Scotia Momentum® Visa Infinite* Card vs BMO CashBack® World Elite® Mastercard®: Which one is better?
Scotia Momentum® Visa Infinite* Card
4
RECOMMENDED CREDIT SCORE
BMO CashBack® World Elite® Mastercard®
4.2
RECOMMENDED CREDIT SCORE
Finly Rebate
Now $150 until Oct 31, 2024
Finly Rebate
N/A
Rewards Breakdown
Annual Rewards
$396.83
Welcome Bonus
$200
Annual Fee
$120
First Year Value
$596.83
$276.83 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$490.46
Welcome Bonus
$190
Annual Fee
$120
First Year Value
$680.46
$370.46 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Travel Accident
$500,000
Emergency Out of province Medical
15 days
Flight Delay
$500
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
48 days
Purchase Protection
90 days
Extended Warranty
1 year
Mobile Device Insurance
$1,000
Trip Interruption
$2,000
Trip Cancellation
$1,500
Insurance Included
Travel Accident
$500,000Emergency Out of province Medical
15 daysFlight Delay
$500Lost or Stolen Baggage
$500Baggage Delay
$500Car Rental Damage & Theft
48 daysPurchase Protection
90 daysExtended Warranty
1 year
Hotel Burglary Insurance
$1000
Extra Benefits
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Visa Infinite Exclusive Benefits
Yes
Extra Benefits
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Airport Lounge - Dragon Pass
Pass only, complimentary visits not included
Roadside Assistance
Includes free battery boosts, flat-tire change, lockout service and towing
Gas Discount
Get up to seven cents off per litre on Shell® fuel
Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings
Boingo Wi-Fi hotspot
Interest Rates
Purchase:
20.99%
Cash Advance:
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:
$60,000
Min Household Income:
$100,000
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Welcome Bonus
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on additional cards.
Welcome Bonus
Get up to 10% cash back in your first 3 months with an incremental cashback value of $200
Rewards Rate
- 4% cashback on groceries, recurring payments (maximum $1000 cashback per year)
- 2% cashback on gas, daily transit (maximum $500 cashback per year)
- 1% cashback on all other credit card purchases (unlimited).
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.
Is this card worth it?
The 4% cashback offered on groceries and recurring purchases is the highest among all other credit cards. With the first year's annual fee waived, and with the right transactions used on this credit card, a high amount of cashback could be earned.
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
- Highest Cashback rates on Groceries and Recurring purchases compared to other cashback credit cards.
- High insurance coverage.
- First year annual fee waived.
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 base cashback rate (1%) is low for most high spent categories, especially after the first year when the card's annual fee kicks in.
Cons
- Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
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