Scotia Momentum® Visa* Card vs SimplyCash® Card from American Express: Which one is better?
Scotia Momentum® Visa* Card
3.1
RECOMMENDED CREDIT SCORE
SimplyCash® Card from American Express
3.5
RECOMMENDED CREDIT SCORE*
Finly Rebate
Finly Rebate
N/A
Rewards Breakdown
Annual Rewards
$309.89
Welcome Bonus
$0
Annual Fee
$39
First Year Value
$270.89
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$301.46
Welcome Bonus
$100
Annual Fee
$0
First Year Value
$401.46
$301.46 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Extended Warranty
1 year
Purchase Protection
90 days
Insurance Included*
Extended Warranty
1 yearPurchase Protection
90 days
Travel Accident
Up to $100,000
Extra Benefits
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Extra Benefits*
American Express Experiences
Front Of The Line® Presales, Front Of The Line® Reserved tickets 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:
21.992
Cash Advance:
21.992
Annual Fee
$39
Annual Fee*
$0
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*
Earn up to $100 in Statement Credits by earning a $10 statement credit for each monthly billing period in which you spend $300 on your Card in your first 10 months as a new SimplyCash® Card from American Express Cardmember. This could add up to $100 in statement credits in the first 10 months. Current or former Cardmembers with this Card are not eligible for this offer. 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*
- 2% cash back on eligible gas and grocery purchases in Canada (up to $300 cash back annually)
- 1.25% cash back on all other eligible purchases
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?
The SimplyCash® Card from American Express stands out for its no annual fee and strong cash-back earning potential, offering up to $100 in statement credits within the first 10 months. What makes it even more appealing are the unique perks, such as early access to concert tickets and extra layers of security for online shopping. These extra benefits, along with the affordability, make it a strong contender for those looking for a reliable cash-back card with no annual fee. It's an excellent choice for everyday spending while still enjoying exclusive Amex advantages.
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
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
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