Rogers Platinum MasterCard Review

Rogers Platinum

Rogers Platinum MasterCard

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Rogers Platinum MasterCard Review
9 / 10 Our Vote
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Pros
4% cash back for foreign currency transactions
1.75% for all purchases
Welcome bonus
Cons
Statement credit only once per year
No travel or purchase insurance
Summary

The Canadian market has credit cards to suit your needs as per your spending habits. You may like cards that give you maximum returns when you shop in and out of Canada. There are not many cards that may give you reasonable cash back rewards on foreign currency transactions. The Rogers Platinum MasterCard gives you the highest returns on foreign transactions at 4% when you travel abroad or purchase online. All other purchases would still earn you 1.75% cash back which is still a better deal than most other cards.

The rewards that you earn on this card can be used to redeem for Rogers products and Rogers customers may rejoice. Or you may ask for a statement credit once a year. So, it is very easy to redeem if you need tickets for your Toronto Blue Jays game or shop at The Shopping Channel and much more. Since the first year annual fee is waived, that is a good reason for you to try out this card as there is nothing to lose.

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Our Review on Rogers Platinum MasterCard

Rogers Platinum MasterCard Pros

As a Rogers Platinum MasterCard member, you do enjoy few perks that come with their cash back rewards card.

  • Very few cards give 4% cash back rewards for foreign currency transactions. The only other card is the Fido MasterCard.This also includes your online purchases made on international websites too. And, also your purchases made abroad counts towards the 4% rate. Other cards charge around 2.5% to 3% foreign currency conversion fee whereas this card gives you 4% rewards and charges a 2.5% fee. That is a 1.5% gain for you on all those foreign transactions.
  • They give you 1.75% rewards on all other types of purchase which is also a better deal than some other cards. Since there is no limit on how much cash back you may earn, this beats most other cards in the market that hardly give a 1% return.
  • They give you around $54 as welcome bonus since the first year annual fee is waived. You also earn cash back of $25 after you use the card for the first time. This annual fee is waived every year as long as you pre-authorize this card for your Rogers subscription for the whole year.  The additional cards come for no fee and you may earn more rewards with more users.  Even if you are not a Rogers customer, the annual fee of $29 is a fair deal compared to other cards with higher fees and lower returns.
  • If you are a Rogers customer then this card will suit you better as you may redeem your rewards for your phone bills and subscription. You may redeem as low as $20 cash back.

Rogers Platinum MasterCard Cons

The Rogers Platinum MasterCard has some drawbacks as follows.

  • You may request a statement credit only once per year and not whenever you may need to redeem. To request for this credit you may have to call them at the end of each year.
  • If you do not make a lot of purchases outside Canada or online for foreign products then you may be stuck with just the 1.75% cash back rate.
  • This card does not have any promotions for low rates on balance transfers or cash advances.
  • There are no travel or purchase insurance features on this card.

Rogers Platinum MasterCard Overview

Annual Fee$0
Interest Rate (APR)19.99% on purchases
Balance Transfer22.99%
Cash Advance22.99%
Foreign Currency Conversion Fee2.5%
Credit ScoreGood
Otheronly optional insurance

Our Review on Rogers Platinum MasterCard Features and Benefits

Some of the main features of the Rogers Platinum MasterCard are as follows.

Annual Fee

This card comes with an annual fee of $29 for the primary card that is waived in the first year.  If you are set up on preauthorized payments with Rogers with this card for the whole year then you do not pay an annual fee. There is no annual fee for supplementary cards. If you are Rogers customer then you save the annual fee and also get the most options for your spending.

Interest Rate

The annual interest rate for purchase on this card is 19.99% which is as per market rate. In case you miss your minimum payments twice in a year then your APR increases to 25.99%. There are other cards with lower rates for purchase. If you qualify for one of them then that may benefit you if you are in the habit of carrying balances every month and don’t pay them off.

Balance Transfer

They do not have any promotional offers on balance transfers to this card and the interest rate is 21.50%. You may find other cards in the market with promotions of 0% to 1.99% rates. On the other end, you may also find some cards with an interest rate of 22.99% for balance transfers. So, if you were carrying a balance on one of those cards then you may want to transfer that balance to this card. If you miss 2 minimum payments then this rate increases to 27.99%.

Cash Advance

For cash advances on this card they charge an interest rate of 21.50% and a fee of at least $3.50. If you happen to miss your minimum payments 2 times in a year then this rate goes up to 27.99% and this quite high. You may not want to pay an interest rate that high and is best to keep track of your payments.

Foreign Currency Conversion Fees

All your foreign currency transactions with this card will be converted to Canadian dollars. They charge a conversion fee of 2.5% however, this is offset by the 4% cash back rewards you get on foreign purchases. That gives you a net gain of 1.5% when you use this card and is a huge plus when you compare with other cards that charge 2.5% and hardly give 1% cash back.

Credit Score Rating

You may qualify for this card with a good credit rating score and do not require an excellent rating. In case you are Rogers customer then you stand to benefit from rewards more and is also easy to qualify for this card.

Rewards

This card gives you 4% rewards for all foreign currency transactions whether you travel abroad or you purchase international products online. This is the richest cash back rate for foreign expenses using a credit card. All other purchases earn you 1.75% cash back rewards which still is a good deal as there are cards with lower returns.

Rogers Platinum MasterCard Cash Back Calculator

CategoryRewards
Total Spending Rewards$420
Groceries:$400
Gas:$300
Restaurants:$200
Bills:$500
Travel:$150
Entertainment:$200
Pharmacy:$0
Everything else:$250

Insurance Features Of Rogers Platinum MasterCard

The Rogers Platinum MasterCard does not have travel or purchase insurance. However, you may purchase additional coverage for more protection such as the Group Balance Protection Insurance.

Where Can You Use Rogers Platinum MasterCard

You may use this card at all payment terminals and merchant locations that accept MasterCard. This card also has the contactless tap and go feature for secure and faster payments.

Rogers Platinum MasterCard Reward Redemption

You may redeem your cash back balance for as low as $20 with this card. The rewards on this card can be used to pay for your Fido, Rogers or Chatr phone monthly bills. And you may shop at The Shopping Channel, at any Fido or Rogers stores or redeem online. You may redeem for merchandise and tickets for Toronto Blue Jays and food concessions at Rogers Center. Subscriptions for Texture can also be redeemed using these rewards. If you wish to request a statement credit then you may do so by calling at the end of each year. Or you may just log on online and redeem your rewards.

Rogers Platinum MasterCard Contact Information

  • Customer Service Number: 1855 775 2265 or 1705 522 2265.

Information about rates and product may change at any time. This review does not constitute financial advice in any form. You may get in touch with the supplier for complete details.

Rogers is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.


Resources:

https://www.rogersbank.com/en/card_details/rogers_platinum_mastercard?utm_source=OZ1A01


 

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