The Rogers World Elite Mastercard is one of Canada’s best cashback credit cards, offering impressive benefits without any annual fees. This credit card boasts attractive cashback benefits, including up to 3% on USD purchases and a solid 1.5% on all other purchases.
If you’re in the market for a credit card that provides competitive cashback rates on all transactions, along with valuable travel insurance perks and the added convenience of zero foreign transaction fees on USD purchases, the Rogers World Elite Mastercard deserves your attention.
In this comprehensive Rogers World Elite Mastercard Review, we’ll provide you with a detailed analysis to help you make an informed decision. We’ll explore the card’s strengths and weaknesses, guide you through the application process, and show you how to maximize your rewards. By the end of this review, you’ll have a clear understanding of whether the Rogers World Elite Mastercard is the right fit for your financial needs.
Rogers World Elite Mastercard – A Quick Glance
The Rogers World Elite Mastercard, launched in May 2018, is a rare no-annual-fee World Elite credit card. New cardholders get a $25 bonus for the first purchase in three months. With a simple 1.5% cash back on all purchases and 3% for USD transactions, it's ideal for cross-border shopping. Maintain it with a $15,000 annual spend, or you may get a lower-tier card. The income requirement is $80,000 (personal) or $150,000 (household).
- $25 Welcome Bonus
- No Annual Fee
- Competitive Cash-Back Rates for CAD Purchases
- High Cash-Back Rate for U.S. Purchases
- Cash Out with a Minimum of $20
- Comprehensive Travel and Shopping Insurance
- Luxurious Airport Benefits
- Spending Minimum
- High-Income Requirements
- Foreign Exchange Fees Still Apply
An Overview of the Rogers World Elite Mastercard
The Rogers World Elite Mastercard is one of the two credit card offerings from Rogers Bank currently open for applicants.
Launched in May 2018, the Rogers World Elite Mastercard is an attractive option, particularly for those who value simplicity in their credit card choices. This credit card distinguishes itself by offering a World Elite credit card with no annual fee, a rare feature.
As a welcoming gesture, new cardholders can enjoy a $25 bonus when they make their first purchase within the initial three months of receiving the card.
Rogers World Elite Mastercard boasts a straightforward and transparent rewards system. You’ll earn a consistent 1.5% cash back on all purchases, making it a reliable choice for everyday spending. The card truly shines for those who frequently make purchases in US dollars, as it offers a generous 3% cash back on such transactions, a significant advantage for cross-border shoppers.
However, it’s important to note that to maintain the full range of benefits, cardholders are encouraged to spend a minimum of $15,000 annually. Falling short of this threshold may lead to a downgrade to a lower-tier credit card with reduced perks. Additionally, the Rogers World Elite Mastercard has income requirements of $80,000 on a personal level or $150,000 for a household, so be sure to consider these eligibility criteria when applying.
Rogers World Elite Mastercard Benefits
The Rogers World Elite Mastercard offers several compelling features and benefits that make it a standout choice among cash-back credit cards.
1. $25 Welcome Bonus: Upon making your first purchase with the Rogers World Elite Mastercard, you’ll instantly receive a $25 cash-back bonus as a warm welcome.
2. No Annual Fee: Despite providing a substantial 1.5% cash back for CAD purchases and 3% for U.S. purchases, the Rogers World Elite Mastercard comes with no annual fee, making it a cost-effective choice.
3. Competitive Cash-Back Rates for CAD Purchases: This card offers a competitive base cash-back rate of 1.5% for all purchases made within Canada. This outperforms the 0.5% to 1% base rates commonly found on no-fee cash-back cards.
4. High Cash-Back Rate for U.S. Purchases: The card’s standout feature is its impressive 3% cash back on all purchases made in the United States, translating to roughly 0.5% back when you factor in the 2.5% foreign transaction fee.
5. Cash Out with a Minimum of $20: Unlike other cash-back cards that often restrict when you can redeem your earnings, this card allows you to cash in your rewards as soon as you’ve accumulated $20. This flexibility equates to approximately $1,334 in spending at the standard 1.5% earn rate.
6. Comprehensive Travel and Shopping Insurance: Surprisingly, this no-annual-fee card offers an extensive range of free insurance benefits. As a cardholder, you’ll enjoy:
- Rental car insurance
- Trip interruption and cancellation coverage (up to $1,000 for each)
- Emergency medical insurance (covering you for up to 10 days)
- Purchase protection (extending for 90 days)
- Extended warranty (an additional year of coverage)
7. Luxurious Airport Benefits: This card grants you access to over 1,000 LoungeKey airport lounges in more than 100 countries. Furthermore, you’ll enjoy complimentary access to Boingo Global WiFi, connecting you to over one million hotspots worldwide, enhancing your travel experience significantly.
Downsides of World Elite Mastercard
1. Spending Minimum: To keep your Rogers World Elite Mastercard and its benefits intact, you must spend a minimum of $15,000 annually with the card. Falling short of this spending threshold may prompt Rogers to switch your account to a different card.
