Rogers World Elite Mastercard Review

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 review

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.

Final word

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.

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By |2018-05-26T13:42:06+00:00May 23rd, 2018|Credit cards, Personal Finance, Travel|

7 Comments

  1. Greg May 7, 2018 at 4:40 pm - Reply

    Should be noted that the “cash back” rewards can only be used on Rogers or Fido related expenses like your phone or cable bill.

    If you don’t use any rogers products you can use the rewards.

    • Barry Choi May 8, 2018 at 1:29 am - Reply

      Hi Greg,

      You can request a statement credit once a year so this card is still a good fit for people who don’t use Rogers product if they don’t mind waiting. I personally would only use this credit card for foreign transactions, so that once a year credit would be perfectly fine for me.

      • Greg May 8, 2018 at 7:28 am - Reply

        Thanks!

        I did not know about the statement credit, that does make it more valuable if I ever decide to ditch my Fido services. Rogers is pretty misleading where you can the cashback.

        I find that most credit card reviews don’t focus on how the rewards can be used very much, which makes a huge difference in the value of the card.

        the 80k 150k isn’t a deal breaker if you have the lower tier Mastercard and spend more then $2500 a month for 6 months or so they will upgrade you the world elite no matter how much you make. I got my PC world elite on only 60K income and now I am upgraded to the Rogers world elite on far less than 150k family income I would need.

        • Barry Choi May 8, 2018 at 9:30 am - Reply

          Hey Greg,

          Yeah when you do a deeper dive, it’s a decent card considering it has no fee and offers no foreign transaction fees. Although the insurance details haven’t been released yet, but I imagine 10 days of travel medical insurance will be included is a nice bonus.

          Good point about reviews talking about how the rewards can be used. Generally speaking, I tend to compare cards to other cards, but moving forward, I should include a section on how the points can be used.

  2. Ali Dharamsi September 25, 2018 at 8:41 pm - Reply

    I would stay away from this card considering i have used three times and every time i had to call rogers to verify transaction. Today they have blocked my card and is under review. Apparently someone from rogers will call me to discuss.

  3. Chinmaya September 29, 2018 at 2:51 pm - Reply

    I Agree with Mr. Ali about the card. They have also blocked my card without informing me and the account is under review. I do not know what type of review it is as i earn more than double there threshold income. Someone from rogers will call me with no time limit for review mentioned. This is totally ridiculous.

  4. […] Home Trust Preferred Visa has no annual fee and no foreign transaction fees. There’s also the Rogers World Elite Mastercard that technically charges the 2.5% fee, but you earn 4% in cash-back on all purchases made in a […]

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