Rogers Platinum MasterCard Credit Card Review

Rogers MasterCardRogers customers should be ecstatic – and so should everyone else. The Rogers Platinum Mastercard is one of Canada’s richest cash back cards with a surprising one of a kind feature that makes it stand out from the pack – even if you’re not a Rogers customer, it’s worth a look.

To start, the Rogers MasterCard has the richest flat cash back rate in all of Canada for a no-fee card of 1.75% on ALL spend, with no limits – rich, simple & transparent. Compare that to most other no fee flat cash back rates of .75% to 1.25% and the value is compelling.

But perhaps most unique and valuable of all, the Rogers MasterCard is one of a few credit cards in Canada (other than Chase cards) to subsidize foreign transaction fees – a huge benefit – offering 4% cashback when travelling outside Canada or shopping in a non-Canadian currency.

Right now the Rogers Platinum MasterCard offers a $35 welcome bonus, and you will never have to pay an annual fee as long as your Rogers bill is set up as a pre-authorized payment – regardless, there’s no annual fee in the first year for everyone – Rogers customer or not.

With no annual fee, a whopping 1.75% flat cash back rate on all spend and 4% cashback on foreign transactions there’s every reason to give this card a try, and few reasons not to have this card in your wallet – Rogers customer or not.

Apply Now!

Rogers Platinum MasterCard Review:

1. 1.75% Cash Back: The 1.75% flat cash back rate on all purchases is simply the highest earn rate of any no-fee cash back card in Canada. You’ll earn 1.75% on all purchases, whether it’s at Rogers or elsewhere, with no earning limits or categories.

Compare the Rogers MasterCard no-fee flat earn rate of 1.75% to Amex Simply Cash at 1.25%, BMO CashBack at 1%, RBC Visa Cash Back at 1%, CapOne Aspire Cash Back at 1% and TD Cash Back at .75%.

There seems to be some confusion around what you can redeem for on this card. Let’s be clear. You’ll be able to redeem your cash back rewards as a statement credit OR towards any Rogers product or service including any Rogers, FIDO or Chatr bill, any purchase in a Rogers or Fido store, the Shopping Channel, and tickets bought in person at the Rogers Centre ticket office (Blue Jays, Argos, concerts).

Rogers disclosure statements makes it clear that “you can contact Rogers Bank once per year to receive an annual statement credit for the value of the rewards you have earned during that period.” Or you can apply your cash back against any Rogers/FIDO bill or Rogers/FIDO store purchase, any time.

With the option to redeem your cash back as a statement credit, this card is just as good for non-Rogers customers as it is for Rogers customers! At 1.75% cash back, it’s the richest no restrictions cash back card in Canada.

2. 4% on Foreign Transactions: The Rogers MasterCard is one of the few Canadian credit cards to subsidize foreign transactions. While Rogers used to waive the foreign transaction fee of 2.5%, it now offers 4% cashback, making it one of the best methods to shop or travel abroad.

By subsidizing foreign transaction fees, the Rogers MasterCard becomes one of the cheapest ways to exchange your money. You will only be charged the VISA or MasterCard exchange rate, which comes close to the spot rate. It will beat the exchange rate you get with your debit card, bank branch, airport or exchange bureau by a long shot.

 3. No Annual Fee: There is no annual fee in the first year. Thereafter, there is no annual fee as long as your Rogers bill is set up as a pre-authorized payment on your Rogers credit card. If you do not set-up your Rogers bill as a pre-authorized payment in your second year, the annual fee is $29.

4. Welcome Bonus: Rogers is currently offering a welcome bonus of $35. The way we look at it, the welcome bonus, plus the annual fee waiver make this card free for 2 years for everyone, regardless of whether you’re a Rogers customer or not.

Is the Rogers Platinum MasterCard Worth It?

1. For Rogers Customers: If you’re a Rogers, FIDO, or Chatr customer there are four compelling reasons to get this card and keep it in your wallet.