2. High-Income Requirements: It’s worth noting that this card is better suited for those with higher incomes. The minimum income requirements, set at $80,000 on a personal level and $150,000 for a household, may exclude many Canadians from eligibility.
3. Foreign Exchange Fees Still Apply: While the card offers an attractive 3% cash back on USD purchases, it’s important to note that it doesn’t waive foreign exchange fees. Consequently, you’ll effectively receive 0.5% cash back on such transactions after factoring in the 2.5% foreign exchange fee. Nevertheless, this is still a better deal than paying fees for purchases in any currency other than CAD and USD.
Rogers World Elite Mastercard Fees
While the Rogers World Elite Mastercard has no annual fees, some charges apply, such as:
- Foreign transaction fee: 2.5%
- Purchase interest: 19.99%
- Cash advance interest: 22.99%
How to Redeem Your Rewards
Earning and redeeming rewards with your Rogers World Elite Mastercard is straightforward. You’ll earn 1.5% cash back for each $1 spent on purchases made in Canada and an impressive 3% cash back for purchases in the United States (effectively about 0.5% after accounting for the 2.5% foreign transaction fee).
When it comes to cashing in your rewards, you have two options. The first is to utilize the Mastercard Pay with Rewards app, which offers a hassle-free way to maximise your rewards. You can redeem them for a statement credit against your current balance.
Just remember that you can only redeem cash back for purchases made in the last 90 days, and a minimum redemption amount of $20 is required before you can initiate the redemption process.
Alternatively, you can opt for an annual lump sum redemption, which you can apply against your card balance during the month of January. To receive this once-a-year lump sum, contact Rogers before December 1 or submit a form through their online customer service portal.
How To Apply For Rogers World Elite Mastercard
To be eligible for the Rogers World Elite Mastercard, you must meet the following requirements:
- Be a Canadian resident.
- Have a minimum annual income of $80,000 or a household income of $150,000.
- Not have declared bankruptcy in the past seven years.
- Be at least the age of majority for your province or territory.
- Maintain a minimum annual spending of $15,000.
The application process for Rogers World Elite Mastercard is straightforward and easy. You can complete the entire process online from the convenience of your home. Follow these steps to apply:
- Start by clicking the “Apply Now” button on the Rogers Bank website.
- Next, confirm your eligibility for the Rogers World Elite Mastercard by answering the eligibility questionnaire.
- Review the card’s terms and conditions, then click “Continue” to proceed.
- Enter your personal information, including your full name, date of birth, phone number, email address, residential address, and employment status.
- Provide details about your financial situation, including your annual personal income, household income, and residential status.
- Review the information you’ve entered for accuracy, and once satisfied, select “Continue.”
- Take a moment to go through the card’s insurance coverage and review the terms and conditions.
- Finally, submit your application to complete the process.
Rogers World Elite Mastercard vs Rogers Mastercard
Here, we compare the two Rogers Bank credit cards.
Rogers World Elite Mastercard
10% cash back for the first 3 months
- 3% cash back on USD purchases
- 1.5% cash back on all other purchases
- 2% cash back on USD purchases
- 1% cash back on all other purchases
- 2% cash back on all purchases if you have a Rogers service
- World Elite Mastercard benefits
- Mastercard Travel Pass membership (no free passes)
- 2% cash back on all purchases if you have Rogers Wireless and Home service
- 5 free Roam Like Home days per year
- 30% bonus rewards if you use your rewards to pay your Rogers Bill
- $80,000 personal
- $150,000 household
Rogers World Elite Mastercard Alternatives
If you don’t make many U.S. dollar purchases, want a card with more travel perks, like priority boarding or free checked bags, and you’d prefer to earn different rewards, like points or miles, then you should consider other credit cards like the Tangerine World Mastercard.
ROGERS WORLD ELITE MASTERCARD
TANGERINE WORLD MASTERCARD
Minimum annual income
$80,000 ($150,000 household)
$60,000 ($100,000 household)
- 3% unlimited cash back on all U.S. dollar purchases
- 1.5% unlimited cash back on all other purchases
- 2% unlimited cash back from up to three money-back categories of the cardholder's choice
- 0.5% unlimited cash back on all other purchases
- Airport lounge access (for a fee).
- Travel insurance.
- Rental car insurance.
- Purchase protection.
- Airport lounge access (for a fee).
- Mobile device insurance.
- Purchase protection.
- Boingo Wi-Fi worldwide.
- Rental car insurance.
- Extended warranty.
Final Thoughts on Rogers World Elite Mastercard
From competitive cash-back rates to valuable insurance perks and the convenience of no foreign transaction fees on U.S. purchases, the Rogers World Elite Mastercard packs a punch.
If you’re seeking a rewarding financial tool with perks tailored to Canadian residents, I highly recommend considering the Rogers World Elite Mastercard. Don’t miss out on this opportunity to enhance your financial strategy and make the most of your spending.
Ready to take the next step? Start your application and embark on your journey with the Rogers World Elite Mastercard today. Your financial future awaits!