smayer97 said

Thanks for confirming. That's great news. But, I think the reward would be 3 x 1.025 x 1.5 = 4.6125%, since you earn 3% on the CDN$ amount of the US$ purchase.  

My calculations confirmed that the exchange fee is excluded. The reward is 3% of the converted amount before the exchange fee is added. So if the conversion amount is $100 CAD, you'd be billed $102.50. The reward would be $3 ($4.50 for Rogers charges) which is slightly less than 4.5% of the billed amount.

We're getting deep into the weeds - the point is the card has decent rewards for a free card if you can apply the rewards to a Rogers service.

Norman1 said

smayer97 said

Actually, not accurate. You will earn 3% of USD charges regardless of whether you have a Rogers family product.

The base earn rate is 1.5% on all CDN$ transactions. If you have a Rogers family service, the base earn rate becomes 2.0%. And the 1.5X multiplier only applies when you apply the rewards towards any charges for Rogers family services, getting you the equivalent of 3%.

see here: https://www.rogersbank.com/en/.....d_details/
…

It doesn't say that. It says 3% reward when you spend in US$ and either 1.5% or 2% on everything else. Purchases in other currencies, like Euro, British Pound, or Seychellois Rupee, would earn 1.5% or 2%:

With an eligible Rogers service
No eligible Rogers service
Rogers Red World Elite Mastercard
3% when you spend in U.S. dollars and 2% on everything else.
3% when you spend in U.S. dollars and 1.5% on everything else.

Roger Bank could be giving 1.5% x 1½ = 2.25%, 2% x 1½ = 3%, or 3% x 1½ = 4.5% when redeeming rewards from foreign currency purchases against Rogers-related purchases!  

First, I did not mention anything but US and CAD currencies. Second, I said exactly the same thing otherwise. Not sure what you see as different.

Wrayzor said

I can confirm that USD transactions earn ~4.5% in rewards for redemption on Rogers products. The reward calculation excludes the exchange fee charge, so it's not quite 4.5% (4.39% = 3*100/102.5*1.5).  

Thanks for confirming. That's great news. But, I think the reward would be 3 x 1.025 x 1.5 = 4.6125%, since you earn 3% on the CDN$ amount of the US$ purchase.

smayer97 said
BTW, I cannot prove the following, as I do not perform enough US$ transactions, but I do not see any separate tracking of US$-based rewards vs CDN$-based rewards. If this is true, then this suggests that you can apply the 1.5X multiplier and effectively earn 4.5% on US$ transaction. After offsetting the 2.5% charge, you are still ahead 2% on US$ transactions. Is someone else able to confirm this?  

I can confirm that USD transactions earn ~4.5% in rewards for redemption on Rogers products. The reward calculation excludes the exchange fee charge, so it's not quite 4.5% (4.39% = 3*100/102.5*1.5).

smayer97 said

Actually, not accurate. You will earn 3% of USD charges regardless of whether you have a Rogers family product.

The base earn rate is 1.5% on all CDN$ transactions. If you have a Rogers family service, the base earn rate becomes 2.0%. And the 1.5X multiplier only applies when you apply the rewards towards any charges for Rogers family services, getting you the equivalent of 3%.

see here: https://www.rogersbank.com/en/.....d_details/
…

It doesn't say that. It says 3% reward when you spend in US$ and either 1.5% or 2% on everything else. Purchases in other currencies, like Euro, British Pound, or Seychellois Rupee, would earn 1.5% or 2%:

Roger Bank could be giving 1.5% x 1½ = 2.25%, 2% x 1½ = 3%, or 3% x 1½ = 4.5% when redeeming rewards from foreign currency purchases against Rogers-related purchases!

It would be up to the OP if that is acceptable or not.

Norman1 said
Otherwise, one will have to try to get 3% by being a Rogers, Fido, Shaw, or Comwave subscriber (to earn at the 2% reward rate on the foreign currency purchases) and redeem the rewards on Rogers-related purchases (for the 1½X muliplication of the reward).  

Actually, not accurate. You will earn 3% of USD charges regardless of whether you have a Rogers family product.

The base earn rate is 1.5% on all CDN$ transactions. If you have a Rogers family service, the base earn rate becomes 2.0%. And the 1.5X multiplier only applies when you apply the rewards towards any charges for Rogers family services, getting you the equivalent of 3%.

see here: https://www.rogersbank.com/en/.....d_details/

BTW, I cannot prove the following, as I do not perform enough US$ transactions, but I do not see any separate tracking of US$-based rewards vs CDN$-based rewards. If this is true, then this suggests that you can apply the 1.5X multiplier and effectively earn 4.5% on US$ transaction. After offsetting the 2.5% charge, you are still ahead 2% on US$ transactions. Is someone else able to confirm this?

smayer97 said
Another that is free... Rogers Red World Elite Mastercard... they charge a 2.5% exchange fee but then give you back 3% in reward credit, offsetting the charge. Credit can be applied to any charges on the account.  

As it's not a true no-FTF card, it's worth noting that you will be charged the 2.5% on any refunds and the 3% only applies to foreign transactions in USD.

mordko said
Wealthsimple’s Visa is free if you are a premium or generation member. Used to be a waiting list for the card; not sure if you still have to wait. 2% cash back. For ATM withdrawals their Mastercard works well; no exchange fees + Wealthsimpe refunds any fees charged by the local bank (can be quite steep).  

The Visa is not really free if you're required to be a Premium,Generational client or DD $4000 monthly to waive (avoid) the $20 monthly fee? It's conditional, if that's a definition of free, it's using the term loosely.

Breakfast, lunch, multiple coffees at different cafés, and souvenirs at different shops could result in the card being declined that day for dinner!