Rogers Red World Elite® Mastercard® vs SimplyCash™ Preferred Card from American Express: Which one is better?
Rogers Red World Elite® Mastercard®
5
RECOMMENDED CREDIT SCORE
SimplyCash™ Preferred Card from American Express
4.5
RECOMMENDED CREDIT SCORE*
Finly Rebate
Finly Rebate
N/A
Rewards Breakdown
Annual Rewards
$720
Welcome Bonus
$0
Annual Fee
$0
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
$513.59
Welcome Bonus
$400
Annual Fee
$119.88
First Year Value
$793.71
$393.71 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.svg)
Car Rental Damage & Theft
$65,000
Purchase Protection
90 days
Extended Warranty
1 yearEmergency Medical Over 65
$1M, Up to 3 days
Trip Cancellation
$1,000/person, $5,000 maximum
Trip Interruption
$1,000/person, $5,000 maximum
Trip delay
$150 day, up to 3 days
Insurance Included*
Emergency Out of province Medical
$1M, Up to 10 daysCar Rental Damage & Theft
$65,000Purchase Protection
90 daysExtended Warranty
1 yearFlight Delay
$500
Baggage Delay
$500
Hotel Burglary Insurance
$500
Lost or Stolen Baggage
$500
Travel Accident
$100,000
Mobile Device Insurance
$1000
Extra Benefits
Airport Lounge - Dragon Pass
Pass only, complimentary visits not included
No Cost roaming
5 days
Extra Benefits*
American Express Experiences
Interest Rates
Purchase:
19.99%
Cash Advance:
22.99%
Interest Rates*
Purchase:
21.99%2
Cash Advance:
21.99%2
Annual Fee
$0
Annual Fee*
$119.88
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*
You can earn a $40 statement credit for each monthly billing period in which you spend $750 on purchases with your card during the first 10 months.
Rewards Rate
- 3% cash back on all U.S dollar purchases
- 2% cash back on all regular purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
- 1.5% cash back on all purchases if you do not have 1 qualifying service
Rewards Rate*
- 4% cash back on gas
- 4% cash back on groceries (maximum $1,200 annually)
- 2% cash back on all other credit card 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 Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.
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
- Highest cashback rate on groceries and gas in Canada
- Great base cashback rate for all purchases
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
- For a card with an annual fee, the insurance coverage could have been higher
- American Express has a lower merchant acceptance compared to Visa or Mastercard
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