Disclosure: I’m a casual employee of Rogers, but not a spokesperson. All opinions are my own.
In the last little while, Rogers has been offering the Rogers World Elite Mastercard to select customers. The early reports were encouraging, so I reached out to Rogers directly and they confirmed to me that the card will be available to the general public as of May 23, 2018. Since the details have been revealed to me, I’m giving you my Rogers World Elite Mastercard review now in case you’re offered the card or you’re thinking about applying for the card later.
Before I begin my review, it’s worth noting that Rogers announced big changes to their Rogers Platinum Mastercard and Fido Mastercard (which coincides with the May 23, 2018 date) earlier this year. To simply put it, both cards are being devalued which understandably annoyed everyone. However, it now seems clear that the Rogers World Elite Mastercard is meant to be a “replacement card” which should get some people excited again. Let’s take a look at the Rogers World Elite Mastercard and see if it’s worthy to be in your wallet.
Rogers World Elite Mastercard benefits
- No annual fee
- Earn 2% cash back on Rogers products and services
- Earn 1.75% cash back on all other purchases made in Canadian dollars
- Earn 4% cash back on purchases made in foreign currencies
- Comprehensive travel insurance package for 10 days (3 days for those aged 65+)
- Purchase Protection and Extended Warranty
- Personal income requirement of $80,000 or a household income of $150,000 to qualify
First off, people will say that the Rogers World Elite Mastercard is similar to the old Rogers Platinum Mastercard. Although this is mostly accurate, as of May 23rd, 2018, the Rogers Platinum Mastercard has a different rewards structure so you can only look at it from what you’re being offered today.
This card seems to be clearly aimed at Rogers customers since it offers 2% cash back on Rogers products and services, but when you look at the other cash back rewards, you’ll quickly realize that this card is great for the general public.
1.75% cash back on all other purchases is insanely high for a credit card with no annual fee. That puts it close to the Tangerine Money-back card, but with the Rogers card, you’ll earn 1.75% cash back for all categories as opposed to only three categories earning you 2% with Tangerine. The downside is that you need to have a personal income of $80,000 or a household income of $150,000 to qualify.
Redemptions can be redeemed starting at $20 by going through www.rogersbank.com or the mobile app. I should note that your cash back can only be used on Rogers related products or services. Alternatively, if you request an annual statement credit by December 1st each year, you’ll see it applied to your account by the end of January of the following year which is a nice option for those who don’t use Rogers products.
In case you’re curious, you can read my review of the Rogers Platinum Mastercard to see how it compares to the World Elite card.
How it compares to other cards
Another reason why my Rogers World Elite Mastercard review is positive is that this card gives you 4% cash back on purchases made in a foreign currency. Even when you factor in the 2.5% foreign exchange fee, you’re earning 1.5% which makes it arguably the best credit card with no foreign exchange fees.
You could also compare this card to the PC Financial World Elite Mastercard since they are the only two World Elite Mastercards with no annual fee. The PC Financial card gives you 4.5% cash equivalent at Shoppers Drug Mart and 3% where PC products are sold, but all other purchases only give you a 1% return.
I wouldn’t say one card is better than the other since they’re different. Heck, if you’re a Rogers customer and you shop at Shoppers Drug Mart and Loblaws owned stores, you should probably get both to maximize your rewards.
The travel insurance offered by the Rogers World Elite Mastercard is not bad for a credit card with no annual fee, but note that it does not include lost or delayed luggage insurance. If travel insurance is something you need, I’d recommend looking at a travel rewards credit card that offers you a better package and comes with a huge signup bonus.
As I said earlier, my Rogers World Elite Mastercard review is positive. This is an ideal card for Rogers customers, travellers, and people who don’t want to carry multiple credit cards to maximize their cash back rewards. That being said, you’ll still want to compare this to other cards on the market to see if it’s the right fit for you.