If you’re looking for a banking service offering extensive benefits, you might consider Rogers Bank Canada. Rogers Bank Canada is in a class of its own, mostly because of its unique offerings and structure.
Unlike regular banks and online financial institutions with a wide range of products, Rogers Bank has few financial products for its customers, spread across the Canadian region.
With several credit card options loaded with benefits and unique features, including a credit card loyalty rewards program and other financial services and products, Rogers Bank has established its name among Canadians of different classes, ages, and professions.
This piece will provide an overview of Rogers bank and take an in-depth look at its financial product offers and services and how good they are. Read on to find out if it lives up to its name.
About Rogers Bank
When you hear or see the word “bank,” you expect a conventional or an online bank where all forms of banking and financial transactions occur.
Currently, Rogers Bank Canada offers only two financial products – Credit Card and Financial Protection. Its collection of credit cards and reward offers has become a favorite for many Canadians.
Rogers Bank (French: Banque Rogers) is a Toronto-based Canadian financial services company established in 2013 to provide Canadians with financial products and services. Rogers Bank is a subsidiary of Rogers Communications. The parent company, Rogers Communication Inc., has been in the communication and media industry since 1960, with significant operations in other fields.
In the summer of 2011, Rogers applied to the Office of the Minister of Finance under the Bank Act to establish a Schedule 1 Bank (domestic banks that accept deposits). However, in 2013, Rogers Communication received approval from regulators to offer its own credit card.
The Superintendent of Financial Institutions‘ office granted the company an order to commence and carry on business. Thus in 2014, the bank started issuing credit cards to its existing customers.
Rogers Bank Products and Services
Generally, Rogers Bank offers two distinct financial products – Credit Card and Financial Protection services (insurance).
Disclaimer: Rates and product offerings are always changing, so this article might not reflect the current market situation. Please contact your financial advisor before making any financial decisions.
Rogers Bank Credit Card
The issuance of credit cards from Rogers Bank started in 2014. Rogers Bank currently offers five credit cards to Canadians.
- Rogers Platinum MasterCard
- Rogers World Elite MasterCard
- Fido MasterCard
- Chatr MasterCard
- Chatr Secured MasterCard
Rogers Platinum MasterCard
The Rogers Platinum MasterCard is one of the lucrative Cash Back credit cards with unique features and benefits.
Cardholders of the Rogers Platinum MasterCard enjoy unlimited Cash Back rewards of 3% on all eligible purchases made in the United States (USD) and 1% in unlimited Cash Back rewards on all other eligible purchases.
Like most Rogers Bank credit cards, the Platinum MasterCard has no annual fees. This MasterCard is acceptable in all locations where MasterCard is accepted. Other features of the Rogers Platinum MasterCard include:
- No annual fee.
- Welcome bonus of $25 Cash Back reward on the first card purchase within 3 months of card issuance.
- An annual interest rate of 19.99% on purchases.
- An annual interest rate of 22.99% on cash advances and balance transfers.
- Tap and Go option for purchases up to $50 or $100, depending on the merchant.
Rogers World Elite MasterCard
The Rogers World Elite MasterCard comes with no annual fee. The card is suitable for earning Cash Back rewards with no caps or hidden fees. Features of the Rogers World Elite MasterCard include:
- No annual fee ($0)
- Earn 3% unlimited Cash Back on all eligible purchases made in US dollars (USD).
- Earn 1.5% in unlimited Cash Back rewards on all other eligible purchases.
- Access to all MasterCard benefits, including CHIP and PIN technology, MasterCard identity check, Tap and Go shipping, etc.
- An annual interest rate of 19.99% on purchases.
- A standard annual interest rate of 22.99% on balance transfers, cash advances, and cash-like transactions.
- Welcome bonus of $25 in Cash Back rewards on your first card purchases within 3 months of card issuance.
- Eligibility requirement: $80,000 personal income or $150,000 household income, or an annual minimum spend of at least $15,000 in total purchases.
Fido MasterCard
The Fido MasterCard is suitable for Cash Back rewards on everyday purchases and recurring payments. This card also has added MasterCard benefits, including zero liability, transaction monitoring, CHIP and PIN Technology, Tap and Go shipping, and Mobile Wallet compatibility. Features of the Fido MasterCard include:
- No annual fee ($0).
- Earn 1.5% in unlimited Cash Back rewards on all your eligible recurring payments and subscriptions, including your Fido Bills, utilities, streaming services, and more.
- Earn 1% in unlimited Cash Back rewards on all other eligible purchases.
- Get a $25 welcome bonus in Cash Back rewards on your first card purchases within 3 months of card issuance.
Chatr MasterCard
The Chatr MasterCard is suitable for Cash Back rewards and earning bonus Cash Back on Chatr services. This card has no annual fees and added benefits, including transaction monitoring, zero liability, mobile wallet compatibility, and other MasterCard benefits. Features of the Chatr MasterCard include:
- Earn 3% unlimited Cash Back rewards on all Chatr and Rogers products and services.
- Earn 1% in unlimited Cash Back on all eligible regular purchases.
- No annual fee ($0)
- Earn a welcome bonus of $25 in Cash Back rewards on your first card purchase within 3 months of card issuance.
Chatr Secured MasterCard
The Chatr Secured MasterCard is suitable for building or repairing your credit card responsibility and earning everyday Cash Back rewards. You can also enjoy supplementary benefits such as zero liability, transaction monitoring, mobile wallet compatibility, Tap and Go shopping, etc. features of the Chatr Secured MasterCard include:
- Monthly fee of $5.00
- Earn 1% unlimited Cash Back rewards on your Chatr and Rogers products and services.
- Earn 0.5% in unlimited Cash Back rewards on all eligible regular purchases.
- Requires identity verification and review of credit history against undischarged bankruptcy.
