Quick overview of the Rogers™ World Elite® Mastercard®

Rogers, a company better known for its communication and media business than its financial services, is clearly looking to shake up Canada’s credit card marketplace with the launch of their Rogers™ World Elite® Mastercard.

We've thoroughly reviewed the Rogers™ World Elite® Mastercard® to help you determine if it aligns with your lifestyle and spending requirements.

Who's it for?

The Rogers™ World Elite® Mastercard® is a great option for Canadian travelers looking to make up for the foreign transaction fees they’re charged on U.S. purchases, while still retaining the ability to generate significant cash back rewards on their purchases at home in CAD. All in all, if you’re looking for a no annual fee credit card that nullifies FX charges and offers an enticing lineup of other perks, the Rogers™ World Elite® Mastercard® is a superlative option.

Pros and cons

Pros

Pros

  • Lucrative cash back rates on USD and CAD purchases

  • No annual fee with valuable insurance benefits

  • Competitive against foreign transaction fee cards

  • Convenient cash back redemption options

  • Travel insurance perks and airport lounge access

  • Welcome bonus in cash back rewards

Cons

Cons

  • High income requirement: $80,000 personal or $150,000 household

  • Foreign transaction fee applies

  • Limited redemption options for statement credits

Rogers™ World Elite® Mastercard® welcome bonus

  • You’ll also get a welcome bonus of $25 in cash back rewards for making your first purchase on the card within the first 3 months. Conditions apply.

How to earn rewards with the Rogers™ World Elite® Mastercard®

The Rogers™ World Elite® Mastercard® gives cardholders some of the best cash back rewards rates available for a no-fee card—for both USD and domestic purchases. Cardholders receive:

  • 3% unlimited cash back rewards on purchases made in U.S. dollars
  • 1.5% unlimited cash back rewards on all other Canadian dollar purchases

While it does charge a forex fee of 2.5%, the fee is offset (and then some) by the cash back rewards rate of 3% on purchases made in U.S. dollars.

1 Cash advances, balance transfers, interest, fees and foreign transactions (including online purchases in foreign currencies) are not eligible for CashBack Rewards.

How to redeem cash back with the Rogers™ World Elite® Mastercard®

Rewards can be redeemed for a statement credit against Rogers, Fido or chatr products or services—but also on-demand against other everyday items on your Rogers™ World Elite® Mastercard® balance such as gas, groceries, travel, restaurants and more. This is accomplished by redeeming as little as $20 at a time on the handy Mastercard Pay with Rewards application, but also the Pay with Rewards portal on the card website.

A once-yearly lump statement credit can be applied directly to the card balance during the month of January (whenever the statement arrives depending on the dates set by the cardholder for billing) if preferred. To receive the statement credit, a cardholder has two paths they can pursue:

  • Call Rogers before December 1 to notify them that you want your cash back rewards in January
  • Send secured correspondence through the Rogers customer support system (also before December 1).  In-person or email activation of this option are unavailable.

Rogers™ World Elite® Mastercard insurance benefits

The Rogers™ World Elite® Mastercard® comes with some travel insurance benefits which are a welcome addition to a no-fee card. These include:

  • Extended Warranty and Purchase Protection: You'll receive an extended one-year warranty on items bought using this card, along with 90-day protection against theft or damage from the purchase date.
  • Rental Car Collision/Damage: This policy covers rental vehicles with an MSRP up to $65,000 for up to a 31-day rental period.
  • Out-of-Province/Out-of-Country Emergency Medical: You get $1 million in coverage for up to 10 days if you are 64 years or under and 3 days of coverage if you're 65+. 
  • Trip Interruption and Trip Cancellation: You are insured for $1,000 per person, up to maximum of $5,000 per account, per trip.

Extra benefits

  • Complimentary membership to Mastercard Travel Pass provided by DragonPass with access to over 1,300 airport lounges worldwide at $32 USD per person per visit

How the Rogers™ World Elite® Mastercard® compares

Rogers™ World Elite® Mastercard® vs. Tangerine Money-Back Card

The Tangerine Money-Back Credit Card offers a 2% unlimited cash back on purchases within two or three selected categories, while all other transactions earn a 0.50% cash back rate. This card allows you to choose the cash back categories of your choice. On the other hand, the Rogers World Elite Mastercard provides a 3% unlimited cash back solely on purchases made in U.S. dollars and 1.5% on Canadian dollar transactions, slightly lower than the Tangerine card's rate. Therefore, if you frequently make transactions in U.S. dollars, particularly during travel or online shopping, the Rogers™ World Elite® Mastercard® would be the preferable choice for you. Both cards have a no annual fee. 

When it comes to insurance benefits, the Rogers™ World Elite® Mastercard® provides you with more coverage.

Rogers™ World Elite® Mastercard® vs. Scotiabank Passport® Visa Infinite*

For those who travel often and don't mind paying an annual fee, the Scotiabank Passport Visa Infinite card may be worth considering. It offers 3x points for every $1 spent at Sobeys, Safeway, IGA, Foodland and participating co-ops, 2x points for eligible purchases at other grocery stores, dining, eligible entertainment and daily transit and 1x points on all other purchases. You also enjoy no foreign transaction fees on purchases and six lounge passes annually through the Visa Airport Companion Program, which are perks that are not included with the Rogers™ World Elite® Mastercard®. Both cards come with comprehensive insurance coverage. The Scotiabank Passport® Visa Infinite* also has lower eligibility requirements.

Is it worth it?

With lucrative cash back rewards rates on both foreign currency and CAD purchases, as well as solid insurance benefits and no annual fee, this card may win over many Canadians looking for shelter from some foreign transaction fees and the chance to earn on their domestic purchases as well.

Eligibility

To apply for the Rogers World Elite Mastercard you must have a personal income of $80,000 or a household income of $150,000. 

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

Money.ca Money.ca Editorial Team

The Money.ca Editorial Team is a group of passionate financial experts, seasoned journalists, and content creators who are deeply committed to providing unbiased, relevant, and accurate financial information. With years of combined industry experience, our team is dedicated to maintaining the highest journalistic standards and delivering informative and engaging content. From personal finance and investing to retirement planning and business finance, we cover a broad range of topics to suit the financial needs of our diverse readership. You can trust the Money.ca Editorial Team to empower you with the knowledge and tools necessary to make wise financial decisions.

Compare other foreign currency exchange rate credit cards

Disclaimer

The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.