The one thing that holds this card back is the reward structure. Although you earn Avion points, Avion has three tiers, and points earned with ION cards are the least valuable. That said, your points still have flexibility, and there’s a way to upgrade your points to the higher tiers. Read my RBC Ion+ Visa review now.

Welcome bonus and earn rate

The RBC ION+ Visa credit card typically offers a bonus of up to 7,000 – 14,000 Avion points (a $50 – $100 gift card value).

The earning rate for the RBC ION+ Visa Vard is generous. You’ll get 3 Avion points per $1 spent on groceries, dining, food delivery, rideshares, daily transit, gas, EV charging, streaming, digital gaming and subscriptions. All other purchases earn you 1 Avion point per dollar spent.

The card does charge a monthly fee of $4 ($48 annually). While most student credit cards have a no or low annual fee, $4 a month is pretty reasonable. That said, if you have an RBC Signature No Limit Banking or RBC Advantage Banking for students account, the fee is waived.

Benefits and perks

As you read this RBC ION+ Visa review, you’ll quickly realize that most of the benefits included with the card are standard RBC benefits. That said, one perk stands out and will likely appeal to many people.

Mobile device insurance

When you purchase a mobile device (cellphone and tablet) and pay for it in full with your RBC ION+ Visa Card, you get mobile device insurance that covers up to $1,000 for two years. This insurance covers things such as damage, theft, and even loss. If you’re on a subsidized plan, you must pay your bill in full with your RBC ION+ Visa Card. Note that depreciation is factored into your payout if you ever need to make a claim.

Save at Petro-Canada

Anyone that fills up at Petro-Canada may be interested to learn that you’ll save 3¢ per litre on fuel and earn 20% more Petro points when paying with your linked RBC ION+ Visa Card. This may not seem like a big deal, but not only are you saving on gas, but you also get an increased earning rate on gas purchases, and you’re earning Petro points.

Earn Be Well points at Rexall

Although Be Well points isn’t the best loyalty program. If you regularly shop at Rexall, you can earn 50 Be Well points per dollar spent when you scan your Be Well card and pay with your linked RBC ION+ Card.

Save on delivery fees with DoorDash

RBC ION Visa Plus cardholders get a 3-month complimentary DashDash Pass subscription. With DashPass, you won’t pay any delivery fees if you spend at least $15 or more with DoorDash and pay with your RBC ION+ Visa Card. There is no limit to this $0 delivery fee benefit.

Purchase insurance

• Purchase security – 90 days
• Extended warranty – Up to one additional year

Purchase security is a benefit you hope never to use, but you’ll be glad you have it if you ever need it. Charging purchases to your RBC ION+ Visa card protects them from loss, theft, and damage for 90 days. As for the extended warranty, purchases charged to your card get the manufacturer’s warranty doubled, up to one additional year, to a maximum of five years.

How to redeem your points

As mentioned, Avion Rewards has three tiers. ION cardholders get the most basic version of Avion Rewards and get the following redemption options:

• Gift cards: 140 points = $1
• Travel: 172 points = $1
• Pay with Points: 172 points = $1

When you do the math, that works out to a value of .71 cents per point (CPP) for gift cards and .58 CPP for travel and statement credits. This is important since your earn rate of 3X on select categories is actually a real value of 2.13 cents per dollar spent when redeeming gift cards. If you’re redeeming for travel or a statement credit, it’s 1.74 cents.

Interestingly, you can transfer your Avion points to WestJet Rewards at the standard ratio of 100 Avion points for 1 WestJet dollar. This instantly increases the value of your points to 1CPP.

Alternatively, if you ever upgrade to a premium Avion card, such as the RBC Avion Visa Infinite Card, your points are upgraded too. That gives you access to more airline transfer partners and the RBC Air Travel Redemption Schedule. The Redemption Schedule can be very valuable since you can redeem a set number of points for significant flight discounts.

RBC ION+ Visa requirements

• You’re a Canadian citizen or permanent resident
• You’re at least the age of majority in your province or territory

What’s great about the RBC ION+ Visa Card is that it has no formal minimum income requirement. This makes it a great choice for students or new immigrants who want a credit card with a reasonable earning rate without worrying about a high personal income requirement. There’s also no formal minimum credit score to be approved, but I recommend having yours be at least 660 before applying. This puts you in good standing and can help increase your approval odds.

How the RBC ION+ Visa compares

To wrap up my RBC ION+ Visa review, I want to compare it to other cards to give you some perspective. Due to the unique reward structure and low annual fee, it’s hard to find exact comparisons. Instead, I’ll mention a few different cards that have similarities.

RBC ION+ Card vs. American Express Cobalt Card

While not entirely a fair comparison, many people will compare the RBC ION+ Visa card to the American Express Cobalt Card. Both cards have a monthly fee and a high earning rate. With the Amex Cobalt card, you’ll pay $12.99 monthly ($155.88 annually). As for the earn rate, you get 5 points per $1 spent on eats and drinks (includes groceries, restaurants, and food delivery), 3 points on streaming services, and 2 points on travel (includes rideshares and transit). All other purchases earn 1 American Express Membership Rewards point per $1 spent. Even with the higher annual fee, this card is worth considering since American Express Membership Rewards points are highly valuable.

RBC ION+ Card vs. RBC ION Card

Sticking to the RBC family, you could take a look at the e RBC ION Visa Card, which is the no fee version of the ION Card. With the basic version of the ION Card, you’ll earn 1.5 Avion points per dollar spent on groceries, rideshares, daily public transit, gas, EV charging, streaming, digital gaming and subscriptions. That’s basically half of what you get with the ION+ Card. All other purchases earn you 1 Avion point per dollar spent, and you get no mobile device insurance.

RBC ION+ Card vs. WestJet RBC Mastercard

Since you know that you can convert your Avion points earned with your RBC ION+ Card to WestJet dollars at a favourable rate, you may want to compare things to the WestJet RBC Mastercard. The WestJet card has an annual fee of $39 and earns you 1.5% back in WestJet dollars on WestJet flights or WestJet vacation packages. All other purchases earn you 1% back in WestJet dollars. You could easily make the argument that the RBC ION+ Card is better, but the WestJet RBC Mastercard comes with an annual companion voucher, which can be pretty valuable.

Final thoughts

My RBC ION+ Visa review is positive. The card is good for people in the following situations:

• You don’t have a high income – No minimum personal income requirement is needed for this card.
• You don’t want to spend a lot on annual fees – The monthly fee of $4 is reasonable for the earning rate and benefits you get.
• You may want to upgrade your card later – Although your points are flexible, they can be worth even more if you upgrade to a true Avion card later.

