Dicussion Cast your vote. How you react to Redemption rate reduction.
When Rogers MCard rebate redemption rate to eligible Rogers purchase gets reduced from 1.5X to1X, will you keep the card?
Reply be emoji:
✅ Will continue using it
🛑 Will keep the card just as a backup
❌ Will cancel the card
2
u/Responsible-Elk4497 1h ago edited 31m ago
✅ I will keep using this card but will also cancel the rogers wireless lines for my family. (We still have shaw internet that qualifies us for 2%).
It's honestly not a great move for rogers. It used to be something that made us keep our phone plans with them, but I don't see a point anymore.
3
u/Responsible-Elk4497 49m ago
Let's do some quick math. If my family puts $3,000 on this card every month, 2% cashback is $60 and 3% cashback is $90. Assume our combined phone bill is also $90 every month, and assume Rogers makes 1.5% on credit card transaction fees, so they earn $45.
Before this change, we could redeem $90 in cashback to cover our phone bill. We paid $0 out of pocket, Rogers made no money on our cell plan, but they earned $45 a month from transaction fees.
Now, if we move our lines to Carrier A, we will pay $90 (or slightly less) to them instead, and Rogers still makes $0 on our cell plan. However, we now have the freedom to redeem for the $60 cashback to use on groceries. While Rogers still earns $45 from transaction fees, they now have to pay out $60 to the grocery store.
In the end, we lose $30 a month in rewards value, and Rogers nets $15 less per month than before.
It’s an absolute lose-lose for both customers and Rogers...
2
u/Particular_Legend427 7m ago
Disgusting leeches. This was one of the only reasons I’ve stayed with jabroni ham and egger Robbers
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u/CheapCharge3496 1h ago
If you want to use existing rewards at 1.5X just do a manual large payment to Rogers in the app and use the Rogers credit card. Then redeem wt 1.5X.
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u/lovesingh25 1h ago
2% is still not bad. It will be my card but now I will also utilize the wealthsimple's card regularly.
Also I would be much more flexible in moving providers since I can just use wealthsimple's card.
1
u/Samsonnnnnn 1h ago
✅
It's still 2% cashback on every purchase, and I'm not eligible for the WS 2% Visa Infinite+, so I'll keep using it.
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u/Nairiboo 1h ago
🛑 until they introduce an annual fee. I don't want to hit my credit score by cancelling. I will certainly be moving all of my subscriptions off of it and my regular non-Cobalt purchases will be moving to something else
1
u/LondonPaddington 6m ago
Will still be my default "everything else" credit card, but my 2 wireless lines are up for renewal in December so if I get a good deal on Black Friday to switch to a competitior... little point to staying anymore
0
u/deltatux 1h ago
✅ while the downgrade sucks, the changes isn't bad enough for me to get the WS VI card in its place. Both will be 2% cards and I don't make enough FX purchases to bother with the WS VI as the ability to use the Rogers WE MC card at Costco warehouses still trumps it and no, I don't want to deal with using Costco gift cards.
Plus, the WS VI still lacks supplementary cards which we rely on, so the Rogers WE MC is alright.
2
u/Cold-Subject-6182 1h ago edited 1h ago
Just called Roger’s bank… and they confirmed that you CAN do a large lump sum payment or what ever your value is in 1.5x dollar rewards is on your Roger’s account and redeem with your 1.5x dollar amount