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Fido or Rogers Master card? Can't decide!
March 19, 2018
4:46 pm
Save2Retire@55
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I applied for Home Trust visa long time ago but from other's updates, I am not sure if I will be approved or receive it before end of April. Hence, deciding between Rogers / Fido. I know this has been a long debate and discussion but anyone can tell me if there is any difference between them specially after the proposed changes which will make Rogers free?

None provide things like car rental insurance which sucks but similar to Amazon.

March 19, 2018
5:43 pm
Jon
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If I were you, I will wait for credit card from Brim. This is due to the fact that it is not lowering its reward, it have travel insurance, it have free Wi-fi, and it is easier to redeemed the reward.

March 19, 2018
7:22 pm
Save2Retire@55
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Jon said
If I were you, I will wait for credit card from Brim. This is due to the fact that it is not lowering its reward, it have travel insurance, it have free Wi-fi, and it is easier to redeemed the reward.  

I would wait but we have a vacation coming end of April to the most expensive countries in the world (Scandinavia). I think our expenses would be around $10K at least. If I don't get a good card on time, I will end up using my MBNA or AMEX and 2.5% on $10K ($250) is not what I want to give as free money to the banks.

Also, I can cancel the Fido / Rogers if I get that approved. From Reddit, it seems most people with credit score over 800 are being rejected. So I am trying to lower it down 😀

March 19, 2018
10:10 pm
Rick
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Don't worry... right after you apply for either, your Home Trust card will show up. Don't use Rogers or Fido. If I recall correctly, when I was looking for a new card, they are pretty similar. Probably because Rogers owns Fido. Nice to see them extending the multi-brand model from cellular to credit cards, not. I think Fido was a little better with claiming rewards. Didn't Rogers have some silly requirement to call in every year to claim your rewards? That and the fact they aren't really ForEx fee-free. They charge 2.5% exchange the give you 3% cashback, which I think just dropped from 4%. Didn't fit my needs.

Why would a CC Co reject an application with a credit score of over 800?

March 20, 2018
7:55 am
Doug
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Save2Retire@55 said
I applied for Home Trust visa long time ago but from other's updates, I am not sure if I will be approved or receive it before end of April. Hence, deciding between Rogers / Fido. I know this has been a long debate and discussion but anyone can tell me if there is any difference between them specially after the proposed changes which will make Rogers free?

None provide things like car rental insurance which sucks but similar to Amazon.  

I would personally wait, just use a credit card with an FX fee if you don't get it by the end of April. They have a very small staff, I'm sure, and might be over-run in applications. I would strongly advise against going with Rogers or Fido's MasterCard, based on anecdotal reports on these forums, Loonie's comments (who has dealings with the Fido MasterCard), and recent changes to the cards.

Just "suck up" the FX fee for now. On a few hundred, or even a thousand, dollars in FX purchases in a month or two, it's not a significant amount.

Also, what you're asking is more of a personal preference and decision, I personally don't see a reason to keep this thread going. Peter, can we lock this thread in 48 hours (or less), to give everyone a "final post" opportunity and divert people to one of the two other Fido/Rogers MasterCard threads?

Cheers,
Doug

March 20, 2018
8:59 am
Loonie
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I have to agree with Doug. I don't think it's worth another hard check on your credit history so soon after applying for the first one, even if you are trying to lower your credit score to be more eligible. You don't know the full circumstances of the people who are reporting online. More than credit score can be involved in granting a card, such as how much credit they already have available vs income etc.

Bear in mind too that it's probably unlikely that any of them will give you a 10K credit limit at the beginning or even allow you to use all your credit in the first month! Warning bells might go off when you get to, say, 75%. They might put the brakes on at an inopportune time, so be prepared to use other card(s) as well.

March 20, 2018
10:00 am
gicjunkie
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Just got a call from a friend who has the Rogers MasterCard. Apparently, there is a new and improved card being offered to existing Rogers MC customers. See details from Rogers below:

"We are excited to announce that we will be launching a new premium credit card in May - the Rogers World Elite Mastercard. As a valued Rogers Platinum Mastercard cardholder, you are invited to be one of the first to take advantage of this new card! And the best part is, you're qualified to switch, with no credit check required. Accept your invitation to switch to the Rogers World Elite Mastercard before May 14, 2018.

