The Rogers World Elite Mastercard is a solid choice for anyone looking for simplicity: one card for all purchases with no annual fee and a high cash back rate. It’s also a good back-up Mastercard for merchants that don’t accept American Express.
Bonuses & Fees
New cardholders are eligible for a $25 welcome bonus after making their first purchase.
The card has no annual fee, a rare feature for a World Elite card. However, cardholders are asked to spend at least $15,000 per year, otherwise they might be downgraded to a lower tier credit card with weaker benefits.
The card has a straightforward rewards structure: earn 1.5% cash back on all purchases.
There are no category bonuses. Instead, the card’s strength is its high base earn rate. This is useful for uncategorized purchases, if your other cards have high category bonuses but low base rates.
The card also earns 3% cash back on purchases in US dollars. However, the card does charge a 2.5% fee for transactions in foreign currencies, for a net gain of 0.5%.
Unfortunately, the card no longer earns accelerated rewards on other currencies. With 1.5% cash back against the foreign transaction fee, a net loss of 1% is still better than most credit cards, although you can eliminate this fee entirely with other cards.
The foreign transaction fee is levied on purchases, and also on refunds. In case you have to make a return, you’d get dinged twice for a total 5% fee, with no cash back to show for it. For purchases in foreign currencies that you expect you might need to return, it would be better to use a true no foreign transaction fee card to get back the full price of your initial purchase, give or take any foreign exchange fluctuations.
Cash back can be redeemed in the mobile app, for a minimum of $10 at a time. You can redeem against past or future purchases.
Perks & Benefits
The card comes with a few standard Mastercard World Elite perks for travellers. Cardholders get a LoungeKey membership for access to airport lounges, although you still have to pay per visit. You’ll also be able to enrol for free in-flight Wi-Fi with Boingo.
The Rogers World Elite Mastercard provides a handful of useful insurance benefits.
The emergency medical assistance only covers trips up to 10 days for most cardholders. However, it also provides coverage for trips up to 3 days for cardholders aged 66 to 75. This would be valuable for weekend getaways for seniors, who usually aren’t covered at all by credit card insurance.
Insurance benefits cover the primary cardholder, their spouse and dependent children. Additional cardholders are also insured, although their spouse and children are not.