  • The highest no-fee, flat cash back rate in the country of 1.75%
  • 4% cashback on foreign transactions. If you travel, or buy non-Canadian products online, this card is for you.
  • No annual fee makes it free to try
  • $35 sign-up bonus, can be applied against any Rogers bill or store purchase – they’re paying you to try it out

2. For Non-Rogers Customers: If you’re a non-Rogers customer, this may still be the best credit card in the Canadian market for you.

  • You can redeem your 1.75% cash back as a statement credit – not just against Rogers’ bills & services
  • There is no annual fee in the first year, making it free to try for at least a year
  • The sign-up bonus of $35 covers the $29 annual fee in the second year, making it free to try for two years
  • Take advantage of the 4% cashback on foreign transactions for at least the first two free years.
Apply Now!

42 comments

  1. Hi Greedyrates! It seems like the Rogers Masteracard has a new sister, the Fido Mastercard. I don’t quite understand the new welcome bonuses, but no annual fee seems nice for 1.5% cash back. What do you think, is it worth it, or the Rogers is still better?

    • Hi Jay,

      It depends. If you’re a Rogers or Fido customer, all you have to do is pre-authorize payments from your credit card to pay for your Rogers or Fido bill to waive the annual fee. If you do that, then both cards come with no annual fee forever, but the Rogers card gets you 1.75% cashback, instead of 1.5% with the Fido card.

      Both offer great value.

  2. This is simply a complaint about the new 4% cash back reward change that is scheduled to occur on August 17, 2016. I would just like to express my disappointment with this change as I do not believe it benefits Rogers customers at all.

    As things currently stand, no foreign conversion fees are charged. On top of that customers received 1.75% cash back rewards. Rogers claims the changes were as a result of customers not understanding how to figure out how much they were saving by waiving the foreign currency transaction fee. I don’t see how customers could not have figured out how much they were saving with the “no foreign transaction fee” benefit considering that most credit cards charged 2.5% as the standard foreign currency transaction fee.

    Therefore if you spent $1000 US you would have saved $25, plus you would have accumulated $17.50 in cashback rewards (with the 1.75% reward) for a net benefit of $42.50

    With the new changes, Rogers customers are worse off due to the fact that the 4% cashback is being offset by the fact that Rogers Bank is now charging a 2.5% standard foreign currency conversion fee, which when subtracted from the 4% cashback, works out to a cashback reward of only 1.5%.

    Plus there is no additional cash back reward.

    Therefore, after the changes a $1000 expenditure would only result in a new benefit of (4% cash back -2.5% fee = 1.5% cash back) $15 as opposed to the previous net benefit of $42.50

    Yes my math might be a little off but not by much.

    This is a significant decline in the benefit of this card for foreign currency transactions. I think it’s disingenuous to state that the changes are a result of customers not understanding how much they were saving, when that could easily have been explained. I think these changes were done to the detriment of Rogers customers and solely for the company’s gain.

    • When trying to explain to friends why I have the Chase Amazon Visa Card (because of its no FX fee) I totally accept that the majority of joe public, don’t realize they are paying 2.5% on all other cards. This is one of the rare occasions when I agree with Rogers, that the “no FX fee” is not fully understood by many consumers. That said, they should have made the net return the same, and had foreign transactions come in at 4.25% leaving a reward of 1.75%; the same as before the change.

      As for your calculations, I’m afraid your math is indeed off by quite a bit.

      Using your $1,000 example, under the old system, you were in-pocket $17.50. That’s it. You weren’t in pocket something that you were never charged.

      Under the new reward scheme, you earn $40 and are charged $25; you’re in-pocket $15. You lose $2.50 per $1,000 spent. If your math was correct, the application of just a 2.5% charge, was resulting in 283% less in rewards. Obviously, that makes no sense.