For a relatively low fee, you get a decent earning rate and mobile device insurance. While this card can’t compete with premium credit cards, it’s one of the best student credit cards in Canada and is ideal for someone looking for a low fee credit card.

*Refer to RBC page for up to date offer terms and conditions

Since this card has a low minimum personal income requirement of $12,000, it’s an excellent choice for those who don’t meet the higher income requirement that comes with the WestJet RBC World Elite Mastercard. Read my WestJet RBC Mastercard review now for the full details.

WestJet RBC Mastercard

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• $39 annual fee
• Earn 5,000 WestJet points after your first purchase
• Earn an additional 10,000 WestJet dollars when you spend $1,000 in the first 3 months
• Earn 1.5% back in WestJet dollars on WestJet flights or WestJet Vacations packages
• Earn 1% back in WestJet dollars on all other purchases
• Annual companion voucher

Welcome bonus and earn rate

When signing up for the WestJet RBC Mastercard, the bonus has consistently been worth up to 10,000 WestJet points. You’ll typically get 5,000 WestJet points after your first purchase and another 5,000 WestJet points when you spend $1,000 in the first three months of cardmembership.

As for the earning rate, you’ll earn 1.5% back in WestJet dollars on WestJet flights and WestJet vacation packages. All other purchases earn you 1% back in WestJet dollars. Although the earning rate may seem low, the rewards are reasonable for a card with an annual fee of just $39.

Benefits and perks

Since this is considered an entry level card, you won’t get many benefits. That said, it does come with one significant WestJet benefit that makes this card a keeper.

Annual round-trip companion voucher

The best benefit of the RBC WestJet Mastercard is the annual round-trip companion voucher. With this voucher, the primary cardholder can add a travelling companion to the same round-trip itinerary for a base fare of just $199 plus taxes, fees, and charges. This applies to anywhere in Canada and the continental U.S. (no Hawaii). Depending on your destination, this could save you a few hundred dollars.

Save on fuel at Petro-Canada

When you link your WestJet RBC Mastercard, you’ll instantly save three cents per litre on fuel at Petro-Canada gas stations. In addition, you’ll earn 20% more Petro-Points.

Earn Be Well points at Rexall

Anyone who shops at Rexall regularly will be interested to hear that your linked WestJet RBC Mastercard earns you 50 Be Well points per dollar spent on all eligible purchases. These bonus points are added to any in-store and personal Be Well offers.

No delivery fees with DoorDash for 3 months

The RBC WestJet Mastercard entitles you to $0 delivery fees for three months when making orders on DoorDash. This benefit usually costs $10 per month. To get your free delivery, you must order at least $15 and pay with your WestJet RBC Mastercard.

Travel insurance

• Travel accident – up to $500,000
• Hotel/motel burglary – up to $2,500
• Delayed baggage insurance – up to $500 / 4 hours
• Auto rental collision/loss damage waiver insurance – $65,000 – 48 days

Many people will be surprised about the travel insurance included while reading this WestJet RBC Mastercard review. Although you don’t get travel medical or trip cancellation insurance, you get a decent amount of extended travel insurance.

Purchase insurance

• Purchase security – 90 days
• Extended warranty – Up to one additional year

Purchase insurance is rarely used, but you’ll be glad you have it if you ever need to make a claim. When you charge the total cost of your purchase to your WestJet RBC Mastercard, you’re covered from loss, theft and damage for 90 days thanks to the included purchase security. As for the extended warranty, it’s doubled up to one additional year.

How WestJet Rewards works

WestJet Rewards is a very basic loyalty points. For flights, you can redeem 100 WestJet Points for $1 off the base fare. You can also use your points on seat selection and taxes, but the redemption rate is a little lower.

Many people like WestJet Rewards because of the benefits you get and how easy it is to earn higher status. WestJet Rewards has four tiers: teal, silver, gold and platinum. You get higher tier status based on how much you spend on qualifying WestJet flights and vacations. As your tier goes up, you get additional benefits.

If WestJet is the main airline you fly with, earning WestJet points and having a co-branded credit card will save you money on future flights and vacation packages.

WestJet RBC Mastercard eligibility

• You must be a Canadian citizen
• You must be the age of majority in the province or territory where you live
• You must have a personal income of $12,000

RBC doesn’t state a specific credit score that’s required to be approved. That said, I recommend only applying if your credit score is at least 660. That puts you in good standing, and it may increase the odds of you being approved.

How the WestJet RBC Mastercard compares to others

It isn’t easy to compare the WestJet RBC Mastercard to others since it’s pretty specific. That said, this is technically an airline credit card and another WestJet credit card is available, so we’ll use those as comparables.

WestJet RBC Mastercard vs. WestJet RBC World Elite Mastercard

The WestJet RBC World Elite Mastercard is a higher tier WestJet card. This card earns you 2% in WestJet dollars on WestJet flights and vacation packages. All other purchases earn you 1.5% back in WestJet dollars. In addition, you get a better companion voucher, more travel insurance, and the first checked bag free for the primary cardholder and up to eight guests travelling on the same reservation. While this card has better benefits, it has a higher annual fee of $119 and a minimum personal income requirement of $80,000.

WestJet RBC Mastercard vs. CIBC Aeroplan Visa Card

With the CIBC Aeroplan Visa Card, you’ll earn 1 Aeroplan point per dollar spent on gas, groceries, and Air Canada purchases. All other purchases earn you 1 Aeroplan point per $1.50 spent. Although this earning rate may seem low, 1 Aeroplan point can be worth 1.5 – 2 cents each, so there’s some good value here. However, Aeroplan is the loyalty program of Air Canada, so if you mainly fly WestJet, you’d be better off with a WestJet credit card. The CIBC Aeroplan Visa Card has no annual fee.

WestJet RBC Mastercard vs. American Express Green Card

One other card that’s worth comparing is the American Express Green Card. It has no annual fee, and you’ll earn 1 American Express Membership Rewards point per dollar spent on all purchases. With Membership Rewards, you can redeem 1,000 points for a $10 statement credit. That means if you booked a flight on WestJet, you could use your points on the entire purchase, including taxes and additional charges.

Final thoughts

My WestJet RBC Mastercard review is positive. This card is ideal for people in the following situations:

• You fly WestJet regularly – With this card, you’ll earn WestJet points on all eligible purchases and get a free annual companion voucher.
• You don’t want to pay a high annual fee – The yearly fee of $39 is reasonable for what you get.
• You don’t have a high income – This card has a low minimum income requirement of $12,000.

