Credit Cards Head-to-Head: CIBC Dividend^® Visa Infinite* Card vs Scotia Momentum^® VISA Infinite* Card

To the point Here's our comparison between the CIBC Dividend® Visa Infinite* Card and the Scotia Momentum® VISA Infinite* Card. Which one is the best?

Welcome bonus Minimum Income Annual Fees Earning cash back Annual limit Redeeming your cash back balance The Benefits Insurance Bottom Line

CIBC and Scotiabank each have cash back credit cards offering up to 4% cash back:

In this analysis, we compare all their features: welcome bonus, the income required, annual fees, earning rate, insurance, benefits, etc.

Welcome bonus

The welcome bonus offered by each of these cards varies according to promotions.

Here is how the current offer is structured:

For a limited time, when you sign up for the CIBC Dividend^® Visa Infinite* Card, you earn:

10% cash back on all purchases up to $300 during the period covered by your first 4 statements
No annual fee in the first year, including on supplementary cards.

For a limited time, when you subscribe to the Scotia Momentum^® VISA Infinite* Card, get :

10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases)
No annual fee in the first year, including on supplementary cards.

Advantage: CIBC

CIBC’s welcome offer gives more time to reach the ultimate goal (4 months instead of 3 at Scotia) and offers up to $300, while Scotia’s stops at $200.

Minimum Income

The CIBC Dividend^® Visa Infinite* Card requires an annual personal income of $60,000 or $100,000 in annual household income.

The Scotia Momentum^® Visa Infinite* Card requires a $60,000 personal income or $100,000 household income.

It's a tie !

Both CIBC and Scotia cards require a similar income.

If you don’t have that level of income, you’ll need to look at these other cards:

Or choose a card that requires no minimum income, such as the SimplyCash™ Card from American Express.

Annual Fees

The CIBC Dividend^® Visa Infinite* Card has an annual fee of $120.

The Scotia Momentum^® VISA Infinite* Card has an annual fee of $120.

It's a tie !

These two cards offered by CIBC and Scotia have a similar $120 annual fee.

However, both cards offer a first-year annual fee rebate.

Earning cash back

Both cards offer different cash back earning rates.

With the CIBC Dividend^® Visa Infinite* Card, you earn:

4% cash back on gas and groceries
2% cash back on transportation, dining and recurring payments
1% cash back on all other purchases

With the Scotia Momentum^® VISA Infinite* Card, you earn:

4% cash back on groceries and recurring payments
2% cash back on gas and daily transit
1% cash back on all other purchases

Annual limit

For both cards, there are annual purchase limits beyond which the cash back rate drops to 1%, instead of 2% or 4%.

With the CIBC Dividend^® Visa Infinite* Card, if you exceed either of these two annual limits, you will earn 1% cash back on subsequent purchases:

$80,000 in annual purchases charged to the card
or $20,000 in annual purchases on grocery stores, supermarkets, gas service stations and automated fuel-dispensers, commuter transportation, eating and drinking places and restaurants or on recurring payments

This annual limit will reset to zero after the day your December statement is printed.

With The Scotia Momentum^® Visa Infinite* Card, if you exceed this annual limit by category, you will earn 1% cash back on subsequent purchases:

$25,000 in annual purchases from grocery stores, supermarkets, and for recurring bill payments
$25,000 in annual purchases on gas and daily transit

This annual limit is reset to zero after the day following the printing of your November statement.

Advantage: Scotia

The Scotia Momentum^® Visa Infinite* Card offers a higher purchase limit, especially as this is per category (4% / 2%), whereas CIBC’s purchase limit covers all categories.

Redeeming your cash back balance

With the CIBC Dividend^® Visa Infinite* Card, you can redeem cash back whenever you want, as long as you have a balance of at least $25 at the time of the redemption request is made.

With The Scotia Momentum^® Visa Infinite* Card, you earn your cash back annually, on your November statement.

Advantage: CIBC

No debate: the CIBC Dividend^® Visa Infinite* Card offers more flexibility by allowing you to get your cash back faster.

The Benefits

With the CIBC Dividend^® Visa Infinite* Card, you receive the following benefits:

Visa Infinite Program: hotel benefits, culinary events, complimentary concierge service
Up to 25% off car rentals with Review and Budget
Save up to 10 cents per litre at participating gas stations

The Scotia Momentum^® VISA Infinite* Card offers you the following benefits:

Visa Infinite Program: hotel benefits, culinary events, complimentary concierge service
Up to 25% off car rentals with Review and Budget

Advantage: CIBC

Since these are Visa Infinite credit cards, you will have the classic benefits of this type of card.

However, the CIBC Dividend^® Visa Infinite* Card stands out because of its partnership with the Journie Rewards program: you can save up to 10 cents per litre at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.

Insurance

Insurance
Travel cancellation insurance	None	Up to $1,500
Trip interruption insurance	No	Up to $2,000
Out-of-Province/Country Emergency Medical Insurance	Up to $5,000,000 10 days	Up to $1,000,000 15 days
Flight delay insurance	No	Up to $500 after 4 hours
Misdirected Baggage Insurance	No	Up to $500 after 4 hours
Baggage loss or theft insurance	No	Up to $500 after 4 hours
Hotel burglary insurance	No	None
Rental car theft and damage insurance	up to $65,000	up to $65,000
Travel accident insurance	500 000 $	500 000 $
Mobile Device Insurance	1 000 $	1 000 $
Purchase Protection	1 additional year	1 additional year
Purchase Guarantee	90 days	90 days

Advantage: Scotia

The Scotia Momentum^® VISA Infinite* Card offers superior insurance coverage. It offers more coverage if you travel.

Bottom Line

So? Which credit card is the big winner?

For all of its features and with the flexibility of earning cash back, the CIBC Dividend^® Visa Infinite* Card wins the game! However, if you intend to use your credit card to book travel, the Scotia Momentum^® Visa Infinite* Card may be a better option for you.

The CIBC Dividend^® Visa Infinite* Card stands out thanks to:

an excellent welcome offer;
cash back that is easier to access and available more quickly ;
savings at partner service stations.

The Scotia Momentum^® VISA Infinite* Card stands out thanks to:

superior travel insurance ;
larger cash rebates for recurring payments ;
higher purchase limits to earn more cash back.

Come to discuss that topic in our Facebook Group!

Jean-Maximilien Voisine

Jean-Maximilien, President and Founder of Milesopedia, is a recognized expert in rewards programs, credit cards, and travel in Canada and France. Approaching forty and a father of two, he has travelled to over 100 countries, half of them with his children and his wife, Audrey. Specializing in top loyalty programs like Aeroplan, American Express Membership Rewards, and Marriott Bonvoy, he guides travellers to maximize their benefits across North America and Europe.

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