Rogers Red World Elite® Mastercard® vs American Express Gold Rewards Card®: Which one is better?

Rogers Red World Elite® Mastercard®

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

American Express Gold Rewards Card®

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RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Rewards Breakdown

Annual Rewards

$720

Welcome Bonus

Annual Fee

First Year Value

$720

Based on $2,000/mo average spending and assuming you have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$597.35

American Express Membership Rewards

Welcome Bonus

$1,260

American Express Membership Rewards

Annual Fee

$250

First Year Value

$1,607.35

$347.35 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

Emergency Out of province Medical

$1M, Up to 10 days

Trip Cancellation

$1000/person, $5000 maximum

Trip Interruption

$1000/person, $5000 maximum

Car Rental Damage & Theft

$65000

Purchase Protection

90 days

Extended Warranty

1 year

Emergency Medical Over 65

$1M, Up to 3 days

Trip delay

$150 day, up to 3 days

Insurance Included*

Emergency Out of province Medical

$1M, Up to 10 days

Trip Cancellation

$1000/person, $5000 maximum

Trip Interruption

$1000/person, $5000 maximum

Car Rental Damage & Theft

$65000

Purchase Protection

90 days

Extended Warranty

1 year

Flight Delay

$500 after 4 hour delay

Baggage Delay

$500 after 6 hour delay

Hotel Burglary Insurance

$500

Lost or Stolen Baggage

$500

Travel Accident

$500,000

Extra Benefits

Airport Lounge - Dragon Pass

Pass only, Complimentary visits not included!

No Cost roaming

5 days

Extra Benefits*

Travel Credit

$100

Nexus Application

$50 statement credit every 4 years

Airport Lounge - Priority Pass

Pass only. No Complimentary visits!

Airport Lounge - Plaza Premium

4 Free complimentary visits

Complimentary Hotel Benefits

Hotels booked American Express Travel

Status lift

Hertz Gold Plus Rewards® loyalty program

American Express Experiences

Extra points

Earn 2 points on Amex Travel Online purchases and extra points on American Express offers

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Interest Rates*

Purchase:

21.99%²

Cash Advance:

21.99%²

Annual Fee

Annual Fee*

$250

Income Required

Min Personal Income:

$80,000

Min Household Income:

$150,000

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus

N/A

Welcome Bonus*

Earn 5,000 Membership Rewards points for each monthly billing period in which you spend $1,000 in purchases on your Card in the first Year

Rewards Rate

3% cashback on all U.S dollar purchases
2% cashback on all on Non U.S dollar purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
1.5% cashback on everything else if you don't have the qualifying service

Rewards Rate*

2x points per $1 spent on gas, groceries and drugstore purchases
2x points per $1 spent on travel (eligible flights, hotels, tours and more)
1x point per $1 spent on all other eligible purchases

Loyalty Program

N/A

Loyalty Program*

American Express Membership Rewards

Point Redemption Options

Not Applicable

Point Redemption Options*

Most Optimal

Transfer to Airline Partners

2.1¢ / point

Fixed Point Travel Program

1.66¢ / point

Transfer to Hotel Partners

1.66¢ / point

Statement Credits

1¢ / point

Gift Cards

0.765¢ / point

Amazon.ca

0.7¢ / point

Merchandise

0.63¢ / point

Is this card worth it?

This card is one of the best in Canada, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is higher than what almost any other card offers, even those with annual fees! Additionally, for a no-fee card, you gain access to an extensive list of travel benefits, many of which are typically offered only with cards that have annual fees. Therefore, we recommend this card to anyone who meets the income requirements, even if you are not a Rogers customer!

Is this card worth it?

The American Express® Gold Rewards Card is an excellent choice for travelers seeking an entry-level card that offers a strong balance of generous travel benefits without excessive costs. With a relatively low annual fee, this card provides flexibility and a range of perks that make it stand out among other options. It’s ideal for those who want to maximize their travel rewards without being tied to a specific airline or compromising on the benefits offered.

Pros

Voted the Best Cash Back Card in Canada for Rogers, Fido and Shaw customers by FinlyWealth.
Voted the Best No Annual Fee Credit Card in Canada by FinlyWealth.
There is no annual fee which is a notable benefit for a card with such high rewards. Most cards with slightly lower reward rates typically include yearly fees.
Many favorable benefits for travelers.
Many benefits, such as trip cancellation insurance, are only available on credit cards with an annual fee. It is rare to see these benefits on a no-annual-fee card!
Offers the flexibility to redeem cash towards Rogers, Shaw, or Fido services, potentially increasing your rewards.
The roam-like benefit is a benefit unique only to this card.
It is accepted at nearly all locations as it's a Mastercard.

Pros

Flexible Rewards: Enjoy flexible Membership Rewards point conversion with up to 2 points per $1 spent.
Travel Perks: Includes $100 annual travel credit and 4 free passes to Plaza Premium lounges in Canada.
Comprehensive Insurance: Comes with 11 types of insurance coverage.
Multiple Redemption Options: Offers 4 ways to redeem points for maximum value.

Cons

Harder to qualify due to the high credit score and income requirements.
Out of all possible travel insurances, this card is missing Baggage delay and Hotel Burglary insurance. If these two insurances are essential to someone, this card needs to be paired with another travel card to cover them.

Cons

High Annual Fee: The card comes with a $250 annual fee.
Foreign Transaction Fees: A 2.5% fee applies to foreign transactions.
Limited Travel Insurance for Seniors: No travel medical insurance coverage for those over 65.
Lower Acceptance: As an American Express card, it may have lower acceptance compared to Visa or Mastercard.

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Legal

^*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment. Check for full details and current product information.

² If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 28.99%.