If you fly WestJet regularly and you’re looking for a travel credit card, this card could be a good fit for you. The annual round-trip companion voucher within Canada for $199 plus taxes, fees, and charges is an incredible benefit that should be reason enough to sign up for the card.

WestJet RBC World Elite Mastercard

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• $119 annual fee
• 25,000 WestJet points after your first purchase
• 5,000 WestJet points up to twelve (12) weeks after your first purchase
• 30,000 WestJet points after spending $5,000
• 10,000 WestJet points up to sixteen (16) weeks after your first anniversary
• Earn 2 WestJet points per dollar spent on WestJet, WestJet Vacations, Sunwing Vacations, groceries, and gas
• Earn 1.5 points per $1 spent on all other purchases
• Receive a round-trip companion voucher
• Get free first checked bags for the primary cardholder and up to 8 guests on the same reservation

Welcome bonus and earn rate

The WestJet RBC World Elite Mastercard has consistently had a welcome bonus worth between 25,000 and 70,000 WestJet Points. That’s a real value of $250 to $700.

As for the earn rate, you’ll get 2% back in WestJet dollars on WestJet flights and WestJet Vacations packages. All other purchases earn you 1.5% back in WestJet dollars. The earn rate on base spending is higher than many other travel credit cards. I personally use this card at Costco as it has a higher earn rate than many of the best Costco credit cards in Canada.

Benefits and perks

Most people who apply for the WestJet RBC World Elite Mastercard are interested in the benefits. Fortunately, this card comes packed with perks, so it won’t disappoint you.

First checked bag free

When flying with WestJet, the primary cardholder and up to 8 additional guests travelling on the same itinerary get their first checked bag free (up to 9 bags total). This is significant because a checked bag starts at CA$30 each way. That means a couple travelling once would save $120. That’s the exact cost of the annual fee. Note that you must charge the full cost of the flight to your WestJet card for the insurance to apply.

Companion voucher

As a cardholder, you’re entitled to a WestJet companion voucher every year (including your first year). With this voucher, a companion travelling with the primary cardholder will pay a reduced base fare for economy and premium economy seats. The itinerary has to be the same, but this is an easy way to save. The cost of the companion voucher is as follows:

• $119 CAD base fare for round-trip travel in Canada and the continental U.S.
• $399 CAD base fare for round-trip travel for the rest of the WestJet network

Note that after your first anniversary, you must charge $5,000 to your card before you get the companion voucher.

Boingo Wi-Fi

Even though many people can access data when travelling, the WestJet RBC World Elite Mastercard gives you a free Boingo wireless account. This allows you to surf for free on select planes, in airports, and in the public. Boingo says they have more than one million locations worldwide, so this could benefit some travellers.

Airport lounge access

With this card, you get access to airport lounge access. What some people don’t realize is that you get access to the Mastercard Travel Pass Program provided by DragonPass with this card. That means you can access more than 1,000 lounges worldwide. The one major downside is that you only get a membership. You still need to pay for individual visits, which typically cost US$32.

Save on gas at Petro-Canada

As long as your WestJet RBC World Elite Mastercard is linked to Petro-Points at Petro-Canada, you’ll save 3 cents per litre on gas and earn 20% more Petro-Points.

Earn Be Well points at Rexall

When your card is linked, you’ll earn 50 Be Well points per dollar spent on eligible purchases at Rexall. This is in addition to any in-store and personal offers.

Travel insurance

• Travel medical – Unlimited for 15 days / 3 days if you’re 65 or older
• Trip interruption – up to $5,000 per person / $25,000 total
• Flight/trip delay – up to $250 / 4 hours / $500 total
• Delayed and lost baggage – up to $500 / 4 hours / $2,500 total
• Auto rental car collision/loss damage – 48 consecutive days / $65,000
• Hotel/motel burglary – $2,500
• Travel accident insurance – up to $500,000

What makes this WestJet RBC World Elite Mastercard review interesting is that you get unlimited travel medical coverage. Not many credit cards offer that much coverage. Please note that you must charge the entire travel purchase to your credit card for the insurance to be applicable. If you’re using some WestJet dollars for your flight, the remaining balance must be paid with your WestJet RBC World Elite Mastercard for your insurance to be valid.

Purchase insurance

• Purchase protection – 90 days
• Extended warranty – Up to one additional year

With purchase protection, any items charged in full to your WestJet RBC World Elite Mastercard are covered from loss, theft, and damage for 90 days. You also get your manufacturer’s warranty doubled, up to one additional year.

How WestJet Rewards works

WestJet used to use a dollar system, but converted the loyalty program to points in 2025. That said, WestJet points usually have a fixed value of 100 points = $1 off a flight. If you’re redeeming your points for extra such as seat selection and taxes, the value is a little lower.

Because of this fixed value, you won’t be able to get cheap business class flights compared to other programs such as Aeroplan.

Overall, WestJet Rewards is likely suitable for people who live in Alberta since WestJet offers a lot of flights there. However, if you’re looking for aspirational travel redemptions, you might be better off collecting Aeroplan points.

WestJet RBC World Elite Mastercard eligibility

To qualify for the WestJet RBC World Elite Mastercard, you must meet the following requirements:

• Must be a Canadian citizen
• Must be the age of majority in the province or territory in which you reside
• Must have a personal income of $80,000 or a household income of $150,000

Like all banks, RBC does not specifically list a credit score required to be approved for this card. That said, you likely want yours to be at least 660 before applying for this card, which will put your credit score in good standing.

How the WestJet RBC World Elite Mastercard compares

It’s time to go over comparable cards in this WestJet RBC World Elite Mastercard review. If you’re considering the WestJet RBC World Elite Mastercard, it’s safe to assume you fly with WestJet regularly or are planning to fly with WestJet. Although this is the best WestJet card on the market, it’s still worth comparing it to some additional cards.

WestJet RBC World Elite Mastercard vs. TD Aeroplan Visa Infinite Card

The TD Aeroplan Visa Infinite Card is one of the core tier Aeroplan cards. Since Aeroplan is the loyalty program of Air Canada, you’ll get benefits that are related to the airline, such as your first checked bag free. Although you don’t typically get a companion voucher with the TD Aeroplan Visa Infinite Card, you get a welcome bonus of around 50,000 Aeroplan points. That could easily have a value of $1,000, which is much more than what WestJet offers. In addition, the TD card has better travel insurance and comes with mobile device insurance.

