American Express Gold Rewards Card® vs Scotia Momentum® Visa* Card: Which one is better?
American Express Gold Rewards Card®
4.5
Scotia Momentum® Visa* Card
3.1
Welcome Bonus*
New American Express® Gold Rewards Cardmembers, earn 5,000 Membership Rewards® points for each monthly billing period in which you spend $1,000 in net purchases on your Card. Earn an additional 30,000 points after you spend a total of $20,000 on your Card in your first 12 months of Cardmembership. Plus, earn 20,000 points when you make a purchase between months 15 and 17 of Cardmembership. Offer ends August 18, 2025. This could add up to 110,000 points in a year. That’s up to $1,100 towards your next vacation.
Welcome Bonus*
Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)
Our Cash Offer
N/A
Our Cash Offer
$60 Cash Rebate offer from FinlyWealth
Rewards Breakdown
Annual Rewards
$619.03
American Express Membership Rewards
First Year Bonus Value
+
$1,890
American Express Membership Rewards
Annual Fee
-
$250
First Year Value
$2,259.03
$369.03 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$315.05
First Year Bonus Value
+
$0
Annual Fee
-
$39
Finly Rebate
+
$60Exclusive Offer
First Year Value
$336.05
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
While the first year bonus value here may show $0, the actual welcome bonus offer for this credit card is 2.99% introductory interest rate on balance transfers up to 6 months, which we value at $0 when you meet the minimum spending or other listed requirements. The value of $0 here was derived based on numbers in the spending inputs and whether you meet the minimum listed requirements.
How to Earn Rewards*
- 2x points per $1 spent on gas, groceries and drugstore purchases
- 2x points per $1 spent on travel (eligible flights, hotels, tours and more)
- 1x point per $1 spent on all other eligible purchases
How to Earn Rewards*
- 2% cashback on gas, groceries, drug store and recurring payments (maximum $500 annually)
- 1% cashback on all other credit card purchases.
Insurance Included*
Extended Warranty
Up to 1 year
Purchase Protection
90 days
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
yes
Travel Accident
$500,000
Hotel Burglary Insurance
$500
Emergency Out of province Medical
15 days
Trip Cancellation
$1,500 per person, $3,000 combined
Trip Interruption
$1,500 per person, $6,000 combinedFlight Delay
$500
Insurance Included*
Extended Warranty
1 yearPurchase Protection
90 days
Extra Benefits*
American Express® Experiences
.svg)
Status lift
Hertz Gold Plus Rewards® loyalty program
Extra points
Earn 2 points on Amex Travel Online purchases and extra points on American Express offers.svg)
Travel Credit
$100
Nexus Program Rebate
$50 statement credit every 4 years
Complimentary Hotel Benefits
Hotels booked American Express Travel
Airport Lounge - Priority Pass
Pass only. No Complimentary visits!Airport Lounge - Plaza Premium
4 Free complimentary visits
Extra Benefits*
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates*
Purchase:
19.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Annual Fee*
$250
Annual Fee*
$39
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
$12,000
Min Household Income:
N/A
Loyalty Program*
Loyalty Program*
N/A
Point Redemption Options*
Most Optimal
Transfer to Airline Partners
2.1¢ / point
Fixed Point Travel Program
1.66¢ / pointTransfer to Hotel Partners
1.66¢ / point
Statement Credits (Cash)
1¢ / point
Gift Cards
0.91¢ / point
Amazon.ca
0.7¢ / point
Merchandise
0.63¢ / point
Point Redemption Options*
Not Applicable
Is this card worth it?
The American Express® Gold Rewards Card is an excellent choice for travelers seeking an entry-level card that offers a strong balance of generous travel benefits without excessive costs. With a relatively low annual fee, this card provides flexibility and a range of perks that make it stand out among other options. It’s ideal for those who want to maximize their travel rewards without being tied to a specific airline or compromising on the benefits offered.
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.
Pros
- Flexible Rewards: Enjoy flexible Membership Rewards point conversion with up to 2 points per $1 spent.
- Travel Perks: Includes $100 annual travel credit and 4 free passes to Plaza Premium lounges in Canada.
- Comprehensive Insurance: Comes with 11 types of insurance coverage.
- Multiple Redemption Options: Offers 4 ways to redeem points for maximum value.
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.
Cons
- High Annual Fee: The card comes with a $250 annual fee.
- Foreign Transaction Fees: A 2.5% fee applies to foreign transactions.
- Limited Travel Insurance for Seniors: No travel medical insurance coverage for those over 65.
- Lower Acceptance: As an American Express card, it may have lower acceptance compared to Visa or Mastercard.
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.
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