FinlyWealth

Amazon.ca Rewards Mastercard®

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Scotia Momentum® Visa* Card

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Amazon.ca Rewards Mastercard® vs Scotia Momentum® Visa* Card: Which one is better?

Amazon.ca Rewards Mastercard®

3.1

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Scotia Momentum® Visa* Card

3.1

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Finly Rebate

N/A

Finly Rebate

$60 Cash Rebate from FinlyWealth

Rewards Breakdown

Annual Rewards

$251.84

First Year Bonus

$150

Annual Fee

First Year Value

$401.84

$251.84 in years after

Based on $2,000/mo average spending and assuming you are an Amazon Prime member as the primary account holder. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$315.05

First Year Bonus

Annual Fee

$39

First Year Value

$276.05

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

Extended Warranty

Up to a year

Purchase Protection

90 days

Insurance Included

Extended Warranty

1 year

Purchase Protection

90 days

Extra Benefits

Car Rental Discount

10% off base rate of Avis Rent A Car and Budget Rent A Car

Trip and legal Assistance

Yes

Extra Benefits

Car Rental Discount

25% off base rate of Avis Rent A Car and Budget Rent A Car

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Balance Transfer:

2.99% introductory for 6 months, then 22.99%

Annual Fee

$39

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus

Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants for up to 6 months. Up to $150 cashback on top of the normal cashback earned.

Welcome Bonus

Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)

Rewards Rate

2.5% cashback on Amazon.ca, Whole Foods and foreign currency transactions IF a prime member
Only 1.5% on Amazon.ca and Whole foods and 1% on foreign currency transactions IF not a prime member
1% cashback on everything else

Rewards Rate

2% cashback on gas, groceries, drug store and recurring payments (maximum $500 annually)
1% cashback on all other credit card purchases.

Is this card worth it?

If you are a Prime member and want to maximize your cashback on your Amazon purchases, then this card is the best option for that specific purchase category. However, for other purchases, many other cards offer better benefits and rewards.

Is this card worth it?

The Scotiabank Momentum Visa is a low annual fee cash back card that offers impressive earn rates on a variety of everyday spending categories, making it an excellent choice for those who want to maximize rewards without the higher cost of its Visa Infinite counterpart.

Pros

If you are a Prime member, the 2.5% cashback offered on Amazon purchases is unbeatable in terms of rewards compared to other credit cards.
The 2.5% cashback on all foreign currency transactions helps to offset the extra 2.5% fee.

Pros

Cash Back Rewards: Earn up to 2% cash back on purchases.
Low Balance Transfer Rate: Benefit from a 2.99% rate on balance transfers for the first 6 months.
No Welcome Bonus: No initial sign-up bonus, keeping things straightforward.

Cons

It offers very little on non-Amazon and non-Whole Foods purchases, with many other well-rounded credit cards out there that offer much more.
Very limited benefits.

Cons

Limited Insurance Coverage: Only basic insurance is included.
Annual Rewards Payout: Cash back rewards are paid out once a year as a statement credit.