WestJet RBC World Elite Mastercard vs. WestJet RBC Mastercard

For those that are not big on annual fees, WestJet offers a lower tier card in the WestJet RBC Mastercard. The earn rate isn’t as good, and you don’t get your first bag checked for free. You do get a companion voucher, but the base fare you’ll pay is higher than the WestJet RBC World Elite Mastercard.

WestJet RBC World Elite Mastercard vs. American Express Aeroplan Reserve Card

Anyone looking for premium airline benefits may want to consider the American Express Aeroplan Reserve Card. You and a guest get unlimited access to Maple Leaf Lounges in North America. In addition, you get your first checked bag free, priority boarding (Zone 2), priority baggage handling, priority check-in and more. These perks are excellent, but the card does have an annual fee of $599.

Final thoughts

My WestJet RBC World Elite Mastercard review is positive. It’s a versatile card that’s great for people in the following situations:

• You fly WestJet often – Getting your free first checked bag free is a convenient perk for those who frequently fly with WestJet.
• You want to travel for less – Since the WestJet companion voucher is given shortly after you sign up for the card, you can use it for any upcoming travels. This is an excellent way for couples and families to save.
• You have an upcoming WestJet flight – The base welcome offer typically only requires you to make a single purchase to get the bonus.

As a co-branded credit card, people who fly with WestJet will find this card useful. That said, even if you don’t fly WestJet often or you have a single WestJet flight coming up, getting the card could be worth it since you’ll get your first checked bag free and you’ll earn WestJet dollars.

What’s interesting is that this card still has an incredible earning rate, and some of the best travel and purchase insurance available, so it’s still a potential keeper. Read my Scotia Momentum Visa Infinite review now to find out why it’s one of the best Scotiabank credit cards in Canada.

Scotia Momentum Visa Infinite Card

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• $120 annual fee – first year free
• Earn 15% cash back on all purchases for the first 3 months (up to $2,000 in purchases)
• Earn 4% cash back on groceries, recurring bills and subscription purchases
• Earn 2% cash back on gas, daily transit and food delivery purchases
• Earn 1% cash back on all other purchases with no cash back limit
• Travel and mobile device insurance included

Welcome bonus and earn rate

The Scotia Momentum Visa Infinite Card typically offers 10% cash back on all purchases for the first three months (up to $2,000 in spending), but it has been as high as 15% back. In addition, the annual fee of $120 is usually waived for the first year as part of the welcome bonus.

As for the earning rate, you’ll get 4% cash back on groceries, recurring bills, and subscription purchases, 2% on gas, transit and food delivery purchases, and 1% on all other purchases. Even though you get a high earn rate for multiple categories, there is an annual spending cap of. $25,000 Once you reach that amount, your earning rate drops to 1%. 

Benefits and perks

Like many cash back credit cards, the Scotia Momentum Visa Infinite doesn’t give you a ton of perks. That said, you do get some great insurance and Visa Infinite benefits.

Mobile device insurance

When you charge the full price of a mobile device (cellphone or tablet) to your Scotia Momentum Visa Infinite Card, you’re covered for up to $1,000 from loss, theft, or damage. Note that if you ever need to make a claim, depreciation applies.

Travel insurance

• Travel medical – $1,000,000 coverage up to 15 days
• Trip interruption – $2,000 per insured person (max $10,000 per trip)
• Trip cancellation – $1,500 per insured person (max $10,000 per trip)
• Flight delay – $500 per trip for eligible expenses for all insured travellers after a delay of 4 hours
• Delayed and lost baggage – $500 per trip for eligible expenses for all insured travellers after a delay of 4 hours
• Travel accident – $500,000 covering common carriers including airplanes, cruise ships, trains or buses
• Rental car collision / loss damage insurance – $65,000/48 days

For a cash back card, the included travel insurance is quite impressive. You only need to charge 75% of your trip costs to your card for the trip cancellation and trip interruption insurance to apply. However, for rental cars, you need to charge the full amount. There is no hotel/motel burglary insurance included.

Purchase insurance

• Purchase security – 90 days
• Extended warranty – Up to one additional year

When charging your purchases to your Scotia Momentum Visa Infinite Card, you’re covered for 90 days from loss, theft, and damage, thanks to the included purchase security. In addition, you get an extended warranty on purchases for up to one additional year.

Concierge service

As a Visa Infinite cardholder, you get access to a personal concierge. Available 24/7, these concierges are able to help you with dinner reservations, shopping, and more. Note that concierge can’t make miracles happen, so be realistic about your requests.

Save on car rentals

When renting a car at participating AVIS and Budget locations in Canada and the U.S., you’ll get up to 25% off the base rate when paying with your Scotia Momentum Visa Infinite Card.

Visa Infinite Hotel Collection

Visa has exclusive deals with hundreds of hotels where you can get a free room upgrade and Wi-Fi when you book directly with them.

Visa Infinite Dining and Wine Country program

Throughout the year, Scotiabank offers cardholders tickets to exclusive dining events where you can meet celebrity chefs and more.

When your Scotiabank cash back is paid out

Scotiabank now pays out the cash back anytime as long as you’ve earned at least $25 in rewards. Previously, you had to wait until November to get your cash back so this change makes things much more flexible.

Scotia Momentum VISA Infinite eligibility

• You’re a Canadian citizen or permanent resident
• You’re at least the age of majority in your province or territory
• You have a minimum annual personal gross income of $60,000
• You haven’t declared bankruptcy in the past 7 years
• Your home address matches your credit report home address

Although the Scotia Momentum VISA Infinite Card doesn’t have a formal minimum credit score requirement, a score of at least 700 is recommended.

How the Scotia Momentum Visa Infinite Card compares

Scotia Momentum Visa Infinite Card vs. American Express Cobalt Card

A natural comparison is the American Express Cobalt Card since it has a similar earning rate. The Cobalt Card gives you 5 American Express Membership Rewards points per $1 spent on eats and drinks (including grocery stores), 3 points on popular streaming services, 2 points on travel and transit, and 1 point on all other purchases. Since you can redeem 1,000 points for a $10 statement credit, this is essentially a hybrid cash back/travel rewards card.

Admittedly, the Scotia Momentum Visa Infinite Card has better insurance, but American Express Membership Rewards is a better program than Scene+. That’s because you can transfer your Membership Rewards points to other loyalty programs such as Aeroplan and Marriott Bonvoy. Depending on the redemption, you could get an increased value for your points.

