RBC ION+ Visa vs Scotia Momentum® Visa* Card: Which one is better?

RBC ION+ Visa

More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Scotia Momentum® Visa* Card

More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Finly Rebate

N/A

Finly Rebate

$70 Cash Rebate from FinlyWealth

Rewards Breakdown

Annual Rewards

$418.24

RBC ION Avion

Welcome Bonus

$70

RBC ION Avion

Annual Fee

$48

First Year Value

$440.24

$370.24 in years after

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

Rewards Breakdown

Annual Rewards

$309.89

Welcome Bonus

Annual Fee

$39

First Year Value

$270.89

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

Insurance Included

Purchase Protection

90 days

Extended Warranty

Up to a year

Mobile Device Insurance

$1,000

Insurance Included

Purchase Protection

90 days

Extended Warranty

Up to a year

Extra Benefits

Gas Discount

save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada

Extra points

50 Be Well points for every $1 spent on eligible products at Rexall

Extra Benefits

Car Rental Discount

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

Interest Rates

Purchase:

20.99%

Cash Advance:

22.99%

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Annual Fee

$48

Annual Fee

$39

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required

Min Personal Income:

$60,000

Min Household Income:

$100,000

Welcome Bonus

Get 12,000 Avion points upon approval

Welcome Bonus

N/A

Rewards Rate

3 points for every dollar in Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming & Subscriptions Purchases
1 point 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

RBC ION Avion

Loyalty Program

N/A

Point Redemption Options

Most Optimal

Transfer to WestJet

1¢ / point

Travel

0.6¢ / point

Financial Products

0.83¢ / point

Gift Cards

0.72¢ / point

Merchandise

0.7¢ / point

Statement Credits

0.58¢ / point

Point Redemption Options

Not Applicable

Is this card worth it?

This card is not by any means one of our favorite cards. For an annual fee it offers almost no notable benefits, with many no annual fee credit cards offering much more. The points earned are fine, but given the inflexibility of ION Avion points, it's very hard to get good value for the points earned, and it's much easier to earn more and do the same with some other credit card reward programs.

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

Insurance coverage is very little for a card with annual fee. There are cards with no annual fee that offer even better benefits.
Avion reward points are generally not very flexible and not as valuable if not used for WestJet travel; therefore, if that's not your plan, there are many better cards that can be used.
The annual fee isn't justifiable based on the reward program this card offers.

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

Bonus saving of 3 cents per liter on gas at Petro-Canada stations.
12,000 avion points welcome bonus.

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.