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Rogers Platinum MasterCard
September 27, 2015
8:14 am
Peseta
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Looks like Rogers new Patinum MasterCard is the second player in the market (after Chase) to waive foreign exchange fees for its clients.

https://www.rogersbank.com/en/

Annual fee of $29 is waived for the first year (and in subsequent years if you have them charge your Rogers bill to it).

Given the card's rewards program, it seems to me that it would be most beneficial to Rogers customers, although, for those with frequent trips to the US/abroad, paying $29/year might outweigh the cost of 2.5-3.0% foreign currency surcharge on each transaction.

As of right now only Sears MasterCard and Amazon Visa (both issued by Chase) are the only fee-free credit cards with no foreign currency surcharge, but Chase will stop issuing Sears-branded cards on November 16, 2015.

That leaves the Canadian market with:

- Amazon Visa (no fee)
- Marriott Visa ($120 fee)
- Rogers MasterCard ($29 fee)

If anyone else knows of any other cards that have no foreign exchange commission/fees, please feel free to add.

Peseta

September 27, 2015
9:59 am
Loonie
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I think your summary is complete.
Did not know that the Marriott card had this huge fee though. That's ridiculous!

As soon as we find the time, we are planning to get an indoor aerial and ditch the Rogers cable. The price, even for basic cable service, is just not worth it. There is less and less that I want to bother watching on TV.

So, Amazon it is!

September 27, 2015
7:54 pm
Yatti420
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I don't use Rogers anymore woohoo! I use Start.CA (Rogers backbone) for Internet and get basic cable free from apartment.

If your a Rogers client its not a horrible cars.. Just not my cup of tea..

November 21, 2015
10:08 am
delos13
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What's your opinion on the fact that Rogers MasterCard first converts any foreign currency into USD and only then USD to CAD? Other credit cards convert foreign currency directly to CAD. Does conversion via USD eliminate the advantage of 2.5% fee waved?

November 21, 2015
7:13 pm
kanaka
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Peseta said

As of right now only Sears MasterCard and Amazon Visa (both issued by Chase) are the only fee-free credit cards with no foreign currency surcharge, but Chase will stop issuing Sears-branded cards on November 16, 2015.

Peseta

BUT the Chase Sears MasterCard continues on with the no foreign exchange fee with NO SEARS POINTS. The Sears card never had the no foreign exchange fee. But the question is....what happens to the Chase Sears MasterCard options once Bank of Nova Scotia takes the accounts over?

November 21, 2015
9:19 pm
Norman1
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kanaka said

....what happens to the Chase Sears MasterCard options once Bank of Nova Scotia takes the accounts over?

Found some info and wrote it in discussion Sears Financial credit cards after November 16, 2015.

October 4, 2016
5:18 pm
Peter
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Note that as of August 17, 2016, the Rogers credit card no longer waives the 2.5% foreign currency exchange fee. Instead they give 4% in "rewards" on foreign currency purchases instead of 1.75% on Canadian dollar purchases. This effectively gives you 2.25% extra instead of 2.5%, and in "rewards" rather than a straight discount.

October 5, 2016
7:13 pm
Doug
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There's also an annual fee, making Rogers credit card pretty "ho hum," in my opinion, even if the rewards ratio is attractive, what are the rewards? Credits to your Rogers bill resulting in more money funneled up to Rogers. :)

I stumbled upon their Fido "flanker brand," as it's called in the industry, has come out with a Fido MasterCard that offers 1.5% on all purchases which, may, be better off than a 2% cash back rewards in certain categories (i.e., Tangerine Money-Back or MBNA SmartCash) depending on where you shop and 4% on all purchases charged in a foreign currency (an interesting and unique play, perhaps they're trying to encourage travellers and roaming and their "roam at home" plans?). Still has 2.5% foreign currency charge but, if you net that out from the 4% in cash back rewards, still works out to 2% rewards net of fees. :)

https://www.rogersbank.com/en/card_details/fido_mastercard

CIBC has nabbed Telus for its Visa. Wonder if Scotiabank, TD Canada Trust or RBC Royal Bank will nab Bell Canada? ;)

