Rogers Red World Elite® Mastercard® vs Simplii Financial™ Cash Back Visa* Card: Which one is better?
Rogers Red World Elite® Mastercard®
5
RECOMMENDED CREDIT SCORE
Simplii Financial™ Cash Back Visa* Card
4.2
RECOMMENDED CREDIT SCORE*
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
$342.92
Welcome Bonus
$30
Annual Fee
$0
First Year Value
$372.92
$342.92 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 daysEmergency Medical Over 65
$1M, Up to 3 days
Trip Cancellation
$1000/person, $5000 maximum
Trip Interruption
$1000/person, $5000 maximum.svg)
Car Rental Damage & Theft
$65000
Trip delay
$150 day, up to 3 days
Insurance Included*
Purchase Protection
90 daysExtended Warranty
1 year
Extra Benefits
Airport Lounge - Dragon Pass
Pass only, Complimentary visits not included!
No Cost roaming
5 days
Extra Benefits*
N/A
Interest Rates
Purchase:
19.99%
Cash Advance:
22.99%
Interest Rates*
Purchase:
20.99%2
Cash Advance:
22.99%2
Annual Fee
$0
Annual Fee*
$0
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Income Required*
Min Personal Income:
N/A
Min Household Income:
$15,000
Welcome Bonus
N/A
Welcome Bonus*
10% cash back on eligible restaurants, food delivery and bar purchases for the first 4 months, up to $500†.
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*
- 4% cash back on eligible restaurant, bar, and coffee shop purchases up to $5,000 spent per year†
- 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments up to $15,000 spent per year†
- 0.5% cashback 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?
If you dine out a lot and don't want to pay an annual fee for your credit card, the Simplii Financial™ Cash Back Visa* Card will undoubtedly be one of your best friends with its 4% cashback. Additionally, the card offers a decent cashback rate (1.5%) for gas, pharmacy, and groceries, making it one of the best no-annual-fee cashback credit cards in Canada. However, there are limits on how much you can earn in these categories. Therefore, you need to be careful not to exceed those limits; otherwise, your cashback rate will drop to 0.5% after those spending limits are reached.
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 restaurant purchases in Canada!
- Decent cashback rate on high spent categories such as groceries and gas.
- No annual fee for a card with great rewards.
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
- No insurance and benefits other than the standard purchase protection and extended warranty.
- Cap on the rewards that can be earned on each category.
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