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

Scotiabank Gold American Express® Card

4.9

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

MBNA Rewards World Elite® Mastercard®

4.7

More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Finly Rebate

$200 Cash Rebate from FinlyWealth

Now $200 until Oct 31, 2024

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$613.54

Scene+

Welcome Bonus

$450

Scene+

Annual Fee

$120

First Year Value

$1,063.54

$493.54 in years after

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

Rewards Breakdown

Annual Rewards

$587.52

MBNA Rewards

Welcome Bonus

$300

MBNA Rewards

Annual Fee

$120

First Year Value

$767.52

$467.52 in years after

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

Insurance Included

Emergency Out of province Medical

$1M, Up to 25 days

Lost or Stolen Baggage

$500/person, $1000/trip

Baggage Delay

$500/person, $1,000/trip After 4 hours

Flight Delay

$500/person

Travel Accident

$500K/person, $1M/occurrence

Car Rental Damage & Theft

$65K up to 48 days

Mobile Device Insurance

$1,000

Purchase Protection

90 days

Extended Warranty

Up to a year

Emergency Medical Over 65

$1M, Up to 3 days

Trip Cancellation

$1500/person, $10000/trip

Trip Interruption

$1500/person, $10,000/trip

Hotel Burglary Insurance

$1000/occurrence

Insurance Included

Emergency Out of province Medical

$1M, Up to 25 days

Lost or Stolen Baggage

$500/person, $1000/trip

Baggage Delay

$500/person, $1,000/trip After 4 hours

Flight Delay

$500/person

Travel Accident

$500K/person, $1M/occurrence

Car Rental Damage & Theft

$65K up to 48 days

Mobile Device Insurance

$1,000

Purchase Protection

90 days

Extended Warranty

Up to a year

Extra Benefits

Concierge Services

No Foreign Transaction Fees

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

American Express Experiences

Discount

Discount on PriorityPass Membership

Extra Benefits

Concierge Services

Annual Birthday Bonus

10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 15,000 bonus points per year)

Car Rental Discount

10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally

Trip and legal Assistance

Price Protection

$500/item, $1000/account per year

Interest Rates

Purchase:

20.99%

Cash Advance:

22.99%

Balance Transfer:

22.99%

Interest Rates

Purchase:

19.99%

Cash Advance:

24.99%

Annual Fee

$120

First Year Waived

Annual Fee

$120

Income Required

Min Personal Income:

$12,000

Min Household Income:

N/A

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

10,000 points for going Paperless. 20,000 points after spending $2,000 after 90 days of account opening

Rewards Rate

6 Points on on every $1 you spend at Sobeys, Safeway, IGA, Foodland & Participating Co-ops
5 Points dining and at other eligible grocery stores, entertainment purchases which includes movies, theatre, and ticket agencies
3 Point on Rides which includes rideshare, buses, taxis, subways and more
3 Points on eligible streaming services (Netflix, Spotify, Disney+, Crave and more)
1 Point on everything else

Rewards Rate

5 points on restaurant, grocery, digital media, membership, and household utility purchases (maximum $50,000 spend annually per category)
1 point for everything else

Loyalty Program

Scene+

Loyalty Program

MBNA Rewards

Point Redemption Options

Travel

1¢ / point

Merchandise

0.76¢ / point

Gift Cards

0.74¢ / point

Entertainment

1¢ / point

Groceries (Sobeys)

1¢ / point

Restaurants

1¢ / point

Statement Credits

0.7¢ / point

Point Redemption Options

Most Optimal

Travel

1¢ / point

Merchandise

0.76¢ / point

Gift Cards

0.74¢ / point

Statement Credits - World Elite

0.83¢ / point

Statement Credits - Platinum

0.5¢ / point

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?

The MBNA Rewards World Elite® Mastercard® is one of the best reward credit cards in Canada, offering high rewards on frequently spent categories such as groceries and restaurant purchases. The annual birthday bonus, unique to this card, also provides a significant boost to your yearly earnings. Additionally, the card features a comprehensive list of benefits, including price protection—a rare and valuable perk not found with many other cards in Canada. These factors make this card one of the best to have in Canada.

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

Both restaurants and groceries, two of the most commonly spent categories, earn decent rewards.
Great annual birthday bonus with up to $150 in value.
A solid list of travel insurance and benefits.
Price protection, a rare feature not offered by many other cards.
Good value for many of the card's redemption options.

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