Experience more cash back rewards PLUS insurance benefits

The Rogers World Elite Mastercard gives you access to our highest rate of cash back rewards, everywhere you shop - with no caps or hidden fees. Plus, there's no Annual Fee!
Earn 4% unlimited cash back on all your purchases made in a foreign currency
Earn 2% unlimited cash back rewards on Rogers products and services including your Rogers, Fido or chatr monthly bill1
Earn 1.75% unlimited cash back on all other purchases1
Enjoy insurance benefits at no extra cost, including: Extended Warranty and Purchase Protection, Rental Car Collision/Damage, Out-of-Province/Out-of-Country Emergency Medical, Trip Interruption and Trip Cancellation"

Apparently the old card will continue with some modifications.

March 20, 2018
12:29 pm
Doug
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Loonie said
... Bear in mind too that it's probably unlikely that any of them will give you a 10K credit limit at the beginning or even allow you to use all your credit in the first month! Warning bells might go off when you get to, say, 75%. They might put the brakes on at an inopportune time, so be prepared to use other card(s) as well.  

Yeah, I would take what they offer, or see what their maximum limit is before you apply. After you've had the card, and shown them that you've closed your existing card(s) with that limit, ask them for an increase. sf-cool

For what it's worth, Tangerine gave me a $16,000 credit limit with no income verification when I applied during their "beta" test in fall 2015. My income at the time? ~$30,000 gross per year. What does that tell you? 🙂

I keep it open, but don't use it anymore, to prevent my credit score from going down markedly as that would boost my credit utilization. Once I'm working again, though, thanks to Tangerine cutting the "other purchases" rate from 1% to 0.5%, I plan to close it after I'm approved for an American Express SimplyCash Card that offers 1.25% on all purchases. I've determined that's the best on the market with no annual fee. BlueSky Card offers 1.25%, but pays it out in "points" instead of "cash," think. 🙂

Cheers,
Doug

March 20, 2018
12:34 pm
Doug
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Still will have a 2.5% FX fee likely, which will likely go up to 3.5% when, mark my words, the banks all increase their FX fee to 3.5%. 🙂

Cheers,
Doug

March 20, 2018
1:00 pm
Wayno
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Save2Retire@55 said
I applied for Home Trust visa long time ago but from other's updates, I am not sure if I will be approved or receive it before end of April.   

I just called Home Trust ... two - 30 minute waits on their phone line to get through ...

They state there is a 6-8 week processing time because of the high demand created by the cancellation of the Amazon credit card.

Hopes this helps you!

regards,
Wayno sf-smile

March 20, 2018
3:57 pm
Doug
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Wayno said

I just called Home Trust ... two - 30 minute waits on their phone line to get through ...

They state there is a 6-8 week processing time because of the high demand created by the cancellation of the Amazon credit card.

Hopes this helps you!

regards,
Wayno sf-smile  

Thanks, Wayno, for enduring the hold times. sf-cool

Yeah, they probably only have a handful of staff in that department. I wouldn't fault HT either, Save2Retire. It would be unreasonable to expect them to instantly "staff up". 🙂

Cheers,
Doug

March 20, 2018
4:40 pm
Save2Retire@55
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Rick said
Don't worry... right after you apply for either, your Home Trust card will show up. Don't use Rogers or Fido. If I recall correctly, when I was looking for a new card, they are pretty similar. Probably because Rogers owns Fido. Nice to see them extending the multi-brand model from cellular to credit cards, not. I think Fido was a little better with claiming rewards. Didn't Rogers have some silly requirement to call in every year to claim your rewards? That and the fact they aren't really ForEx fee-free. They charge 2.5% exchange the give you 3% cashback, which I think just dropped from 4%. Didn't fit my needs.

Why would a CC Co reject an application with a credit score of over 800?  

Well, I mostly want it for things like restaurants, groceries, shopping, and maybe booking accommodations - All those are mostly won't be returned so I am not concerned about returning and paying double. Also, using them would be the last option but I want to have a back up and less stress.

For not approving, it is easy. Because they know they won't make any money out of those people with good scores as the balance is always paid off.

March 20, 2018
4:48 pm
Save2Retire@55
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Doug said

I would personally wait, just use a credit card with an FX fee if you don't get it by the end of April. They have a very small staff, I'm sure, and might be over-run in applications. I would strongly advise against going with Rogers or Fido's MasterCard, based on anecdotal reports on these forums, Loonie's comments (who has dealings with the Fido MasterCard), and recent changes to the cards.

Just "suck up" the FX fee for now. On a few hundred, or even a thousand, dollars in FX purchases in a month or two, it's not a significant amount.

