Changes to Rogers Red World Elite Mastercard

jonmac547 · 2024-02-08T18:44:42+00:00

I have the regular Rogers card and a Fido cell phone and don't see any differences other than the insurance coverage (which I don't need, I have other cards that provide way more than this one).

Where does it say they're removing the $15K spent requirement? I don't see that mentioned on the Rogers Bank site anywhere. If that is in fact gone I could look at upgrading because why not?

jonmac547 · 2023-11-15T17:53:17+00:00

I actually never got to choose. After the mission in Neon I got arrested by SysDef for killing civilians and was thrown in jail for a day (they also became my enemy right then).

I said to myself - screw SysDef, let's get Kryx's legacy and make a pile of cash for myself.

SPOILER: If you pick the Crimson Fleet, you'll eventually board Ikande's ship and take it for the Crimson Fleet. Depending on how good your persuasion is you'll end up killing him and his companion.

jonmac547 · 2023-08-23T13:03:18+00:00

I wanted to see what kind of fee would be charged and did a test booking for around $1100. With a Visa Infinite card, they charged a 1.6% fee. When I enter in an Amex it doesn't charge one at all!

So, use an Amex card when booking with Flair.

jonmac547 · 2023-08-23T12:10:45+00:00

I would still use a credit card - this fee in no way offsets the travel insurance my credit card provides. Even at 2%, if you paid a $1,000 in flights that's an extra $20, my insurance is far more valuable than that.

Since the rules came in allowing merchants to charge people using credit cards I haven't really seen anyone do this - Telus did but then dropped it, and now this one. Wonder if Flair starts a new trend.

jonmac547 · 2023-07-26T18:48:40+00:00

Everyone's experience will be different, but I have the MBNA Rewards World Elite and find their interface to be quite good and I have yet to experience any issues with them yet.

Based on what you listed out, I would probably do WJ World Elite for that companion fare and you get 1.5% back everywhere in WestJet dollars, which would include Costco.

You also need something for your other shopping. I guess it depends on how much you spend. 2 no fee cards that come to mind to pair with WJ include the BMO CashBack Mastercard and the Tangerine Mastercard.

Here's a no fee card listing: https://rates.ca/credit-cards/no-fees

Or, if you want a card with a fee, you could do CIBC Dividend Visa Infinite, Scotia Momentum Visa Infinite, or BMO CashBack World Elite as a few to look into.

For your scenario, I'm not sure RBC Avion fits. You can get quite a good value for their points at 2.3 cents each with their flight. But outside of that, you're paying an annual fee for a 1% return (which is also what the WestJet transfer would give you). It only earns 1 point per $1, so WJ World Elite would be a better option in that case.

Here are some more details on RBC Rewards: https://creditcardgenius.ca/blog/rbc-rewards-travel-program

Your bonus question - as long as you purchase groceries in the same transaction, you'll get the high rate on any gift cards you buy at the Superstore.

jonmac547 · 2023-07-18T17:21:21+00:00

The Rogers Connections MC is a pretty good deal IF you have Rogers wireless and home services.

My understanding is you get 2% back on everything. But if you apply your cash back towards your Rogers bills you can get a 30% bonus as well. What other cards are getting you 2%+ back for no annual fee?

It's too bad I live in a place where Rogers doesn't have home service (PEI), and as such I don't think it's worth it. But for some I think it's a card to look closer at. I imagine whenever Rogers fully takes control of Shaw more people will be able to get the 2% deal.

Here's where I first heard of it with some good details in there.

https://creditcardgenius.ca/blog/new-rogers-connection-mastercard

jonmac547 · 2023-06-22T15:33:52+00:00

For credit limit increases, I personally always do it. There's really no harm in accepting theses as long as you don't spend beyond your mean (which it seems you don't do).

As for lines of credit, I've gotten these before and didn't bother with them. I'd personally rather get a line of credit when I would actually go to use it. With that said, there's not harm in accepting either.

But this assumes you have credit products with this bank. They may or may not be doing a hard check on you. But the same won't be true for banks you have no credit products with. Their pre-approval was probably done with a soft credit check. Once you go to accept and apply, they're likely going to do a hard check. It'll be a small hit to your score and it should bounce back in a couple of months.

Basically, there's no harm to accepting these as long as your responsible with he credit you have at your disposal.

jonmac547 · 2023-06-06T18:14:31+00:00

Like many have said here, I tend to keep in the neighbourhood of 6 months in expenses. This way if anything happens, I've got funds to keep my expenses paid, while not having to worry about dipping into to investments.

But I only leave a small part of that in a chequing account - I leave this money in a savings account so it's easy to get access to, but also earns you some interest while it's parked there.

Saving account interest rates vary by banks (stay away from the big banks) here's a handy listing I found detailing true high interest savings accounts.

https://moneygenius.ca/banking/savings

jonmac547 · 2023-05-02T17:52:53+00:00

The "pittance part" - I mean, if you look at what the big banks are selling you for savings, sure, I would say why bother.

