Scotiabank Platinum American Express® Card vs Scotia Momentum® Visa* Card: Which one is better?

Scotiabank Platinum American Express® Card
3.8

Scotia Momentum® Visa* Card
3.1
Finly Rebate
Finly Rebate
Rewards Breakdown
Annual Rewards
$445.58
Scene+
First Year Bonus Value
$800
Scene+
Annual Fee
$399
First Year Value
$846.58
$46.58 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$315.05
First Year Bonus Value
$0
Annual Fee
$39
First Year Value
$276.05
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Extended Warranty
Up to a yearPurchase Protection
120 daysLost or Stolen Baggage
$500/person, $1000/tripBaggage Delay
$1000 After 4 hoursCar Rental Damage & Theft
$65K up to 48 daysTravel Accident
$500K/person, $1M/occurrenceMobile Device Insurance
$1000Hotel Burglary Insurance
$1000/occurrenceEmergency Out of province Medical
$2M, Up to 31 daysEmergency Medical Over 65
$2M, Up to 10 daysTrip Cancellation
$2500/person, $10000/tripTrip Interruption
$5000/person, $25000/tripFlight Delay
$1000/person
Insurance Included*
Extended Warranty
1 yearPurchase Protection
90 days
Extra Benefits*
No Foreign Transaction Fees
Concierge Services
Discount
Discount on PriorityPass MembershipAmerican Express® Experiences
Status lift
Hertz #1 Club Gold MemberExtra points
Extra 4 Scene+ points per Canadian dollar spent on hotel and car rental bookings made through Scene+ Travel using your Scotiabank Platinum American Express CardAirport Lounge - Priority Pass
10 visits, 4 visits for secondary card (combined with the Plaza Premium)Airport Lounge - Plaza Premium
10 visits, 4 visits for secondary card (combined with the Priority pass)
Extra Benefits*
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Interest Rates*
Purchase:
9.99%
Cash Advance:
9.99%
Balance Transfer:
9.99%
Interest Rates*
Purchase:
19.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Annual Fee*
$399
Annual Fee*
$39
Income Required*
Min Personal Income:
$12,000
Min Household Income:
$12,000
Income Required*
Min Personal Income:
$12,000
Min Household Income:
N/A
Welcome Bonus*
Earn 60,000 bonus Scene+ points by making at least $3,000 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 $10,000 in everyday eligible purchases in your first 14 months.
Welcome Bonus*
Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)
Rewards Rate*
- Earn 2x Scene+ points for every $1 spent on all other eligible 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*
- 2% cashback on gas, groceries, drug store and recurring payments (maximum $500 annually)
- 1% 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 Platinum American Express is the perfect choice for those seeking a super premium credit card without steep income requirements. With a high flat rate of rewards on all purchases, extensive insurance coverage, and flexible travel redemption options, it offers full-featured perks that cater to frequent travelers and savvy spenders alike.
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
- Low Interest Rate: Offers a competitive interest rate of 9.99%.
- Strong Rewards: Earn 2x Scene+ points on all purchases.
- Airport Lounge Access: Enjoy 10 complimentary lounge visits, including Plaza Premium Lounges, through Priority Pass (membership required).
- Comprehensive Travel Insurance: Includes extensive coverage for travel-related needs.
- Flexible Travel Rewards: Points can be redeemed for travel bookings with any provider.
- No Foreign Transaction Fees: Shop internationally without extra charges.
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 annual fee is steep compared to similar cards offering similar perks.
- Limited Premium Perks: Lacks top-tier travel benefits like free checked baggage and priority boarding.
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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