The Rogers World Elite Mastercard stands out because it has a cash back rate of 1.75%, that’s one of the best rates in Canada!
In addition, there is no annual fee on this card and there’s a $25 sign up bonus so you can start earning while you spend right away. Card holders earn even more cash on foreign currency transactions. For every dollar spent in another currency, the card holder earns 4%.
The drawback is that you still have to pay foreign transaction fees at 2.5%, but you’re still earning 1.5% on the foreign currency transactions at the end of the day. Lastly, for every dollar spent on Rogers products, you’ll get 2% cash back.
There’s a recently added feature of this card as well. When you earn $20 in cash back rewards, you can redeem the balance and put it towards your credit card balance. If you want to use the cash for something else, you can redeem it whenever you’d like. Cardholders also get access to basic travel and purchase insurance in addition to invites to exclusive Mastercard events such as spa, retail and dining promotions.
All of the cash perks and other benefits of this card are amazing, but there is one disadvantage. In order to obtain this card, you need to earn $80,000 individually or $150,000 within your household. These are quite high salaries that most Canadians don’t earn making it out of reach to many.
Overall, the Rogers World Elite Mastercard is an excellent choice for individuals who incur a lot of foreign transactions either from travelling or purchasing products or services online. It is also favourable from the cash rewards aspect. If you meet the income requirements of this card, look into signing up today!