Scotia Momentum® Visa* Card vs American Express® Aeroplan®* Reserve Card: Which one is better?
Scotia Momentum® Visa* Card
3
RECOMMENDED CREDIT SCORE
American Express® Aeroplan®* Reserve Card
3.9
RECOMMENDED CREDIT SCORE*
Rewards Breakdown
Annual Rewards
$309.89
Welcome Bonus
$0
Annual Fee
$39
First Year Value
$270.89
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$646.25
Air Canada Aeroplan
Welcome Bonus
$0
Air Canada Aeroplan
Annual Fee
$599
First Year Value
$47.25
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Extended Warranty
1 year
Purchase Protection
90 days
Insurance Included*
Extended Warranty
1 yearPurchase Protection
90 days
Emergency Out of province Medical
$5M/insured up to 15 days
Trip Cancellation
$1.5K/person, $3K/trip
Trip Interruption
$1.5K/person, $6K/trip
Flight Delay
$1,000/person after 4 hours
Baggage Delay
$1K/person after 6 hours
Lost or Stolen Baggage
$1K
Travel Accident
$500,000.svg)
Car Rental Damage & Theft
$85K Up to 48 consecutive rental days
Hotel Burglary Insurance
$1000
Extra Benefits
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Extra Benefits*
Free first checked bag
First checked bag is free for primary cardholder on WestJet flight and up to 8 guests
Nexus Application
$100 every 4 years
American Express Experiences
Extra points
Earn points twice at over 150 Aeroplan partner brands and over 170 online retailers through the Aeroplan eStore.svg)
Status lift
Reach Aeroplan Elite™ Status sooner by earning 1,000 Status Qualifying Miles and one (1) Status Qualifying Segment for every $5,000 of net purchasesStatus lift
Complimentary upgrade to Avis® President's ClubStatus lift
Primary Cardholders who also hold Aeroplan Elite Status can roll over up to 200,000 Status Qualifying Miles (SQM) beyond the status level for which they’ve qualified, from the prior qualification year to qualify for status the next year.Status lift
Primary Cardholders who also hold Aeroplan Elite Status will benefit from an extra 12 months to use eUpgrade credits, for a total of 24 months from issuance.
Airport Benefits
At Toronto Pearson airport get benefits such as Priority Security lane, Complimentary valet, premium parking spots, priorioty taxi and limo lane and discount for parking and car care.Airport Benefits
Get Priority Check-in, Priority Boarding and Priority Baggage Handling, Priority Airport Standby & Priority Airport Upgrades for you, your authorized users and up to 8 companions on the same flight (Only AirCanada)
Airport Lounge - Priority Pass
Pass only. No Complimentary visits!Airport Lounge - Maple Leaf and AirCanada Cafes
Unlimited Access for you and one guest
Companion Voucher
Annual Worldwide Companion Pass from $99 to a max of $599 After spending $25,000 on your card
Free Extra Night at Hotels
Cardmembers can now get an extra night free for every 3 hotel nights redeemed with Aeroplan points.
Interest Rates
Purchase:
19.99%
Cash Advance:
22.99%
Interest Rates*
Purchase:
21.99%2
Cash Advance:
21.99%2
Annual Fee
$39
Annual Fee*
$599
Income Required
Min Personal Income:
$60,000
Min Household Income:
$100,000
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Welcome Bonus
N/A
Welcome Bonus*
60,000 Aeroplan® points after spending over $7,500 on your Card within the first 3 months as a new American Express® Aeroplan® Reserve Cardmember, plus 25,000 Aeroplan® points when you spend $2,500 in month 13. Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Rewards Rate
- 2% cashback on gas, groceries, drug store and recurring payments (maximum $500 annually)
- 1% cashback on all other credit card purchases.
Rewards Rate*
- 3x Aeroplan points per $1 spent on eligible Air Canada® and Air Canada Vacations® purchases
- 2x Aeroplan points per $1 spent on eligible dining & food delivery purchases
- 1.25x Aeroplan points per $1 spent on all other purchases
Loyalty Program
N/A
Loyalty Program*
Point Redemption Options
Not Applicable
Point Redemption Options*
Most Optimal
Transfer to Airline Partners
2.1¢ / pointTravel
0.825¢ / point
Gift Cards
0.74¢ / point
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.
Is this card worth it?
If you are a frequent Air Canada traveler, having an Aeroplan card for perks like free checked bags and priority service can be very beneficial. Many financial institutions offer Aeroplan cards, but I don't believe the American Express version is the best one. Opting for another option might be better. However, the Amex card does have a very large sign-up bonus, making it a great choice for those specifically seeking that.
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.
Pros
- Generous rewards rate with up to 3 Aeroplan points per $1 spent on purchases, particularly beneficial for frequent flyers.
- Enjoy free checked bags when flying with Air Canada, reducing travel costs.
- Access to preferred pricing on Aeroplan flight awards, maximizing the value of your points.
- Unlimited access to Maple Leaf lounges when flying with Air Canada, providing a more comfortable travel experience.
- Extensive insurance coverage, including 11 types of insurance, offering peace of mind during your travels.
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.
Cons
- As an American Express card, it may have limited acceptance compared to other credit cards, potentially limiting its use in some places.
- The most valuable rewards are generally tied to Air Canada flights, which may not appeal to travelers who fly with other airlines.
- The card comes with a high annual fee of $599, which may be a consideration for budget-conscious users.
- The unlimited lounge access is limited to Maple Leaf Lounges and Air Canada Cafe lounges which don't have a great worldwide coverage.
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