Rogers Platinum MasterCard Credit Card Review
Rogers 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 $25 welcome bonus in cash back rewards when you make your first purchase within 3 months of receiving your card, 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 purchases, 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.
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 make 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.” *Note that this statement credit is only applied in January. 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% Cashback on Purchases in a Foreign Currency
The Rogers Mastercard is one of the few Canadian credit cards to subsidize foreign transactions. Rogers now offers 4% cashback on foreign purchases, making it the “cheapest” method to shop or travel abroad!
By subsidizing foreign transaction fees, the Rogers Mastercard becomes one of the cheapest ways to exchange your money. Most credit cards offer 2% or less rewards per dollar spent and charge 2.5% in foreign transaction fees, for a net loss of .5%. Others offer 1% cashback and no foreign transaction fees, for a net gain of 1%. Rogers offers 4% cashback on foreign purchases, with a 2.5% foreign transaction fee, for a net cashback gain of 1.5% – the highest of all.
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 $25 in cash back rewards when you make your first purchase within 3 months of receiving your card. The way we look at it, the welcome bonus, plus the annual fee waiver make this card virtually free for 2 years for everyone, regardless of whether you’re a Rogers customer or not.
Is the Rogers Platinum Mastercard Worth It?
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 all purchases made in a foreign currency. If you travel, or buy non-Canadian products online, this card is for you.
- No annual fee makes it free to try
- The $25 sign-up bonus in cash back rewards when you make your first purchase within 3 months of receiving your card , can be applied against any Rogers bill or store purchase – they’re paying you to try it out
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 $25 in cash back rewards within 3 months after your first purchase, just about covers the $29 annual fee in the second year, making it free to try for two years
- Take advantage of the 4% cashback on purchases in a foreign currency.