Cash Back Head-to-Head: CIBC Dividend Visa Infinite vs Scotia Momentum Visa Infinite +

Both cards pay the same 4% rate, but for most households the CIBC Dividend^® Visa Infinite* Card pays more, simply because it does not split its cap. It only gives up ground past $20,000 a year in combined groceries and gas: beyond that, its single cap drops the surplus to 1%, while the Scotia Momentum^® Visa Infinite +* Card keeps two separate $25,000 caps that keep earning. Both cost $120 a year, waived the first year, and both return up to $420 in first-year value.

We ran both cash back cards through the same three household profiles, using the rates and caps each issuer publishes, and checked every insurance line against our own card database rather than the marketing pages. The verdict is not the one the headline rates suggest.

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, requested income, annual fees, earning rate, insurance, benefits, etc.

Welcome Bonus

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

Here’s 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 $250 during the period covered by your first 4 statements;
• $50 cash back when you set up a pre-authorized payment within the first 4 months of your membership;
• A refund of the first year’s annual fee ($120 value).

For a limited time, when you apply for the Scotia Momentum^® Visa Infinite +* Card, get:

• 15% cash back on all purchases, up to $2,000 in total spend, for a maximum of $300, during the first three months
• No annual fee in the first year, including on supplementary cards.

Minimum Income

Both cards ask for exactly the same thing: $60,000 in personal annual income, or $100,000 at the household level. For most applicants this requirement, not the cash back rate, is what decides whether either card is on the table.

Annual Fee

Both cards charge $120 a year and both waive it for the first year. The fee only starts to bite in year two, which is why the reward figures in the comparison table further down are shown net of it, while the spending caps that follow have nothing to do with the annual fee.

Earning cash back

Both cards offer different cash back earning rates.

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

• 4% cash back on eligible gas and grocery purchases
• 2% cash back on eligible expenses related to transportation, dining, and everyday spending
• 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 cashback 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 from grocery stores, supermarkets, service stations and gas, public transit, food and beverage outlets and restaurants, or in 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.

Where the caps actually decide

The rates get the attention, but the caps settle the argument. CIBC applies one shared $20,000 limit across every bonus category, so gas eats into the same allowance as groceries. Scotia splits its limit in two, $25,000 per pair, which leaves far more room before anything drops to 1%. Here is what that does to three real households, over a full year, once the first-year fee rebate is behind them. The bold figure is what actually stays in your pocket, after the $120 annual fee.

The pattern is consistent: CIBC wins until bonus-category spending reaches roughly $20,000 a year, about $1,660 a month. Past that point the shared cap bites, everything above it earns 1%, and Scotia pulls ahead even though its headline rates look weaker on gas. The heavy driver still wins with CIBC despite going $2,200 over, because the 4% earned before the cap more than covers the shortfall. The high spender does not: at $32,400 in bonus categories, over a third of the spending has already fallen to 1%.

Do the math for your own spending

The three profiles above are shortcuts. Your own numbers decide which card actually wins for you, and the calculation takes a few minutes.

Worked example: a household spending $22,000 a year on groceries and gas combined hits CIBC’s shared $20,000 cap. The first $20,000 earns 4% ($800), the remaining $2,000 earns 1% ($20), for $820 gross and $700 net of the fee. On Scotia, that same $22,000 in groceries alone fits entirely under its separate $25,000 grocery-and-bills cap: $880 gross, $760 net, before a single dollar of gas is even counted. Scotia wins here not because its rate is higher, it is not, but because CIBC forces gas and groceries to share one ceiling that Scotia splits into two.

Redeeming your cash back balance

Neither issuer makes you wait for a once-a-year payout. Both let you cash out from a $25 balance, whenever you want, through the mobile app or online banking: what actually separates them is your spending habits, not the timing.

The Benefits

Both cards carry the same Visa Infinite package, so the perks that actually separate them are the ones each issuer adds on top. The one you notice on a monthly statement is the CIBC fuel discount, worth up to 10 cents a litre at participating stations.

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

With the Scotia Momentum^® VISA Infinite +* Card, you get the following benefits:

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

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

Who should pick CIBC

Who should pick Scotia

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 comes out ahead for most households: it pays more on gas, its cash back never needs converting, and the Journie discount adds up at the pump. Two profiles should look elsewhere. Anyone spending more than about $20,000 a year in bonus categories, where the shared cap starts costing real money, and anyone who books travel on the card, since CIBC carries no trip cancellation, interruption or flight delay coverage at all. For them, 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.

CIBC Dividend vs Scotia Momentum: FAQ

Here are frequently asked questions in the milesopedia community about these cards.