Rogers Red World Elite® Mastercard® vs BMO CashBack® World Elite® Mastercard®: Which one is better?
Rogers Red World Elite® Mastercard®
4.8
BMO CashBack® World Elite® Mastercard®
4
Finly Rebate
Finly Rebate
N/A
Rewards Breakdown
Annual Rewards
$720
First Year Bonus
$0
Annual Fee
$0
First Year Value
$720
Based on $2,000/mo average spending and assuming you have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$500.78
First Year Bonus
$190
Annual Fee
$120
First Year Value
$690.78
$380.78 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
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Car Rental Damage & Theft
31 days, $65,000 car MSRP
Extended Warranty
1 year
Purchase Protection
90 days
Emergency Out of province Medical
$1M, Up to 10 days
Trip Interruption
$1,000/person, $5,000 maximum
Emergency Medical Over 65
$1M, Up to 3 days
Trip Cancellation
$1,000/person, $5,000 maximum
Insurance Included
Car Rental Damage & Theft
yes
Extended Warranty
1 year
Purchase Protection
90 days
Emergency Out of province Medical
$5M up to 8 days per covered person
Trip Interruption
$500
Lost or Stolen Baggage
$500/person, $1,000 maximum
Baggage Delay
$500/person, $1,000 maximum After 6 hours
Car Rental Accident
$200,000
Travel Accident
$500,000
Hotel Burglary Insurance
$1,000
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Car Rental Personal Effects
$1,000
Personal Effects
$750
Flight Delay
$500 After 4 hours delay
Extra Benefits*
Airport Lounge - Dragon Pass
Pass only, complimentary visits not included
No Cost roaming
5 days
Extra Benefits
Airport Lounge - Dragon Pass
Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.
Car Rental Discount
Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool
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Gas Discount
Get up to 7 cents off per litre on Shell® fuel, only for BMO cardholders.
Roadside Assistance
Including battery boosts, flat-tire change, lockout service and towing – a $69/year value.
Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.
Global Data Roaming plan
With FlexiRoam, stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, without any additional charges, if apply.
Interest Rates*
Purchase:
20.99% - 25.99%1
Cash Advance:
22.99% - 27.99%1
Balance Transfer:
22.99% - 27.99%1
Interest Rates
Purchase:
20.99%
Cash Advance:
23.99% (for Quebec 21.99%)
Balance Transfer:
22.99%
Annual Fee*
$0
Annual Fee
$120
$0
First Year Waived
Income Required*
Min Personal Income:
$80,000
Min Household Income:
$150,000
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Welcome Bonus*
N/A
Welcome Bonus
Get up to 10% cash back in your first 3 months with an incremental cashback value of $200
Rewards Rate*
- 3% cash back on all U.S dollar purchases
- 2% cash back on all regular purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
- 1.5% cash back on all purchases if you do not have 1 qualifying service
- 1.5x redemption bonus on your earned cash back value when used on Rogers, Fido and Shaw purchases – that’s a 3% cash back value
Rewards Rate
- 5% cashback on groceries (maximum $25 per statement)
- 4% cashback on daily transit (maximum $12 per statement)
- 3% cashback on gas (maximum $9 per statement)
- 2% cashback on recurring payments (maximum $10 per statement)
- 1% cashback on all other credit card purchases.
Is this card worth it?
This card is one of the best in Canada, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is higher than what almost any other card offers, even those with annual fees! Additionally, for a no-fee card, you gain access to an extensive list of travel benefits, many of which are typically offered only with cards that have annual fees. Therefore, we recommend this card to anyone who meets the income requirements, even if you are not a Rogers customer!
Is this card worth it?
If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.
Pros
- Voted the Best Cash Back Card in Canada for Rogers, Fido and Shaw customers by FinlyWealth.
- Voted the Best No Annual Fee Credit Card in Canada by FinlyWealth.
- There is no annual fee which is a notable benefit for a card with such high rewards. Most cards with slightly lower reward rates typically include yearly fees.
- Many favorable benefits for travelers.
- Many benefits, such as trip cancellation insurance, are only available on credit cards with an annual fee. It is rare to see these benefits on a no-annual-fee card!
- Offers the flexibility to redeem cash towards Rogers, Shaw, or Fido services, potentially increasing your rewards.
- The roam-like benefit is a benefit unique only to this card.
- It is accepted at nearly all locations as it's a Mastercard.
Pros
- Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
- Includes roadside assistance, a rare but valuable benefit for people on the road.
- Provides a comprehensive list of insurance coverage and benefits.
- High first-year value.
Cons
- Harder to qualify due to the high credit score and income requirements.
- Out of all possible travel insurances, this card is missing Baggage delay and Hotel Burglary insurance. If these two insurances are essential to someone, this card needs to be paired with another travel card to cover them.
Cons
- Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
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