Scotia Momentum Visa Infinite Card vs. BMO CashBack® World Elite®* Mastercard®*

The BMO CashBack® World Elite®* Mastercard®* also has an impressive earning rate of 5% cash back on groceries, 4% on transportation, 3% on gas and electric vehicle charging, 2% on recurring bills, and 1% on all other purchases. The catch is, there are monthly caps of $500 on groceries, $300 on transit, $300 on gas and electric vehicle charging, and $500 on recurring bills. If you typically spend more than that, then the Scotiabank is a better choice since it has a yearly cap, not a monthly one.

Scotia Momentum Visa Infinite Card vs. Tangerine World Mastercard

Of the best cash back credit cards in Canada, one other card worth comparing is the Tangerine World Mastercard. With the Tangerine card, you can choose up to three categories that will earn you 2% cash back, while all other purchases earn you 0.5% cash back. This is clearly lower than what the Scotia Momentum Visa Infinite Card offers, but it has no annual fee, which will appeal to many people. 

Final thoughts

It should be pretty obvious that my Scotia Momentum VISA Infinite review is positive. It’s one of the best no-fee cash back card available and I’d argue it’s an excellent choice as a “travel rewards” card. Although the cash back is easy to redeem, it’s only paid out once a year in November as a statement credit or deposited directly into your personal chequing or savings account if you bank with Scotia.

While giving you more choice on how much cash back you can earn is definitely a huge advantage, that’s not something you should rely on alone when picking a credit card. Read my Tangerine money-back credit card review now to find out how much cash back you can earn, what other benefits are included, and how the card compares to others.

Tangerine Money-Back Card

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• No annual fee
• 10% cash back up to $1,000 in spending ($100 cash back) for the first 2 months
• 2% cash back on up to 3 categories
• 0.5% cash back on all other purchases

Welcome bonus and earn rate

The Tangerine Money-Back Credit Card often has a welcome bonus where you can earn 10% cash back in the first two months. This amount is usually capped between $100 and $200 in cash back.

As for the earn rate, you’ll earn 2% cash back on two categories of your choice. However, if you select to have your cash-back deposited right to your Tangerine savings account, you can choose a third bonus category that gives you 2% cash back. All other everyday purchases earn you 0.5% in cash-back.

Picking your categories is unique since every other cash back credit card out there has defined multipliers for each category. With this card, you get to choose the categories that will earn you the most cash back. One thing I don’t like is how travel doesn’t have its own category. Yes, there’s “hotel/motel,” but that’s just part of your travel expenses. Flights don’t fall under any cash-back categories, which means you can’t earn any bonus cash back with them. You’ll earn the base earn rate.

Tangerine Money-Back Credit Card categories

As mentioned, the Tangerine Money-Back Credit card allows you to choose up to three categories where you’ll earn 2% cash back. There are ten categories to choose from, which are as follows:

• Grocery
• Furniture
• Restaurants
• Hotel/motel
• Gas
• Recurring bill payments
• Drug store
• Home improvement
• Entertainment
• Public transportation and parking
• E-Games
• Fitness
• Foreign currency spend

The money-back rewards categories are diverse, so it shouldn’t be hard to find the three you spend the most on. That said, there are a few quirks. Walmart Superstores fall under the grocery category, so any purchase you make there could earn you 2% cash back. Unfortunately, regular Walmarts and Costco don’t count as grocery transactions.

Gas at Costco does count towards the gas category since you pay for that directly at the pump. Recurring bill payments need to be automatic bill payments that are charged directly to your credit card. That means purchases like new hardware at your mobile provider wouldn’t count for the extra cash back.

Entertainment purchases refer to sports venues, theatres, amusement parks, tourist attractions, zoos and more. Finally, there’s public transportation which includes things such as buses, trains, taxis and even road tolls.

You can change your categories whenever you want to, but they don’t come into effect until the start of your next billing cycle. This is to prevent abusing categories or trying to game the system. This unique feature is the main reason why the Tangerine Money-Back credit card is considered one of the best cash back credit cards in Canada.

Benefits and perks

Since the Tangerine Money-Back credit card is an entry-level card with no fee, it comes with limited benefits. You get the following as a cardholder:

Purchase insurance

The Tangerine Money-Back Card provides you with the following insurance:

• Purchase assurance – This covers your purchases from theft, loss and damage for 90 days from the date of purchase.
• Extended warranty – Purchases charged to your card get the manufacturer’s warranty doubled, up to one extra year.

Balance transfer

With this card, you can make a balance transfer request that gives you a 1.95% interest rate for six months. This is a decent rate if you have an existing credit card balance you want to pay down. A 1% balance transfer fee applies, and you must do it within 30 days of account approval. Even though the interest rate goes up to 19.95% after the promotional rate period ends, the card is still one of the best balance transfer credit cards in Canada. 

How to redeem your cash back

The cash back you earn with your Tangerine Money-Back Credit Card is paid monthly. It can be redeemed into your Tangerine Savings Account or applied directly to your credit card balance. There is no minimum balance requirement for your cash back redemptions.

Purchase protection covers your purchases in the event of loss, theft or damage for 90 days from the date of purchase. As for the extended warranty, any purchases charged to your Tangerine Money-Back Card see its manufacturer’s warranty doubled by up to one additional year. Both benefits are often overlooked and not usually offered with a no-fee credit card, so cardholders of the Tangerine Money-Back credit card should consider this a win.

Tangerine Money-Back Card eligibility

To qualify for the Tangerine Money-Back Card, you must meet the following conditions:

• The age of majority in the province or territory in which you reside
• Be a permanent resident of Canada
• Have a gross annual income of $12,000 or more
• Have not declared bankruptcy over the past seven years

Although there’s no mention of the credit score required, it’s safe to assume that you need to be at least in good standing, so about 670+.

How the Tangerine Money-Back Card compares

Tangerine Money-Back Card vs. American Express SimplyCash Card

As a cash-back card, the Tangerine Money-Back card is comparable to other market leaders to a certain extent. For example, the American Express SimplyCash Card also has no annual fee and gives you 1.25% cash-back on all purchases. The Tangerine card gives you a higher earn rate on up to three categories, so it depends on what categories you spend the most on. That said, since both credit cards offer no fees, you could use your Tangerine card on three categories and then use the American Express SimplyCash card on all other categories to maximize your return.

