Rogers Platinum Mastercard Overview | creditcardGenius


I’ve a love / hate relationship with my telecom supplier Rogers.

Love the providers. Hate the prices.

So if there's a manner I can get extra out of them – I'm open for enterprise.

Enter the Rogers Platinum Mastercard with the next important options:

  • 1% money again rewards on all purchases with no limits,
  • 3% money again on U.S. greenback purchases, and
  • no annual charge.

All Three of these advantages enchantment to me on a private stage, and they need to be of curiosity to you as effectively for those who journey to the U.S. and are in a position to cost your U.S. greenback spending on a bank card.

Contemplating its rivals within the flat money again rewards class providing greater than 1.25% rewards all cost annual charges within the $ 100 vary – the cardboard is a internet constructive from the beginning.

Limitless 1% money again offers fast worth

1% cashback is on par with what most no charge playing cards provide.

Contemplating its rivals within the money again rewards class providing greater than 1% rewards all cost annual charges within the $ 100 vary – the cardboard is a internet constructive from the beginning.

3% money again on U.S. greenback purchases

And that's earlier than you utilized it’s finest function:

The bump as much as 3% money again for purchases made in U.S. {dollars}.

Why does that matter?

Bank card holders are sometimes charged international transaction charges once they buy objects whereas abroad or once they make purchases that use an abroad financial institution to course of the transaction.

Typically that charge is between 2-3%. So consider it as an additional tax on each buy made out of the country. Ouch.

Now think about that charge for those who fall underneath any of those classes:

  • you're a snowbird wintering within the US,
  • an everyday cross border shopper, or
  • you make common on-line purchases from US distributors.

Think about spending $ 10,00Zero on any of those after which coming residence to an announcement displaying an extra 2.5% international transaction charge of $ 250 on these purchases…

… and figuring out the fees successfully wipe out no matter rewards you have been incomes after which some.

Double ouch.

That's the place the three% U.S. greenback money again bump comes into play.

Rogers presents 3% money again on U.S. greenback purchases, however like nearly all different main bank card suppliers it costs 2.5% in international transaction charges. The online money again charge is subsequently:

3% cashback – 2.5% international change charges = 0.5% in money again rewards to you.

A internet constructive even after accounting for the international change charges.

All of a sudden that $ 10,00Zero U.S. trip simply netted you $ 50 in rewards as an alternative of $ 250 in additional charges – a reversal of $ 300.

In impact, the three% waives the international transaction charges outright on USD purchases.

In truth, it's cheaper than exchanging cash at a financial institution or making money withdrawals at a U.S. ATM.

Must change cash? That's a 2-3% charge.

Want a money withdrawal? One other 2-3%.

No thanks.

Pay together with your Rogers Platinum Mastercard and earn some rewards as an alternative.

Rewards based mostly on spending

Your international foreign money spending will decide whether or not this card is a real winner to your private state of affairs.

Try the desk under to get a really feel for a way you is likely to be rewarded at completely different spending ranges.

Home spend 1% rewards USD spend 0.50% rewards Complete spend Complete rewards
$ 12,000.00 $ 120.00 $ 0.00 $ 0.00 $ 12,000.00 $ 120.00
$ 12,000.00 $ 120.00 $ 1,000.00 $ 5.00 $ 13,000.00 $ 125.00
$ 12,000.00 $ 120.00 $ 6,000.00 $ 30.00 $ 18,000.00 $ 150.00
$ 12,000.00 $ 120.00 $ 12,000.00 $ 60.00 $ 24,000.00 $ 180.00
$ 24,000.00 $ 240.00 $ 0.00 $ 0.00 $ 24,000.00 $ 240.00
$ 24,000.00 $ 240.00 $ 2,000.00 $ 10.00 $ 26,000.00 $ 250.00
$ 24,000.00 $ 240.00 $ 12,000.00 $ 60.00 $ 36,000.00 $ 300.00
$ 24,000.00 $ 240.00 $ 24,000.00 $ 120.00 $ 48,000.00 $ 360.00

At a base stage, for those who're solely utilizing the cardboard domestically and charging $ 1,00Zero a month on it ($ 12,00Zero yearly), you’d be rewarded on the 1% money again stage and earn $ 120 for the 12 months.

Preserve the home spending at $ 12,00Zero yearly and add $ 6,00Zero in USD purchases – and you’d be rewarded with $ 150 in money again rewards and waive paying $ 150 in international transaction charges.

$ 6,000 * 2.5% charges = $ 150

On the different finish of the spectrum, for those who're a heavier spender and had motive to cost $ 2,00Zero a month or $ 24,00Zero yearly on every home and USD purchases – you may be incomes an extra $ 360 per 12 months – and that's after making an allowance for the international change charges you can be paying.

3% money again minus 2.5% charges = 0.5% rewards

No annual charge!

The third noteworthy function of the Rogers Platinum card that there isn’t a annual charge.

These rewards earned above are yours in full and never clawed again yearly.

I’ve to confess – that’s most likely the function I preferred finest as I earned sufficient factors to waive my Rogers web costs for nearly 5 months!

So what's the draw back?

The massive draw back? The bonus earnings on international change purchases are restricted to U.S. greenback purchases. Some other foreign money, and also you’ll solely be incomes 1% money again, which suggests you’ll be dropping 1.5%.

To save lots of on international change charges on all currencies, listed here are a couple of different no charge playing cards you’ll be able to think about.

In abstract

The Rogers Platinum Mastercard has nice earn charges for no charge.

However it's removed from the perfect no charge card.

To view extra of them, you’ll find them right here and see if there’s one thing else to your liking.