Question about Rogers Mastercard

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I'm a Trusted Contributor
Posts: 766

Re: Question about Rogers Mastercard

Thanks for the info RogersMaude but I have zero interest in a Rogers Mastercard after  past experiences with Rogers ... I was just curious what the interest rate was , but it seems to be hidden away pretty well.   Smiley Indifferent

Rogers Employee ShakTiburon
Rogers Employee
Posts: 992

Re: Question about Rogers Mastercard

Hi ^__^

I don't think are hidden at all!
All creditcard websites have a legal section:
For example:
https://www.rogersbank.com/en/legal

It links to all information. Including your interest rates.

"legal" link was in every single page that I visited on rogers bank website as it was footer menu as per the site format.

"Disclosure" pdf file tells you the main points. It's also on rogers bank broucher when they first came out with it (I don't know if Rogers store still have them).

Eitherway, that is what I read through for Interest rates before I applied for mine.

Hope this helps @barndoor 🙂
I'm a Senior Advisor
Posts: 3,566

Re: Question about Rogers Mastercard

@barndoor, whatever the interest rate is, you can be sure it's very high and just barely legal. All credit cards are pretty much the same. Just pay off the balanve every month and don't worry about it.


SA8300HD, SA8300SD, DTA50, LG-E410B PayGo. Location: S-W Ontario
Resident Expert
Resident Expert
Posts: 14,074

Re: Question about Rogers Mastercard

Thats pretty true Oldyellr.

Credit cards, bank on you carying a ballance.
Only way to really use them, is to pay off the ballance every month.

I am trying to only use mine when absolutely needed.

Silly in the past, i got conned into upgrading my creditcard from what it was originally. 
No fees! Well thats still good.  Some bonus points, extra stuff like a CAA type thing, etc... great!.

Oh wait.... it TRIPPLED my interest rate.

Back to the most BASIC visa card

 

 

---------

 

 

Took a look through the docs.

Looks to be about 19.9%... which is about on average with most of the 'points' type cards i have seen.. no different than the banks, etc (though i have seen some with 25-30%)

My basic one, is at just over 12%



I'm a Senior Advisor
Posts: 3,566

Re: Question about Rogers Mastercard

@Gdkitty, tripling your interest rate should not matter if you always pay off the balance. But, yes, we occasionally slip up and miss a bill by accident and that hefty interest charge really smarts.


SA8300HD, SA8300SD, DTA50, LG-E410B PayGo. Location: S-W Ontario
Rogers Employee ShakTiburon
Rogers Employee
Posts: 992

Re: Question about Rogers Mastercard

The world runs on interests. LOL
I'm a Senior Advisor
Posts: 3,566

Re: Question about Rogers Mastercard


@ShakTib wrote:
The world runs on interests. LOL

In the case of Ontario, for sure! But Greece gets a better deal. Smiley Mad


SA8300HD, SA8300SD, DTA50, LG-E410B PayGo. Location: S-W Ontario
Rogers Employee ShakTiburon
Rogers Employee
Posts: 992

Re: Question about Rogers Mastercard

>___<" I shall not speak of Greece. Their financial situation is very shaky and I don't understand it.

I'm a Trusted Contributor
Posts: 766

Re: Question about Rogers Mastercard

Shak Tib posted  "
I don't think are hidden at all!
All creditcard websites have a legal section: "

 

Yes they do.... but they generally put legal stuff  in the" legal" section and post the interest rate under" terms and conditions" . Even Rogers in their Qand A section say it can be found under" terms and conditions" ... then they put it in the disclosure section. Others use a direct link from the page but Rogers uses an indirect link.

 

And you wonder why some of us have trust issues ?

 

I agree Old Yeller pay it off and it doesn't really matter how much the interest is  ... unfortunately it is likely those that can least afford  to pay it that do.

 

 

 

 

 

 

Rogers Employee ShakTiburon
Rogers Employee
Posts: 992

Re: Question about Rogers Mastercard

There is no regulated standardized on what information goes where and how it is titled.
Terms and conditions IS a disclosure. so a Disclosure can be a Disclosure as well. Legal section is a Disclosure. Please understand how Disclosure works.
Just because it becomes common practice for some companies, doesn't mean it is actually regulated that way.
You may be used to the legal section a certain way but it isn't normal or standardized.

Even though as you can tell I am a Rogers Employee. Know this, I have no affliation with Rogers Bank, I don't even know how they work - except only by research and as a consumer. (I work in a complete different department)
As a consumer, I went to the site looked for the interest Rate within less than 30 seconds... because you asked for it. - Not hidden at all 😉