Please note that this information is out of date. On June 2nd, 2020 all Rogers Mastercards went through significant changes: Rogers Mastercards Hit With Major Downgrades.
There’s plenty of leftover frustration with Chase’s recent exit from the Canadian credit card market.
And with Rogers recent announcement of changes to their Platinum and Fido Mastercards, it wasn’t a complete shock that it was met with vocal skepticism and disappointment.
The decrease in cash back rewards on foreign currency purchases to 3% (from 4%) was a big cause of that frustration. Because as you know, credit cards with no foreign transaction fee have become exceedingly rare up here.
Then, less than 10 days since Rogers announced those changes, a new story unfolds…
Excitement is now brewing over the upcoming launch of a new no fee Rogers card.
But, what’s the big deal?
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A No Fee World Elite Mastercard
So, what makes the Rogers World Elite Mastercard different?
Well, for starters, this is only the second (cash back) World Elite Mastercard with no annual fee.
(The PC Financial World Elite Mastercard being the first.)
Here’s the big deal: World Elite Mastercards are the most premium line of Mastercards and often come with a price tag of over $100 per year. They include many premium perks like:
- Priceless Cities ‒ exclusive experiences in different cities around the world like dining, celebrity meetups, guided city tours and more.
- Comprehensive travel insurance packages ‒ such as travel medical, trip cancellation, car rental collision, as well as a few others.
- Shopping protection ‒ which includes extended warranty and price protection.
- 24/7 concierge service ‒ which is like a 24 hour personal assistant, that can help you with dinner reservations, scoring event and concert tickets, locating hard to find items, and even helping you plan a special night out.
Earning Cash Back with the New Rogers Card
The other thing about this card that makes it stand out, is the generous earn rate for a no fee card.
The benefits
This card will give you:
- 1.75% unlimited cash back on all purchases,
- 2% unlimited cash back rewards on Rogers products and services (including Rogers, Fido, and chatr monthly bills), and
- 4% unlimited cash back on all purchases made in foreign currencies.
The downsides
One thing to remember is that, because it’s a World Elite card, the minimum personal income requirement is $80K.
As well, although this is a cash back credit card, we’re still not 100% sure how the cash back redemptions will work. For the Fido and Platinum Mastercard you need to jump through a few hoops if you don’t want to use your cash back for Rogers products. It will be interesting to see if this card is the same.
Compare other no fee cash back cards
Curious to know how this Rogers card stacks up against other no fee cash back cards? Check out our best cash back with no annual fee top 10 ranking.
No Fee World Elite Insurance
One of the biggest downfalls of the
However, with this new Rogers World Elite Mastercard you will be covered with 6 different types of insurance at no extra cost:
- extended warranty,
- purchase protection,
- rental car collision / damage,
- emergency medical,
- trip interruption, and
- trip cancellation.
While the details of these insurances are still unknown, any no fee card that gives you all this coverage, is pretty exciting.
When Can We Expect This Card?
Although Rogers hasn’t “officially” announced this card yet, personal finance forum users (like Reddit and RedFlagDeals) have said that Rogers has started contacting them to offer them an upgrade to this card. One user even posted this image of the offer that was sent to him by the company.
There’s no mention about when the card will be officially released ‒ yet, it seems that cardholders chosen to receive this offer will get their cards before June 15th, 2018.
So…it looks like this card will likely be officially be released to the public in three months time.
What do you think?
So, there you have it…
The highly-anticipated Rogers World Elite Mastercard.
And now it’s your turn…tell us what you think.
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