Also, what you're asking is more of a personal preference and decision, I personally don't see a reason to keep this thread going. Peter, can we lock this thread in 48 hours (or less), to give everyone a "final post" opportunity and divert people to one of the two other Fido/Rogers MasterCard threads?

Cheers,
Doug  

Hello Doug,

1. I don't and won't! Hundreds matter to me (Sorry not a millionaire here and don't get money from anyone other than my job)!

2. What bad experiences am I missing? Do you have the link for what you are referring to? What is wrong with any of the cards except the 2.5% FX?

3. I respect your personal view but I don't like when you try to impose that view by asking Peter to lock up my thread. If you don't like to participate, I totally understand that.

Thanks

March 20, 2018
4:51 pm
Save2Retire@55
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Loonie said
I have to agree with Doug. I don't think it's worth another hard check on your credit history so soon after applying for the first one, even if you are trying to lower your credit score to be more eligible. You don't know the full circumstances of the people who are reporting online. More than credit score can be involved in granting a card, such as how much credit they already have available vs income etc.

Bear in mind too that it's probably unlikely that any of them will give you a 10K credit limit at the beginning or even allow you to use all your credit in the first month! Warning bells might go off when you get to, say, 75%. They might put the brakes on at an inopportune time, so be prepared to use other card(s) as well.  

I don't mind that hard check. It will lower the score to high 700s which is still fine and reasonable. Also, as you mentioned and others reported, I probably won't get a lot of credit. I have plans for that which is actually paying my credit card before even using it. So I will load it up with couple thousands beyond its limit to be on the safe side 🙂 I remember those days when my credit limit was $500 (Thanks Scotia Bank for being generous to me, Haha)!

March 20, 2018
4:54 pm
Save2Retire@55
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Wayno said

I just called Home Trust ... two - 30 minute waits on their phone line to get through ...

They state there is a 6-8 week processing time because of the high demand created by the cancellation of the Amazon credit card.

Hopes this helps you!

regards,
Wayno sf-smile  

This def helps me in applying for one of the other cards tonight! I might wait and call them tomorrow to see what date they are processing now. We will fly in 6 weeks! Thanks for the update 🙂

March 20, 2018
4:59 pm
Loonie
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I get it. I have seen some credit cards that didn't let you overpay, but you have undoubtedly checked into this. One of mine sends me a cheque in such circumstances!
I think too that if you keep an eye on it while overseas, you ought to be able to make payments on it remotely if needed as you go along - at least in theory.

Seems to me that Oaken customers should get priority in CC app processing at HT, but I'm sure it doesn't happen that way!
If they're saying six weeks plus just to process, that won't include the delivery time.

It's interesting how clearly you remember Scotia's generosity way back when. That sort of thing tends to stick in one's craw, indefinitely. Their loss.

March 20, 2018
6:22 pm
Wayno
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Save2Retire@55 said

This def helps me in applying for one of the other cards tonight! I might wait and call them tomorrow to see what date they are processing now. We will fly in 6 weeks! Thanks for the update 🙂  

They were not able to tell me where I was in the queue !
6-8 weeks is when it arrives by mail.
Regards,
Wayno

March 20, 2018
6:30 pm
Save2Retire@55
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Loonie said
Seems to me that Oaken customers should get priority in CC app processing at HT, but I'm sure it doesn't happen that way!
If they're saying six weeks plus just to process, that won't include the delivery time.

It's interesting how clearly you remember Scotia's generosity way back when. That sort of thing tends to stick in one's craw, indefinitely. Their loss.  

Yes, specially as I am opening couple accounts with them but it's what it is.

Scotia Bank - Funny how I hate this bank now but like Tangerine very much.
I didn't use Scotiabank until recently (last year), when I applied and got their Gold Amex. The only reason was for the 30,000 points + $75 Amazon gift card I received. I am now debating if I should cancel it or not as it has $99 / year 🙂 Will decide on that in May.

March 20, 2018
6:33 pm
Save2Retire@55
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Wayno said

They were not able to tell me where I was in the queue !
6-8 weeks is when it arrives by mail.
Regards,
Wayno  

Do you remember the date/week of your application submission? Mine was Feb 15th. It has been 5 weeks now. If 6 - 8 weeks from the time of sending in the application, then I should hear from them in 1 - 3 weeks. I can wait but will I risk not getting Fido / Rogers cards? No clue.

March 20, 2018
7:53 pm
Wayno
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Feb.13

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