Fido or Rogers Master card? Can't decide! | Page 2 | Your stories | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

This topic is locked No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
Fido or Rogers Master card? Can't decide!
March 20, 2018
8:13 pm
Save2Retire@55
Member
Members
Forum Posts: 599
Member Since:
January 3, 2013
sp_UserOfflineSmall Offline

Wayno said
Feb.13  

Please message me if you hear from them and I'll do the same 🙂

March 20, 2018
8:19 pm
Joe
Member
Members
Forum Posts: 186
Member Since:
June 3, 2015
sp_UserOfflineSmall Offline

Doug said

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  

If you don't like the post don't read it.

Tangerine....Canada's best bank.
LBC.............Canada's 2nd best bank.

March 21, 2018
12:55 am
Top It Up
Member
Members (temp break)
Forum Posts: 1363
Member Since:
December 17, 2016
sp_UserOfflineSmall Offline

Save2Retire@55 said

I would wait but we have a vacation coming end of April to the most expensive countries in the world (Scandinavia).  

You got that right - I was just in Denmark, travelling solo for 5 days, averaging $435 (DKK1,975) per day lodging, meals, etc.

March 21, 2018
2:28 am
Loonie
Member
Members
Forum Posts: 5792
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Save2Retire@55 said

I can wait but will I risk not getting Fido / Rogers cards? No clue.  

It wasn't that long ago that we applied for the Rogers card. I am guessing it took maybe 3 weeks for the cards to come, from application. And, now that they've lowered their return, things should be moving even faster there. I think you still have time, at least until the end of the month. As Rick suggested, they could arrive at about the same time.sf-confused

March 21, 2018
7:01 am
gicjunkie
Ontario
Member
Members
Forum Posts: 337
Member Since:
November 7, 2014
sp_UserOfflineSmall Offline

FYI: I know 2 people who actually got their Home Trust credit cards back in January and the credit limits given were very low. One was $2000 and the other was $3000. Both of these people have other credit cards with much higher limits, and deservedly so. If you are waiting for the HT card in anticipation of a long and expensive trip, this card may not provide enough credit, unless of course you could call and convince them to raise the limit. Good luck.

March 21, 2018
9:41 am
Rick
Member
Members
Forum Posts: 863
Member Since:
February 17, 2013
sp_UserOfflineSmall Offline

Mine arrived with a 7K limit, which is ok with me. If the limit isn't enough, I would call them up, explain the situation, and request an increase. You should give them advance notice of your travel plans anyway. Sux having your card frozen for suspicious activity when your thousands of miles form home.

March 21, 2018
9:54 am
Rick
Member
Members
Forum Posts: 863
Member Since:
February 17, 2013
sp_UserOfflineSmall Offline

Save2Retire@55 said
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.  

I would never have thought of that. My score was 819 when I applied. The percentage they take from each transaction isn't enough? Would think that the possibility of bankruptcy and default would have a bigger impact on whether or not to grant credit.

My first card ever was Sears with a 500 dollar limit. I was always grateful they were the ones to give me my first chance on building a credit rating.

March 21, 2018
10:28 am
Wayno
Member
Members
Forum Posts: 67
Member Since:
January 10, 2018
sp_UserOfflineSmall Offline

Save2Retire@55 said

Please message me if you hear from them and I'll do the same 🙂  

Will do !

March 21, 2018
11:27 am
Peseta
Member
Members
Forum Posts: 58
Member Since:
May 3, 2015
sp_UserOfflineSmall Offline

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 have been using Fido MasterCard since last summer and I am quite happy with them. It doesn't offer any bells and whistles, but I needed a card to save me money on FX and at that time it was the only option available on the market.

As you may know, Fido charges you 2.5% FX but then gives you back 4% on your foreign purchases (soon to be 3%), which at the end of the day saves you FX and gives you some cash back.

If you want to redeem your rewards as cash, you have to call them at some point before December 1, and cash credit will be issued to your statement in January.

If you are spending about 10K on your credit card in foreign currencies, your savings with any type of no-FX card would be substantial.

Why don't you apply for Fido MasterCard and if your Home Trust comes along before you go away, then use Home Trust (because it gives you direct savings without having to wait for cash back). Otherwise you'll at least have your Fido card as a back up.

March 21, 2018
2:58 pm
Doug
British Columbia, Canada
Member
Members
Forum Posts: 3120
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

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.  

They're handled by totally different divisions of Home Trust, like Scotia Dealer Advantage auto loans originated through auto dealer partners Scotia Plan automobile loans originated through branches and mobile banking/credit specialists. So, it's really quite different.

Cheers,
Doug

March 21, 2018
3:01 pm
Doug
British Columbia, Canada
Member
Members
Forum Posts: 3120
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

I respect Save2Retire's personal decision-making ability, absolutely. However, since he's really just seeking opinions on a highly personal decision and given the time-sensitive nature, I would strongly urge this thread to be locked forthwith (i.e., let's say by the weekend coming up). Peter has a strong preference to have one thread on a given topic and we already have an active Fido/Rogers MasterCard thread. By this weekend, Save2Retire will have been provided with all needed opinions. Further opinions could be provided privately, where it should continue, as this thread provides less informational benefits than the other thread. 🙂

Cheers,
Doug

March 21, 2018
6:08 pm
Save2Retire@55
Member
Members
Forum Posts: 599
Member Since:
January 3, 2013
sp_UserOfflineSmall Offline

Doug said
I respect Save2Retire's personal decision-making ability, absolutely. However, since he's really just seeking opinions on a highly personal decision and given the time-sensitive nature, I would strongly urge this thread to be locked forthwith (i.e., let's say by the weekend coming up). Peter has a strong preference to have one thread on a given topic and we already have an active Fido/Rogers MasterCard thread. By this weekend, Save2Retire will have been provided with all needed opinions. Further opinions could be provided privately, where it should continue, as this thread provides less informational benefits than the other thread. 🙂

Cheers,
Doug  

Oh God! I am so glad you don't run this forum! Still insisting on getting my thread locked. Just say sorry and move on.

