Looking to travel with a fabulous credit card loaded with extensive benefits but at zero cost? That is the near impossible dream to get. Or is it? Rogers Bank may just have the card you are looking for. Here is our review on the 3 Rogers Bank Mastercard flavors: The Fido, the Platinum and the World Elite Mastercards by Rogers Bank. Read on to find out just how good these three cards really are.
However, if you want to skip to our recommendation, we firmly believe that anyone who meets the income requirements for the Rogers World Elite Mastercard should apply for their own right away. You only stand to gain if you’re approved!
Rogers Bank has become a lot more flexible in its card benefits and loyalty system. No annual fees, anytime anywhere redemption for your accumulated loyalty rewards — otherwise known as ‘Cash Back Rewards’. No catch, no limit — except for non-eligible purchases. Is it really that worth it, or is it too good to be true? You’ll find out in this review.
Is Rogers Bank A Typical Bank?
Before we dwell in the details of what Rogers Bank has to offer, let’s address this question. For the time being, Rogers Bank only has two products – credit cards and protection services.
So if you are expecting loan application options or investment deals from Rogers Bank, such products are yet to exist.
You may have come across Rogers Bank online banking and wonder what’s that about. However, it’s only applicable to the Rogers Bank primary cardholder for registration and usage.
Three Types of Credit Cards by Rogers Bank
Rogers Bank currently provides 3 types of Mastercard credit cards:
- The Fido™ Mastercard®
- The Rogers™ Platinum Mastercard®
- The Rogers™ World Elite® Mastercard®
Here is a summary of the perks you get with each card:
||Fido™ Mastercard®||Rogers™ Platinum Mastercard®||Rogers™ World Elite® Mastercard®|
|Welcome Bonus||$25 cashback on your first purchase within 3 months of receiving your card.||$25 cashback on your first purchase within 3 months of receiving your card.||$25 cashback on your first purchase within 3 months of receiving your card.|
|Interest Rate (purchases)||19.99%||19.99%||19.99%|
|Interest Rate (cash advance & balance transfers )||22.99%||22.99%||22.99%|
|Earn Rate on Purchases in Foreign Currency||3% unlimited cash back rewards||3% unlimited cash back rewards||4% unlimited cash back rewards|
|Earn Rate on Rogers Products and Services||2% unlimited cash back rewards (including Fido products)||2% unlimited cash back rewards||2% unlimited cash back rewards|
|Earn Rate on All Other Purchases||1.25% unlimited cash back rewards||1.25% unlimited cash back rewards||1.75% unlimited cash back rewards|
|Lounge Access||N/A||N/A||Free LoungeKey program membership. Entrance fee: $32USD per person/visit|
|Insurance Coverage||N/A||N/A||• Purchase Protection and Extended Warranty |
• Out-of-Province/Out-of-Country Emergency Medical
• Rental Car Collision/Damage
• Trip Cancellation
• Trip Interruption
|Supplementary Cards||Free – Up to 9 cards||Free – Up to 9 cards||Free – Up to 9 cards|
|Eligibility Requirements||Credit approval||Credit approval||• Credit approval |
• Minimum annual personal income of $80,000 or annual household income of $150,000
For more details on each card, you can click on its name in the table.
The aforementioned earn rates are for eligible purchases only. To avoid missing out on cash back rewards, here is Rogers Bank’s definition of non-eligible purchases, i.e. payments for which you will not receive Cash Back rewards:
‘Non-eligible purchases include: cash advances, balance transfers, fees, interest, returns or payments.’
Anything else you pay for with your cards will count as an eligible purchase and will earn you cashback. Please note that Cash Back rewards are based on the purchase price only (excluding any associated transaction fees).
Rogers World Elite Mastercard – A No-Fee Travel Card
This is one of the rare times you find a $0 annual fee travel card with lots of benefits. Meet the Rogers Bank World Elite Mastercard.
What makes the Rogers Bank World Elite a great travel card?
- No annual fee
- 3% unlimited cash back rewards on foreign currency transactions
- Redeem Cash Back rewards for travel booking — no seat restrictions or blackout periods.
- It provides Travel and medical insurance coverage.
- Free LoungeKey membership to access 850 airport lounges across 400+ airports globally.
The Fido Mastercard Vs. The Rogers Platinum Mastercard
If you compare the features and benefits of the Fido Mastercard and the Rogers Platinum Mastercard, you would probably wonder what’s the difference between both these cards, since they share the exact same benefits.
Apart from their names, both cards are very similar, but the key difference between them would be what you can redeem your cash back rewards for in each case:
- Rogers Platinum cardholders can redeem cash back to pay for monthly bills, purchases at retail outlets, and sports games tickets.
- Fido Mastercard cardholders can redeem cash back to pay for telecommunication bills, mobile devices, and accessories.
Cash Back Rewards
Cash Back Rewards is the term used to identify Rogers Bank’s loyalty program. These ‘cash back rewards’ are not to be mistaken as actual monetary cashback to your credit card statement.
