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.
Additional Reading
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?
Is there a fee for additional cards?
Does Fido have a welcome bonus?
How can I pay my Fido Mastercard?
Is the Fido Mastercard for Fido clients only?
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.
