In what appears to be a strategic move just before Apple’s expected iPhone 15 announcement tomorrow, Rogers has debuted a reduced monthly device payments plan through Rogers Bank and the latter’s Mastercard offerings.
Customers using a Rogers credit card can now opt for interest-free monthly payments for a new device spread over 36 or 48 months, with no contractual obligations. Existing financing options are 24 months, but this doubles the length, which Rogers says can lower monthly payments “by up to 50%”. You’re just spreading out your payments over a longer term, essentially.
The 0% financing over 48 months applies to a phone or accessory priced at $250 or higher including taxes, from a Rogers, Fido or Shaw store using a Rogers credit card. The offer does not apply in Quebec.
Starting September 21, the revamped red Rogers Mastercard will also offer 2% cash back to all customers using Rogers services. An added perk is a 30% bonus on this cash back when redeemed against Rogers purchases. This means, for instance, that $100 cash back transforms into a value of $130 when set against a Rogers phone purchase or a Rogers bill. Effectively, the 2% cash back yield boosts to 2.6% when utilized for Rogers products or services.
Rogers touts that Rogers Bank holds the distinct honour of being North America’s only telco bank. The company also stated worldwide, no other telco bank offers 0% device financing over such extended periods of 36 or 48 months.
All eyes are on whether Apple will hike the price of iPhone 15 devices when they are announced on Tuesday.
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Rogers is doing this to bypass the 2 year limit contract mandated by the CRTC. CRTC should step in and stop this
No, users should use their own judgment to decide if they want. 4 years. We need to quit banging these neandrethals.
No different than a 36 month or 72 month car purchase… Consumers just think smaller payments upfront.. not the long term cost.
The long term cost is the exact same. There is no interest.
Ok, so you need to be a Rogers user to take advantage. Makes sense… of course of course no problem.
What I am curious about is what would happen to this if you were to cancel being a Rogers mobile user…
If something happens to the payment plan when you cancel with Rogers Bank… it’s gonna be a CRTC problem.
If nothing happens, have at it. Totally fair game.