Tangerine Money-Back Card vs. Tangerine World Mastercard

Another card worth considering is the Tangerine World Mastercard, a higher-tier version of the Money-Back Card that comes with mobile device and rental car insurance. It also has no annual fee, but one of the eligibility requirements is to have a gross annual income of at least $60,000 or a household income of $100,000.

If you prefer something that allows you to earn travel rewards or gives you comprehensive travel insurance, then you should consider one of the best travel credit cards in Canada over the Tangerine card.

Final thoughts

Overall, my Tangerine Money-Back Credit Card review is positive. The card is ideal for people in the following situations:

• You want customization – You get to choose up to three categories where you earn 2% cash back. All other purchases earn you 0.5% cash back.
• You don’t have a high income – The income requirement for this card is just $12,000.
• You don’t want to pay an annual fee – This is one of the best no fee credit cards in Canada.

The Tangerine Money-Back Credit Card keeps things simple by offering straightforward cash back that is paid out monthly. Although it may not have many additional benefits, the card will still be very attractive to many people, including students.

Tangerine World Mastercard

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• No annual fee
• Get $100 in cash back when spending $1,500 in the first 3 months.
• 2% cash back on up to 3 categories
• 0.5% cash back on all other purchases
• Mobile device insurance
• Rental car insurance

Welcome bonus and earn rate

The Tangerine World Mastercard® typically has a welcome bonus in the $100 – $200 range. What’s great about this offer is that it applies to all purchases, not just specific categories.

As for the earn rate, the Tangerine World Mastercard® is one of the best cash back credit cards in Canada since you get to choose up to three categories where you’ll earn 2% cash back. All other purchases earn you 0.5% cash back. You get to choose two categories right away and the third one becomes available when you set your cash back to be applied directly to your Tangerine Savings account.

Tangerine cash back categories

• Groceries
• Restaurants
• Drug store
• Entertainment
• Furniture
• Gas
• Hotel-motel
• Home improvement
• Parking and public transportation
• Recurring bills
• E-Games
• Fitness
• Foreign currency spend

That’s a lot of choices, but, unfortunately, there’s no general travel category. You only have a hotel-motel category. That means flights, cruises, and vacation packages would only earn you the base rate of 0.5% cash back.

Benefits and perks

It’s important to go over the benefits in my Tangerine World Mastercard® review since some of the included perks may determine if you sign up for this card or not. For a no fee card, you get a surprising amount of perks.

Mobile device insurance

You get mobile device insurance up to $1,000. This applies to both cellular phones and tablets. For your insurance to be valid, you must charge the entire cost of your device to your Tangerine World Mastercard®. If you’re getting a phone that’s subsidized, you must charge your monthly bill to your card.

Rental car insurance

The only type of travel insurance you get is rental car collision/loss damage insurance. You’ll be covered for 31 days, but the vehicle can’t have an MSRP of more than $65,000. You must charge the entire amount of your rental card to your credit card and decline any damage insurance from your car rental agency for your insurance to apply.

Purchase insurance

• Purchase assurance
• Extended warranty

Purchase assurance and extended warranty are pretty standard benefits, but they can be incredibly handy if you ever need to make a claim. With purchase assurance, your purchases are protected from theft, loss, and damage for 90 days. As for the extended warranty, your manufacturer’s warranty is doubled for up to one additional year.

Balance transfer

One overlooked benefit is that new cardholders can perform a balance transfer with a promotional interest rate of 1.95% for six months. You must complete the balance transfer within 30 days of account approval, and a 1% fee applies. This balance transfer can help you reduce debt, as most credit cards charge an interest rate of 20%+.

Mastercard World benefits

What many people don’t realize is that all Mastercard World cardholders get the following benefits directly from Mastercard:

• Boingo Wi-Fi – With your Mastercard credentials, you can sign up for a free Boingo Wi-Fi account. This will give you access to more than one million hotspots worldwide. This includes many Wi-Fi hotspots found in airports and on planes.
• Travel Rewards – The Mastercard travel rewards site allows registered cardholders to earn additional cash back at select merchants and travel partners
• Travel Pass provided by DragonPass – When you download the Mastercard Travel Pass app and register, you’ll get access to 1,300+ airport lounges in more than 140 countries. DragonPass provides this service. Note that you still need to pay for individual visits.

Tangerine World Mastercard eligibility

To qualify for the Tangerine Money-Back Card, you must meet the following conditions:

• The age of majority in the province or territory where you live
• Be a permanent resident of Canada
• Have a gross annual personal income of $60,000, a household income of $100,000 or $250,000 invested or saved with Tangerine.
• Have not declared bankruptcy over the past seven years

Like all other banks, Tangerine doesn’t have a formal credit score requirement listed, but you likely want yours to be at least 670 before applying since that would put you in good standing.

How the Tangerine World Mastercard® compares

Cash back credit cards in Canada are very popular, so many similar rewards cards are available on the market. When comparing cards, consider the earning rate, ease of redeeming your cash back and any benefits you get by holding the card.

Tangerine World Mastercard vs. Tangerine Money-Back Credit card

The Tangerine World Mastercard® is an enhanced version of the Tangerine Money-Back Credit Card. In other words, if you want a Tangerine credit card and meet the minimum income requirement, you should apply for the Tangerine World Mastercard® since it gives you additional benefits.

Tangerine World Mastercard vs. American Express SimplyCash Card

Another no fee credit card to look at is the American Express SimplyCash Card, which also has no annual fee. You don’t get any enhanced earn rates on specific categories, but you get 1.25% cash back on all purchases.

Tangerine World Mastercard vs. BMO CashBack World Elite Mastercard

If you’re willing to pay a fee, the BMO CashBack® World Elite®* Mastercard®* is worth considering. You get 5% cash back on grocery purchases, 3% cash back on gas and electric vehicle charging, 2% cash back on recurring bill payments, and 1% cash back on all other purchases. The annual fee is $120, but the first year is usually waived.

Final thoughts

My Tangerine World Mastercard® review is positive. Although it has a higher minimum income requirement, it will appeal to people in the following situations:

• You want to pick your cash back – You get to choose up to three categories where you’ll earn 2% cash back.
• You want free mobile device insurance – This is one of the few cards with no annual fee and offers mobile device insurance.
• You don’t want to pay an annual fee – There’s no yearly fee to worry about with this card.

The card is nearly identical to the Tangerine Money-Back Credit Card, but it comes with more benefits that will appeal to many people. With no annual fee and the ability to choose your categories where you’ll earn more cash back, this card is a winner.

