Scotia Momentum® Visa Infinite* Card

Scotia Momentum® Visa Infinite* Card

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Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

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Scotia Momentum® Visa Infinite* Card vs Tangerine Money-Back Credit Card: 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

Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

4


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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

$278.6


First Year Bonus

$100


Annual Fee

$0


First Year Value

$378.6

$278.6 in years after

Based on $2,000/mo average spending and assuming you have a Tangerine Savings account. Calculate your rewards.

Insurance Included

  • 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
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • 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

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    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:

20.95%2

Cash Advance:

22.95%2

Balance Transfer:

22.95% (1.95% first 6 months)2

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:

N/A

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

In the first 2 months, get a bonus 10% cash back up to $100

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

  • 2% on the choice of two categories chosen from the 10 offered by Tangerine
  • 0.5% 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?

While we think Tangerine isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.

Pros

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

Pros

  • Allows you to change the categories, and you get a 2% reward depending on how your spending is changing every 90 days.
  • 2% cashback on recurring Transactions and pharmacy purchases. One of the highest cashback rates on these categories among credit cards in Canada. 
  • Has cashback on Furniture and Home Improvement categories. Two categories that are not covered by any other card in Canada.
  • Easy credit score requirements needed for this card.
  • Overall, it is a good no-annual-fee cashback credit card, especially if you have a Tangerine Savings account.

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

  • Insurance coverage is the most basic.
  • Very low cashback rate on the other categories not selected.

Legal


2 The annual interest rate on Purchases is 20.95% and Cash Advances (including Balance Transfers) is 22.95%. Rates are subject to change. If you don't make 2 consecutive monthly Minimum Payments, or at any time thereafter, an interest rate of 25.95% will apply to your Account on Purchases and 27.95% on Cash Advances (including Balance Transfers).

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