Scotia Momentum® Visa Infinite* Card vs SimplyCash™ Preferred Card from American Express: Which one is better?
Scotia Momentum® Visa Infinite* Card
4
SimplyCash™ Preferred Card from American Express
4.6
Welcome Bonus*
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on additional cards.
Welcome Bonus*
Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.
Our Cash Offer
$100 Cash Rebate offer from FinlyWealth
Our Cash Offer
N/A
Rewards Breakdown
Annual Rewards
$407.15
First Year Bonus Value
+
$200
Annual Fee
-
$120
$0
First Year Waived
Finly Rebate
+
$100Exclusive Offer
First Year Value
$707.15
$287.15 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$534.23
First Year Bonus Value
+
$200
Annual Fee
-
$119.88
First Year Value
$614.35
$414.35 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
How to Earn Rewards*
- 4% cashback on groceries, recurring payments (maximum $1000 cashback per year)
- 2% cashback on gas, daily transit (maximum $500 cashback per year)
- 1% cashback on all other credit card purchases (unlimited).
How to Earn Rewards*
- 4% cash back on eligible gas station purchases in Canada
- 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back annually)
- 2% cash back on all other eligible purchases
Insurance Included*
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
48 days
Travel Accident
$500,000
Mobile Device Insurance
$1,000
Extended Warranty
1 year
Purchase Protection
90 days
Emergency Out of province Medical
15 daysFlight Delay
$500
Trip Cancellation
$1,500
Trip Interruption
$2,000
Insurance Included*
Lost or Stolen Baggage
$500Baggage Delay
$500Car Rental Damage & Theft
$85K up to 48 daysTravel Accident
$100,000Mobile Device Insurance
$1,000Extended Warranty
1 yearPurchase Protection
90 daysEmergency Out of province Medical
$5M/insured PersonFlight Delay
$500
Hotel Burglary Insurance
$500
Extra Benefits*
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Visa Infinite Exclusive Benefits
Yes
Extra Benefits*
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates*
Purchase:
21.99%2
Cash Advance:
21.99%2
Annual Fee*
$120
$0
First Year Waived
Annual Fee*
$119.88
Income Required*
Min Personal Income:
$60,000
Min Household Income:
$100,000
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Is this card worth it?
The 4% cashback offered on groceries and recurring purchases is the highest among all other credit cards. With the first year's annual fee waived, and with the right transactions used on this credit card, a high amount of cashback could be earned.
Is this card worth it?
The Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.
Pros
- Highest Cashback rates on Groceries and Recurring purchases compared to other cashback credit cards.
- High insurance coverage.
- First year annual fee waived.
Pros
- Highest cashback rate on groceries and gas in Canada
- Great base cashback rate for all purchases
- 10 different insurance types included
Cons
- The base cashback rate (1%) is low for most high spent categories, especially after the first year when the card's annual fee kicks in.
Cons
- Cash back is only paid out to you once a year
- American Express has a lower merchant acceptance compared to Visa or Mastercard
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vs Rogers Red Mastercard®
vs American Express Cobalt® Card
vs American Express® Aeroplan®* Reserve Card
vs Marriott Bonvoy® American Express®* Card
vs American Express Platinum Card®
vs SimplyCash® Card from American Express
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