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If you’re a typical Canadian consumer, you likely come in contact with at least one Rogers product a day; your mobile phone, your cable - even your skyline, if you’re a resident of the GTA. Now, the telecommunications giant is looking to enter your wallet too, with a new rewards credit card to be launched in 2014.

Rogers received the final authorization from OSFI this week, acquiring their banking license and officially paving the way to joining the sector. While they’re far from the first retailer to dabble in financial services - Canadian Tire and Walmart offer credit cards of their own - Rogers is the first telecommunications company to make the leap.

Points Will Save On Services And Upgrades

The new credit card will accompany Rogers’ loyalty program, which was launched in July and is currently being rolled out across Canada. The card will earn Rogers First Rewards points, which can then be cashed in on Rogers services and upgrades - a fairly practical money saving option as far as rewards go.

Will Consumers Go For It?

This program is part of efforts to improve Rogers’ customer relations and perception, as they strive to make existing consumers feel as valued as new signups - something Canadian mobile providers don’t have a great rep for. After all, anyone on the hunt for a new carrier has their pick of rock bottom rates and extra services - but irate tales from existing clients about shoddy customer service are all too common.

However, the Big Three have been upping their game in anticipation of the now defunct Verizon entrance to the Canadian market, and in the aftermath of regulatory changes prohibiting three-year contracts. Just goes to show that choice makes for a better consumer experience!

While Canadians love their credit card rewards, it remains to be seen whether they’ll go for the new Rogers option - especially if they’ve logged time on the customer retention line.

Are you interested in the new Rogers credit card?

Penelope Graham

A first-time homeowner and newbie investor, Penelope Graham is the quintessential millennial, navigating the world of personal finance and wealth management. A self-professed monetary policy nerd, she follows the often-controversial housing market closely and specializes in mortgage, credit card and personal finance news.

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