Scotiabank Gold American Express® Card vs MBNA Rewards World Elite® Mastercard®: Which one is better?
Scotiabank Gold American Express® Card
4.9
MBNA Rewards World Elite® Mastercard®
4.7
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
$597.84
MBNA Rewards
First Year Bonus
$300
MBNA Rewards
Annual Fee
$120
First Year Value
$777.84
$477.84 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/occurrenceMobile Device Insurance
$1,000Extended Warranty
Up to 1 yearPurchase Protection
90 daysEmergency Out of province Medical
$1M, Up to 25 daysFlight Delay
$500/personHotel Burglary Insurance
$1000/occurrenceEmergency 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
$1000/personBaggage Delay
$1000/personCar Rental Damage & Theft
31 daysTravel Accident
$1,000,000Mobile Device Insurance
$1000Extended Warranty
Up to a yearPurchase Protection
Up to 90 daysEmergency Out of province Medical
$2M for 21 daysFlight Delay
$500/person after 4 hours
Extra Benefits
Concierge Services
No Foreign Transaction Fees
Avoid the 2.5% foreign transaction fees incurred when spending in non $CADDiscount
Discount on PriorityPass MembershipAmerican Express® Experiences
Extra Benefits
Concierge Services
Price Protection
$500/item, $1000/account per yearCar Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationallyTrip and legal Assistance
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)
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
$0
First Year Waived
Annual Fee
$120
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
10,000 points for going Paperless. 20,000 points after spending $2,000 after 90 days of account opening
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 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
Loyalty Program
Point Redemption Options
Travel
1¢ / pointMerchandise
0.76¢ / pointGift Cards
0.74¢ / pointEntertainment
1¢ / pointGroceries (Sobeys)
1¢ / pointRestaurants
1¢ / pointStatement Credits (Cash)
0.7¢ / point
Point Redemption Options
Most Optimal
Travel
1¢ / pointGift Cards
0.85¢ / pointMerchandise
0.8¢ / pointStatement Credits (Cash) - World Elite
0.83¢ / pointStatement Credits (Cash) - 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
- Trip cancellation and interruption insurance, two great benefits are missing from this card.
- Not the best card for gas purchases.
Other Comparisons
Other Comparisons
vs American Express Cobalt® Card
vs TD Aeroplan® Visa Infinite* Card
vs Rogers Red Mastercard®
vs Scotiabank Passport® Visa Infinite* Card
vs Rogers Red World Elite® Mastercard®
vs American Express Gold Rewards Card®
vs American Express® Green Card
vs BMO CashBack® World Elite® Mastercard®
vs CIBC Aeroplan® Visa Infinite* Card
vs CIBC Costco Mastercard
vs Scotia Momentum® Visa* Card
vs American Express® Aeroplan®* Card
vs American Express® Aeroplan®* Reserve Card
vs SimplyCash® Card from American Express
vs American Express Platinum Card®
Other Comparisons
Other Comparisons
vs American Express Cobalt® Card
vs Scotiabank Passport® Visa Infinite* Card
vs Rogers Red World Elite® Mastercard®
vs American Express Gold Rewards Card®
vs RBC ION+ Visa
vs Simplii Financial™ Cash Back Visa* Card
vs American Express® Green Card
vs PC World Elite Mastercard
vs Scotia Momentum® Visa Infinite* Card
vs TD® Aeroplan® Visa Infinite Privilege*
vs TD First Class Travel® Visa Infinite* Card
vs BMO CashBack® World Elite® Mastercard®
vs American Express® Aeroplan®* Card
vs American Express® Aeroplan®* Reserve Card
vs SimplyCash® Card from American Express
vs American Express Platinum Card®