Scotiabank Gold American Express® Card

Scotiabank Gold American Express® Card

Apply Now
BMO CashBack® World Elite® Mastercard®

BMO CashBack® World Elite® Mastercard®

Apply Now

Scotiabank Gold American Express® Card vs BMO CashBack® World Elite® Mastercard®: Which one is better?


Scotiabank Gold American Express® Card

Scotiabank Gold American Express® Card

4.9


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

BMO CashBack® World Elite® Mastercard®

BMO CashBack® World Elite® Mastercard®

4.2


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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 baggage

    Lost or Stolen Baggage

    $500/person, $1000/trip
  • hourglass timer

    Baggage Delay

    $500/person, $1,000/trip After 4 hours
  • car insurance

    Car Rental Damage & Theft

    $65K up to 48 days
  • heart lock

    Travel Accident

    $500K/person, $1M/occurrence
  • extended warranty

    Extended Warranty

    Up to 1 year
  • purchase protection

    Purchase Protection

    90 days
  • burglar

    Hotel Burglary Insurance

    $1000/occurrence
  • travel accident medical

    Emergency Out of province Medical

    $1M, Up to 25 days
  • hourglass timer

    Flight Delay

    $500/person

  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • travel accident medical

    Emergency Medical Over 65

    $1M, Up to 3 days
  • cancel airplane

    Trip Cancellation

    $1500/person, $10000/trip
  • pause

    Trip Interruption

    $1500/person, $10,000/trip

Insurance Included

  • lost baggage

    Lost or Stolen Baggage

    $500/person, $1000 maximum
  • hourglass timer

    Baggage Delay

    $500/person, $1000 maximum After 6 hours
  • car insurance

    Car Rental Damage & Theft

    $65,000 up to 48 days
  • heart lock

    Travel Accident

    $500,000
  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days
  • burglar

    Hotel Burglary Insurance

    $1000
  • travel accident medical

    Emergency Out of province Medical

    $5M up to 8 days per covered person
  • hourglass timer

    Flight Delay

    $500 After 4 hours delay

Extra Benefits

  • exchange money

    No Foreign Transaction Fees

    Avoid the 2.5% foreign transaction fees incurred when spending in non $CAD
  • concierge

    Concierge Services

  • discount

    Discount

    Discount on PriorityPass Membership
  • Amex logo

    American Express® Experiences

Extra Benefits

  • car rental

    Car Rental Discount

    25% off base rate of participating National Car Rental and Alamo Rent a Car
  • alcohol cheers

    Airport Lounge - Dragon Pass

    Pass only, complimentary visits not included
  • gas station

    Gas Discount

    Get up to seven cents off per litre on Shell® fuel
  • tire

    Roadside Assistance

    Includes free battery boosts, flat-tire change, lockout service and towing
  • discount

    Hotel Booking Discount

    Save up to 7% on your Booking.com prepaid hotel or property rental bookings
  • wifi signal

    Boingo 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 popcorn

    Entertainment

    1¢ / point
  • travel - plane

    Travel

    1¢ / point
  • groceries

    Groceries (Sobeys)

    1¢ / point
  • food location

    Restaurants

    1¢ / point
  • online shop

    Merchandise

    0.76¢ / point
  • gift card

    Gift Cards

    0.74¢ / point
  • cash coins

    Statement 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.

We may earn a commission for some of the products featured on this site. The content and reviews on FinlyWealth are independent and not influenced by advertisers. For the latest details on any product, please visit the advertiser's official website. The content provided on this website, including any credit card recommendations, is for informational and entertainment purposes only and does not constitute financial, legal, or tax advice. The owner and author(s) of this website are not financial, legal, or tax professionals. All views and opinions expressed herein are solely those of the author(s) and may not reflect the best choice for your unique situation. Always consult with a qualified professional before making any financial decisions. The owner and author(s) of this website shall not be held liable for any inaccuracies, errors, or omissions in the content or any resulting actions taken by readers.

Copyright © FinlyWealth 2024 All Rights Reserved.