The USD math
Most Canadian cards charge a 2.5% foreign transaction fee and earn 1% back, leaving you net down 1.5% on every USD purchase. The Rogers Red World Elite flips this: 3% back minus 2.5% FX fee equals a net gain of 0.5% on every US-dollar transaction. It is one of the only Canadian cards that makes foreign currency spending a positive rather than a cost. The effect compounds on large purchases: on a $3,000 USD hotel stay, you earn $90 back and pay $75 in FX fees, for a net $15 gain.
The 3% rate applies to any purchase billed in USD, whether in person in the United States or online from a US retailer. It does not apply to other foreign currencies: purchases in euros, pounds, or yen revert to the 1.5% base rate, and the 2.5% FX fee applies, making those transactions net negative by 1%. For trips outside the United States, pairing the Rogers card with a true no-FX card is worth considering.
Earn rates
| Spending category | Earn rate | Net after 2.5% FX fee |
|---|---|---|
| Purchases billed in USD | 3% cash back | +0.5% net |
| Rogers, Fido, Shaw, or Chatr bills | 2% cash back | CAD only — no FX applies |
| All other eligible purchases | 1.5% cash back | −1.0% net (non-USD foreign) |
Cash back accumulates and can be redeemed as a statement credit against any purchase, or applied toward a Rogers, Fido, or Shaw wireless or internet bill. There is no minimum redemption threshold, and cash back does not expire as long as the account is open.
World Elite Mastercard benefits
The Rogers Red qualifies as a World Elite Mastercard, the highest tier in Mastercard’s consumer card hierarchy. At no annual fee, this tier is unusual. World Elite benefits include:
| Benefit | Details |
|---|---|
| Mastercard Travel Pass (DragonPass) | Membership included; lounge visits charged at ~US$32 per person. No complimentary passes. |
| Mastercard Travel Rewards | Discounts on hotels and car rentals through the Mastercard travel portal. |
| Boingo Wi-Fi | Complimentary Wi-Fi at 1 million+ Boingo hotspots worldwide, including many airports. |
| Purchase assurance | 90-day coverage against loss, theft, or damage on new purchases. |
| Extended warranty | Doubles the manufacturer’s warranty up to 1 additional year. |
Travel insurance on the Rogers Red World Elite Mastercard
The Rogers Red World Elite Mastercard scores 20 of 100 on the figures its certificate publishes, 41st of the 59 Canadian cards compared. Emergency medical is capped at $1,000,000 for trips up to 10 days. At 65 the longest covered trip falls from 10 days to 3.
| Emergency medical | $1,000,000 · age 0–64: 10 days; age 65–75: 3 days |
|---|---|
| Trip cancellation | $1,000 per person · $5,000 per account |
| Trip interruption | $1,000 per person · $5,000 per account |
| Flight or trip delay | $150 per person · $1,000 per trip |
| Rental car collision or damage | Pays after your own insurance · rentals to 31 days · vehicles to $65,000 |
You have 30 days from the incident to report a claim. Dependent children are covered to age 20.
