Scotiabank Gold American Express® Card vs Scotia Momentum® Mastercard®* Credit Card: Which one is better?

Scotiabank Gold American Express® Card
4.9

Scotia Momentum® Mastercard®* Credit Card
3
Finly Rebate
Finly Rebate
N/A
Rewards Breakdown
Annual Rewards
$644.5
Scene+
First Year Bonus Value
$400
Scene+
Annual Fee
$120
First Year Value
$924.5
$524.5 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$168.07
First Year Bonus Value
$0
Annual Fee
$0
First Year Value
$168.07
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/occurrenceMobile Device Insurance
$1,000Extended Warranty
Up to 1 yearPurchase Protection
90 daysHotel Burglary Insurance
$1000/occurrenceEmergency Out of province Medical
$1M, Up to 25 daysEmergency Medical Over 65
$1M, Up to 3 daysTrip Cancellation
$1500/person, $10000/tripTrip Interruption
$1500/person, $10,000/tripFlight Delay
$500/person
Insurance Included*
N/A
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
25% off base rate of Avis Rent A Car and Budget Rent A Car
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Annual Fee*
$120
Annual Fee*
$0
Income Required*
Min Personal Income:
$12,000
Min Household Income:
$12,000
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
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*
7.99% introductory interest rate on purchases for the first 6 months (20.99% after that; annual fee $0)
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*
- 1% cashback on gas, groceries, drug store and recurring payments
- 0.5% cashback on all other credit card 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?
The Scotiabank Momentum Mastercard stands out as a solid no-fee option for those looking to earn cash back on everyday categories like gas and groceries. With 1% cash back in key spending categories and wide acceptance, it’s a practical card to keep in your wallet, especially if you're a regular Costco shopper. While it lacks insurance coverage, the absence of an annual fee and the consistent cash back on essentials make it a good entry-level card for budget-conscious users.
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
- No annual fee, making it a low-cost option for cardholders.
- 1% cash back on gas, groceries, drugstores, and recurring bill payments.
- Mastercard acceptance, including at Costco.
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
- Poor base earn rate of 0.5% on other purchases.
- No insurance coverage, not even purchase protection.


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 BMO CashBack® 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® 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 Scotiabank American Express® Card


vs Scotiabank® Scene+ Visa Card


vs Scotiabank Passport® Visa Infinite* Card


vs Scotia Momentum® Visa* 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
Legal