Scotiabank Gold American Express® Card vs BMO CashBack® World Elite® Mastercard®: Which one is better?
Scotiabank Gold American Express® Card
4.9
BMO CashBack® World Elite® Mastercard®
4.2
Finly Rebate
Now $150 until Nov 30, 2024
Finly Rebate
N/A
Rewards Breakdown
Annual Rewards
$644.5
Scene+
First Year Bonus
$450
Scene+
Annual Fee
$120
First Year Value
$1,094.5
$524.5 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$500.78
First Year Bonus
$190
Annual Fee
$120
First Year Value
$690.78
$380.78 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Lost or Stolen Baggage
$500/person, $1000/tripBaggage Delay
$500/person, $1,000/trip After 4 hoursCar Rental Damage & Theft
$65K up to 48 daysTravel Accident
$500K/person, $1M/occurrenceExtended Warranty
Up to 1 yearPurchase Protection
90 daysHotel Burglary Insurance
$1000/occurrenceEmergency Out of province Medical
$1M, Up to 25 daysFlight Delay
$500/personMobile Device Insurance
$1,000Emergency Medical Over 65
$1M, Up to 3 daysTrip Cancellation
$1500/person, $10000/tripTrip Interruption
$1500/person, $10,000/trip
Insurance Included
Lost or Stolen Baggage
$500/person, $1000 maximumBaggage Delay
$500/person, $1000 maximum After 6 hoursCar Rental Damage & Theft
$65,000 up to 48 daysTravel Accident
$500,000Extended Warranty
Up to a yearPurchase Protection
90 daysHotel Burglary Insurance
$1000Emergency Out of province Medical
$5M up to 8 days per covered personFlight Delay
$500 After 4 hours delay
Extra Benefits
No Foreign Transaction Fees
Avoid the 2.5% foreign transaction fees incurred when spending in non $CADConcierge Services
Discount
Discount on PriorityPass MembershipAmerican Express® Experiences
Extra Benefits
Car Rental Discount
25% off base rate of participating National Car Rental and Alamo Rent a CarAirport Lounge - Dragon Pass
Pass only, complimentary visits not includedGas Discount
Get up to seven cents off per litre on Shell® fuelRoadside Assistance
Includes free battery boosts, flat-tire change, lockout service and towingHotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookingsBoingo Wi-Fi hotspot
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates
Purchase:
20.99%
Cash Advance:
23.99%
Annual Fee
$120
$0
First Year Waived
Annual Fee
$120
$0
First Year Waived
Income Required
Min Personal Income:
$12,000
Min Household Income:
$12,000
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Welcome Bonus
Earn 25,000 bonus Scene+ points by making at least $1,000 in everyday eligible purchases in your first 3 months. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.
Welcome Bonus
Get up to 10% cash back in your first 3 months with an incremental cashback value of $200
Rewards Rate
- 6 Points per $1 spent at Sobeys, Safeway, IGA, Foodland & Participating Co-ops
- 5 Points per $1 spent on eligible dining, other grocery stores, entertainment purchases including movies, theatre, and ticket agencies
- 3 Points per $1 spent on rides which includes rideshare, buses, taxis, subways and more
- 3 Points per $1 spent on eligible streaming service payments (Netflix, Spotify, Disney+, Crave and more)
- 1 Point per $1 spent on all other eligible purchases
Rewards Rate
- 5% cashback on groceries (maximum $25 per statement)
- 4% cashback on daily transit (maximum $12 per statement)
- 3% cashback on gas (maximum $9 per statement)
- 2% cashback on recurring payments (maximum $10 per statement)
- 1% cashback on all other credit card purchases.
Loyalty Program
Loyalty Program
N/A
Point Redemption Options
Entertainment
1¢ / pointTravel
1¢ / pointGroceries (Sobeys)
1¢ / pointRestaurants
1¢ / pointMerchandise
0.76¢ / pointGift Cards
0.74¢ / pointStatement Credits (Cash)
0.7¢ / point
Point Redemption Options
Not Applicable
Is this card worth it?
The Scotiabank Gold American Express® Card is one of our favorite cards. It has a very solid rewards program, earning one of the highest rewards among all credit cards in Canada. In addition, it offers comprehensive travel benefits, including the rare and valuable no foreign transaction fee benefit, making it a great and balanced credit card in terms of both rewards and benefits. The first-year annual fee waiver is the cherry on top, providing even greater value to cardholders.
Is this card worth it?
If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.
Pros
- No foreign transaction fee saves you 2.5% on all non-CAD purchases.
- Rewards cover all high-spending categories, including food, groceries, entertainment, and gas.
- Comprehensive coverage of all travel insurance.
Pros
- Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
- Includes roadside assistance, a rare but valuable benefit for people on the road.
- Provides a comprehensive list of insurance coverage and benefits.
- High first-year value.
Cons
- The card network is American Express, which might not be widely accepted in some countries, making it a bit harder to use the no foreign transaction fee benefit.
- Having a lounge pass would have made this card even more perfect, but there is access to a discount code for lounge access pass purchases.
Cons
- Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
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