Every figure from the certificate, with its own wording
| Emergency medical | limit: $1,000,000 (per person per trip) age 0–64: 10 days; age 65–75: 3 days |
|---|---|
| Trip cancellation | per person: $1,000 (per insured person, per trip) per account: $5,000 (per account, per trip) covered reasons: The unexpected death, sickness, injury, or quarantine of you, your family member, your travel companion or your travel companion’s family member. (first of sixteen covered reasons; the enumeration exceeds 40 words so only the opening sentence is recorded) |
| Trip interruption | per person: $1,000 (per insured person, per trip, shared with trip delay) per account: $5,000 (per account, per trip, shared with trip delay) |
| Flight or trip delay | per person: $150 (per day for commercial accommodation and meals, per insured person, to a maximum of three days) per trip cap: $1,000 (aggregate per insured person for trip interruption and trip delay combined) |
| Emergency travel assistance | offered: Yes (administered by Allianz Global Assistance; the trip does not need to be charged to the card to use these services) |
| Rental car collision or damage | is primary: No (becomes primary where no other applicable coverage exists) limit basis: the cost of the repair (including loss-of-use) or replacement cost of the rental car which has been damaged or stolen (single sentence exceeds 40 words; clause continues 'less any amount or portion of the loss assumed, waived or paid by the commercial rental car agency, its insurer, or a third party insurer') vehicle value cap: $65,000 (manufacturer's suggested retail price in the vehicle's model year) max rental days: 31 days (consecutive days, including the date of rental pick-up) excluded classes: vans (except as defined below), trucks (including pick-ups) or any vehicle that can be spontaneously reconfigured into a pick-up truck, campers or trailers, vehicles towing or propelling trailers or any other object (first four of eleven excluded vehicle categories; enumeration truncated at 40 words, remaining categories include off-road vehicles, motorcycles, exotic, antique, recreational, leased vehicles and limousines) territory: In some countries, (e.g. Australia, New Zealand, the Republic of Ireland, Costa Rica, etc.) the law requires the rental agencies to provide Rental Car Collision/Damage coverage in the price of the car rental. (in those locations this insurance covers any deductible that applies) |
| Purchase protection | days: 90 days (from the date of purchase) |
| Extended warranty | years added: 1 year (value in years; coverage matches the duration of the original manufacturer's warranty and ends no later than one year after that warranty expires) cap: $60,000 (lifetime maximum per account, combined with Purchase Protection) |
Figures above are from the Certificate of Insurance, Rogers Red World Elite Mastercard, effective 2024-04-09, underwritten by CUMIS General Insurance Company, a member of The Co-operators group, Group Policy FC310040-A issued to Rogers Bank. Checked against the certificate for 13 coverage types. Terms change without notice; verify with the issuer before relying on any figure.
What the earn math looks like
A cardholder spending $2,500 per month with a mix of Canadian and US spending:
| Category | Monthly spend | Rate | Monthly cash back |
|---|---|---|---|
| USD purchases (travel, US retailers) | $500 USD | 3% | ~$20 CAD |
| Rogers / Fido / Shaw bills | $150 | 2% | $3 |
| All other CAD spending | $1,850 | 1.5% | $28 |
| Total | ~$2,500 | ~$51 / mo |
~$612 in annual cash back at this spend mix, with no annual fee to offset. For cardholders with a Rogers or Fido wireless plan, the 2% earn on those bills adds a steady bonus that most other cards miss entirely.
Income requirement
The World Elite tier requires $80,000 in personal income or $150,000 in household income. This is higher than most travel cards and will disqualify some applicants. Rogers also offers a standard Rogers Mastercard with lower income requirements and a 1.5% base earn rate on all purchases, without the 3% USD category or the World Elite benefits. For cardholders who do not qualify for the World Elite, the standard Rogers Mastercard is a reasonable fallback.
Good fit if
- You spend regularly in USD, whether travelling to the United States or shopping from US online retailers, and want to come out ahead on every transaction rather than paying a net fee.
- You want a no-annual-fee card with a competitive flat rate and travel insurance, rather than paying $120–$150 for a premium card you may not fully use.
- You have a Rogers, Fido, or Shaw wireless or internet plan and want to earn an elevated rate on a bill you already pay every month.
Not sure this is the card for how you travel? Book a free conversation, or see membership plans for ongoing help.
Less useful if
- You travel primarily outside the United States: the 3% USD advantage disappears on euro, pound, or yen purchases, where the card nets negative after the 2.5% FX fee. A true no-FX card covers more ground internationally.
- You do not meet the $80,000 personal income requirement for the World Elite tier: the standard Rogers Mastercard is the alternative, though it lacks the 3% USD rate.
- You want points that transfer to an airline program: cash back does not convert to Aeroplan, Avios, or any loyalty currency, so redemption options are limited to statement credits and Rogers bill payments.