Scotiabank Passport® Visa Infinite* Card vs Tangerine Money-Back Credit Card: Which one is better?
Scotiabank Passport® Visa Infinite* Card
4.8
Tangerine Money-Back Credit Card
4
Finly Rebate
N/A
Finly Rebate
Rewards Breakdown
Annual Rewards
$343.9
Scene+
First Year Bonus
$250
Scene+
Annual Fee
$150
First Year Value
$443.9
$193.9 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
1 year
Purchase Protection
90 days
Lost or Stolen Baggage
$1000
Baggage Delay
$1000.svg)
Car Rental Damage & Theft
$65,000 up to 48 days
Travel Accident
$500,000/insured, $1M combined
Hotel Burglary Insurance
$1,000
Emergency Out of province Medical
$2M/insured up to 25 daysEmergency Medical Over 65
$2M/insured up to 3 days
Trip Cancellation
$1,500/person, $10,000/trip
Trip Interruption
$2,500/person, $10,000/tripFlight Delay
$500/person after 4 hours
Insurance Included
Extended Warranty
Up to a yearPurchase Protection
90 days
Extra Benefits*
No Foreign Transaction Fees
Avoid the usual 2.5% forex fees on your purchases when you travel outside of Canada
Visa Infinite Exclusive Benefits
Airport Lounge - Dragon Pass
6 Free complimentary visits.svg)
Concierge Services
.svg)
Status lift
Avis® Preferred Plus membership
Extra Benefits
N/A
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
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*
$150
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 25,000 bonus Scene+ points by making at least $1,000 in everyday eligible purchases in your first 3 months. Plus, as a Scotiabank Passport Visa Infinite cardholder, you are eligible to earn an annual 10,000 Scene+ point bonus when you spend at least $40,000 in everyday eligible purchases annually. Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for the 25,000 bonus points offer. All cardholders remain eligible to earn an annual 10,000 Scene+ point bonus with an annual spend of at least $40,000. Expires January 2, 2025.
Welcome Bonus
In the first 2 months, get a bonus 10% cash back up to $100
Rewards Rate*
- 3 Points on on every $1 you spend at Sobeys, Safeway, IGA, Foodland & Participating Co-ops
- 2 Points dining and at other eligible grocery stores, entertainment purchases which includes movies, theatre, and ticket agencies and Rides which includes rideshare, buses, taxis, subways and more
- 1 Point on everything else
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.
Loyalty Program*
Loyalty Program
N/A
Point Redemption Options*
Entertainment
1¢ / point
Travel
1¢ / point
Groceries (Sobeys)
1¢ / point
Restaurants
1¢ / point
Merchandise
0.76¢ / point
Gift Cards
0.74¢ / point
Statement Credits (Cash)
0.7¢ / point
Point Redemption Options
Not Applicable
Is this card worth it?
The Scotiabank Passport Visa Infinite is a strong choice for frequent travelers, especially those who value flexibility and premium perks. It stands out with its rare benefit of no foreign transaction fees, making international purchases more cost-effective. Additionally, the card offers a valuable blend of travel perks, including airport lounge access, comprehensive insurance coverage, and flexible rewards, making it an ideal companion for those who frequently travel abroad and want to avoid extra fees while enjoying premium benefits.
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
- High Rewards on Select Purchases: Earn up to 3 points per $1 spent on select categories.
- No Foreign Transaction Fees: Shop abroad without additional charges.
- Comprehensive Insurance: Includes 11 types of insurance coverage.
- Airport Lounge Access: Enjoy up to 6 airport lounge passes per year through the Visa Airport Companion program.
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
- High Income Requirements: Requires $60,000 personal or $100,000 household income.
- Lower Overall Rewards: Rewards potential is lower compared to premium credit cards.
- High Annual Fee: Comes with a significant annual fee.
- Average Insurance Coverage: Insurance benefits are standard, not exceptional.
- Mediocre Earnings Potential: The card’s rewards structure might not offer the highest returns for every spender.
Cons
- Insurance coverage is the most basic.
- Very low cashback rate on the other categories not selected.
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Scotiabank Passport® Visa Infinite* Card vs Tangerine Money-Back Credit Card: When to go for one over the other
Annual Fees and Requirements
The Scotiabank Passport Visa Infinite has a significant annual fee, whereas the Tangerine Money-Back Credit Card has no annual fee. Additionally, the Scotiabank card has income requirements of at least $60,000 personal or $100,000 household income, while the Tangerine card has no specific income requirement. This makes the Tangerine card more accessible to a broader range of users who may not meet the income criteria of premium cards like the Scotiabank Passport Visa Infinite.
Rewards Comparison
The Scotiabank Passport Visa Infinite offers rewards through the Scene+ program, which is more valuable for those who spend on groceries, dining, and travel. It also provides a larger welcome bonus for new users. The Tangerine Money-Back Credit Card, on the other hand, offers 2% cashback in two categories of your choice, which can be changed every 90 days, plus a smaller welcome bonus. For users seeking high cashback rates in specific categories, the Tangerine card may be more suitable, while the Scotiabank card is better for people with different spending categories or for people that travel a lot.
Reward Redemption Options
The Scotiabank Passport Visa Infinite allows points to be redeemed for travel, entertainment, and gift cards, with travel generally offering the best value. However, cashback is not an option. The Tangerine Money-Back Credit Card offers pure cashback, which can be used on anything, providing more flexibility compared to point redemption systems. For those who prioritize flexibility and ease of use, cashback rewards like those offered by Tangerine are generally more advantageous.
Benefits and Insurance
The Scotiabank Passport Visa Infinite provides comprehensive travel insurance, including emergency medical, trip cancellation, and rental car coverage, along with unique perks such as no foreign transaction fees and airport lounge access. The Tangerine card offers basic insurance, like purchase protection and extended warranty but lacks the robust travel benefits of the Scotiabank card. Frequent travelers would find the Scotiabank card's premium benefits more appealing, while the Tangerine card may suffice for those who don't require extensive insurance coverage.
Network Comparison
The Scotiabank Passport Visa Infinite operates on the Visa network, while the Tangerine Money-Back Credit Card is a Mastercard. Both networks are widely accepted worldwide, but there are a few key differences. Mastercard is accepted at Costco in Canada, while Visa is not. Additionally, Mastercard considers Walmart as a grocery store for rewards purposes, allowing Tangerine cardholders to earn cashback in that category. On the other hand, Visa treats Walmart as a department store, which may impact the rewards earned with the Scotiabank Passport Visa Infinite at Walmart.
Conclusion
The Scotiabank Passport Visa Infinite is ideal for frequent travelers who need strong travel insurance and perks like airport lounge access and no foreign transaction fees. Meanwhile, the Tangerine Money-Back Credit Card is better suited for those seeking an easy-to-use cashback card without annual fees or income requirements, particularly for specific spending categories like groceries or recurring bills.
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