Scotiabank Gold American Express® Card

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• $120 annual fee
• 30,000 Scene+ points when you spend $2,000 in the first 3 months
• 20,000 Scene+ points when you spend $7,500 in the first year
• Earn 6 Scene+ points per $1 spent at Empire owned supermarkets
• Earn 5 Scene+ points per $1 spent on grocery, dining, and entertainment
• Earn 3 Scene+ points per $1 spent on gas, and daily transit purchases
• Earn 1 Scene+ point on all other purchases
• No foreign transaction fees

Welcome bonus and earn rate

Although the welcome bonus of the Scotiabank Gold American Express® Card often changes, it’s typically worth between 40,000 – 50,000 Scene+ points. The recent offers have had two parts. You’d get 20,000 – 25,000 Scene+ points after spending $1,000 in the first three months of cardmembership, and the rest after spending $7,500 in the first 12 months. The annual fee of $120 is sometimes waived for the first year as part of the welcome bonus.

As for the earning rate, you’ll get 6 Scene+ points per $1 spent at Empire owned grocery stores (Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op), 5 points on other grocery stores, dining, and entertainment purchases, 3 points on gas and daily transit, and 1 point on all other purchases. 

That’s some pretty generous multipliers, but they have an annual spending cap of $50,000. That means for every dollar you spend over $50,000 in the 5X or 3X categories, you’ll only earn 1 point per dollar spent.

Benefits and perks

It’s time to go over the benefits of this Scotiabank Gold American Express® Card review. Admittedly, you don’t get as many perks as other travel credit cards, but when you combine the high earning rate with the insurance provided, you’ll quickly see why many people favour this card.

No foreign transaction fees

This card has no foreign transaction fees, which saves you 2.5% whenever you make a purchase in a foreign currency. That may not sound like a lot, but it certainly adds up. For example, if you spent $4,000 on foreign transactions, you’d save $100 with this card.

Mobile device insurance

When you purchase a mobile device (cell phone or tablet) with your card, you’re covered for up to $1,000 in the case of loss, theft, or damage. This mobile insurance benefit is decent, but note that depreciation does apply when you make a claim. If you’re on a subsidized plan, you need to charge the entire amount of your monthly bill to your card for the insurance to apply.

Travel insurance

• Travel emergency medical – $1,000,000/25 days if 64 and under, 3 days for 65+
• Trip cancellation – $1,500 per insured person/$10,000 total
• Trip interruption – $1,500 per insured person/$10,000 total
• Flight delay – $500 per insured person, per trip/4 hours
• Delayed & lost luggage – Up to $1,000 per trip/4 hours
• Hotel/motel burglary – Up to $1,000 per occurrence
• Rental car collision loss/damage – $65,000/48 days
• Travel accident – $500,000

The Scotiabank Gold American Express travel insurance is not bad and pretty comparable to some of the best credit cards with travel insurance, but there are a few things I want to point out.

Like all travel medical insurance that comes with your credit card, you get that benefit no matter what. However, for your other travel insurance to be valid, you must charge at least 75% of your travel purchases to your card.

You’ll also want to take a close look at the days covered. If you’re 64 or under, you’re covered for 25 days, but if you’re 65+, you’re only covered for three days, which is pathetic. I understand that this is a common practice for most credit cards, but I still think it’s disappointing that’s all you get.

Purchase insurance

• Purchase security – 90 days
• Extended warranty – Up to one additional year

My Scotiabank Gold American Express review wouldn’t be complete without covering all the types of insurance included. Although purchase security is pretty standard, it’s a great type of insurance when needed. If one of your purchases gets lost, stolen, or damaged within the first 90 days of the purchase, you can get it fixed or replaced. As for the extended warranty, your manufacturer’s warranty is doubled up to one additional year.

American Express experiences

Anyone who holds an American Express credit card gets access to American Express experiences, which is a highly underrated perk. The things you can look forward to include:

• Offers – You’ll get cash back offers on dining, shopping, and more throughout the year.
• Front of the line – American Express has partnerships with many concerts, theatre products, restaurants, and live shows where cardholders get exclusive access to presale tickets.
• Invites – From advance movie screenings to live events, American Express Invites get you into exclusive experiences.

Concierge service

Cardholders get access to the American Express concierge. With this service, you can have someone help you make restaurant reservations or help you find tickets to special events. While this benefit may sound great, it’s not like they can make miracles happen. If the Taylor Swift concert is sold out, the concierge won’t be able to find tickets at retail cost.

How to redeem your points

The Scotiabank Gold American Express Card earns you Scene+ points, one of the best bank travel rewards programs. Not only can you use points on different types of travel, but you can also use your points on groceries, entertainment, restaurants, and more.

The base redemption rate is 1,000 points = $10 off travel booked through the Scotiabank travel portal, purchases made at Empire-owned grocery stores, Cineplex, and select restaurants.

Alternatively, one of the best benefits of the Scotiabank Gold Amex card, and one you don’t find on many cards, is the Apply Points to Travel option that lets you use your points to offset any travel purchase you booked on your own. This is valuable when you want to book directly with an airline or a hotel chain, as you will earn loyalty points, and your status benefits will apply.

The Apply Points to Travel option also adds flexibility as you can redeem your points for travel spending that you might not be able to book on a travel portal. Trailer parks, campgrounds, passenger railways or bus tickets are all eligible categories for which you can use the Apply Points to Travel option to offset costs. Note that there is a 5,000 points minimum redemption when using the Apply Points for Travel option.

Since you earn 5 points per dollar spent on gas, grocery, dining, and entertainment purchases, you get a 5% return for those categories.

Scotiabank Gold American Express eligibility

• Must be a Canadian citizen or are a permanent resident.
• Must be at least the age of majority in your province or territory.
• Must not have declared bankruptcy in the past seven years.
• Your home address matches your credit report home address

Since this is an American Express credit card, there’s no formal minimum income requirement. That said, American Express will examine your credit score as one factor to determine your approval. As a general rule, you’ll want your credit score to beat at least 700 since that would be a good standing.

How the Scotiabank Gold American Express compares

Scotiabank Gold American Express vs. American Express Cobalt Card

The American Express Cobalt Card is very similar to the Scotiabank Gold American Express Card. With the Cobalt Card, you earn 5 points per $ 1 spent on grocery and dining, 2 points on travel (gas, flights, hotels, etc.), and 1 point for everything else. Although the Scotiabank Gold American Express Card has a higher earning rate, American Express Membership Rewards points can be worth more since you can transfer them to Aeroplan and Marriott Bonvoy.

