Rogers Red World Elite® Mastercard® vs BMO CashBack® World Elite® Mastercard®: Which one is better?

Rogers Red World Elite® Mastercard®

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

BMO CashBack® World Elite® Mastercard®

4.2

More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Finly Rebate

$60 Cash Rebate from FinlyWealth

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$720

Welcome Bonus

Annual Fee

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

$490.46

Welcome Bonus

$190

Annual Fee

$120

First Year Value

$680.46

$370.46 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

Emergency Out of province Medical

$1M, Up to 10 days

Car Rental Damage & Theft

$65,000

Purchase Protection

90 days

Extended Warranty

1 year

Emergency Medical Over 65

$1M, Up to 3 days

Trip Cancellation

$1,000/person, $5,000 maximum

Trip Interruption

$1,000/person, $5,000 maximum

Trip delay

$150 day, up to 3 days

Insurance Included

Emergency Out of province Medical

$1M, Up to 10 days

Car Rental Damage & Theft

$65,000

Purchase Protection

90 days

Extended Warranty

1 year

Travel Accident

$500,000

Flight Delay

$500 After 4 hours delay

Lost or Stolen Baggage

$500/person, $1000 maximum

Baggage Delay

$500/person, $1000 maximum After 6 hours

Hotel Burglary Insurance

$1000

Extra Benefits

Airport Lounge - Dragon Pass

Pass only, complimentary visits not included

No Cost roaming

5 days

Extra Benefits

Airport Lounge - Dragon Pass

Pass only, complimentary visits not included

Roadside Assistance

Includes free battery boosts, flat-tire change, lockout service and towing

Car Rental Discount

25% off base rate of participating National Car Rental and Alamo Rent a Car

Gas Discount

Get up to seven cents off per litre on Shell® fuel

Hotel Booking Discount

Save up to 7% on your Booking.com prepaid hotel or property rental bookings

Boingo Wi-Fi hotspot

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Interest Rates

Purchase:

20.99%

Cash Advance:

23.99%

Annual Fee

$120

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

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