      One major bonus for anyone travelling or spending in a foreign currency between August 17 (when the new 4% kicks in) and October (when the 2.5% FX fee kicks in) is that you’ll be earning a whopping 4% clear on everything you charge in a foreign currency.

  3. Hi,

    Does this card offers extended warranty or price protection benefits of Master card?

    Thank you
    Yu

    • Hi Yu,

      Unfortunately, with no annual fee and a cashback rate of 1.75% and 4% on FX, something had to give. Looks like extended warranty and price protection were just too much given the high rate of the rewards return.

      GreedyRates Staff

  4. Well i guess it was too good to be true:
    Starting October 19, 2016, the Rogers Platinum MasterCard will charge a 2.5% foreign currency transaction fee consistent with most other credit cards.

    I was just about to sign up for this, but now i am not too sure. Do you think this is still a good deal?

    • Hi Kevin,

      It still seems to be the best deal on foreign transactions in Canada. You will now receive 4% cashback on foreign transaction. So while you’re paying the 2.5% foreign transaction fee, you’re netting out 1.5% in cash back (4%-2.5%). Not quite as good as before, where you would earn 1.75% cash back on foreign transactions, but still better than Amazon which only nets you 1% rewards on foreign transactions (including purchases at Amazon.ca).

      We also understand this feature will start August 17th, but we’re getting confirmation on dates and who it will impact and when.

      Hope that helps,

      GreedyRates Staff

  5. I applied this credit card last week over the phone. Right after the application, the agent told me it was under review but couldn’t tell me the reviewing period. 10 minutes later, I called a different number and another agent said I was denied for this credit and refused to tell me why but only asked me to contact transunion. During the application, the agent didn’t ask any ID from me but only some personal questions (like do you have a auto loan with which of the following financial institution?) in a hope to pull my profile from credit bureau. I tried to get my credit report from transunion online but the system doesn’t recognize my information so I have to file a paper request. I am wondering how accurate is Rogers “credit check”. If that’s possible it confuse me with someone else. I always make my bill payment and credit card payment on time and such result cannot be accepted.

    • Hi Dexter,

      The best thing for you to do right now is to review your credit history and score with TransUnion. There are many reasons, other than a recent delinquency, an issuer may decline an application, including a low credit score, thin credit history (not long enough), high debt to income ratio, too many outstanding lines of credit, etc…

      It’s very possible you have something on your file you’re not aware of that is causing the application decline. Review your file and score.

      Hope that helps,

      GreedyRates Staff

  6. What about cash advances and balance transfers? I haven’t found any info on either subject regarding the RFRMC. Any thoughts?

    • Hi Mona,

      You can do cash advances with the Rogers MasterCard, both in and out of Canada. If you do it outside of Canada, you will NOT be charged the foeign transacion fee. Balance transfers cost $2.50 in Canada, $5 outside of Canada, and start accruing interest at 21.5% from the time of the cash advance. Comparable to most other Canadian cash back credit cards, if not a little better.

      Hope that gives you the information you were looking for on the Rogers MasterCard balance transfers and cash advances. If not, let us know, and we’ll get the answer for you.

      GreedyRates Staff

      You cannot do balance transfers with the Rogers MasterCard at this time.

  7. BONNIE DENARDIS

    I agree that the Rogers Bank card is excellent value, and I now have one. However their customer service is very poor. Their reps are confused, and don’t seem to know much about the card. I was trying to get my Roger’s account pre-authorized for payment, and it was a very trying experience. In fact the 1st payment did not go through and they billed me as overdue. Trying to fix it was exasperating.

    • Hi Bonnie,

      Sorry to hear of the experience. We agree the Rogers MasterCard is one of the best cash back credit cards in the country, offering excellent value. Customer service can be an issue with many call centres. Hopefully your issue has been taken care of to your satisfaction. If not, let us know and we’ll see if we can get you the requisite attention to rectify the situation.

      GreedyRates Staff

  8. Regarding the statement credit. It states you can call once a year to have it applied. What if you don’t, does it continue to accumulate, or is there any risk of having the credit lapse?