Cash Back Rewards are only used to be redeemed and applied in purchases from either of the two options below:
- Mastercard Pay with Rewards app for iOS or Android, or
- Rogers Bank online website, where you can see ‘Pay with Rewards’ on the left pane upon login.
So what can you redeem from your ‘Cash Back rewards’?
Here are some of the things you can expect to buy using Mastercard Pay with Rewards:
- Rogers products and services
- Gas, groceries, restaurants and other everyday purchases
- Flights, gifts, home improvements or other big-ticket purchases
You can redeem with as little as $20! Even though it’s not actual cash that is credited back to you, it’s still a pretty good offer to redeem with Mastercard Pay with Rewards since it involves daily need purchases.
Previously, Rogers Bank only allowed redemption of the accumulated Cash Back rewards once annually during the year’s end. As of February 2019, Rogers Bank has made it possible for a Rogers™ Mastercard® cardholder to redeem their cashback rewards whenever they want.
Way to go Rogers Bank!
On top of the unlimited cash back earning potential, this makes it a great convenience for a Rogers Bank Mastercard cardholder.
Rogers Bank Mastercard’s Security
As you have noticed, Rogers Bank cards are all Mastercards. This means they come with solid in-built security features like:
Rogers Bank Insurance
Rogers Bank offers 3 types of insurance – InfoProtector360, travel insurance and Group Balance Protection.
If you are looking to enhance the security on your selected Mastercard, you can consider optional add-ons you can purchase. These come bundled as a part of the InfoProtector360 suite, where you get:
- Info protection
- Device protection
- Travel protection
- Lost wallet protection
The most eye-catching feature from this service is that it notifies you when your information is found on the web at any given time. This allows you to take the required action immediately.
This is a really helpful feature to avoid financial theft online, especially with the growth of online banking and e-commerce as we progress with time. The cost for this service is $10.99/month plus taxes. At present, the first month is free!
Neither the Fido Mastercard nor the Rogers Platinum Mastercard has any sort of card-embedded insurance coverage to speak of. This was actually to be expected, considering that they are both no-fee cards. You can, however, opt to purchase the optional insurance coverage Rogers Bank offers.
On the other hand, the Rogers World Elite Mastercard is also free, but it does come with travel insurance to make your travels worry-free. As a recap, here is the insurance you get with a Rogers World Elite Mastercard:
- Purchase Protection and Extended Warranty
- Out-of-Province/Out-of-Country Emergency Medical
- Rental Car Collision/Damage
- Trip Cancellation
- Trip Interruption
Click here for more details on Rogers World Elite Mastercard insurance coverage. You can also read our post on the best travel insurance for Canadians if you want to get a clearer picture of how good this insurance package really is.
If you have a minimum personal income of at least $80,000 or a $150,000 annual household income, and you still haven’t applied for your own Rogers World Elite Mastercard, you’re definitely missing out.
If you are not in the income-earning category mentioned above, then you can still get the travel insurance required as advised by Rogers Bank’s official insurance provider; Allianz Global Assistance via an insurance online quote.
Group Balance Protection Insurance
You can also look to receive protection for unexpected events for you and your loved ones. The optional Group Balance Protection Insurance provided are as follows:
- Involuntary job loss
- Involuntary loss of self-employment
- Becoming disabled
- Passing away
- Becoming hospitalized
- Diagnosed with a critical illness
Coverage is applicable from 18-64 years of age only among other terms and conditions of the Group Balance Protection Insurance. The monthly premium would cost $0.99 per $100 of your monthly Rogers Bank credit card account statement balance, plus applicable taxes.
Rogers Bank Online Banking
The online banking service is only available to a Rogers Bank primary credit cardholder. The purpose of having an online banking account is to have 24/7 access to your paper statements. You would be able to monitor your card activities peacefully and lock your card if you suspect any unauthorized use of your card.
To register, you will need to
- Click ‘Register’ below the sign-in button at Rogers Bank Online.
- Enter your current Rogers Bank™ Mastercard® account information.
- For additional security, a verification code will be sent to the email address you provided.
- You will need to sign in with your username and password you created.
It seems to be an excellent time to own a Rogers Bank Mastercard since there is no cost to owning one and you get lots of perks. It’s a simple matter of which card suits you and which one you qualify for. Since all three cards are free, it all comes down to choosing the one with the best benefits, and that, without a doubt, is the Rogers World Elite Mastercard. It’s a great travel card, with decent travel insurance, lounge access, and awesome cashback earn rates, and it’s free!
If you don’t make the cut regarding the eligibility income requirements for the World Elite, you can always apply for either the Fido Mastercard or the Rogers Platinum Mastercard. They are also great choices and you won’t risk a cent by having one in your pocket. Why? Because they’re also free.
If you want to maximize your return on your monthly bills, purchases at retailers or sporting events, then definitely go for the Rogers Platinum Mastercard.
On the other hand, if you’d rather maximize the return on your phone bills, data plan and even when you revamp your mobile every once in a while, then it’s a better idea to get the Fido.
Have you used any of these Rogers Bank Mastercards? Leave a comment below and tell us all about it. We’d love to hear from you!