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The Scotia Momentum® Visa Infinite* Card faces off against the TD Cash Back Visa Infinite* Card in this battle of Canada’s top cash back cards. Both cards offer up to 10% cash back for the first three months and an exceptional reward rate for everyday purchases. And, both being Visa Infinite* Cards, cardholders with either can reap the same, or similar, top-shelf concierge and travel services of this established programs.
But beyond these similarities, what kind of punch are these cards really packing? We put them “in the ring” to battle it out, comparing all the must-know details.
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| Annual fee | $120 | $139 |
| Welcome bonus |
Earn up to 10% cash back in the first three months. Plus, Scotiabank will waive the annual fee for the first year, including on supplementary cards. This offer expires on October 31, 2024. Bonus: Get a $125 cash bonus from RATESDOTCA upon approval until December 22, 2023. |
Get up to 10% cash back in the first three months up to a total spend of $3,500†. Plus, TD will rebate the annual fee for the first year †. This offer expires on March 4, 2024. |
| Earn rates |
- Earn 4% cash back on groceries and recurring bill payments. - Earn 2% cash back on gas and daily transit. - Earn 1% cash back on all other purchases. |
- Earn 3% cash back on groceries, gas and recurring bills payments †. - Earn 1% cash back on all other purchases†. (This offer is not available for residents of Quebec) |
| Reward redemption | Cash back is awarded annually. | Redeem a minimum of $25 cash back anytime, or use your cash back to pay down your credit statement anytime with no minimum required. |
| Perks |
- Visa Infinite benefits - Concierge services - Wine Country Wonders - Luxury Hotel Privileges |
- Visa Infinite* benefits† - Emergency Road Services† - Concierge services† - Earn 50% more Stars at participating Starbucks stores †. |
| Insurance coverage | Get 10 types of travel insurance and shopping coverage. |
Get 5 types of travel insurance and shopping coverage. |
| Recommended credit score | 740+ | 660+ |
| Interest rates |
Purchases: 20.99% Cash advances: 22.99% Balance transfers: 22.99% |
Purchases: 20.99% Cash advances: 22.99% Balance transfers: 22.99% |
| Income requirements |
Personal: $60,000 Household: $100,000 |
Personal: $60,000 Household: $100,000 |
| First-year value* | $842 | $801 † |
† Terms and conditions apply.
*The RATESDOTCA Best of Finance methodology assumes the cardholder spends an average of $2,000 a month on their card to determine the first-year value. The calculation includes all welcome bonuses and promotional offers at the time of publishing.
Annual fee
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| Annual fee | $120 | $139 |
| Annual fee for additional cardholders | $50 | $50 |
There’s no contest here. With an annual fee of $139†, the TD Cash Back Visa Infinite* Card costs almost $20 more than the Scotia Momentum* Visa Infinite Card a year.
Moreover, the Scotia Momentum Visa Infinite* Card fully waives the Annual Fee for the first year while the TD Cash Back Visa Infinite* Card rebates it back after three months, contingent on a first Purchase on the Account within the first three months.
Welcome bonus
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| Welcome bonus |
Earn 10% cash back for the first three months on up to $2,000 in total purchases. Scotiabank will also waive the annual fee for the primary and additional cardholders for the first year. This offer expires October 31, 2024. Plus, get a $125 cash bonus from RATESDOTCA upon approval until December 22, 2024. |
Earn 10% cash back in the first three months on up to $3,500 in purchases†. Plus, TD will rebate the annual fee for the first year†. This offer expires on March 5, 2024. |
At first glance, the welcome bonus for these cards may seem equally matched — earn up to 10% cash back for the first three months, and no Annual Fee for the first year, with a free supplementary card to boot.
However, the higher earn limit on the TD Cash Back Visa Infinite* Card nudges it slightly ahead of the competition.
The TD Cash Back Visa Infinite Card offers 10% back in the first three months † on up to $3,500 in purchases, which could amount to a handsome $350 in bonus cash. Throw in the free first supplementary card † and it comes to $400.
Meanwhile, the Scotia Momentum Visa Infinite Card offers 10% cash back for the first three months, but only up to $2,000 – that makes the maximum amount of cash back you could earn substantially lower than its competitor. Even sweetened with the $125 cash bonus offered by RATESDOTCA and the complimentary additional card (value of $50), the value of this welcome bonus only comes to $375.
Compare best welcome offers this month.
Earn rates
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| Earn rates (rewards) |
- Earn 4% cash back on grocery purchases and recurring bill payments, up to $25,000 spent annually. - Earn 2% cash back on gas and daily transit purchases, up to $25,000 spent annually. - Earn 1% cash back on all other purchases. |
- Earn 3% cash back on grocery, gas, and recurring bills up to a maximum annual spend of $15,000 per category.† - Earn 1% cash back on all other purchases.† |
The Scotia Momentum® Visa Infinite* Card takes this round due to its higher spends on eligible cash back, higher earn rates for grocery purchases and recurring bill payments, and more flexible earning structure.
