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

Scotiabank Gold American Express® Card

4.9

More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Rogers Red World Elite® Mastercard®

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

$60 Cash Rebate from FinlyWealth

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

$720

Welcome Bonus

Annual Fee

First Year Value

$720

Based on $2,000/mo average spending and assuming you have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user. Calculate your rewards.

Insurance Included

Emergency Out of province Medical

$1M, Up to 25 days

Emergency Medical Over 65

$1M, Up to 3 days

Trip Cancellation

$1500/person, $10000/trip

Trip Interruption

$1500/person, $10,000/trip

Car Rental Damage & Theft

$65K up to 48 days

Purchase Protection

90 days

Extended Warranty

Up to a year

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

Hotel Burglary Insurance

$1000/occurrence

Mobile Device Insurance

$1,000

Insurance Included

Emergency Out of province Medical

$1M, Up to 25 days

Emergency Medical Over 65

$1M, Up to 3 days

Trip Cancellation

$1500/person, $10000/trip

Trip Interruption

$1500/person, $10,000/trip

Car Rental Damage & Theft

$65K up to 48 days

Purchase Protection

90 days

Extended Warranty

Up to a year

Trip delay

$150 day, up to 3 days

Extra Benefits

No Foreign Transaction Fees

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

American Express Experiences

Concierge Services

Discount

Discount on PriorityPass Membership

Extra Benefits

Airport Lounge - Dragon Pass

Pass only, complimentary visits not included

No Cost roaming

5 days

Interest Rates

Purchase:

20.99%

Cash Advance:

22.99%

Balance Transfer:

22.99%

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Annual Fee

$120

First Year Waived

Annual Fee

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

N/A

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

3% cash back on all U.S dollar purchases
2% cash back on all regular purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
1.5% cash back on all purchases if you do not have 1 qualifying service

Loyalty Program

Scene+

Loyalty Program

N/A

Point Redemption Options

Entertainment

1¢ / point

Travel

1¢ / point

Groceries (Sobeys)

1¢ / point

Restaurants

1¢ / point

Merchandise

0.76¢ / point

Gift Cards

0.74¢ / point

Statement Credits

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?

This card is one of the best in Canada, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is higher than what almost any other card offers, even those with annual fees! Additionally, for a no-fee card, you gain access to an extensive list of travel benefits, many of which are typically offered only with cards that have annual fees. Therefore, we recommend this card to anyone who meets the income requirements, even if you are not a Rogers customer!

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

Voted the Best Cash Back Card in Canada for Rogers, Fido and Shaw customers by FinlyWealth.
Voted the Best No Annual Fee Credit Card in Canada by FinlyWealth.
There is no annual fee which is a notable benefit for a card with such high rewards. Most cards with slightly lower reward rates typically include yearly fees.
Many favorable benefits for travelers.
Many benefits, such as trip cancellation insurance, are only available on credit cards with an annual fee. It is rare to see these benefits on a no-annual-fee card!
Offers the flexibility to redeem cash towards Rogers, Shaw, or Fido services, potentially increasing your rewards.
The roam-like benefit is a benefit unique only to this card.
It is accepted at nearly all locations as it's a Mastercard.

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

Harder to qualify due to the high credit score and income requirements.
Out of all possible travel insurances, this card is missing Baggage delay and Hotel Burglary insurance. If these two insurances are essential to someone, this card needs to be paired with another travel card to cover them.