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CIBC Dividend® Visa Infinite* Card Scotia Momentum Visa Infinite

Comparison: 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?

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 the promotions.

Here is how the current offer is structured:

CIBC Dividend Visa infinite front en

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

  • 10% cash back for the first 4 statements on net purchases of up to $2500
  • No annual fee in the first year, including on supplementary cards.
Scotia Momentum Visa Infinite

For a limited time, when you sign up for the Scotia Momentum® VISA Infinite* card, you earn:

  • 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 offer is more advantageous (up to $250 instead of $200 for Scotia), and more spread out over time (4 months instead of 3 for Scotia).

Minimum income

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

Scotia Momentum Visa Infinite

The Scotia Momentum® VISA Infinite* card requires an annual personal income of $60,000 or $100,000 in annual 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 fee

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

Scotia Momentum Visa Infinite

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.

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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
Scotia Momentum Visa Infinite

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%.

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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.

Scotia Momentum Visa Infinite

With the Scotia Momentum® VISA Infinite* card, if you exceed this annual limit per 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 since it is per category (4% / 2%), whereas CIBC offers a purchase limit covering all categories.

Redeeming your cash back balance

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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.

Scotia Momentum Visa Infinite

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

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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 Avis and Budget
  • Save up to 10 cents per litre at participating gas stations
Scotia Momentum Visa Infinite

With the Scotia Momentum® VISA Infinite* card, you will enjoy the following benefits:

  • Visa Infinite Program: hotel benefits, culinary events, complimentary concierge service
  • Up to 25% off car rentals with Avis 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 CIBC Dividend Visa infinite front en Scotia Momentum Visa Infinite
Trip Cancellation Insurance No 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
Lost or stolen luggage insurance No Up to $500
after 4 hours
Hotel Burglary Insurance No No
Car Rental 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® Plan 1 additional year 1 additional year
Purchase Protection® Plan 90 days 90 days

 

Advantage: Scotia

The insurance coverage offered by the Scotia Momentum® VISA Infinite* card is superior. It offers more coverage if you travel.

Conclusion

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 plan to use your credit card to book travel, the Scotia Momentum® VISA Infinite* card may be a better option for you.

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

  • a great welcome offer
  • Cash back easier to redeem
  • Savings at partner gas stations
Scotia Momentum Visa Infinite

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

  • its superior travel insurance
  • greater cash back on your recurring payments
  • higher purchase limits to earn more cash back
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