 Hello everyone, this is financial author Amit Dan of amitdan.com On this channel, you'll find financial travel and more videos just like the one you're watching right now. If you like what you see, just give me the thumbs up and consider subscribing. Hello everyone, this is financial author Amit Dan of amitdan.com today I'll talk about Roger's platinum mastercard and Fido mastercard. There's some important changes coming to these cards and There's another post I have which is about the Roger's world elite mastercard and these posts are related and I'll provide it a Link in the description box below. So let's start with the today's post Roger's platinum mastercard and Fido mastercard And I'll take you to the to my laptop screen for the rest of the video. Thank you Hello everyone, Roger's has decided to devalue its Roger's platinum mastercard and Fido mastercard starting May 23rd 2018 So if you're one of the card holders, you must have received a notification from Roger's via email or via post if not, then Roger's has all the information on the website, which is rogersbank.com And today I'll go over some of the change some of the changes which will be affecting these two cards So one of them is Roger's platinum mastercard and the other one is Fido mastercard so in the past or still now the Roger's platinum mastercard has a 29 dollars per year annual fee this is going to be Eliminated and Fido mastercard didn't have any annual fee So there will not be any annual fee for both of these two cards starting May 23rd account maintenance fee I'm going to talk about that. I'll move on to the earn rate, which is the most important part so in the past Roger's platinum mastercard has Had four percent unlimited cashback on foreign purchases So which would basically eliminating foreign currency fees, which is usually at 2.5 percent So it was still at 1.5 percent gain After paying the foreign currency conversion fee So the total earn rate is 4 percent on any purchases Without anything else but canadian dollars And the regular earn rate is 1.75 percent cashback for all other purchases in canadian dollars So this is a very good rate for a free credit card But this is going to change and starting March 13, I'm sorry, it's starting May 23rd So the earn rate on the Roger's platinum mastercard is going to be 3 percent unlimited cashback on foreign currency, so which is basically reducing your Ink earn after paying the foreign currency conversion fee, which is 2.5 percent So you're going to be at net plus for only half percent and two percent unlimited cashback on Roger's products and services And 1.25 percent unlimited cashback on anything else And the same rate would apply to the Fido Mastercard starting May 23rd 3 percent 2 percent and 1.25 percent Now The reason of these changes is basically they're introducing a new card, which is called the Roger's World Elite Mastercard and these old 4 percent and 1.25 percent rates will be transferred or converted to the Roger's World Elite Mastercard And if you are One of the card holders existing card holders Roger's is sending notification to Those to convert from these regular card to World Elite Mastercard, which has actually higher Income requirements, so it's personal income $80,000 annually and household income $150,000 annually So if you're eligible for that, then it's a good idea to convert to the Roger's World Elite Mastercard Because that card will have higher Earn rate which is to be the old Earn rate for the Roger's platinum mastercard and Fido Mastercard And except that the World Elite Mastercard will be offering Some premium insurance benefits such as a trip interruption trip cancellation And travel medical insurance plus other insurances without any annual fee. So that's a good card to have instead of the regular Roger's platinum mastercard and Fido Mastercard So I have another video on Roger's World Elite Mastercard and I'll provide you a link in the description box below So basically that's what's happening with their Roger's credit cards And There are a few new credit cards appearing on the Canadian credit card market. I have updates on those on my channel so If you are interested to know more about those credit cards, for example, Scotia passport visa infinite card and Dream World Elite Mastercard Both of these cards do not charge any foreign currency conversion fee Just go to my website, my YouTube channel and I'll provide you a link and you'll be able to find out more So that's all for now. If you like what you see, please give it a thumbs up and consider subscribing and there'll be more videos coming up Thank you