Our Best of Finance methodology assumes that cardholders spend $2,00 a month on their credit card, including $500 in groceries, $250 in gas, $50 in local transit, and $300 in recurring bills.
Based on those spends, the Scotia Momentum Visa Infinite* offers cash back of $564 annually.
- $240 for groceries
- $144 for recurring bill payments
- $60 for gas
- $12 for transit
- $108 in all other purchases.
In comparison, the TD Cash Back Visa Infinite* Card nets you $492 annually.
- $180 for groceries†
- $108 in recurring bill payments†
- $90 for gas†
- $114 in all other purchases.†
Plus, with the higher spending caps for cash back on each category, there’s more to earn. If you’ve got a big family, or you travel long distances for work, you’ll be able to earn up to $1,000 in cash back if you hit the $25,000 annual spend on those categories.
For TD, that you can earn up to $450 on a limit of $15,000 for each category of grocery, gas, and recurring bills†.
Related: How do cashback rewards work on a credit card?
Reward redemption
| Cards | Scotia Momentum® Visa Infinite* Card |
TD Cash Back Visa Infinite* Card |
|---|---|---|
| Reward redemption | Cash back rewards are awarded annually. | Redeem a minimum of $25 cash back anytime, or use your cash back to pay down your credit statement anytime with no minimum required† |
TD Cash Back Visa Infinite* Card wins this round based on flexibility of redemption. Cardholders can pay down their credit balance with cash back at any time, no minimum required. If they wish to redeem their cash back, they can do so at a minimum of $25†.
Meanwhile, the Scotia Momentum® Visa Infinite* Card credits cash back annually. Not only does this mean you have to wait months before receiving your cash back, you’ll also have to carefully time any closure of the account until after the redemption deadline so you don’t lose out on any rewards.
Perks
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| Perks |
- Visa Infinite* benefits† - Concierge services† - Emergency Road Services through Deluxe TD Auto Club Membership† - Earn 50% more Stars at participating Starbucks stores†. |
- Visa Infinite* benefits† - Concierge services† - Emergency Road Services through Deluxe TD Auto Club Membership† - Earn 50% more Stars at participating Starbucks stores†. |
Both cards include Visa Infinite benefits from concierge service to exclusive experiences. The Visa Infinite* Dining and Wine Country program offers culinary benefits at home and across the country, including discounts from select wineries in Ontario, British Columbia, and Sonoma Valley, among other luxury perks.
While the Visa Infinite benefits are fabulous, the TD Cash Back Visa Infinite* Card kicks in a couple more perks. First, java junkies can get 50% more Starbucks Stars with every daily latte, thus reaping extra savings on that expensive habit †.
Second, free Emergency Road Services through the Deluxe TD Auto Club Membership † is a huge lifesaver if you find yourself unexpectedly stuck in a ditch.
Related read: What Are the Benefits of Joining a Roadside Assistance Program?
The TD Cash Back Visa Infinite* Card wins this round.
Insurance coverage
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| Insurance coverage* |
- Purchase protection: 90 days - Extended warranty: 1 year - Travel accident: $500,000 - Emergency medical term: 15 days - Trip cancellation: $1,500 - Trip interruption: $2,000 - Baggage delay: $500 - Lost or stolen baggage: $500 - Rental car theft and damage - Mobile device: $1,000 |
- Purchase protection†: 90 days - Extended warranty†: 90 days - Emergency medical term†: 10 days - Delayed and lost baggage†: $1,000 - Mobile device†: $1,000 |
*Insurance coverage is subject to change. Refer to your insurance certificate or contact your credit card issuer for full terms and conditions.
With 10 types of insurance for shopping and travel, and generous coverages to boot, the Scotia Momentum® Visa Infinite* Card has this one locked up. TD Cash Back Visa Infinite* Card has five types of insurance, but nothing not offered by its competitors.
Its coverages are also either matched or surpassed by the Scotia Momentum, like the 10 days of emergency medical† to Scotia Momentum’s 15 days. Where TD Cash Back Visa Infinite* Card offers 90 days of extended warranty†, Scotia Momentum® Visa Infinite offers a full year, so you won’t need to budget in this expense the next time you're in the market for a new laptop.
When it comes to travel insurance, Scotia Momentum® Visa Infinite also keeps cardholders safe and protected, with rental car insurance, trip cancellation and trip interruption, lost or stolen baggage and baggage delay, and travel accident — all of which are not offered by TD Cash Back Visa Infinite* Card.
As far as credit card-offered insurance goes, the TD Cash Back Visa Infinite* Card is on the basic end, especially for what you pay for in annual fees. Meanwhile, Scotia Momentum® Visa Infinite* Card offers a good, well-rounded insurance package with great value.
Recommended credit score
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| Recommended credit score | 740+ | 660+ |
Like many rewards cards, the Scotia Momentum® Visa Infinite* Card requires an excellent credit score to be eligible. The TD Cash Back Visa Infinite* Card is one rare example of a rewards card accessible to those with a good credit score.
