Rogers Red World Elite® Mastercard® vs SimplyCash® Card from American Express: 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

SimplyCash® Card from American Express

3.5

More Details

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

$301.46

Welcome Bonus

$100

Annual Fee

First Year Value

$401.46

$301.46 in years after

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

Insurance Included

Purchase Protection

90 days

Extended Warranty

1 year

Emergency Out of province Medical

$1M, Up to 10 days

Emergency Medical Over 65

$1M, Up to 3 days

Trip Cancellation

$1000/person, $5000 maximum

Trip Interruption

$1000/person, $5000 maximum

Car Rental Damage & Theft

$65000

Trip delay

$150 day, up to 3 days

Insurance Included*

Purchase Protection

90 days

Extended Warranty

1 year

Travel Accident

Up to $100,000

Extra Benefits

Airport Lounge - Dragon Pass

Pass only, Complimentary visits not included!

No Cost roaming

5 days

Extra Benefits*

American Express Experiences

Front Of The Line® Presales, Front Of The Line® Reserved tickets and more.

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Interest Rates*

Purchase:

21.99²

Cash Advance:

21.99²

Annual Fee

Annual Fee*

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 a $10 statement credit for each monthly billing period in which you spend $300 on your SimplyCash® Card from American Express during your first 10 months as a new Cardmember. This can total up to $100 in statement credits within the first 10 months. This offer is not available to current or former Cardmembers of this Card. Additional terms apply.

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*

2% cash back on gas and groceries (up to $15,000 in purchases combined)
1.25% cash back on all other purchases

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 SimplyCash® Card from American Express stands out for its no annual fee and strong cash-back earning potential, offering up to $100 in statement credits within the first 10 months. What makes it even more appealing are the unique perks, such as early access to concert tickets and extra layers of security for online shopping. These extra benefits, along with the affordability, make it a strong contender for those looking for a reliable cash-back card with no annual fee. It's an excellent choice for everyday spending while still enjoying exclusive Amex advantages.

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

No annual fee: The card does not charge an annual fee, making it accessible and cost-effective.

Attractive cash-back rates: Offers a solid structure for earning cash-back on eligible purchases.

Exclusive Amex perks: Provides benefits such as access to concert tickets and enhanced security for online shopping.

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-interest rates: Carries higher interest rates on purchases and cash advances.

Annual cash-back cap: Limits the total amount of cash-back you can earn within a year.

Limited travel and shopping insurance: The card lacks comprehensive travel and shopping coverage compared to other premium cards.

American Express acceptance: Amex is not accepted as widely as Visa or Mastercard.

Other Comparisons

vs American Express Cobalt® Card

vs Rogers Red Mastercard®

vs Scotiabank Gold American Express® Card

vs Scotiabank Passport® Visa Infinite* Card

vs American Express Gold Rewards Card®

vs Simplii Financial™ Cash Back Visa* Card

vs American Express® Green Card

vs MBNA Rewards World Elite® Mastercard®

vs SimplyCash™ Preferred Card from American Express

vs Amazon.ca Rewards Mastercard®

vs Tangerine Money-Back Credit Card

vs BMO CashBack® World Elite® Mastercard®

vs CIBC Costco Mastercard

vs Scotia Momentum® Visa* Card

vs American Express® Aeroplan®* Card

vs American Express® Aeroplan®* Reserve Card

vs American Express Platinum Card®

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%.