Working hard in the background...
Simplii Financial™ Cash Back Visa* Card vs Scotia Momentum® Visa* Card: Which one is better?
Simplii Financial™ Cash Back Visa* Card
Scotia Momentum® Visa* Card
Welcome Bonus
Earn 8% cash back† for your first 3 months up to $1,000 eligible spend.
Welcome Bonus
Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)
Our Cash Offer
$50 Cash Rebate offer from FinlyWealth
Our Cash Offer
$60 Cash Rebate offer from FinlyWealth
Rewards Breakdown
Annual Rewards
$337.19
First Year Bonus Value
+
$7.29
Annual Fee
-
$0
Finly Rebate
+
$50Exclusive Offer
First Year Value
$394.48
$337.19 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$305.45
First Year Bonus Value
+
$0
Annual Fee
-
$39
Finly Rebate
+
$60Exclusive Offer
First Year Value
$326.45
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
How to Earn Rewards
- 4% cash back on eligible restaurant, bar, and coffee shop purchases up to $5,000 spent per year†
- 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments up to $15,000 spent per year†
- 0.5% cashback on all other purchases†
How to Earn Rewards
- 2% cashback on gas, groceries, drug store and recurring payments (maximum $500 annually)
- 1% cashback on all other credit card purchases.
Insurance Included
Extended Warranty
Up to 1 year
Purchase Protection
Up to 90 days
Insurance Included
Extended Warranty
1 yearPurchase Protection
90 days
Extra Benefits
N/A
Extra Benefits
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Interest Rates
Purchase:
20.99%1
Cash Advance:
22.99%1
Balance Transfer:
22.99%1
1 “Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time.
Interest Rates
Purchase:
19.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Annual Fee
$0
Annual Fee
$39
Income Required
Min Personal Income:
$15,000
Min Household Income:
$15,000
Income Required
Min Personal Income:
$12,000
Min Household Income:
N/A
Is this card worth it?
If you dine out a lot and don't want to pay an annual fee for your credit card, the Simplii Financial™ Cash Back Visa* Card will undoubtedly be one of your best friends with its 4% cashback. Additionally, the card offers a decent cashback rate (1.5%) for gas, pharmacy, and groceries, making it one of the best no-annual-fee cashback credit cards in Canada. However, there are limits on how much you can earn in these categories. Therefore, you need to be careful not to exceed those limits; otherwise, your cashback rate will drop to 0.5% after those spending limits are reached.
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
- Highest cashback rate on restaurant purchases in Canada!
- Decent cashback rate on high spent categories such as groceries and gas.
- No annual fee for a card with great rewards.
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
- No insurance and benefits other than the standard purchase protection and extended warranty.
- Cap on the rewards that can be earned on each category.
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.
vs SimplyCash® Card from American Express
vs CIBC Costco Mastercard
vs CIBC Aeroplan® Visa Infinite* Card
vs BMO CashBack® World Elite® Mastercard®
vs Tangerine Money-Back Credit Card
vs Amazon.ca Rewards Mastercard®
vs SimplyCash™ Preferred Card from American Express
vs Scotia Momentum® Visa Infinite* Card
vs MBNA Rewards World Elite® Mastercard®
vs PC World Elite Mastercard
vs American Express® Green Card
vs RBC ION+ Visa
vs Rogers Red World Elite® Mastercard®
vs Rogers Red Mastercard®
vs American Express Cobalt® Card
vs Scotiabank Value® Visa* Card
vs Scotiabank Passport® Visa Infinite* Privilege Card
vs Scotiabank Platinum American Express® Card
vs Scotia Momentum® No-Fee Visa* Card
vs Scotia Momentum® Mastercard®* Credit Card
vs Scotiabank® Scene+ Visa Card
vs Scotiabank American Express® Card
vs American Express Platinum Card®
vs SimplyCash® Card from American Express
vs American Express® Aeroplan®* Reserve Card
vs American Express® Aeroplan®* Card
vs CIBC Costco Mastercard
vs Tangerine Money-Back Credit Card
vs Amazon.ca Rewards Mastercard®
vs SimplyCash™ Preferred Card from American Express
vs Scotia Momentum® Visa Infinite* Card
vs PC World Elite Mastercard
vs American Express® Green Card
vs RBC ION+ Visa
vs Rogers Red World Elite® Mastercard®
vs Scotiabank Passport® Visa Infinite* Card
vs Scotiabank Gold American Express® Card
vs Rogers Red Mastercard®
vs American Express Cobalt® Card
Legal
†Terms and conditions apply. Click ‘Apply Now’ for complete details. Banking services are not available in Quebec.
This offer applies to the Simplii Financial Cash Back Visa Card. You can qualify for this offer if you apply and are approved for a new eligible card beginning May 14, 2025.
This 8% cash back offer (applies an incremental 4% cash back to the 4% cash back already awarded) on eligible restaurant, bar and coffee shop purchases and is available to new cardholders who apply and are approved for the Simplii Financial Cash Back Visa Card beginning May 14, 2025. The 4% incremental cash back applies on eligible restaurant, bar and coffee shop purchases made during your first 3 monthly statement periods beginning from your account open date or $1,000 in total restaurant, bar and coffee shop purchases (equal to $40 bonus cash back), whichever comes first. This offer will not result in any changes to the 4% cash back already earned on restaurant, bar and coffee shop purchases, and those purchases will be included within the $5,000 annual spend limit that earns 4% cash back.
This offer may be withdrawn or changed without prior notice at any time. Simplii Financial may, in its sole discretion, disqualify, limit or revoke this offer if you are believed to be abusing or manipulating it, or engaging in any suspicious or fraudulent activity. Simplii Financial may approve your application, but you are not eligible to receive this offer if you have opened or cancelled a Simplii Financial Cash Back Visa Card within the last 12 months.
*“Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time.
See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.