Scotia Momentum® Visa Infinite* Card

Scotia Momentum® Visa Infinite* Card

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CIBC Costco Mastercard

CIBC Costco Mastercard

Apply Now

Scotia Momentum® Visa Infinite* Card vs CIBC Costco Mastercard: Which one is better?


Scotia Momentum® Visa Infinite* Card

Scotia Momentum® Visa Infinite* Card

4


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

CIBC Costco Mastercard

CIBC Costco Mastercard

3


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$407.15


First Year Bonus

$200


Annual Fee

$120


First Year Value

$607.15

$287.15 in years after

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

Rewards Breakdown

Annual Rewards

$347.33


First Year Bonus

$0


Annual Fee

$0


First Year Value

$347.33

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

Insurance Included

  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

  • lost baggage

    Lost or Stolen Baggage

    $500
  • hourglass timer

    Baggage Delay

    $500
  • car insurance

    Car Rental Damage & Theft

    48 days
  • heart lock

    Travel Accident

    $500,000
  • travel accident medical

    Emergency Out of province Medical

    15 days
  • cancel airplane

    Trip Cancellation

    $1,500
  • pause

    Trip Interruption

    $2,000
  • hourglass timer

    Flight Delay

    $500

Insurance Included

  • mobile device insurance

    Mobile Device Insurance

    $1000
  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    Up to 90 days

Extra Benefits

  • car rental

    Car Rental Discount

    25% off base rate of Avis Rent A Car and Budget Rent A Car
  • exclusive

    Visa Infinite Exclusive Benefits

    Yes

Extra Benefits

N/A

Interest Rates

Purchase:

20.99%

Cash Advance:

22.99%

Interest Rates

Purchase:

20.75%

Cash Advance:

22.49%

Annual Fee

$120

$0

First Year Waived

Annual Fee

$0

Income Required

Min Personal Income:

$60,000

Min Household Income:

$100,000

Income Required

Min Personal Income:

$15,000

Min Household Income:

N/A

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

N/A

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

  • 3% cash back on Restaurants and Costco Gas
  • 2% cash back on Costco.ca purchases (Max $160 yearly)
  • 2% cash back on Gas (Max $100 yearly)
  • 1% on everything else

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?

The CIBC Costco Mastercard offers one of the highest cashback rates on restaurant purchases in Canada, making it an excellent choice for optimizing rewards in this specific category, especially since it has no annual fees. If you use Costco Gas or shop on Costco Online, there is a decent cashback rate as well. However, for other categories, the cashback rate is average. Notably, you will be better off using other credit cards for warehouse Costco purchases, as you will only earn 1% cashback. If you are looking for no annual fee credit cards only, this is a good card to go for.

Pros

  • Highest Cashback rates on Groceries and Recurring purchases compared to other cashback credit cards.
  • High insurance coverage.
  • First year annual fee waived.

Pros

  • Decent reward rate for a no annual fee credit card
  • One of the highest cashback rates for restaurant purchases in Canada
  • Has Mobile insurance

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

  • Doesn't come with a lot of benefits
  • Doesn't earn much on Costco Warehouse purchases!

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