A user-generated r/PersonalFinanceCanada discussion asks which Mastercard Costco shoppers might consider after Rogers Bank announced changes to its rewards program. The thread is a source of individual opinions, not verification of card terms or a recommendation.
The premise needs an important distinction. An eligible Rogers customer currently earns 2% cash back on ordinary Canadian-dollar purchases with the Rogers Red World Elite Mastercard, including eligible Costco purchases. The often-described 3% value comes from redeeming those rewards at 1.5 times their regular value against an eligible Rogers purchase; it is not a direct 3% earn rate at Costco.
Rogers Bank's notice says that on November 18, 2026, the 1.5x redemption value will end and rewards will redeem at one cent per point. A new 5% earn rate will apply only to defined eligible Rogers purchases, such as certain Rogers, Fido or Shaw bills and qualifying online purchases. It does not turn Costco spending into a 5% category. Card comparisons should therefore separate earn rate, redemption value, annual limits, fees and insurance rather than treating one headline percentage as interchangeable with another.