Comparison: HSBC World Elite Mastercard vs. Scotiabank Passport™ Visa Infinite* Card

The HSBC World Elite Mastercardoffers a different welcome bonus depending on your province of residence (Quebec or outside Quebec).

In Quebec: annual fees must be paid in the first year. However, to compensate, HSBC offers the equivalent of this fee in points (30,000 points), and no minimum spending is required to get the Welcome Bonus!

Outside Quebec: annual fees are generally waived in the first year. On the other hand, the offer will be less generous in points, and there will often be a minimum spending requirement in the first 3 to 6 months (usually $5,000).

The Scotiabank Passport Visa Infinite Card offers the same Welcome Bonus across Canada. To get the welcome bonus, you will need to spend $1,000 in 3 months.

In the welcome offer, Scotia also includes an additional 10,000 points that can be earned after $40,000 in purchases during the year.

With the HSBC World Elite Mastercard, you can earn 6 points per dollar (or 3%) for travel purchases and 4 points per dollar (or 2%) for purchases in:

• Grocery store
• Gas station
• Drugstore

With the Scotiabank Passport Visa Infinite Card, you get 2 points per dollar of purchase in:

• grocery stores
• Restaurants
• Entertainment
• Transportation

This is a 2% value.

With the HSBC World Elite Mastercard, you can earn 2 points per dollar on all other purchases.

This is a 1% value.

With the Scotiabank Passport Visa Infinite Card, you get 1 point per dollar for all other purchases.

This is a 1% value.

With the HSBC World Elite^® Mastercard^®, you can apply your points to travel purchases charged to the card.

The redemption rate is 20,000 points = $100.

You must apply at least 25,000 points (or a minimum of $125), thereafter it will be in increments of 10,000 points (or $50).

With the Scotiabank Passport Visa Infinite Card, you can apply your points to travel purchases.

The utilization rate is 10,000 points = $100.

You must apply at least 5,000 points (i.e. minimum $50), thereafter it will be in increments of 1 cent = 1 point.

The HSBC World Elite Mastercard allows you to use your points for HSBC gift cards, items or investment products.

For example, you can use 65,000 points for a $200 Costco gift card.

The Scotiabank Passport Visa Infinite Card allows you to apply your points to everyday purchases.

The utilization rate is between $6.67 and $8 per 1,000 points.

You must apply at least 3,000 points (i.e. minimum $20), afterwards it will be per increment (4,500 – 7,500 – 11,000 – 14,000 – 21,000 – 37,500 – 62,500).

With the HSBC World Elite^® Mastercard^®, you can transfer your travel points into airline miles.

HSBC Rewards is a partner with three airline loyalty programs:

• Asia Miles – Cathay Pacific
• Krisflyer – Singapore Airlines
• Executive Club – British Airways

The Scotiabank Passport™ Visa Infinite* Card is part of the SCENE+ loyalty program.

This program does not have partners to transfer points.

The HSBC World Elite^® Mastercard^® has an annual fee of $149.

However, this card offers an annual $100 Annual Travel credit, which means it only costs $49 a year!

And if you have an HSBC Premier account, you get an additional $50 rebate.

The Scotiabank Passport™ Visa Infinite* Card has a $150 annual fee.

However, it comes with six airport lounge visits, which may justify its cost.

And if you have a Scotiabank Ultimate Plan, you’ll get the annual fee waived. Learn more about this here.

The HSBC World Elite^® Mastercard^® requires:

• $80,000 (individual income)
• or $150,000 (household income)

The Scotiabank Passport™ Visa Infinite* Card requires :

• $60,000 (individual income)
• or $100,000 (household income)

The HSBC World Elite Mastercard offers different insurances:

• Global Travel Medical Emergency Insurance: $2,000,000 and 31 days (under 65); $2,000,000 and 21 days (over 65)
• Baggage Delay or Loss of Baggage Insurance: $1,000 per person
• Flight Delay Insurance: $500 per person
• Trip Cancellation/Trip Interruption/Trip Delay Insurance: $2,000 per person
• Car Rental Insurance: up to 31 days
• Hotel/motel theft insurance: up to $1,000
• Purchase insurance: 90 days (loss, damage, theft)
• Mobile Device Insurance: up to $1,000
• Extended Warranty Insurance: Doubling the Warranty
• Price Protection Service: 60 days after purchase

The Scotiabank Passport Visa Infinite Card offers a variety of insurance options:

• Worldwide Emergency Travel Medical Insurance: $1,000,000 for 25 days (under age 65)
• Flight Delay Insurance: $500 per person
• Baggage Delay or Loss of Baggage Insurance: $1,000 per person
• Trip Cancellation, Interruption/Delay Insurance: $2,500 per person
• Vehicle Rental Insurance: up to 48 days
• Purchase insurance: 90 days (loss, damage, theft)
• Extended Warranty Insurance: Doubling the Warranty
• Price Protection Service: 60 days after purchase

The HSBC World Elite Mastercard offers a number of benefits:

• no conversion fee for foreign currency purchases
• $100 annual travel credit (for airport lounges, for example)
• 12 annual 90 minute accesses with unlimited data for WiFi with Boingo worldwide
• 10% discount for hotel bookings on Expedia or Agoda

The Scotiabank Passport Visa Infinite Card offers a variety of benefits:

• no conversion fee for foreign currency purchases
• 6 complimentary passes to airport VIP lounges