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Fido Mastercard®
Credit cards

Fido Mastercard®

Updated 29.11.2022

About Fido Mastercard

The Fido Mastercard issued by Rogers Bank is an attractive option for Fido customers because it allows them to earn cash back and apply it to their Fido bills. This card has no annual fee and can be used for online, offline, and mobile payments.

In addition, the Fido Mastercard offers a welcome bonus in cash back rewards and advantageous security features. The bonus points are earned on recurring payments like Fido bills, streaming services, utilities, etc.

Fido Mastercard features

Fido Mastercard features a zero annual fee and unlimited cash back: 1% on all eligible regular purchases and 1.5% on all eligible recurring payments and subscriptions. Cash back can be redeemed online or using the bank’s app.

The cash back can be applied directly to the Fido bill on such goods as a new phone, accessories, or online purchases on fido.ca.

A welcome bonus of $25 is applied to your first purchase, and you receive another $25 upon registration of your Fido bill for pre-authorized payments.

Additional cards are free of charge. 

There is a low minimal cash-back redemption threshold of $10.

The interest rate on purchases is 19.99%, and on cash advances, 22.99%.

This card makes you feel safe because it supports financial monitoring, which allows it to detect fraudulent activity and stop attempts to steal the cardholder’s money. 

Pros and cons

Fido Mastercard is popular on the market thanks to several advantages offered to the cardholders:

  • no annual fee and free additional authorized cards;

  • easy to understand cash-back earning system;

  • a fraud-protection system, financial monitoring;

  • a $25 welcome bonus;

  • the possibility to apply earned cash back to your Fido bill;

Purchases of eligible goods and services are rewarded with 1%, while purchases in USD are rewarded with 4% cashback. In addition, Rogers bank provides an online calculator that helps to estimate how much the applicant would earn as cashback while using the card, taking into consideration the monthly spending amount, monthly spending on recurring bills and payments, including utilities and Fido bills, etc.

Note: no annual fee is a promo from the card issuer. According to the tariffs, the second year would cost 29$ even if the card was not activated. Thus, it is essential to remember tariffs on your credit cards and keep only the ones you are satisfied with and actively use. It helps to avoid excessive fees.

Although Fido Mastercard has bunches of benefits and is an excellent financial instrument, it is not 100% perfect for some potential customers because it has several disadvantages:

  • foreign transaction fee (a 2.5% fee is applied);

  • a credit score above 640 points is required;

  • the interest rate goes higher if the payments are not made on time.

How to apply for a Rogers World Elite Mastercard

Rogers bank offers online and offline application procedures. If the applicant is unsure whether this card is a good solution, it is possible to have an appointment with the consultant or contact the bank online.

The online application would include the confirmation of the customer that they did not file for bankruptcy within the last seven years, of the age of majority, etc. Further, the applicant has to confirm that the tariffs were shown and accepted.

The card issuer makes an internal decision on the approval of the application. Still, the following criteria have to be met when applying to increase the chances of a favorable decision:

  • Canadian citizenship or permanent resident status;

  • age of majority;

  • legal capacity to sign documents and enter into contracts;

  • a credit score of over 640 points;

  • no insolvency or bankruptcy procedure on the applicant within the past seven years.

What credit score is required to be approved for a Fido Mastercard?According to the available sources, the applicant’s credit score should be above 640 points.
Does the Fido Mastercard have a foreign transaction fee?Yes, except for the currency exchange rate, the cardholder must remember the 2.5% foreign transaction fee the card issuer applies.
Is a credit check needed to get approved for a Fido Mastercard card?Yes, a credit check is required, and the bank verifies not only the credit score (it should be above 640 points) but whether the applicant had bankruptcy or insolvency procedure within the past seven years.
Rate
i

Effective interest rate on the product

19.99% - 22.99%

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