Cheers,
Doug

October 5, 2016
8:05 pm
Loonie
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re: Fido card: Good one, Doug!
As far as I can see, you don't have to be a Fido customer to get the card although there is slight benefit if you are.
I have done calculations several years, and somewhere around half of our credit card purchases always come in under category "other", so, yes, 1.5% could be a very good return for lots of people, even as a secondary card that you only use for "other".
I wonder why they don't pair it with Rogers cell phones.
The 4% on foreign purchases could help armchair shoppers as well as travellers.
I heard a piece on the radio the other day to the effect that millenials identify less with Canada than the older generation and see themselves as global citizens, so this might be intended to court them.

October 6, 2016
9:03 am
Doug
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Loonie said

re: Fido card: Good one, Doug!
As far as I can see, you don't have to be a Fido customer to get the card although there is slight benefit if you are.
I have done calculations several years, and somewhere around half of our credit card purchases always come in under category "other", so, yes, 1.5% could be a very good return for lots of people, even as a secondary card that you only use for "other".
I wonder why they don't pair it with Rogers cell phones.
The 4% on foreign purchases could help armchair shoppers as well as travellers.
I heard a piece on the radio the other day to the effect that millenials identify less with Canada than the older generation and see themselves as global citizens, so this might be intended to court them.

Thanks, Loonie! :)

Yeah, my "take" on things is that being a Fido or Rogers customer isn't required, my only question is the reward paid out annually as a credit on one's Fido MasterCard bill or as a credit to one's Fido or Rogers bill? If the former, then that's totally fine. Yeah, the 4% cash back on foreign currency purchases is a neat "twist" on things and I tend to agree with your analogy that, quite often, slightly more than half of our purchases come from the "other" category, making this card beneficial. The "no annual fee" is an added bonus, too. :)

If I didn't already have a Scotiabank SCENE Visa and a Tangerine Money-Back Credit Card, I'd likely add this one to my credit card stable, either as a primary or a secondary card.

If Greg is still here reading posts, now that Capital One has long since cut the 0.5% anniversary bonus on its Aspire Cash MasterCard and it is only 1%, very few people are grandfathered into that scheme. This might be a great card for Greg, particularly as RBC has also since closed its Target and Shoppers Optimum MasterCard portfolios. :)

Cheers,
Doug

October 6, 2016
5:24 pm
Loonie
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Come back, Greg! We miss you, GS.

October 6, 2016
6:21 pm
Doug
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Loonie said

Come back, Greg! We miss you, GS.

I'll second that. :)

Cheers,
Doug

October 11, 2016
2:24 pm
gicjunkie
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Some things were left out about the Marriott Rewards Visa. For the $120.00 annual fee, you get an annual free night in a 1-5 category Marriott chain hotel. You have 12 months in which to use the free night, and sometimes it can get extended. You also get a slew of introductory Marriott Rewards points when first using the card. The number of points given depend on what the promo is at that time. (could be 30,000 to 50,000, but note that Canadians get fewer points than Americans) Plus, you get bonus points for using the card at Marriott hotels and independent restaurants, on airline tickets and at car rental agencies. If you travel a bit, this can come in handy.

October 12, 2016
1:07 pm
Doug
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Thanks, gicjunkie. Yeah, I didn't really include Marriott Rewards Visa because of the annual fee but also didn't know about about the free night's stay, which certain does cover the annual fee.

Once Scotiabank migrates their MasterCard portfolio off of JPMorgan Chase's platform, it's possible they might institute an FX fee. At that point, both Marriott's and Amazon.ca's Visa become more attractive.

