Personal Finance

Best MC recomm'd with no annual fee for Costco and Groceries use

  • Last Updated:
  • Dec 15th, 2016 4:57 pm
Deal Addict
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Aug 9, 2010
1341 posts
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Waterloo
Navon01 wrote: It offers 1.75% cash back. I thought others offer 2%...
Also, Rogers MC used to offer 4% on foreign transactions and secretly charged to 1.5%.

I also don't want to give them my business.
I'm sure you had bad experiences in the past with Rogers; my question to you is: so what?

Rogers Bank is a Schedule 1 Canadian Bank, subject to all the laws and regulations of other banks and insured in the same way... I also don't see how you'll be "giving them money" by using the card unless you carry a balance over from month to month and pay 20% interest on it.

It's flat 1.75% CB, matched by the BMO card that requires a $6000 min balance premium account to waive fees, or surpassed by MBNA but you need relatively high income and it's not free.

You have no other options for max cash back at Costco.
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Apr 24, 2017
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Navon01 wrote: It offers 1.75% cash back. I thought others offer 2%...
Also, Rogers MC used to offer 4% on foreign transactions and secretly charged to 1.5%.

I also don't want to give them my business.
No card can offer you 2% without high annual fee. $150 annual fee is the standard for 2% cards. Also you mention Costco..... Rogers MC is the best in your case (grocery and Costco). Even if you are not Rogers/Fido/Chatr customer, annual fee for Rogers MC is just $29, but you get 1.75% back on EVERYTHING, no more calculation, no more categories. Also good for travel (1.5% back effectively).

Yes, it's owned by Rogers, but it's still a decent card. Others don't even come close. That's the truth.
🤑 Amex Cobalt | MBNA RWE | Rogers MC
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Oct 26, 2016
278 posts
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Navon01 wrote: It offers 1.75% cash back. I thought others offer 2%...
Also, Rogers MC used to offer 4% on foreign transactions and secretly charged to 1.5%.

I also don't want to give them my business.
You're misinformed regarding that 4% part. They've changed HOW they do foreign transactions, and lowered it only 0.25%, you've misread the data. The card used to waive the 2.5% foreign transaction fee entirely, and then you got 1.75% cash back. Net gain of 4.25%. They then, not secretly but rather very openly, informed people they would change the system and re-instate the 2.5% foreign transaction fee, but adjust the earn rate on foreign purchases to 4%. Thus the net gain went from 4.25% to 4%.

There was a period of about 3 months, while the system was put in place, where you got 4% cash back as well as no foreign transaction fee, meaning for 3 months the net gain was 6.5%. This was also very openly stated by them to be a temporary thing while they closed off the old system and ported people to the new one. There was no deception here, and the long run people only lost 0.25% on foreign fees. Still the best foreign-transaction card in terms of net gain though.
Deal Guru
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Aug 24, 2016
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Win-ter-peg
crouchingbunny wrote: RBC cashback MC .No annual fee and 2% on groceries.
This is a good option for groceries at Walmart Supercentres, and grocery stores, but it will only net 0.5% at Costco, as Costco is NOT a grocery store on the Mastercard network.
Also the 2% caps at 6k annually, or $500 per month, then drops to 0.5%.
This is a deal breaker for the average Costco shopper. We spend no less than $400 each trip there, and I'm sure larger families drop quite a bit more.
Sr. Member
Nov 21, 2007
663 posts
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Is there any incentives to the rogers MC?
If qualifications are not an issue, is there a better CB rewards card that has no annual fee and is best for groceries and costco?
Deal Addict
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Aug 9, 2013
3352 posts
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Toronto
Navon01 wrote: Is there any incentives to the rogers MC?
If qualifications are not an issue, is there a better CB rewards card that has no annual fee and is best for groceries and costco?
None. They already gave you the best option that you can get for a no annual fee card. Tangerine + Rogers if you have a Rogers services. Or just get the Fido card which has 1.5% cashback on everything.
Member
Oct 31, 2009
404 posts
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Vancouver
thetipster wrote: Then it looks like the only card to give true 2% @ costco is the MBNA RWE, which is $89 fee but you get $60 GCR and $100 bonus.
Second would be 1.75% with Rogers (FYF + $25 bonus) <======== No large annual income needed for this
There's the BMO one with 1.75% but big annual fee, waived with BMO premium account

For other groceries I use the PCF 3% card
Cap1 Aspire WE and BMO WE net you 2% as well. I have the grandfathered-in Aspire, and that is the best card for Costco imo. Not straight cash-back, more like travel related 2% redemption, good enough for me.
Member
Apr 27, 2007
226 posts
21 upvotes
Toronto
Didn't know rogers was 1.75. I think I'm going to do the Tangerine + Rogers combo. Just have to get rid of my Smart Cash Visa.
Sr. Member
Nov 21, 2007
663 posts
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Signed up for the rogers MC. Was able to qualify for the $100 cash rewards since i also was in the midst of renegotiating my cell plan. Thanks everyone!
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May 7, 2007
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coolintheshade wrote: This is a good option for groceries at Walmart Supercentres, and grocery stores, but it will only net 0.5% at Costco, as Costco is NOT a grocery store on the Mastercard network.
Also the 2% caps at 6k annually, or $500 per month, then drops to 0.5%.
This is a deal breaker for the average Costco shopper. We spend no less than $400 each trip there, and I'm sure larger families drop quite a bit more.
After 6k annual cap ... 2% then drops to 1% (not 0.5%) as far as grocery merchants are concerned.

Just sayin' :)
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May 7, 2007
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BMO Cash back MasterCard gave me 2% cash back across the board / on everything....for 6 months...on a 6 m. promo....it will be ending very soon.

Not sure if the promo is still on for new customers or not...but it was good while it lasted.
Besides that...for me it was extra $50 as well.... - a tie up with BMO $350 bank account promo to be able to get $400 back instead of $350 if get bmo mc at the same time you open promo's bank account.
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Sep 15, 2014
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Scarborough, ON
I went with the BMO World Elite.
No annual fee if you have a premium bank account with BMO ($6000 minimum balance = no fee).
This space for rent.
Deal Guru
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Aug 24, 2016
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Darkman wrote: After 6k annual cap ... 2% then drops to 1% (not 0.5%) as far as grocery merchants are concerned.

Just sayin' :)
Yes my bad, thanks for the correction

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