 What is the one thing in common great card view sites like money sense rears Canada greedy weights and 99% all others have They're all working for the credit card companies Selling credit cards by providing affiliated links to make money off you You're not gonna get honest and unbiased opinions from the sites If you're looking for an independent honest and non-affiliated sites, then you have come to the right place Hello everyone, this is Amit down of Amit down.com and today I'll talk about the deep devaluation is going to hit a Popular Canadian cashback credit card Rogers world elite master card I'm going to go through all the changes that are coming to the Rogers World League master card And if there are other credit cards, you can replace Rogers world elite master card. So let's look at the cashback rate Currently this card offers 4% on purchases in any currency including US dollars and this is going to be only 3% cashback on purchases made at US dollars is starting June 2nd, but if you make the Make purchases in any other currency except US dollars that your rate of return is going to be only 1.5% So what it means that whenever you're purchasing anything using this card, there's a 2.5% foreign currency conversion fee Until now you'd be on the positive side because of the 4% rate of return which you'd offset 2.5% and you'd still get 1.5% But starting June 2nd Only in US dollars you're going to get 3% Which is going to be at you know, half percent rate of return after you subtract 2.5% from 3% but if you're making purchases in any of the currency then The rate of return is 1.5% so after considering a 2.5% foreign exchange fee what it means that you're at a loss for 1% so you're actually minus 1% rate of return on any currency so that's a very big devaluation and You shouldn't be using this card anymore to make foreign currency transactions except US dollars Now let's go to the regular rate of return starting June 2nd. So right now 1.75% on all transactions and 2% on Rogers transactions For example if you buy something from Rogers or pay your bills then you get 2% But this is going to be 1.5% flap on all purchases starting June 2nd So this is a big devaluation because you know you're losing 1.75% on everything and it's going to be one You're losing 1.75% on everything and it's going to be 1.5% now These devaluations were not big enough. They made another big devaluation to this card, which is right here So there is a $15,000 annual spending requirement What it means that you know if you do not spend $15,000 every year is starting August 1st to July 31st Then they're going to Switch it to another lower earning Rogers credit card So this is a very big devaluation because you know the other devaluations I just talked about was not enough now. They are even putting a Minimum spending requirement, which is $15,000. So after all these this is definitely not a good card to keep anymore and This is my guess that most of the people you know who have this card Now they're going to be switched to other credit cards Now I'm going to just you know quickly look at the parts and benefits this card offers, which are not that great But let's talk about them anyway. So They're adding a new benefit which is boingo global Wi-Fi. I Have used this benefit with my other credit card. This is really not a good benefit. I tried using a Wi-Fi in Sydney Melbourne Singapore Taipei Kuala Lumpur many other countries it never worked. So this is a benefit, which is just there But it usually doesn't work. So adding this benefit is not going to you know, give you really any benefits it's just you know on paper and They're saying that this is going to be a new benefit and except that these benefits are already existing benefits And these are this card provides some insurances for example Extended warranty and purchase protection and rental car collision damage insurance emergency medical travel insurance trip interruption and trip cancellation insurance and it offers master card airport experiences lounge membership now This is another benefit which has no meaning. So what it means that you know, they're not giving you any free lounge access They're just giving the membership if you want to still use a lounge you have to pay 32 US dollars per visit So basically having this benefit doesn't mean anything because there are other credit cards Which you can have which keeps you free lounge access not just a membership. So this benefit means nothing So now I'm going to talk about some other credit cards Which you can use to replace the Rogers or a master card as some of them have annual fees and some of them don't Let's go over them American Express a simply cash preferred credit card which offers 2% flat cash back on everything which has $99 an old fee then we have Scotia momentum visa infinite credit card which has hundred twenty dollars an old fee and it offers 4% return on Grocery and recurring bills 2% on gas and transit and 1% on everything else and if you're looking for a free cashback credit cards, then you have Tanshorin Moneyback master card, which is free and it offers 2% return on three categories You can choose and half percent on everything else and then there's another card Which is simply cash and American Express, which is also free and it offers 2.1 point 2.25 percent flat cash back on everything So after all these changes and the 15,000 minimum spending requirement You know, you have to just take a hard look at this card This card is to be one of the best Canadian cashback credit cards now this is going to be converting to a one of the worst Canadian cashback credit cards and I've been actually, you know reading some of the online forums and everything and you know Looks like everyone is going to be looking for alternative credit cards. So that's all for today. Thank you for watching this video Forget about subscribing this channel forget about liking this video. There'll be more videos coming up. So I'll see you shortly. Thank you