Scotia Momentum® Visa* Card

Scotia Momentum® Visa* Card

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American Express® Aeroplan®* Reserve Card

American Express® Aeroplan®* Reserve Card

Apply Now

Scotia Momentum® Visa* Card vs American Express® Aeroplan®* Reserve Card: Which one is better?


Scotia Momentum® Visa* Card

Scotia Momentum® Visa* Card

3.1


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

American Express® Aeroplan®* Reserve Card

American Express® Aeroplan®* Reserve Card

4


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$315.05


First Year Bonus

$0


Annual Fee

$39


First Year Value

$276.05

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

Rewards Breakdown

Annual Rewards

$659.8

Air Canada Aeroplan®


First Year Bonus

$0

Air Canada Aeroplan®


Annual Fee

$599


First Year Value

$60.8

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

Insurance Included

  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

Insurance Included*

  • extended warranty

    Extended Warranty

    1 years
  • purchase protection

    Purchase Protection

    90 days

  • lost baggage

    Lost or Stolen Baggage

    $1K
  • hourglass timer

    Baggage Delay

    $1K/person after 6 hours
  • car insurance

    Car Rental Damage & Theft

    $85K Up to 48 consecutive rental days
  • heart lock

    Travel Accident

    $500,000
  • burglar

    Hotel Burglary Insurance

    $1000
  • travel accident medical

    Emergency Out of province Medical

    $5M/insured up to 15 days
  • cancel airplane

    Trip Cancellation

    $1.5K/person, $3K/trip
  • pause

    Trip Interruption

    $1.5K/person, $6K/trip
  • hourglass timer

    Flight Delay

    $1,000/person after 4 hours

Extra Benefits

  • car rental

    Car Rental Discount

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

Extra Benefits*

  • airplane love

    Companion Voucher

    Annual Worldwide Companion Pass from $99 to a max of $599 After spending $25,000 on your card
  • star fall

    Status lift

    Reach Aeroplan Elite™ Status sooner by earning 1,000 Status Qualifying Miles and one (1) Status Qualifying Segment for every $5,000 of net purchases
  • star fall

    Status lift

    Complimentary upgrade to Avis® President's Club
  • star fall

    Status lift

    Primary Cardholders who also hold Aeroplan Elite Status can roll over up to 200,000 Status Qualifying Miles (SQM) beyond the status level for which they’ve qualified, from the prior qualification year to qualify for status the next year.
  • star fall

    Status lift

    Primary Cardholders who also hold Aeroplan Elite Status will benefit from an extra 12 months to use eUpgrade credits, for a total of 24 months from issuance.
  • luggage

    Free first checked bag

    First checked bag is free for primary cardholder on WestJet flight and up to 8 guests
  • reward cup

    Extra points

    Earn points twice at over 150 Aeroplan partner brands and over 170 online retailers through the Aeroplan eStore
  • bed furniture

    Free Extra Night at Hotels

    Cardmembers can now get an extra night free for every 3 hotel nights redeemed with Aeroplan points.
  • border guard

    Nexus Program Rebate

    $100 every 4 years
  • airport waiting room

    Priority Travel

    At Toronto Pearson airport get benefits such as Priority Security lane, Complimentary valet, premium parking spots, priorioty taxi and limo lane and discount for parking and car care.
  • airport waiting room

    Priority Travel

    Get Priority Check-in, Priority Boarding and Priority Baggage Handling, Priority Airport Standby & Priority Airport Upgrades for you, your authorized users and up to 8 companions on the same flight (Only AirCanada)
  • alcohol cheers

    Airport Lounge - Maple Leaf and AirCanada Cafes

    Unlimited Access for you and one guest
  • alcohol cheers

    Airport Lounge - Priority Pass

    Pass only. No Complimentary visits!
  • Amex logo

    Amex Experiences™

    Amex Experiences™ opens doors for you to access a number of special events, including special dining experiences, VIP parties, advance film screenings and more

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Balance Transfer:

2.99% introductory for 6 months, then 22.99%

Interest Rates*

Purchase:

21.99%2

Cash Advance:

21.99%2

Annual Fee

$39

Annual Fee*

$599

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus

Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)

Welcome Bonus*

60,000 Aeroplan® points after spending over $7,500 on your Card within the first 3 months as a new American Express® Aeroplan® Reserve Cardmember, plus 25,000 Aeroplan® points when you spend $2,500 in month 13. Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.

Rewards Rate

  • 2% cashback on gas, groceries, drug store and recurring payments (maximum $500 annually)
  • 1% cashback on all other credit card purchases.

Rewards Rate*

  • 3x Aeroplan® points per $1 spent on eligible Air Canada® and Air Canada Vacations® purchases
  • 2x Aeroplan® points per $1 spent on eligible dining & food delivery purchases
  • 1.25x Aeroplan® points per $1 spent on all other purchases

Loyalty Program

N/A

Loyalty Program*

Point Redemption Options

Not Applicable

Point Redemption Options*

  • Most Optimal

    flight plane

    Aeroplan® Flights

    2.1¢ / point
  • car rental

    Car Rentals

    0.9¢ / point
  • travel - plane

    Travel

    0.825¢ / point
  • online shop

    Merchandise

    0.75¢ / point
  • gift card

    Gift Cards

    0.72¢ / point

Is this card worth it?

The Scotiabank Momentum Visa is a low annual fee cash back card that offers impressive earn rates on a variety of everyday spending categories, making it an excellent choice for those who want to maximize rewards without the higher cost of its Visa Infinite counterpart.

Is this card worth it?

If you are a frequent Air Canada traveler, having an Aeroplan card for perks like free checked bags and priority service can be very beneficial. Many financial institutions offer Aeroplan cards, but I don't believe the American Express version is the best one. Opting for another option might be better. However, the Amex card does have a very large sign-up bonus, making it a great choice for those specifically seeking that.

Pros

  • Cash Back Rewards: Earn up to 2% cash back on purchases.
  • Low Balance Transfer Rate: Benefit from a 2.99% rate on balance transfers for the first 6 months.
  • No Welcome Bonus: No initial sign-up bonus, keeping things straightforward.

Pros

  • Generous rewards rate with up to 3 Aeroplan points per $1 spent on purchases, particularly beneficial for frequent flyers.
  • Enjoy free checked bags when flying with Air Canada, reducing travel costs.
  • Access to preferred pricing on Aeroplan flight awards, maximizing the value of your points.
  • Unlimited access to Maple Leaf lounges when flying with Air Canada, providing a more comfortable travel experience.
  • Extensive insurance coverage, including 11 types of insurance, offering peace of mind during your travels.

Cons

  • Limited Insurance Coverage: Only basic insurance is included.
  • Annual Rewards Payout: Cash back rewards are paid out once a year as a statement credit.

Cons

  • As an American Express card, it may have limited acceptance compared to other credit cards, potentially limiting its use in some places.
  • The most valuable rewards are generally tied to Air Canada flights, which may not appeal to travelers who fly with other airlines.
  • The card comes with a high annual fee of $599, which may be a consideration for budget-conscious users.
  • The unlimited lounge access is limited to Maple Leaf Lounges and Air Canada Cafe lounges which don't have a great worldwide coverage.

Legal


*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment. Check here for full details and current product information.
2 If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 28.99%.

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