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Rogers Platinum MasterCard Thoughts
12 Mar 2019

Our Thoughts On The Rogers Platinum MasterCard

The Rogers Platinum MasterCard is a low-key player in the Canadian credit market that nevertheless has as much to offer as many comparable offerings from big-name banks. This particular card has changed a lot in the very recent past, so now is a better time than ever to contemplate applying for it.

The Specifics on the Reward System

The Rogers Platinum MasterCard is a cash back credit card with no annual fee and for being a free card, it offers excellent reward value. The base rate for rewards is a comfortable 1.25%, quite a bit higher than most free cards will offer you. Even better than that, you have the chance to increase it to an even more favourable rate through bonus categories. You can bump it up to 2% when you use your card to buy any Rogers products or services, including paying your monthly telecom bills. The best is yet to come, though. You’ll get the very best rewards when you buy items in foreign currency – a full 3% cash back, which is an incredible rate for a free card. Since MasterCard is accepted in more than 210 countries worldwide and most online vendors as well, you should have no trouble using it in this capacity when you have the opportunity. Foreign transactions fees still apply, but this cash back bonus completely offsets them and allows you to shop with impunity in other currencies.

The Old Problems With This Card

For a long time, this card was extremely difficult to evaluate fairly due to the way in which its advertised intentions contradicted its present reality. If you could always have used the currency as cash in any instance where you can pay with MasterCard, as Rogers had always stated that they intended to do eventually, the rates at which you earn it would have been nothing short of excellent. There are very few cards, even among those with an annual fee, that allow you to earn 3% cash back on anything. That elevated a rate is rare even when dealing strictly with reward points with limited uses.

However, at the time, all you could actually use that cash on was your Rogers bill or select products from companies or sports teams (the Toronto Blue Jays) that were also owned by Rogers. This limitation reduced the card’s appeal quite a bit, since you basically had no choice but to be a Rogers customer if you wanted to use it. That might not be a very surprising turn of events given that this is the case for many branded cards, but with more and more people doing everything they can to cut out cable and other telecom expenses whenever possible, those rewards were worth less and less to more and more people every day.

The Reward Changes Are Here

As we’ve mentioned, the old version of this card held a lot of promise but was more deceitful than anything. Thankfully, though, Rogers has finally worked things out with MasterCard and the cash back that you earn can indeed be used as intended wherever that payment method is accepted. You have to do it in a slightly roundabout way by applying the rewards you’ve earned as credits to any purchase you’ve already made with your card in the past 90 days, but there’s a convenient app ready to help you do it at any time and with no hold-ups, so it’s barely an inconvenience at all.

The result of all of this is that the rewards now truly function like the cash back rewards we were all expecting. This change makes the reward rates this card offers immensely more appealing. The bonus categories aren’t quite as favourable as those of some cards (gas and groceries are always the best ones, especially on entry-level cards like this), but the rates attached to them are high enough to make up for the lower number of opportunities to score those bonuses. Plus, many people spend quite a bit on their Rogers bills each month, so for some, the rewards will add up quickly with very little effort if they just set up those bills on an auto-pay schedule. The foreign transaction rewards might be a little harder to come by, but they’ll be substantial when you do get them.

The Drawback of Poor Benefits

It’s not all good news with this card, though; the benefits also deserve some consideration if you’re thinking about getting it. Astoundingly, there are absolutely none to talk about whatsoever. You can purchase some balance protection for your card to help you keep up with payments in the event of a sudden injury, job loss or other uncontrollable event that would have a significant impact on your income, but that’s it – and like we just said, you have to purchase this coverage as it does not actually come free with the card.

This would be a worse problem if this wasn’t a free card, but even with that lack of opportunity cost, you can find other free cards that will get you things like rental car coverage or mobile device insurance just for having them. If that really does bother you, though, there’s no reason why you can’t just double up this card with one of those other ones and enjoy the rewards value of this one with the benefits of the others. It’s more of a hassle than is ideal, but it’s a strategy that will work to achieve that goal.

Summing Up the Rogers Platinum MasterCard

The Rogers Platinum MasterCard was a very different prospect just a few months ago, but now it’s not hard to see that it has many strong points and relatievly few downsides. If you’re still not sure, though, run it through our online portal and see how it stacks up against other cards like it. When you’re done, you can apply right there, saving you tons of time and hassle.