    • Hi Francois,

      You cashback accumulates (rolls over year to year) even if you don’t redeem them in any given year. They do not lapse if you don’t redeem in any given year.

      Enjoy!

      GreedyRates Staff

  9. Hello GreedyRates,

    for this Rogers Platinum MasterCard, do you charge for issuing a second card to my daughter?

    peper

    • Hi Peter,

      There is no additional annual fee for the authorized user for the Rogers MasterCard – and as stated above there is no annual fee in the first year for any cardholder and the annual fee will be waived for anyone who pre-authorizes payment of a Rogers bill with their Rogers MasterCard.

      GreedyRates Staff

  10. Hi, how long does payments reflect on my credit account. I paid on wednesday and still not reflecting today Ssturday.

    Thanks

    • Hi Millicent,

      If you make a payment online, it can take from 2-5 business days for the payment to appear on your Rogers account. If you made your payment on Wednesday, it should appear by Tuesday.

      GreedyRates Staff

  11. Question: Is the automatic bank payment applied to my Rogers Mastercard account allow me to waive the $28 annual fee?

    • Hi Donald,

      Yes, you will never have to pay the $29 annual fee as long as your Rogers bill is set up as a pre-authorized payment.

      Rogers terms and conditions state that the “annual Fee will be waived for the first year, and thereafter if you use your Rogers Bank Platinum MasterCard® to preauthorize payments for any Rogers monthly bill. Preauthorized payments must be set up on or before the last day of each year and such preauthorized payments continue until the last day of the next year.

      Hope that helps,

      GreedyRates Staff

  12. Hi, Does anyone know which credit bureau they pull for rogers master card? Equifax or Transunion?

  13. Will the yearly fee be waived if I set up automatic fido payments with the card?

    • Hi Matt,

      Yes, the yearly fee will be waived if you set-up your FIDO account for automatics payments with the Rogers card.

      Enjoy!

      GreedyRates Staff

      • Hi GreedyRates, I just want to make sure about that, because I called them and asked them the same thing, but they told me the yearly fee would NOT be waived for Fido or Chatr preauthorize payments, only Rogers. Maybe the person at the end of the line was mistaken? So if you could confirm this in any way I would really appreciate it. Also my mobile phone is with Cityfone, a company owned by Rogers, so if by any chance Fido and Chatr really does cancel the yearly 29$ fee, do you think preauthorize payments for Cityfone monthly bill will work too? Thank you very much for your help.

        • Hi Jay,

          You absolutely can set-up pre-authorized payments with Fido and Chatr. Unfortunately, Cityfone is not owned by Rogers, and is not a Rogers company, therefore it understandably does not qualify. We called to reconfirm. Where do you see that Cityfone is a Rogers company?

          Hope that helps,

          GreedyRates Staff

          • Thank you for the clarifiation. As for Cityfone, the Wikipedia page says they were bought by Rogers in 2010. Rogers Wikipedia page also have Cityfone in their subsidiaries.

  14. Hi can you pay your rogers mastercard at the roger’s store using a debit card?

    • Hi Woes,

      Unfortunately you can’t pay your Rogers bill in a Rogers store. However, since you have a debit card, you can add Rogers as a Payee through your bank and pay off your credit card online – you can do it from the comfort of your couch.

      GreedyRates Staff

  15. Hello GreedyRates,

    I found that when it comes to foreign transaction, MasterCard (includes this card, footnote #3) does double conversion that first converts to USD then to CAD. Visa card also does the same but it converts directly to CAD if you made a foreign transaction in specified currencies such as GBP, EUR, USD etc.

    I am not sure how that 1.75% cash-back would benefit the double conversion rate, and I would appreciate if you could compare it with Amazon Visa card that has NO FOREIGN TRANSACTION FEE but gives only 1% of cashback.

