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Is the Rogers World Elite Mastercard the Best Card With No Foreign Transaction Fees?

By Baggio Ma | Published on 03 Oct 2023

Rogers World Elite Mastercard

    Rogers probably isn’t the first company you think of when it comes to Canadian credit cards. But the telecommunications giant is offering travellers a no-annual fee card from the popular World Elite line of credit cards. This card is great for those who love to travel. While it technically charges foreign transaction fees, those are offset by the cashback you receive on each purchase. In Canada, there are only a few cards that offer no foreign transaction fees, and many of those charge annual fees. If you’re in the market for a new card with travel benefits and generous cash-back incentives, it’s time to consider the Rogers World Elite Mastercard. 

    Rogers World Elite Mastercard Key Facts

    Annual Fee$0.00
    Purchase Interest Rate19.99%
    Cash Advance Interest Rate22.99%
    Additional Card FeeFree 
    Cash Back Rewards1.5% for Canadian Dollar purchases3.0% for US Dollar Purchases
    Welcome Bonus$25.00 upon first card purchase within 3 months of activation 
    EligibilityMinimum annual income of $80,000 or household annual income of $150,000
    Excellent credit score 
    Must spend at least $15,000 annually

    The Rogers World Elite Mastercard is an awesome addition to the Canadian credit card landscape. It is part travel reward card, part premium cash-back card, and with no annual fees, this card is a much more affordable option than other versions like the HSBC World Elite Mastercard, the BMO Airmiles World Elite Mastercard, or the RBC WestJet World Elite Mastercard. 

    This Rogers card offers competitive interest rates and excellent cash-back options that we’ll review in detail in the next section. It also comes with a long list of travel benefits that can add additional value for busy travellers. This makes it both one of the best cash-back credit cards and the best travel credit cards in Canada for 2023!

    Rogers World Elite Mastercard Cash Back Rewards

    Cash-back rewards are always a popular perk for credit card users in Canada. The Rogers World Elite Mastercard has a unique cash-back system that rewards 1.5% on all purchases in Canadian dollars and up to 3.0% cash-back on all US Dollar purchases. 

    The card does come with a foreign transaction fee of 2.5%, but the 3.0% cash-back more than makes up for it if shopping south of the border. That equates to essentially zero cross-border fees, which will certainly make this one of the more popular no-foreign transaction fee cards. With no annual fee, it will provide plenty of competition for other non-foreign transaction fee cards like the HSBC World Elite Mastercard or the Scotiabank Passport Visa Infinite Card. 

    These cash-back rewards can be used for bill payments including towards mobile statements for Rogers, Fido, or Chatr customers. You can also receive a one-time annual lump sum of your cash-back rewards in January of each year, although you do have to call Rogers to notify them before December 1st of the previous year.

    Rogers World Elite Mastercard Travel Insurance

    One of the best parts about the World Elite Mastercard series is the travel benefits that are included. The Rogers World Elite Mastercard comes with several different travel perks including out-of-province and out-of-country medical insurance, trip interruption and cancellation insurance, and rental car damage and insurance. 

    As for purchase insurance, the Rogers World Elite Mastercard provides extended warranty and purchase protection for 1 year and 90 days respectively. This is on top of any extra warranty you purchase as well as any default manufacturer’s warranty. 

    Rogers World Elite Mastercard Benefits 

    On top of the great cash-back rewards and travel perks, the Rogers World Elite Mastercard comes with a number of other benefits for cardholders. In addition to the numerous types of travel insurance, Rogers World Elite Mastercard holders also get a complimentary membership to the Mastercard Travel Pass by DragonPass. This provides cardholders with access to over 1,300 airport lounges around the world. 

    World Elite Mastercard holders also get access to over 1 million Boingo WiFi hotspots around the world. These hotspots provide unlimited high-speed internet for up to 4 different devices. Some airlines even have Boingo WiFi spots onboard their planes! 

    We’d be remiss if we did not also mention again that this credit card does not have an annual fee. Most World Elite Mastercards come with an annual fee of at least $120, so you’re already saving on this fee while also getting many of the same World Elite benefits. Finally, for Canadian consumers, this is an awesome Mastercard to use at any Costco Warehouse when shopping for groceries. 

    The Downsides of the Rogers World Elite Mastercard

    Before signing up for the Rogers World Elite Mastercard, it’s important to know the downsides as well. The most glaring downside is that the eligibility requirements are quite strict. Although this card does not have an annual fee, it requires a minimum annual income of $80,000 or a minimum household income of $150,000. You will also need a relatively high credit score although Rogers or Mastercard do not specify an exact score. 

    On top of that, there is also a minimum spending requirement for each year. For the Rogers World Elite Mastercard, you need to spend at least $15,000 annually to qualify for the card. This means you need to spend at least $1,250 per month to keep this card. For some users, this might mean you end up spending more throughout the year than if you just paid an annual fee for another credit card. 

    Is the Rogers World Elite Mastercard the Best Card With No Foreign Transaction Fees?

    If it isn’t the best one, it’s certainly close! The Rogers World Elite Mastercard is definitely worthy of consideration if you like both cash-back rewards and great travel benefits. The absence of the annual fee is nice but be aware of the strict eligibility requirements to qualify for this card as well as the minimum spending requirement of $15,000 each year. While this is an unusual requirement for credit cards, putting all day-to-day expenses onto this card would allow most individuals to hit this minimum easily. 

    If you can get past those requirements then the Rogers World Elite Mastercard’s combination of travel perks, insurance, no foreign transaction fees, and generous cash-back rewards makes it an excellent choice for travellers. 

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    Baggio Ma has written for several Canadian websites on a variety of personal finance related topics. His knowledge is informed by his personal financial journey as an investor over the past 5 years. He invests using the online brokerage platform Wealthsimple, shops with one of the best credit cards in Canada, and keeps track of his credit score through Borrowell.