Keep in mind that Rogers is devaluing the earnings power of their cards starting May 23. See here:
https://rogersbank.com/en/notification
Ugh, I did not notice that, but I guess I am not surprised. While decreasing the earn rate, the did also eliminate the yearly fee, which is interesting. Here's is the calculation based on the new earn rate on the Rogers Platinum card (Changes in
red):
Rogers Platinum Mastercard:
2.5% FX Fee
3% (was 4%) Cash Back on Foreign Currency Transactions
Charge Amount = $5,644.00 USD x (1.293253012 + .025) = $7,440.22
Dollars Earned on $7,440.22 =
$217.76 (note this is 3% of $7,258.75, which is the value Rogers used when calculating the points)
Net Cdn Cost for $5,644.00 USD Transaction = $7,440.22 - $
217.76 =
$7,222.46
Brim Mastercard:
(assuming $0 fee card, earning 1 point for every dollar spent and $.01 per point, net of 1% cash back. You can increase this, but the fee on the card goes up substantially)
0% FX Fee
1 Point Back per $1.00 Spent
Charge Amount = $5,644.00 USD x 1.293253012 = $7,299.12
Points Earned = 7,299.12
Dollars Earned on 7,299.12 at a rate of $.01 per point = $72.99
Net Cdn Cost for $5,644.00 USD Transaction = $7,299.12 - $72.99 =
$7,226.13
HomeTrust Visa:
(Earns at the same rate as the $0 Brim Mastercard, 1% cash back on purchases. Also assuming that Visa and Mastercard use similar exchange rates)
0% FX Fee
1% Cash Back per $1.00 Spent
Charge Amount = $5,644.00 USD x 1.293253012 = $7,299.12
Dollars Earned on $7,299.12 at a rate of 1% Cash Back = $72.99
Net Cdn Cost for $5,644.00 USD Transaction = $7,299.12 - $72.99 =
$7,226.13
Difference: $7,226.13 - $7,222.46 = $3.67 More Paid with Brim Credit Card and Home Trust Visa
Well, it looks like Rogers brought their card almost exactly in line with the Home Trust Visa, and the new Brim Mastercard. The Brim has some unique features that interest me, so I have applied for that one. Note that it is in pre-release, so no idea when the card will come out.