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The Rogers Platinum Mastercard flaunts a 1.25% cash back rewards rate. Cardholders earn cash back on all purchases, there are no limits or category restrictions. When customers spend on Rogers products and services, they earn 2% cash back. Complementary to the cash back rewards rates, there is no fee for this card. That means this is one of the highest earning cash back and free credit cards in Canada!
Rogers also offers 3% cash back rewards on foreign purchases. This is a rather unique offer because Rogers is subsidizing foreign transactions of their customers. Most credit card companies charge 2.5% in foreign transaction fees with a 2% cash back rate. This equates to a 0.5% loss, but with Rogers the 3% cash back rate gives you a 0.5% gain. For travelling and foreign currency purchases, the Rogers Platinum Mastercard is one of the cheapest ways to spend!
The actual redemption of your rewards is restrictive with this credit card. Rewards can be redeemed for a statement credit or put towards a product or service from Rogers, they cannot be redeemed in cold hard cash. In addition, you also need to have accrued $20 in cash back rewards in order to redeem.
If this card interests you, Rogers will give you a welcome bonus of $25 when you sign up. The only requirement for the welcome bonus is you need to make a purchase within three months of owning the card. That’s an easy way to make $25!
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).