Rogers World Elite MasterCard Review

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Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The Rogers World Elite MasterCard has earned a 4.55 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

The highest scoring categories for the Rogers World Elite MasterCard are fees and rewards.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the Rogers World Elite MasterCard the most important factors for scoring this card are its fees and rewards.

Rewards

With the Rogers World Elite MasterCard, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Calculating your annual rewards

We estimate that spending $2,000 per month with the Rogers World Elite MasterCard would earn $480 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

Our study investigating the value found that each dollar spent on the Rogers World Elite MasterCard is worth up to $0.00, depending on how you redeem.

This $480 in rewards value puts the Rogers World Elite MasterCard in the top 30% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the Rogers World Elite MasterCard earns $480 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

For an annual spend of $24,000, we estimated annual rewards value at up to $480.

That’s equivalent to a 2.00% return on spending.

The Rogers World Elite MasterCard has an annual fee of $0. After deducting this, we predicted net annual rewards of $480.

This puts it in the top 20% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.

Fees

The Rogers World Elite MasterCard has a $0 annual fee.

The average card charges $85. So, the Rogers World Elite MasterCard is in the bottom 50% of cards based on the cost of the annual fee.

Perks

We manually review the perks of each credit card to determine how they compare to other cards.

The Rogers World Elite MasterCard scored a 1.0 out of 5 for perks, putting it in the bottom 30% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

The average (median) credit card has a purchase interest rate of 19.99% and so the Rogers World Elite MasterCard charges {{purchase_interest_diff}} than the average.

For cash advances it costs 22.99% compared to the average of 19.96%.

Testing the Rogers World Elite MasterCard with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

We scored it 3.0 out of 5 for insurance.

It offers 7 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

We scored it 3.5 out of 5 for approval.

We predict that you will require a credit score of at least 560 to qualify for the Rogers World Elite MasterCard, while the average card requires 652 to qualify.

This puts it in the top bottom 30% of cards by approval difficulty.

The personal income requirements are $80,000, while the average card requires $23,896.

This puts it in the top 10% of cards by the income required to qualify.

The Rogers World Elite MasterCard is a versatile and popular credit card option for Canadians seeking a strong earning potential and a variety of benefits.

In this review, we will discuss the earning potential, list four benefits and two drawbacks of using this card, and provide any other relevant information to help you decide if this is the right credit card for you.

Earning potential with the card

The Rogers World Elite MasterCard earns cash back on all eligible purchases. The reward rates are as follows:

• 3% cash back on purchases made in foreign currency
• 2% cash back on eligible Rogers products and services
• 1.75% cash back on all other eligible purchases

Benefits

1. No Annual Fee: One major advantage of the Rogers World Elite MasterCard is that there is no annual fee. This means you can maximize your rewards without worrying about yearly costs.
2. Comprehensive Insurance Coverage: This card offers valuable insurance coverage that includes travel medical, trip cancellation/interruption, and rental car collision/damage waiver. This enhances your security and peace of mind for everyday purchases and travel experiences.
3. Airport Lounge Access: Rogers World Elite MasterCard offers cardholders a complimentary membership to Mastercard Airport Experiences provided by LoungeKey, which includes access to over 1,000 lounges worldwide. Note that per visit fees apply.
4. Flexible Rewards Redemption: The cash back earned with this card is easy to redeem and flexible. You can apply your rewards towards your account balance, towards eligible purchases through Pay with Rewards™, or put your rewards towards eligible Rogers products and services.

Drawbacks

1. High Income Requirement: A significant drawback of the Rogers World Elite MasterCard is the high income requirement. Applicants need to have a minimum annual income of $80,000 (individual) or $150,000 (household) to be eligible for the card.
2. Foreign Transaction Fee: While the card offers 3% cash back on foreign currency purchases, it still charges a foreign transaction fee of 2.5%. This reduces the effective cash back rate down to 0.5% on foreign currency purchases.

Additional information

The Rogers World Elite MasterCard offers various digital wallet options, including Apple Pay, Google Pay, and Samsung Pay. This provides added convenience for cardholders who want a secure and contactless payment solution.

In conclusion, the Rogers World Elite MasterCard is an excellent choice for Canadians seeking a high-earning credit card with a range of benefits and no annual fee. Consider your own spending habits and eligibility criteria when deciding if this card is right for you.

Is the Rogers World Elite MasterCard not convincing you? Consider the Simplii Financial Cash Back Visa or the Triangle World Elite Mastercard. Still not the right credit card? Make sure not to miss the Triangle Mastercard.

FAQ

Key benefits

• MasterCard network accessibility
• Patented Tap and Go technology for quick payments
• Robust online security with MasterCard ID Check
• 24/7 customer support availability
• Optional balance protector insurance
• Airport lounge access at select locations
• Rental car collision and damage insurance
• Access to exclusive offers and experiences with MasterCard Priceless Cities
• Identity theft assistance and resolution services
• Card lock and lost card replacement services
• Emergency medical coverage for trips up to 10 days
• -Trip cancellation and interruption insurance