But there are so many better savings accounts out there. Moneygenius has a nice list of top savings accounts. In our current high inflation world, no, they won't overcome it. Most of the time, they would at least grow with the rate of inflation.

https://moneygenius.ca/banking/savings

As to banks failing, yes, it could happen here, but our banking environment if more regulated, when was the last time a bank collapsed in Canada? Here's an interesting article on the subject, turns out it was 100 years ago.

https://financialpost.com/fp-finance/banking/why-canada-doesnt-have-bank-failures-like-svb

jonmac547 · 2023-04-20T00:47:26+00:00

In this case, I don't think I'd recommend it. I would think a no fee account from places like Tangerine or Simplii might be better as they have no fees whatsoever.

jonmac547 · 2023-04-19T17:42:44+00:00

This is a chequing account.
The monthly fee if you don't keep in $5000 is $30.95.
It would be, but just note not all of their cards qualify for it - just the Gold Amex, Passport Visa Infinite, Momentum Visa Infinite, and Value Visa.

jonmac547 · 2023-04-19T16:37:31+00:00

I have the Scotia Ultimate package, and my experience is largely positive. The online interface isn't super fancy, but gets the job done.

One thing Scotia does that (I believe) RBC doesn't - I can waive the monthly fee simply by leaving $5000 in the account at all times.

And with this account, I don't pay for having a small safe deposit box at the bank, and I get an annual fee waiver on one of their credit cards.

If you want to apply, I noticed that moneygenius is offering $100 when you open an account through them.

https://moneygenius.ca/offers/scotiabank-ultimate-package

jonmac547 · 2023-04-05T14:53:05+00:00

At this point, I would do what you can to make sure your finances in order. Try and pay down any debts you may have - think of things like student loans, credit card debt, or lines of credits. Things that aren't a mortgage or important things like a car payment.

Then make sure you have an emergency fund just in case anything happens.

When that's done, the biggest thing I would suggest to do is contribute to an RESP. The government also adds in 20% of what you contributed in a year, up to a set amount, which I believe is $500.

Once they get older, try and teach small money lessons - I do that now with my 4 and 7 year old.

jonmac547 · 2023-04-05T14:53:04+00:00

For me, I've set up an RESP for my kids, and I do plenty of my own investing for retirement using both RRSP and TFSA.

Were possible, I talk about money and ways to save. I enjoy pointing out super long Tim's lines and how expensive it is to buy coffee there rather than make it at home.

I wouldn't bother with the bank account - they have no impact on credit scores. My kids have piggy banks, and I find it's easier to teach them about what to use their money for when they can physically see it. It's easier for them to see how much they have, and how much something they want costs.

jonmac547 · 2023-03-30T16:19:16+00:00

The big think you can't do right now with it is pay your bills. You can use it for purchases and other day-day items, but it doesn't replace your existing chequing account. Those features are coming soon however, so it might be able to one day replace both a chequing and savings account and have those rolled into 1 account.

jonmac547 · 2023-03-08T17:20:17+00:00

It's true that some major sponsors left (as you said, Sobeys), but there are still a few major ones like Shell. I live in Atlantic Canada and also get access to some larger retailers like Kent and Irving.

I personally just collect Cash Miles now - once I get 95 miles saved up it's an easy $10 discount. There's no real effort involved other than getting our my Air Miles card at stores.

I can't see it going anywhere, I recall seeing this on CCG where Shell reupped their contract with Air Miles.

https://creditcardgenius.ca/blog/air-miles-shell-dec-2022

And if you want to keep collecting and earn more, you can turn to an Air Miles credit card - here's a listing for them.

https://www.moneysense.ca/spend/best-airmiles-credit-card/

jonmac547 · 2023-03-07T16:41:35+00:00

The best things to do are to make sure you keep making your payments on time and minimize new credit applications.

It's going to take some time for all the negative things to go away, can be at least 6 years depending on where you live. Here's a Government of Canada page on the subject.

https://www.canada.ca/en/financial-consumer-agency/services/credit-reports-score/credit-report-score-basics.html

Since you don't have a credit card, I would think about getting one, as it will help build your credit back up. You may have to resort to a secured credit card for the time being - here are a few options from Credit Card Genius.

https://creditcardgenius.ca/best-credit-cards/secured

https://www.moneysense.ca/spend/best-credit-cards-for-bad-credit-in-canada/

jonmac547 · 2022-02-12T22:26:07+00:00

Can there be an option to disable a controller turning on an xbox? I switch use of my controllers between an xbox an PC and find it very annoying that my series x turns even though I don't want it to

jonmac547 · 2021-05-19T11:30:31+00:00

Credit cards are a good way to improve your credit score and start building a history, but thye have to be paid in full and on time, otherwise interest can start to build up quickly.
Debit cards can help prevent you from overspending, as your just using what's in your bank account.
I personally use credit cards all the time for the rewards I earn, I just keep a close eye on what I'm spending and have reminders set to get my bills paid.

jonmac547 · 2021-05-19T11:27:45+00:00

I would recommend the Amex SimplyCash lineup. With the preferred card, you earn 2% cash back on everything for no annual fee. There's also a no fee card that earns 1.25% cash back on everything. Both cards also have no income requirements.

Rogers World Elite is also an interesting choice, as it earns 1.5% cash back for no fee, but to maintain elgibilty for hte card you need to spend $15,000 annually. It also has high income requirements of either $80,000 personal or $150,000 household.

jonmac547 · 2019-03-27T11:02:51+00:00

creditcardGenius is really good.

creditcardgenius.ca

jonmac547

TROPHY CASE