back on Rogers products, and
  • 1.25% cash back on all other purchases.

Starting on June 2nd, here’s what you’ll be earning instead for the :

  • 3% cash back on purchases made in U.S. Dollars, and
  • 1% cash back on all other purchases.

Again, you’ll be earning less rewards. You’ll only earn bonus cash back on USD purchases, while earning 0.25% less on everything else, including purchases made in other foreign currencies.

So for these cards, the changes can be summarized like this:

Currency Net earning now Net earning after June 2nd
CAD (on Rogers purchases) 2% 1%
CAD 1.25% 1%
USD 0.5% 0.5%
Other currencies 0.5% -1.5%

No other benefits are coming your way either. You can read the full details on the changes here.

Fido Mastercard changes

What about the ?

Though the earn rates are currently identical to the Platinum card, it’s going with a different approach with the new update.

Here’s what you’ll be earning starting June 2nd:

  • 1.5% cash back on recurring bills and subscriptions, and
  • 1% cash back on all other purchases.

This card is losing the foreign currency bonus completely, but you’ll earn more on recurring bills as a trade off.

Here’s a summary of the before and after for this card.

Currency Net earning now Net earning after June 2nd
CAD (on Rogers bills) 2% 1.5%
Recurring bills 1.25% 1.5%
Other CAD 1.25% 1%
Foreign currencies 0.5% -1.5%

Full details on the changes are here.

Alternative credit cards to consider

Bummed out about these changes? It’s never great when a card gets devalued.

To find some personal recommendations, you can take our challenge – where we’ll find your best card guaranteed (or we’ll give you $5).

You can also peruse both our no fee and cash back pages, and see what else is out there for you. Or, take a look at our 2020 best cards blog post for all of our award winners in 24 categories.

Want to save on FX fees? Our page here lists all the top no foreign exchange fee credit cards in Canada.

Here are some of our top cash back replacement cards. Some of these are also great compliments to the Rogers cards should you decide to keep it.

Credit Card Welcome Bonus Earn Rates Annual Fee, Income Requirements Apply Now
Home Trust Preferred Visa None * 1% cash back on eligible purchases
* No foreign exchange fees
* No annual fee
* No income requirements
Apply Now
American Express SimplyCash Preferred 5% cash back for the first 6 months (terms) * 2% cash back on all purchases * $99
* No income requirements
Apply Now
Scotiabank Momentum Visa Infinite 10% cash back for the first 3 months (terms) * 4% cash back on groceries and recurring bills
* 2% cash back on gas and transit
* 1% cash back on all other purchases
* $120, first year free
* 60K personal or 100K household
Apply Now
BMO CashBack World Elite Mastercard 5% cash back for the first 3 months (terms) * 1.5% cash back on all purchases * $120, first year free
* 80K personal or 150K household
Apply Now
Tangerine Money-Back Mastercard $250 cash back (terms) * 2% cash back on up to 3 categories of your choice
* 0.5% cash back on all other purchases
* No annual fee
* 12K personal
Apply Now

Looking for a card just for the foreign exchange fee savings? Then you may want to check out the .

Instead of offering bonus rewards on FX purchases like Rogers, this card waives the fee completely, saving you that cost up front. And yes, that’s for all foreign currencies, not just USD.

Plus you’ll earn 1% cash back on all eligible purchases. Just note that this doesn’t include purchases made in foreign currency.

And it also includes free roadside assistance and rental car insurance to boot.

For the highest flat cash back earn rate, the is a great card to take a closer look at.

You’ll earn 2% cash back on all your purchases – no caps or categories to worry about. Plus, in the first 6 months, you’ll earn 5% cash back on all purchases until you’ve earned $300.

It also has great travel and purchase insurance with 9 different types of coverage (especially great for a cash back card). And you’ll get access to all the Amex benefits like Amex Offers and Front Of The Line to top it all off.

It’s for an annual fee of $99 and no income requirements.

Or for no annual fee, you could go with the instead.

You’ll earn 1.25% cash back on all purchases, with 2.5% in the first 3 months (until $150 has been earned), and still get all the Amex benefits.

And if Amex acceptance concerns you, just hold on to your Rogers card and use it where Amex isn’t accepted.

For the high grocery spender, and those with lots of recurring bills to pay, the should be on your radar.

You’ll earn lots of cash back at these high rates:

  • 4% cash back on groceries and recurring bills,
  • 2% cash back on gas and transit, and
  • 1% cash back on all other purchases.

These are some high, unmatched earn rates for cash back cards in Canada. And it too has great insurance coverage, all for an annual fee of $120 that’s currently waived for the first year.

Need a Mastercard for those Costco trips? The best cash back alternative is the .

You’ll earn 1.5% cash back on every purchase, plus some premium perks with this card as well, like:

  • 13 out of 16 types of insurance,
  • free roadside assistance, and
  • a discount of up to 25% on rental cars through National and Alamo.

To top it off, you’ll earn 5% cash back for the first 3 months, until you’ve earned $200 cash back.

It does however come with an annual fee of $120 and World Elite Mastercard income requirements of either $80,000 personal or $150,000 household. But the annual fee is currently waived for the first year.

To increase your cash back earnings, consider pairing any Rogers card with the .

You’ll earn 2% cash back in 2 categories of your choice, which increases to 3 if you deposit your cash back into a Tangerine savings account. You’ll earn 0.5% cash back on all other purchases.

And if you’re craving a few extra perks, you could opt for the .

It has no annual fee, the same earn rates, but comes with mobile device insurance as well as rental car insurance.

Your turn

It’s never great when negative changes are coming to a card, but unfortunately it happens.

What are your thoughts on the changes? If you have a Rogers Mastercard, are you thinking of switching to another card?

Let us know in the comments below.