Rogers Bank Red Mastercard

[57]

Rogers Bank is making some changes to their (regular) Mastercard:

https://about.rogers.com/news-ideas/the-rogers-red-mastercard-will-now-offer-3-cash-back-value/

What is happening is that the "bonus" applied to rebates against Rogers Purchases is increasing from 30% to 50%, effectively increasing the 1% rebate to 1.5% and the 2% rebate to 3% when rebates are redeemed against Rogers purchases.  

For example, if you have $100 rebate amount and redeem it against a Rogers bill of $200, then you'll get $150 worth of rebate, effectively giving you 1.5% on most purchases and 3% on some purchases (this should show on the app when you redeem against a Rogers charge). Obviously you'll need enough in Rogers charges to "cover" the rebated amount, but that should be easy for anyone with "normal" Rogers charges.  (Before bonus, the rebate amounts are 1% for most purchases and 2% for US$ and Rogers purchases).

This "bonus" has been around for about a year and was a 30% bonus on regular Rogers MasterCard. The bonus doesn't apply to the World Elite card.

You also get 5 Roam Like Home Days if that matters to you.

Detailed comparilson link below, but the bonus still shows as 30% today instead of 50%.

https://rogersbank.com/en/compare_cards

[RogersJo]

Hello @57! 😊 

Thank you so much for your contributions to the Community! 🙌 We appreciate you bringing forth such helpful information and sharing your knowledge with us as a Resident Expert!

Cheers, 

RogersJo 

[57]

I see that there is a new link available today since the programme starts today.  See link below:

https://www.rogersbank.com/en/rogers_mastercard_details?utm_source=rogers.com&utm_medium=homepageban...

When I read this information it appears that after bonus, if you have Rogers Service charges, that you will get the equivalent of 3% rebate on all of your eligible purchases when redeemed against Rogers service charges.  I also tried the "Estimate your earnings" and it gave me the same rebate (3%).  However, if you click on the "Full Details" at the bottom of the page, Note 2, it is not clear (to me anyway).

If this card actually gives the equivalent of 3% for all purchases, then it is more valuable for rebates than the World Elite card, which makes no sense to me since the eligibility for World Elite card is much stricter.  The yearly difference in rebates for me would be quite large.  

[rsigal]

Has anyone been successful recently in downloading transactions from Rogers Mastercard to financial sorftware? If so, to which financial software? I have been using Mint for this, but Mint is being discontinued. I also use Quicken, but Rogers does not allow downloads in qfx format that Quicken uses. I looked into software to convert ofx files to qfx (Propersoft and Moneythumb) but their prices are too high (Propersoft $119 per year or $199 to purchase; the more reasonable shareware offers one finds on the web are not valid when one tries to activate them).

[57]

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@57 wrote:  If this card actually gives the equivalent of 3% for all purchases, then it is more valuable for rebates than the World Elite card, which makes no sense to me since the eligibility for World Elite card is much stricter.  The yearly difference in rebates for me would be quite large.  

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After extensive research, I switched to the regular Red Mastercard and it does give 3% for purchases redeemed against Rogers Bills. 

Since it didn't make sense to have the Red card be more valuable than the Elite, I see that Rogers Bank will update the Elite benefits in April.  See link below.

https://www.rogersbank.com/en/rogersredworldelitemc

I probably would have kept the Rogers Elite card if they had given it the same redemption credits when announced last year, but this did give me the impetus to get a WestJet World Elite card which gives me huge benefits since I fly with them and they had huge credits early this year.  WJ Elite provides the rental car insurance I need which was part of Rogers Elite, which I no longer have.