Cheers,
Doug

June 2, 2017
9:03 pm
User230
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Got the sign up bonus today. Seems like a good card. Was impressed by the card itself. the logo is very shinny. Looks pretty good. Pending transactions seem to show right away. Once posted rewards are shown right away. People I've talked to seem pretty nice. I'll review it at a later date more fully and give it a rating at that time.

Initial rating is 4/5. As missing preauthorized payment. Website is a bit confusing (i.e. couldn't find private messages very easily). 1.75% is good, first year free good, things post fast on site good, works in the field perfectly is good, 4% on purchases in other currencies is good and customer service has been good so far.

June 2, 2017
9:07 pm
moneyhelp
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User230 said
Initial rating is 4/5. As missing preauthorized payment. 

What do you mean missing preauthorized payment? You cannot set up preauthorized payments with this card?

June 2, 2017
9:19 pm
User230
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moneyhelp said

User230 said
Initial rating is 4/5. As missing preauthorized payment. 

What do you mean missing preauthorized payment? You cannot set up preauthorized payments with this card?  

It's when you pay the balance on the card automatically through a bank. Some call it pre-authorized payment. Others call it direct debit. There are lots of names for it.

What I think your talking about is setting up payments of things like utilities or monthly expenses. This card does that. Not the above though.

June 2, 2017
9:26 pm
moneyhelp
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User230 said

It's when you pay the balance on the card automatically through a bank. Some call it pre-authorized payment. Others call it direct debit. There are lots of names for it.

What I think your talking about is setting up payments of things like utilities or monthly expenses. This card does that. Not the above though.  

Yes, exactly, I meant setting up preathourized payments for cell phone, utilities, etc. Kind of glad, you had me worried there for a sec, because I'm planning on getting the FIDO MasterCard and I assume they are the same, but I did see they have some differences in features

June 2, 2017
9:41 pm
User230
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You should get the Rogers and get the first year free. You'll also get 70 straight, not separate like Fido (2 different things you need to do get the 70).

I got a 70 dollar bonus.

https://rogersbank.com/en/employee

It works for non employees as well, like me (it does not say specifically non employees cant use the link). Well you need a employee code for auto approved.

There is a offer below for 75 dollars if sign up in the store but I think there is a catch. It says

add an eligible 2-year Share EverythingTM plan

I think you need to purchase that plan to get the 75 in store. Anyways I'm happy with the 70 I got.

Offer ends July 5, 2017
For: New and existing customers
Earn cash back rewards you can redeem to lower your Rogers bill! Apply and get approved for the RogersTM Platinum Mastercard® and you’ll receive a welcome bonus of $75 in cash back rewards when you make your first card purchase within 3 months of receiving your card, and when you add an eligible 2-year Share EverythingTM plan!1
You'll also enjoy:
4% cash back rewards
Earn unlimited cash back rewards on all purchases in a foreign currency.2
1.75% cash back rewards
Earn unlimited cash back rewards on all Canadian purchases2, every day.
$29 annual fee waived for your first year
Plus, when a Rogers bill is set up as a pre-authorized payment, your annual fee will continue to be waived every year.3

http://www.rogers.com/consumer.....anguage=en

June 25, 2017
7:11 am
moneyhelp
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2 Questions:

1) Is anyone aware if there are any bonus offers when applying for the FIDO mastercard?

I am aware of the up to $50 cash back rewards when signing up, but I am seriously thinking of getting this card since Amazon VISA is not accepting new applicants, but I wanted to know if there are any other bonuses? Specifically referral bonuses?

NOTE: I'm not a FIDO customer and only thinking of getting this card for traveling purposes to avoid Fx fee (I know you're charged 2.5% fee, but netting 1.5% after the wash).

2) You need to have spent a minimum of $20 to qualify for the redeem rewards or statement credit, but does anyone know what would happen if in one particular year you only used, let's say, the card once and spent $10. Obviously this would not qualify you for the rewards or credit statement, but what happens to that $10 reward opportunity? Does it roll over the next calendar year that can be used or do you lose it?

Thanks!

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