March 21, 2018
6:10 pm
Save2Retire@55
Member
Members
Forum Posts: 599
Member Since:
January 3, 2013
sp_UserOfflineSmall Offline

Rick said
Mine arrived with a 7K limit, which is ok with me. If the limit isn't enough, I would call them up, explain the situation, and request an increase. You should give them advance notice of your travel plans anyway. Sux having your card frozen for suspicious activity when your thousands of miles form home.  

I think this is the highest limit I have seen so far from them. Today, I logged in my Amex and they are offering me an increase from $5K to $7.5K. I didn't accept it yet as I am still hoping to get Home Trust or Fido.

March 21, 2018
6:11 pm
Save2Retire@55
Member
Members
Forum Posts: 599
Member Since:
January 3, 2013
sp_UserOfflineSmall Offline

Peseta said

If you are spending about 10K on your credit card in foreign currencies, your savings with any type of no-FX card would be substantial.

Why don't you apply for Fido MasterCard and if your Home Trust comes along before you go away, then use Home Trust (because it gives you direct savings without having to wait for cash back). Otherwise you'll at least have your Fido card as a back up.  

I think, I will wait till end of this week or maybe early next week and if no news, just apply for Fido.

March 21, 2018
6:12 pm
Save2Retire@55
Member
Members
Forum Posts: 599
Member Since:
January 3, 2013
sp_UserOfflineSmall Offline

gicjunkie said
FYI: I know 2 people who actually got their Home Trust credit cards back in January and the credit limits given were very low. One was $2000 and the other was $3000. Both of these people have other credit cards with much higher limits, and deservedly so. If you are waiting for the HT card in anticipation of a long and expensive trip, this card may not provide enough credit, unless of course you could call and convince them to raise the limit. Good luck.  

I am aware that it might even come with $1K limit LOL. I thought that I can load it (prepay if they allow) with let's say $8K - $10K and also call them to avoid problems. Thanks for the heads up though

March 21, 2018
8:16 pm
John Wayne (Marion)
Member
Members
Forum Posts: 79
Member Since:
March 21, 2018
sp_UserOfflineSmall Offline

My experience with Home Trust Visa. They seem to be a bit loosey goosey. It took about a month for the cards to arrive. Oddly enough before they arrived they sent me an email saying I could use the card for auto payments. So that was the only inkling that we had cards on the way. I received my PIN number and the card a few days later although my wife received both on same day. So their delayed mailing of the card vs PIN number failed. So both cards have the same account number on them. No other account that we have with a supplementary member has the same number. All our other supplementary cards have a different number so if one card goes out of commission you still have one left to use. A great feature if you only carried one card while on vacation. So I called the 800 number and confirmed my card and the message was....both cards are now activated. hmmm the second card and PIN number were still in the mail....and now activated!!! So eventually I called the 800 number and am talking to some dim wit in the southern states. I asked why did both cards have the same number....because they are both on the same account was the response. So I explained how all of our other supplementary cards had different numbers and how convenient that can be in certain situations, which was like taking to a telephone pole so I said forget it but please tell me if I can change my pin number. Yes....call this number. So a week or so later I call the other number which is in Canada and I waited for over an hour just to ask if I could change my pin.....no was the response. So the left hand does not know what the right hand is doing!! But was mentioned that in the next months they hope to have that in place as almost every one is asking for it. Duh...good decision!! So I asked if I may have called some one in the US and the answer was likely yes as after hours in Canada they contract another company that handles calls for three credit card companies ...thus the wrong answer about being able to change a PIN number. Also please note their cards do not have the "tap" feature either.

March 21, 2018
8:49 pm
Joe
Member
Members
Forum Posts: 186
Member Since:
June 3, 2015
sp_UserOfflineSmall Offline

Doug...why don't you just ignore the thread....what is it with you?

Tangerine....Canada's best bank.
LBC.............Canada's 2nd best bank.

March 21, 2018
9:56 pm
Norman1
Member
Members
Forum Posts: 2778
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

Rick said

…The percentage they take from each transaction isn't enough? Would think that the possibility of bankruptcy and default would have a bigger impact on whether or not to grant credit.

The interchange paid to the Visa card issuer is not that much.

For an electronic card-is-present transaction, it is 1.42% in Canada for the Classic, Gold, and Platinum Visa cards.

There is a special Visa Canada program for grocery and food retailers that drops it to 1.23%. The special program for gas stations drops it to 1.18%.

The "Emerging Segments" program drops it to 0.98%. The program includes charities and utilities.

March 21, 2018
10:48 pm
Loonie
Member
Members
Forum Posts: 5792
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Rick said
You should give them advance notice of your travel plans anyway. Sux having your card frozen for suspicious activity when your thousands of miles form home.  

I read somewhere recently that it is no longer necessary to notify CC issuers of one's travel plans as they now have another way of knowing if you've left home. I just can't remember what the new way was. In the past, I've always found that it was a good idea to tell them.
Do any of you experienced travellers have any knowledge of this?

March 21, 2018
11:06 pm
Norman1
Member
Members
Forum Posts: 2778
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

It depends on the credit card issuer.

BMO Bank of Montreal no longer requires or accepts travel notifications for their credit cards. PC Financial still does.

The issuers can tell if the card is on a trip. I don't think they can if the card is on the trip with its rightful owner, though.

This topic is locked No permission to create posts

Please write your comments in the forum.