Credit Card Battle: MBNA Rewards World Elite MasterCard vs. Scotia Momentum Visa Infinite

Jordann Brown
by Jordann Brown March 8, 2017 / No Comments

It can be difficult to determine which credit card is the best card for your spending habits and needs. Each credit card offered in Canada comes with a unique rewards structure, benefits, and insurance perks. Deciding which one is right for you is easier said than done, but I’ve always found that in cases like this, a side-by-side comparison can be helpful.

That’s why we’re continuing our battle of the best cash-back cards in Canada by taking a look at the MBNA Rewards World Elite MasterCard versus the Scotia Momentum Visa Infinite.

Here’s a quick side-by-side comparison to illustrate the benefits of each credit card:

MBNA Rewards World Elite Mastercard

Scotia Momentum Visa Infinite

Annual fee $89 $99
Sign-up bonus 10,000 bonus after first eligible purchase Earn 5% cashback on all purchases in the first three months for first $3,000 of purchases1
Rewards 2 points per $1 in eligible purchases 4% cash back on gas and groceries2, 2% cash back on pharmacy and bills1, 1% cash back on everything else
Annual income requirement

$70,000 per year individual income

$120,000 per year family income

$60,000 per year individual income

$100,000 per year family income

Interest rate 19.99% 19.99%
Special features Price protection, concierge service, world offers VISA Infinite Complimentary concierge service, access to VISA Infinite Luxury Hotel Collection and VISA Infinite Dining Series
Insurance benefits
  • Travel accident
  • Trip interruption
  • Baggage loss
  • Car rental/collision
  • Zero liability, price protection, extended warranty, purchase assurance
  • Travel emergency medical and accident
  • Trip interruption
  • Baggage loss and delay
  • Car rental collision/loss insurance
  • Zero liability, extended warranty, purchase assurance

1Offer valid until April 30, 2017.
2
On first $25,000 in purchases per year, 1% cash back per dollar after that.

Regarding benefits, these two credit cards are very similar. They offer similar insurance protection, their income requirements are very close, and the Scotia Momentum Visa Infinite’s annual fee is only $10 more per year. The Scotia Momentum Visa Infinite offers more special features including VISA Infinite 24/7 complimentary concierge service, access to the VISA Infinite Luxury Hotel Collection and the VISA Infinite Dining Series.

But how do these credit cards stack up regarding their most important benefits: rewards? Let’s look at the following $1,500 monthly spending profile and determine how much you’ll earn using these credit cards:

Category Amount
Groceries $400
Gas $200
Restaurants $150
Bills $250
Travel $100
Entertainment $100
Pharmacy $100
Everything Else $200
Total $1,500

MBNA Rewards World Elite MasterCard

MBNA Rewards World Elite

mbna-rewards-world-elite

  • Annual fee: $89
  • Earn 2 MBNA points per $1 spent (2% cash back)
  • 10,000 bonus points with first eligible purchase (value: $100)

The MBNA Rewards World Elite MasterCard lets you earn rewards points at a rate of 2 points for every $1 spent in all categories. There is no limit on the points you can earn in a year, and the points never expire. We’ve calculated the value of the points at $0.01 per poin. Based on this value and the spending profile above you’ll earn $371 in rewards in the first year and $271 for every subsequent year.

Annual fee Sign-up bonus/spending rewards Spending rewards Monthly spending First year return Subsequent years
$89 $100 $360 $1,500 $371 $271

Scotia Momentum Visa Infinite 

Scotia Momentum VISA Infinite

scotia-momentum-visa-infinite

  • Earn 4% cash back on gas and groceries, 2% cash back on drug store purchases and recurring bill payments, and 1% cash back on all other purchases
  • Receive VISA Infinite benefits
  • Until April 30, 2017: earn 5% cash back on spending in all categories for the first three months (up to $3,000)

The Scotia Momentum Visa Infinite is running a promotion until April 30, 2017 that allows new card users to earn 5% cash back on all categories for the first three months up to $3,000 in spending. This promotion gives you a nice spending bonus in the first year of $150.

After that, you’ll earn rewards at the following rates in the following categories:

  • 4% cash back on gas and groceries up to $25,000 per year
  • 2% cash back on pharmacy and bills up to $25,000 per year
  • 1% cash back on everything else
Annual fee Sign-up bonus/spending rewards Spending rewards Monthly spending First year return Subsequent years
$99 $150 $365 $1,500 $416 $266

Since gas and groceries are the largest categories in the sample spending profile above, you’re maximizing your available cash back rewards. In the first year, including the spending bonus, you’ll earn $416, which is more than the MBNA Rewards World Mastercard. In subsequent years you’ll earn $266 per year, which is $5 less per year than the MBNA Rewards World Mastercard.

Combine that with the fact that the annual fee is $10 more per month, and you may be better off choosing the MBNA Rewards World Mastercard if you are planning to keep the credit card for more than three years.

Of course, deciding which credit card is right for you will depend on your unique spending profile, so make sure to take advantage of RateHub’s credit card comparison tool to determine which credit card you should choose.

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Flickr: KMR Photography