- It requires a deposit of security funds before approval.
- A standard interest rate of 19.99% on purchases.
- A standard interest rate of 22.99% on cash advances and balance transfers.
Rogers Bank Protection Services
Rogers Bank Canada provides coverage and protection services for Canadians in three categories.
1. Travel Insurance
Regardless of your destination, Rogers Bank, in partnership with Allianz Global Assistance, provides you with options to help cover unexpected expenses, such as trip cancellation, medical emergencies, etc.
As a Rogers World Elite MasterCard holder, you can enjoy Travel Insurance benefits and additional coverage options. Therefore, you can pick any of the four available travel insurance plans for your next trip and find the right coverage for your needs. Here are the coverage options available:
Single Trip Emergency Medical
This entails coverage of up to $5 million of unexpected illness or injury while traveling outside your home or territory.
Trip Cancellation and Interruption
This involves coverage to ease the unrecoverable cost of an unexpectedly canceled, interrupted, or delayed trip.
Annual 10-Day Emergency Medical
This involves coverage for medical emergencies outside your home province or territory for an unlimited annual trip.
Comprehensive Travel
This involves coverage for medical emergencies, trip cancellation and interruption expenses, baggage loss or damage, and more.
2. InfoProtector 360
Rogers Bank offers 360⁰ personal information protection in partnership with Sigma Loyalty Group. The InfoProtector 360 protects you and all your important cards, documents, and devices that you carry around. Here are the coverage options available on the InfoProtector 360:
Information Protection
This involves tracking your identity and information on the internet for any unauthorized usage.
Device Protection
This software protects your devices and important information against loss or theft, with 50GB of free cloud storage.
Travel Protection
This secures your important items and gives you access to your next trip’s health and security information.
Lost Wallet Protection
This involves card cancellation and replacement service, credit bureau monitoring, and protection against unauthorized use of lost cards.
The InfoProtector 360 service comes with a service fee of $10.99 per month plus taxes. The first month of insurance purchase is free.
3. Optional Group Balance Protection Insurance
Rogers Bank’s Optional Group Balance Protection Insurance is designed for credit cards. It helps protect you and your loved ones by reducing the financial impact of unforeseen events. Optional Group Balance Protection Insurance is underwritten by the Canadian Premier Life Insurance Company and is billed directly to your Rogers Bank credit card account.
Optional Group Balance Protection Insurance provides coverage on:
- Involuntary job loss.
- Involuntary loss of self-employment.
- Becoming disabled.
- Becoming hospitalized.
- Diagnosed with a critical illness.
- Passing away.
Rogers Bank Online Banking
With Rogers Bank online banking, you can conveniently manage your account from the comfort of your home. The online banking service is only available to Rogers Bank’s primary credit cardholders. With the Rogers Bank online banking service, you can:
- Manage your account to lock and unlock your credit card, check your balances, and view available credit.
- Customize your account alerts by setting security alerts, payment reminders, balance updates, and more.
- View your account monthly statements and account activity.
- Send secure messages and connect with Rogers Bank customer care representatives.
To enjoy the online banking service benefits, register your account, and activate your credit card. This will automatically set up access to both online banking and mobile app.
Rogers Bank Mobile App
The Rogers Bank mobile app makes it easy to manage your Rogers Bank account on your smartphone, anywhere, and anytime. The mobile app allows you to manage your account, redeem your Cash Back rewards, customize account alerts, and view your monthly account statement and activity.
The Rogers Bank mobile app is available for download on the Google Play Store for Android users and the Apple Store for iOS users.
Rogers Bank Editor’s Review
Rogers Bank has a good collection of credit cards you can use to earn Cash Back rewards on eligible purchases. Besides, most Rogers Bank credit cards come with no annual fees, which help cut costs and save more. You can also leverage the Rogers protection service to find the one that suits your coverage needs.
However, if you’re expecting a typical banking service such as loan options, investment accounts, and other related financial products, Rogers Bank does not offer banking services like other online banks and financial institutions in Canada.
Rogers Bank FAQs
Where can I use my Rogers Bank MasterCard?
You can use your Rogers Bank MasterCard everywhere MasterCard is accepted as payment. You can download the MasterCard Nearby app to find locations that accept MasterCard.
Can I have a Rogers Platinum MasterCard and a Rogers World Elite MasterCard at the same time?
You can switch from a Rogers Platinum MasterCard to Rogers World elite. However, you can only have one credit card account at any time.
As a Chatr Secured MasterCard holder, what happens to my security funds?
Your security funds activate your Chatr secured MasterCard account. If you decide to close your account, your security funds will be returned within 60 days, provided you pay your full account balance. You will not have access at any time to withdraw any security funds.
Can I add a supplementary card to my Chatr Secured MasterCard and Chatr MasterCard?
Yes, you can add supplementary cards for authorized users and earn Cash Back rewards. The supplementary cardholders will share your credit limit.
How do I activate my credit card?
You can activate a new or replacement primary card within your Rogers Bank online account, in the Rogers Bank mobile app, or by calling customer care at 1 (855) 275-2216. To activate supplementary cards, refer to the activation number on your new card’s sticker.
How do I know if I qualify for a Rogers bank MasterCard?
To qualify for any Rogers MasterCard, you typically need to be employed or verify income, not filed for bankruptcy in the last 7 years, not currently working with a trustee under a formal consumer proposal and have a good credit score. To find out if you have a good credit score before applying, contact one of the national consumer credit reporting agencies, Equifax, TransUnion, or Experian.
Can I use my mobile wallet outside of Canada?
Yes, you can use your mobile wallet at nearly any contactless payment terminal.
How do I turn off InfoProtector 360 alerts?
You can control which alerts you receive from the alerts section of your InfoProtector 360 app ‘Settings’