The American Express Cobalt Credit Card is another stellar example of a great card with lower barriers, offering competitive rewards and a minimum credit score eligibility of 660 (or Fair).
Read more: Credit cards and your credit score
Interest rates
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| Interest rates |
Purchases: 20.99% Cash advances: 22.99% Balance transfers: 22.99% |
Purchases: 20.99% Cash advances: 22.99% Balance transfers: 22.99% |
In addition to requiring a higher credit score to be eligible, reward cards also typically have slightly higher interest rates for purchases than other types of cards. No-fee cards, for example, typically have a 19.99% interest rate, and balance transfer cards can run the gamut from 12.99% to 24.99% depending on the card.
Both the Scotia Momentum® Visa Infinite* Card and the TD Cash Back Visa Infinite* Card sit right at the average for what’s expected in their categories, with rates for purchases at 20.99%, and cash advances and balance transfers at 22.99%.
Income requirements
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| Income requirements |
Personal: $60,000 Household: $100,000 |
Personal: $60,000 Household: $100,000 |
Both cards come with the reasonable income requirement of $60,000 for individual cardholders and $100,000 for households.
First-year value
| Cards | Scotia Momentum® Visa Infinite* Card | TD Cash Back Visa Infinite* Card |
|---|---|---|
| First-year value* | $842 | $801† |
*Based on the RATESDOTCA Best of Finance methodology.
Suppose a person spends an average of $2,000 a month on their credit card across several categories like groceries, drugstore purchases and transit. In the first year, their rewards would look something like this:
| Spending categories |
Scotia Momentum® Visa Infinite* Card |
TD Cash Back Visa Infinite* Card |
|---|---|---|
| Groceries | $500 x 4% | $500 x 3%† |
| Gas | $250 x 2% | $250 x 3%† |
| Drugstore | $150 x 1% | $150 x 1%† |
| Travel | $200 x 1% | $200 x 1%† |
| Restaurants | $250 x 1% | $250 x 1%† |
| Entertainment | $150 x 1% | $150 x 1%† |
| Recurring bills | $300 x 4% | $300 x 3%† |
| Retail store | $100 x 1% | $100 x 1%† |
| Local transit | $50 x 2% | $50 x 1%† |
| Other | $50 x 1% | $50 x 1%† |
| Rewards earned monthly: | $47.00 | $41† |
| First-year value (rewards + welcome bonus - annual fee): | $842 | $801† |
| Annual rewards (rewards - annual fee): | $444 | $353† |
According to our Best of Finance methodology, the average Canadian would earn $842 in the first year using the Scotia Momentum® Visa Infinite* Card. This calculation includes the welcome bonus and additional cash bonus from RATESDOTCA.
The card also offers both higher earn rates for popular categories and higher thresholds than its competitor, making this category an easy win. Plus, with a lower annual fee, more cash stays in your pocket.
All these factors combined makes a significant difference in annual rewards as well – with the Scotia Momentum® Visa Infinite* Card, you’re getting $91 more a year than the TD Cash Back Visa Infinite* Card.
Which credit card should you choose?
On the surface, these two cards seem very similar — and any credit card user would be well served by either card.
Both the Scotia Momentum® Visa Infinite* Card and TD Cash Back Visa Infinite* Card offer access to Visa Infinite*’s suite of concierge services and travel experiences for the income requirement of $60,000 per individual and $100,000 per household.
Both also net cardholders 10% off cash back on purchases made in the first three months, and have the same interest rates for purchases, cash advances and balance transfers.
In fact, these cards each have so much going for them that based on the number of categories won, it should be a tie – both cards have won four rounds each.
But once you scratch beneath the surface, you’ll find far more differences than similarities. The Scotia Momentum® Visa Infinite* Card has both higher and more flexible rewards, and higher spending thresholds, making it a winner in the all-too-important battle of earn rates.
Moreover, its well-rounded insurance offerings absolutely dwarf the handful of insurance benefits included with the TD Cash Back Visa Infinite* Card. Lastly, its lower annual fee gives these already-high rewards a significant value boost for cost-conscious shoppers.
However, for its part, TD Cash Back Visa Infinite* Card is nothing to sleep on, either. It throws in more – and better – perks, including the Deluxe TD Auto Club Membership which could end up saving you in a particularly bad jam.
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While, as mentioned, both offer 10% cash back on the first three months, the TD Cash Back Visa Infinite* Card has a higher spending threshold. And its flexible redemption schedule means you can access your cash at virtually any time.
This competition has been neck and neck, and it’s impossible to declare a winner. However, just because we’re calling it a tie doesn’t mean you have to: If you want an accessible card with a lower credit score eligibility, more flexible payouts, and you’re planning on spending big over the first three months, the TD Cash Back Visa Infinite* Card has your name on it.
If, on the other hand, you’re looking for consistently higher cash rewards, better insurance offerings, and a lower annual fee, we recommend the Scotia Momentum® Visa Infinite* Card. Plus, if you sign up before December 22, 2023, you can get even more bang for your buck with a $125 cash bonus from RATESDOTCA.
†Terms and conditions apply.
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