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Regardless of whether or not you’re a current Fido customer, the Fido Mastercard is one to consider if you’re looking for a new card to add to your wallet. With no annual fee and a decent cash back earn rate, you can both save and earn money. And the handy app means you can use your mobile device to make purchases and manage your account on the go.

Let’s take a closer look at the Fido Mastercard to help you decide if it’s worth applying for.

Fido Mastercard Main Benefits

The Fido Mastercard is solid cash back rewards credit card and could be a great option for any consumer looking to earn cash back on their spending, especially those who have a monthly Fido bill.

Cash Back Rewards

With every dollar you spend, you’ll earn cash back rewards that you can redeem for eligible purchases. 

No Annual Fee

The Fido Mastercard does not have an annual fee, which is a great perk for a cash back rewards credit card. 

Mobile Pay

Use your mobile device to pay for purchases with your Fido Mastercard.

Online App

Use the Rogers Bank app to manage your account, redeem rewards, personalize account alerts, and view statements and account activity.

Additional Cards Are Free

If you have a Fido Mastercard and want an additional card to give to a spouse or child, it’s free,

Extra Security Perks

With the Fido Mastercard, the perks don’t end at the cash back rewards. There are a few other benefits to having a Fido Mastercard in your wallet:

  • Account monitoring. Avoid being the victim of fraud with automatic alerts when suspicious activity is detected. 
  • Zero liability. If your card is used by an unauthorized party, you won’t be liable.
  • Balance protection. You’ll be covered for financial issues from unexpected events with Group Balance Protection Insurance.

How To Earn Rewards With The Fido Mastercard

With the Fido Mastercard, you can earn cash back rewards in three different ways, depending on what you purchase.

  • Welcome Bonus. Earn $25 in cash back rewards right off the bat when you make your first purchase within 3 months. 
  • 1% Cash Back. Earn an unlimited 1% cash back on all other eligible purchases. 
  • 1.5% Cash Back. Earn an unlimited 1.5 % cash back on all qualifying subscriptions and recurring payments.

How Much Are Fido Rewards Worth? 

The rewards you earn depend on the type of purchases you make with your Fido Mastercard. 

Let’s illustrate:

  • If you spend $2,500 per month on regular purchases like groceries, and gas, you could earn $300 per year.
  • Then, if you spend $200 per month on subscriptions and recurring payments, you could earn an additional $36 a year.
  • Plus don’t forget to add your $25 welcome bonus.

What Can You Redeem Your Fido Mastercard Cash Back Rewards On?

You can redeem your cash back rewards towards any purchase, there is a Mminimum purchase and redemption amount of $10. Every $1 cash back reward you earn is the equivalent of $1 towards any eligible purchase. There are no restrictions. 

Redeem your rewards through the Rogers Bank app or Pay with Rewards app, or through online banking. Or, redeem your rewards as a statement credit at the end of the year.

Cost Of Owning A Fido Mastercard

The Fido Mastercard comes with the following costs:

  • Annual fee: $0
  • Purchase interest rate: 19.99%
  • Cash advance interest rate: 22.99%
  • Foreign transaction fee: 2.50%
  • Additional cards: free

Eligibility Requirements For the Fido Mastercard

To apply for the Fido Mastercard, you’ll need to provide your name, date of birth, address, contact information and SIN number. You’ll also need to provide your employment and financial information. However, before you apply, ensure you meet Fido Mastercard’s eligibility requirements: 

  • Be a Canadian resident
  • Be the age of majority in your province 
  • Not have filed for bankruptcy within the last 7 years, or worked with a Licensed Insolvency Trustee trustee under a Consumer Proposal

Fido Mastercard FAQS

What credit score do you need to qualify for a Fido Mastercard?

While Rogers Bank does not specify a specific credit requirement for the Fido Mastercard, it’s recommended that you have a good credit score of 660+ to increase your chances of qualifying.

Is there a fee for additional cards?

With Fido Mastercard, you can get an additional card with no extra charges.

Does Fido have a welcome bonus?

Yes, you can get $25 cash back rewards when you make a purchase within the first 3 months of getting your card.

How can I pay my Fido Mastercard?

You can pay off your Fido Mastercard by setting up automatic payments through your bank account. You can also pay your Fido Mastercard bill by visiting your bank in person or by sending a cheque, payable to Rogers bank, by mail.

Is the Fido Mastercard for Fido clients only?

No the Fido Mastercard is available to all Canadians. However, certain recurring bills, like your Fido phone bill may be eligible for higher cash back rewards.

Final Thoughts

If you’re looking for a credit card that comes with no annual fees and offers a simple but high cash back earn rate, then the Fido Mastercard is definitely a card you’ll want to consider. With a high earn rate, a $25 welcome bonus and no fees, you’ll definitely earn more than what the card costs.

Lisa Rennie avatar on Loans Canada
Lisa Rennie

Lisa has been working as a personal finance writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same.

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