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PC World Elite Mastercard

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Scotia Momentum® Visa* Card

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PC World Elite Mastercard vs Scotia Momentum® Visa* Card: Which one is better?

PC World Elite Mastercard

3.1

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

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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

$70 Cash Rebate from FinlyWealth

Rewards Breakdown

Annual Rewards

$266

PC Financial

First Year Bonus

$100

PC Financial

Annual Fee

First Year Value

$366

$266 in years after

Based on $2,000/mo average spending. 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

Doubled up to a year

Purchase Protection

90 days

Car Rental Damage & Theft

Up to 31 days

Emergency Out of province Medical

$1M, Up to 10 days

Insurance Included

Extended Warranty

1 year

Purchase Protection

90 days

Extra Benefits

Concierge Services

Identity Theft Assistance

Extra Benefits

Car Rental Discount

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

Interest Rates

Purchase:

21.99%

Cash Advance:

22.97%

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:

$80,000

Min Household Income:

$150,000

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus

100,000 PC after approval of the application

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

45 points per $1 dollar spent at Shoppers Drug Mart® stores

30 points per $1 dollar spent at Atlantic Superstore, Extra Foods, Fortinos, Loblaws, Maxi, Maxi & cie, no frills, Provigo, Real Canadian Superstore, SaveEasy, SuperValu, valu-mart, Your Independent Grocer, Zehrs

20 points per $1 spent in PC travel

19 points per $1 dollar spent at ESSO and Mobil (it's 30 points per liter and the assumption of average gas price of $1.6 was made)

10 points per $1 dollar spent for 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.

Loyalty Program

PC Financial

Loyalty Program

N/A

Point Redemption Options

Groceries

0.1¢ / point

Gas (Esso)

0.1¢ / point

Point Redemption Options

Not Applicable

Is this card worth it?

This is a great card to have in your arsenal if you frequently shop at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations, as you will earn significant rewards in these categories. The additional benefits, such as out-of-province medical insurance, car rental damage insurance, and concierge service, are impressive and typically only come with cards that have annual fees; however, you can access these benefits for free with this card. We do not recommend using this as your primary credit card but as a supplement to another primary card, especially because there are no fees. This is because the rewards on purchases outside the mentioned shops are very average, and many other cards offer much more substantial rewards for general use.

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

Out-of-province medical insurance, concierge service, and car rental damage insurance—benefits that are usually included with cards that have fees—are included with this card.
Decent rewards on purchases at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations.

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

Many other high-spend categories don't earn as many rewards. Shopping at any other grocery chains, gas stations, or pharmacies will only give the base reward rate, and restaurant purchases and purchases in other categories don't earn much either.

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.