Rogers and Fido Mastercard Changes Coming Effective May 23


If you’re using a Rogers or Fido Mastercard to take advantage of cash back and foreign exchange perks, changes are coming to both cards, effective on May 23, 2018.

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The Rogers Platinum Mastercard, as of today, has eliminated their $29 annual fee. For those who paid over the last year, a prorated credit will be applied to accounts by the end of 2018.

For those who sought the 4% cash back reward on foreign currency purchases both online and at retail stores, that is now 3%. Usually there is a 2.5% conversion fee charged by credit card companies, so customers now only net 0.50%.

The cash back on Rogers purchases is changing from 1.75% to 2%, however cash back on all over purchases is decreasing from 1.75% to 1.25%.

Fido Mastercard Has Similar Changes to Cash Back

As for the Fido Mastercard, which launched in 2016, the Account Maintenance Fee has been eliminated (only applied to those who had no transactions for 12 months), while foreign currency cash back also decreases from 4% to 3%, like the Rogers Platinum card.

Cash back for Rogers purchases increases from 1.5% to 2%, while cash back on all other purchases sees a drop from 1.5% to 1.25%.

To date, both the Rogers and Fido Mastercard still do not support Apple Pay.

[via RFD]


  • Joe

    Wow. They gutted the best credit card in Canada. Glad I’ll be getting my $29 fee back at least. Time to switch to Scotia?

  • MathieuM

    Are both cards now identical? Going over the details in the article above seems to indicate the foreign currency net rewards are 0.5% for both cards (3% minus 2.5%); the cash back rewards for Rogers purchases are 2% for both cards; and the cash back rewards for all other CAD purchases are 1.25%. I guess it makes sense now that neither card charges an annual fee?

  • Salinger

    Hmmm, ½% net earn rate on FX transactions (FX purchases were my main reason for getting this card in the first place). Not worth keeping the extra card in my wallet any more. I’ll be cancelling.

  • Cody Woodward

    Apply for the home trust preferred visa. It’s a free card and has no foreign currency fee and is 1% cash back, so you will net 1% and you can use it in Costco in the US (they only take visa now). That’s now officially the best foreign currency card in Canada.

  • bbousquet

    I was looking at that card a few months ago but it’s not available in Québec.

  • bbousquet

    I just got the Rogers MC two months ago to replace the Amazon Visa.. I guess that didn’t last long! The Rogers/Fido MC cards are still my best option for foreign purchases (did I say I miss the Amazon card?) and I’ll keep using the Tangerine MC for the three 2% categories.

  • Joe

    Thanks for the tip, Cody. I am aware of this card, however, there’s two problems I have with the Home Trust Visa:

    1) It’s only good for foreign purchases. I used the Rogers card for both foreign and domestic. I only spend about $300/month on average for foreign transactions. That being said, I would still get this card, except…

    2) Home Trust Capital Group, the company behind the Home Trust Visa, is a not a great company. Last year, their stock dropped from $30 to $5 in one day. It has since recovered to about $15, but there are a lot of negative stories about HCG and their mortgage practices. I think even Warren Buffet said some negative things about them.

    Anyway, that’s just based on my limited research about them. What I really wish is that Amazon still offered that Visa with no foreign fee. Now that was a card!

  • Joe

    Yup, I have this exact same setup. Too bad about the Rogers card 🙁

  • FragilityG4

    Glad I was able to utilize this card as much as I did! I already had changed to a travel rewards card.

  • Kevin

    With all these no foreign fee cards being cancelled and changed (Tangerine MC went from 1.5% to 2.5% foreign fee last year, the chase marriott and amazon cards being cancelled, the rogers/fido terms being changed), I just don’t see Home Trust keeping the 0% foreign transaction fee. Everyone is applying for this card now and there seems to be a 5-6 week backlog in applications. I have no confidence that they will keep it this way and I won’t be surprised when Home Trust changes their terms too.

  • artooro

    I signed up for (and received) the Collabria US Dollar mastercard via a local credit union.
    It has pretty much the same perks at the Amazon VISA, as long as you only use it for USD purchases.

  • Jean

    I have this card since the beginning. At first, i had points that i used on extra data for my phone plan. After, it was only cash back. And now, they want me to accept a devaluation of 33%. Its not what i signed for. I will switch for sure.

  • Jean

    Which one? I could use some travel…

  • FragilityG4

    BMO World Elite. First year fee waived and 35,000 welcome points after purchases totalling three grand. Two points per dollar spent.

  • Cody Woodward

    hey Joe, thanks for the feedback. I can’t find anywhere that stats that the Home Trust Visa is for foreign purchases only though. Could you link me or point me in that direction. My wife and I applied for it just over a month ago. It’s not a huge issue though as my domestic card is always my Capital One World Travel Elite Mastercard which throws me 2% back and we’re getting it solely for foreign purchases, but in case we need to use Visa somewhere in Canada for some odd reason I’d be curious as to why a domestic card wouldn’t work domestically. Ive never seen that claim anywhere else and I just went looking now and couldn’t find it. If you could link me that would be huge. Thanks

  • Cody Woodward

    Probably right, but I’ll ride it until it dies. Just because things change in the future, doesn’t mean I shouldn’t benefit from it in the present.

  • Joe

    Sorry Cody, I should’ve been more clear in my response to you.

    The Home Trust Visa absolutely works domestically. You’re right, it would be very weird if a Canadian card didn’t work in Canada.

    It’s just that you only get 1% back on domestic purchases, which sucks because lots of other cards that offer 1.5% or higher. Hence why I said the Home Trust Visa is only “good” for foreign transactions.

    Sounds like you’re doing the right thing by using the Capital One card as your main card and then the Home Trust for your foreign purchases.

  • Cody Woodward

    ah right right. makes sense, thanks for clarifying. I try to keep 1 MasterCard, 1 visa and 1 American Express. I don’t really use anything but my MC though. I actually have the Fido MC right now, but were waiting on the Home Trust to come in (been a month now). My first card was 1 of those stupid scene Visa from scotiabank. So once the Home Trust comes in, I can cancel both the scene visa and the fido MC as it will replace both of those for me (the fido card for foreign purchases and the scene visa, because its a Visa). I hate having too many cards open. Ive dropped my credit limit down on all of them right before I applied for the home trust so that it doesn’t look so bad.

  • thealexofevil

    Brim MasterCard – no forex and 1% – is another option.

    (disclaimer: i do not work for them – i read about it just now)

  • bbousquet

    Thanks for the tip. The basic Brim card looks like a worthy replacement to the Amazon card, with some perks to boot (purchase protection, for one). I submitted an application.

  • Mark Adamson

    i applied for this card in Jan and still waiting for it.called numerous times to inquire and all they could say was they were inundated with applications when Chase announced the closing of Amazon Visa. Its a waiting game!!!

  • Mark Adamson

    i applied for this card HOMETRUST VISA in Jan and still waiting for it.called numerous times to inquire and all they could say was they were inundated with applications when Chase announced the closing of Amazon Visa. Its a waiting game!!!

  • Joe

    Hi Everyone,

    So a quick update in case anyone is curious: after looking at what was available, I’ve changed up my credit card configuration as follows:

    *NEW* MBNA World Elite Card – 2% Cash Back on any category. $89 annual fee, but comes with $100 cash back bonus in the first year

    Rogers Mastercard – For foreign transactions only

    TD Cash Back Visa – For recurring purchases, gas and groceries (provides 3% cash back)

    I also have the Tangerine MC, but seeing as it only provides, at most, 2% cash back on select categories, I’m probably going to cancel it.