Scotiabank Gold American Express® Card vs BMO CashBack® World Elite® Mastercard®: Which one is better?

Scotiabank Gold American Express® Card
4.9

BMO CashBack® World Elite® Mastercard®
4
Finly Rebate
Finly Rebate
Rewards Breakdown
Annual Rewards
$644.5
Scene+
First Year Bonus Value
$400
Scene+
Annual Fee
$120
Finly Rebate
$100Exclusive Offer
First Year Value
$1,024.5
$524.5 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$500.78
First Year Bonus Value
$184
Annual Fee
$120
$0
First Year Waived
Finly Rebate
$75Exclusive Offer
First Year Value
$759.78
$380.78 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Lost or Stolen Baggage
$500/person, $1000/tripBaggage Delay
$500/person, $1,000/trip After 4 hoursCar Rental Damage & Theft
$65K up to 48 daysTravel Accident
$500K/person, $1M/occurrenceExtended Warranty
Up to 1 yearPurchase Protection
90 daysHotel Burglary Insurance
$1000/occurrenceEmergency Out of province Medical
$1M, Up to 25 daysFlight Delay
$500/personMobile Device Insurance
$1,000Emergency Medical Over 65
$1M, Up to 3 daysTrip Cancellation
$1500/person, $10000/tripTrip Interruption
$1500/person, $10,000/trip
Insurance Included*
Lost or Stolen Baggage
$500/person, $1,000 maximumBaggage Delay
$500/person, $1,000 maximum After 6 hoursCar Rental Damage & Theft
$65K up to 48 daysTravel Accident
$500,000Extended Warranty
1 yearPurchase Protection
90 daysHotel Burglary Insurance
$1,000Emergency Out of province Medical
$5M up to 8 days per covered personFlight Delay
$500 After 4 hours delay
Extra Benefits*
No Foreign Transaction Fees
Avoid the 2.5% foreign transaction fees incurred when spending in non $CADConcierge Services
Discount
Discount on PriorityPass MembershipAmerican Express® Experiences
Extra Benefits*
Car Rental Discount
Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking toolAirport Lounge - Dragon Pass
Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.Gas Discount
Get up to 7 cents off per litre on Shell® fuel, only for BMO cardholders.Roadside Assistance
Including battery boosts, flat-tire change, lockout service and towing – a $69/year value.Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.Global Data Roaming plan
With FlexiRoam, stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, without any additional charges, if apply.
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates*
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Annual Fee*
$120
Annual Fee*
$120
$0
First Year Waived
Income Required*
Min Personal Income:
$12,000
Min Household Income:
$12,000
Income Required*
Min Personal Income:
$80,000
Min Household Income:
$150,000
Welcome Bonus*
Earn 20,000 bonus Scene+ points by making at least $2,000 in everyday eligible purchases in your first 3 months. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.
Welcome Bonus*
Get up to 10% cash back in your first 3 months with an incremental cashback value of $194
Rewards Rate*
- Earn 6x Scene+ points on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
- Earn 5x Scene+ points for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
- Earn 5x Scene+ points for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
- Earn 3x Scene+ points for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
- Earn 3x Scene+ points for every $1 CAD you spend in Canada on eligible select streaming services
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Rewards Rate*
- 5% cash back on groceries (capped at $500 spending per statement, maximum of $25 in cashback per statement cycle)
- 4% cash back on daily transit (capped at $300 spending per statement, maximum of $12 in cashback per statement cycle)
- 3% cash back on gas (capped at $300 spending per statement, maximum of $9 in cashback per statement cycle)
- 2% cash back on recurring payments (capped at $500 spending per statement, maximum of $10 in cashback per statement cycle)
- 1% cash back on all other eligible purchases.
Loyalty Program*
Loyalty Program*
N/A
Point Redemption Options*
Entertainment
1¢ / pointTravel
1¢ / pointGroceries (Sobeys)
1¢ / pointRestaurants
1¢ / pointMerchandise
0.76¢ / pointGift Cards
0.74¢ / pointStatement Credits (Cash)
0.7¢ / point
Point Redemption Options*
Not Applicable
Is this card worth it?
The Scotiabank Gold American Express® Card is one of our favorite cards. It has a very solid rewards program, earning one of the highest rewards among all credit cards in Canada. In addition, it offers comprehensive travel benefits, including the rare and valuable no foreign transaction fee benefit, making it a great and balanced credit card in terms of both rewards and benefits. The first-year annual fee waiver is the cherry on top, providing even greater value to cardholders.
Is this card worth it?
If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.
Pros
- No foreign transaction fee saves you 2.5% on all non-CAD purchases.
- Rewards cover all high-spending categories, including food, groceries, entertainment, and gas.
- Comprehensive coverage of all travel insurance.
Pros
- Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
- Includes roadside assistance, a rare but valuable benefit for people on the road.
- Provides a comprehensive list of insurance coverage and benefits.
- High first-year value.
Cons
- The card network is American Express, which might not be widely accepted in some countries, making it a bit harder to use the no foreign transaction fee benefit.
- Having a lounge pass would have made this card even more perfect, but there is access to a discount code for lounge access pass purchases.
Cons
- Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
- Monthly limits on cash back could be higher


vs American Express Cobalt® Card


vs TD Aeroplan® Visa Infinite* Card


vs Rogers Red Mastercard®


vs Scotiabank Passport® Visa Infinite* Card


vs Rogers Red World Elite® Mastercard®


vs American Express Gold Rewards Card®


vs American Express® Green Card


vs MBNA Rewards World Elite® Mastercard®


vs CIBC Aeroplan® Visa Infinite* Card


vs CIBC Costco Mastercard


vs Scotia Momentum® Visa* Card

vs American Express® Aeroplan®* Card


vs American Express® Aeroplan®* Reserve Card


vs SimplyCash® Card from American Express


vs American Express Platinum Card®


vs Neo World Elite® Mastercard®


vs Scotiabank American Express® Card


vs Scotiabank® Scene+ Visa Card


vs Scotia Momentum® Mastercard®* Credit Card


vs Scotia Momentum® No-Fee Visa* Card


vs Scotia Momentum® Visa Infinite* Card


vs Scotiabank Platinum American Express® Card


vs Scotiabank Passport® Visa Infinite* Privilege Card


vs Scotiabank Value® Visa* Card


vs American Express Cobalt® Card


vs TD Aeroplan® Visa Infinite* Card


vs Rogers Red Mastercard®


vs Scotiabank Passport® Visa Infinite* Card


vs Rogers Red World Elite® Mastercard®


vs American Express Gold Rewards Card®


vs Simplii Financial™ Cash Back Visa* Card


vs American Express® Green Card


vs PC World Elite Mastercard


vs MBNA Rewards World Elite® Mastercard®


vs Scotia Momentum® Visa Infinite* Card


vs SimplyCash™ Preferred Card from American Express


vs Tangerine Money-Back Credit Card


vs CIBC Costco Mastercard


vs SimplyCash® Card from American Express


vs Neo World Elite® Mastercard®


vs BMO eclipse Visa Infinite Privilege* Card


vs BMO Preferred Rate Mastercard®


vs BMO VIPorter World Elite Mastercard®∗


vs BMO eclipse Visa Infinite* Card


vs BMO eclipse rise Visa* Card


vs BMO Ascend™ World Elite®* Mastercard®*


vs BMO CashBack® Mastercard® for Students


vs BMO CashBack® Mastercard®


vs BMO AIR MILES® World Elite®* Mastercard®*


vs BMO VIPorter Mastercard®∗


vs BMO AIR MILES® Mastercard®* for Students


vs BMO AIR MILES® Mastercard®*
Legal