    Thanks,

    Daniel

    • Hi Daniel,

      There should be absolutely no impact on the cost of your foreign exchange, this is a big misconception. Whether Rogers converts directly from Euros to CDN, or from Euros to USD, and then USD to CDN, makes no mathematical difference. We’ll show you the math using the the real exchange rates MasterCard used for Feb 11, 2016.

      1. Euro to USD =.886289. US to CDN =.713725. Now multiply .886289 X .713725 =.632566
      2. Euro to CDN = .632567

      You can see there is absolutely no difference, except for what amounts to a rounding error.

      MasterCard isn’t charging a tansaction fee everytime it performs a currency conversion. It’s using wholesale rates. As a result there’s no impact on your exchange rate by using the USD as the base currency. The only difference that will impact the cardholder will be the exchange rates used by Visa and MasterCard. To that effect, we have seen some discrepencies, where sometimes Visa is more expensive, and other times MasterCard. However, we have noticed that when Visa is more expensive it deviates from the mean to a greater extent then MasterCard.

      Hope that helps clarify our understanding.

      GreedyRates Staff

      • Thank you so much clarifying this with mathematical formula. Now i see there is no difference, I will definitely go and apply for the card. You guys are absolutely the best when it comes to credit card comparison. 🙂

  16. I applied for this card last year but when it arrived I was still a bit confused by the “statement credit”. When I phoned for clarification I was told that the “statement credit” was for Rogers services. This would be fine if I was a Rogers customer but I am not. Your article states that the credit could go against the actual credit card statement upon request. It’s too bad the agent didn’t mention this as I cancelled the card before using it and went for the MBNA World Elite. I might switch back over to the Rogers card at the end of the MBNA card year.

    • Hi Mike,

      We are positive you’re allowed to redeem once per year as a statement credit. We called in ourselves. Not only that, we verified their terms. Right in footnote 2 you have the following:

      “You can redeem points towards an eligible purchase made with your Rogers Platinum MasterCard® equal to or greater than $20.00 and up to the full transaction amount, or the cash value of your rewards balance, whichever is less. Or, you can contact Rogers Bank once per year to receive an annual statement credit for the value of the rewards you have earned during that period.”

      It’s a shame you were provided with incorrect information, unless the term is new, since Rogers did revamp the card in 2015. No matter the company, relying on call center staff is dicey. In the future, if your gut tells you the rep is wrong, ask to escalate, or call back and deal with another customer service rep.

      Hope that helps,

      GreedyRates Staff

      • Actually, the MBNA World Elite Card – thanks to this site – has been working out even better with the 2%, $100 gift, and first year waived fee. I am planning to cancel this card before the $89 fee kicks in and try the Rogers card again. Hopefully the first year waived fee deal and $35.00 gift will still apply as, technically, I won’t be a “new” user.

        I am curious if the annual MC statement credit is a relatively new term as a response to non-Rogers customer inquiries or the call center person didn’t know or didn’t bother to check.

        No harm done as the MBNA card is still the better deal for now.

        Cheers,

        Mike

        • I was originally using the MBNA SmartCash card and decided to switch over to the MBNA World Elite. I had accumulated $35 on the SmartCash Card which is under the $50 minimum redemption. I was hanging on to this card but decided to cancel it last evening. When I phoned the card centre I asked about transferring the points before cancelling and the agent placed 3500 points – the equivalent of $35 – to my World Elite account. I am very impressed with the MBNA card and the service.

          Cheers,

          Mike

          • Great feedback. Thanks Mike. Are you paying the $89 annual fee on the MBNA World Elite account now, or did they waive the fee first yeat?

          • I started using the card in November and there was no fee. The $100 sign up gift was applied in two $50 statement credits on the first two statements.

            I’ll have to see how my spending is until October as I’ll need to compare a 2% reward total after the $4450 spend to cover the MBNA fee versus a 1.75% reward total after the $1657 spend to cover the Rogers fee.

            Cheers,

            Mike

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