The Cobalt Card is likely the better choice if you want to maximize your points. That’s because American Express Membership Rewards points can be transferred to Aeroplan at a 1:1 ratio. Since one Aeroplan point can easily have a value of 2 cents, your earning rate is potentially higher with the Cobalt Card. That said, the Scotiabank Gold American Express has no foreign transaction fees and better travel insurance.

Scotiabank Gold American Express vs. Scotiabank Passport Visa Infinite Card

Another card worth comparing is the Scotiabank Passport Visa Infinite Card. The Scotiabank Passport Visa Infinite Card has a lower earning rate compared to the Scotiabank Gold American Express at 3 Scene+ points per $1 spent on Empire owned grocery stores and 2 Scene+ points on eligible grocery stores, dining, entertainment, and daily transit purchases. Both cards come with no foreign transaction fees.

You would pick the Scotiabank Passport Visa Infinite Card for the included airport lounge access. You get a Visa Airport Companion Program membership and six free annual passes per year. Those passes are worth $32 USD each. Although the Scotiabank Gold American Express advertises that you get airport lounge access, you only get a discount on a Priority Pass membership. Plus, you still need to pay for each individual visit.

Final thoughts

My Scotiabank Gold American Express review is positive. Although the card may not offer the most generous signup bonus, it’s a great choice for people in the following situations:

• You shop a lot at Empire-owned grocery stores – At 6 Scene+ points per $1 spent at Empire-owned grocery stores, no other card earns you as many points.
• You want a card with no FX fees – Since this card doesn’t charge foreign exchange fees, you’ll save 2.5% on all foreign transactions.
• You want flexible travel rewards – Scene+ allows you to use your points on travel booked through the Scene+ travel portal or on travel purchases charged directly to your card.
• You want good insurance – You get an excellent travel and mobile device insurance package.

The Scotiabank Gold American Express Card is one of the best travel credit cards in Canada. It offers solid travel insurance, one of the best earning rates, and you get access to American Express Experiences. With an annual fee of $120, this card is a winner.

Minimum application requirements:

• You’re a Canadian citizen or are a permanent resident
• You have a minimum annual personal gross income of $12,000
• You haven’t declared bankruptcy in the past 7 years
• You’re at least the age of majority in your province or territory
• Your home address matches your credit report home address

Welcome bonus and earn rate

The RBC Cash Back Preferred World Elite Mastercard typically has no welcome bonus. Considering the card comes with an annual fee of $99, you’d think there’d be some increased cash back offer when signing up. Even cash back credit cards with no annual fee usually have a small welcome bonus, so it’s disappointing that the RBC Cash Back Preferred World Elite Mastercard doesn’t come with one.

Despite the lack of a welcome bonus, the earning rate is respectable. You’ll earn a straight 1.5% return in cash back on all eligible purchases, but it’s capped at $25,000 in spending. Once you reach that limit, you’ll earn 1% cash back on all purchases. 

Some people prefer cards with bonus rewards on specific categories, such as gas and groceries, but this card gives you the same return on all purchases. This can benefit people who spend more on items that don’t fall under the base earn rate with other cards. For reference, most cash back cards only give you 1% cash back on all other purchases.

Benefits and perks

In another weird move, the RBC Cash Back Preferred World Elite Mastercard has no premium benefits. The perks you get are standard RBC ones and what’s available to all World Elite Mastercard holders.

Save at Petro-Canada

You can save 3¢ per litre on fuel and earn 20% more Petro points when using your linked RBC Cash Back Preferred World Elite Mastercard. While this may not seem like a big deal, you’re saving on gas, earning Petro points and cash back just by paying with your linked card. Sign in to RBC Online Banking to link your card and add your Petro-Points number.

Earn Be Well points at Rexall

When shopping at Rexall, you’ll earn 50 Be Well points for every dollar spent on eligible purchases. To get your bonus points, you need to scan your Be Well card and then pay with your RBC Cash Back Preferred World Elite Mastercard.

Save on delivery fees with DoorDash

As an RBC Cash Back Preferred World Elite Mastercard holder, you get a 6-month DashDash Pass subscription for free. This perk gives you unlimited free deliveries on orders of $15 or more with DoorDash. Your RBC Cash Back Preferred World Elite Mastercard must be set as the payment method for your $0 delivery fees to apply.

Purchase insurance

• Purchase security – Up to 90 days
• Extended warranty – Up to one additional year

With purchase security, any purchases that are fully paid with your RBC Cash Back Preferred World Elite Mastercard are protected from loss, theft, and damage for 90 days. The extended warranty doubles your manufacturer’s warranty, up to one additional year.

Free Boingo Wi-Fi

RBC Cash Back Preferred World Elite Mastercard holders get a free Boingo Wi-Fi account. This gives you access to more than 1 million Wi-Fi hotspots worldwide, including on planes. All you need to do is register your card at mastercard.boingo.com.

Auto Rental Collision/Loss Damage Waiver Insurance

When you rent a car and pay for it in full with your RBC Cash Back Preferred World Elite Mastercard, you get rental collision/loss damage waiver insurance for up to 48 days. Only vehicles with an MSRP of no more than $65,000 qualify, and you must decline the car rental agency’s insurance. Note that liability insurance is not included.

Airport lounge access

Another card benefit is free access to the Mastercard Travel Pass Program provided by DragonPass. This gives you access to 1,400+ airport lounges worldwide. Note that you still need to pay for each entry (normally $32U.S.), but you can’t get in at all without a membership.

When your RBC cash back is paid out

Cash back earned with RBC is automatically paid out in January. However, you can call customer service (1-800-769-2512) to get your cash back earlier as long as you’ve earned at least $25 in cash back. Some people will find this annoying as other cards allow you to redeem your cash back monthly.

RBC Cash Back Preferred World Elite Mastercard eligibility

• You’re a Canadian citizen or permanent resident
• You’re at least the age of majority in your province or territory
• You have a minimum personal income of $80,000 or a household income of $150,000

Although no formal credit score is listed under the requirements, having a credit score of at least 700 is what I recommend before applying. This puts you in a better position to be approved for this premium credit card.

How the RBC Cash Back Preferred World Elite Mastercard compares

It’s time to go over comparables in this RBC Cash Back Preferred World Elite Mastercard review. There are a lot of cash back cards out there, but the following are other cards I recommend you look at.

RBC Cash Back Preferred World Elite Mastercard vs. Scotiabank Momentum Visa Infinite Card

The Scotiabank Momentum Visa Infinite Card is incredibly popular since you’ll earn 4% cash back on groceries, recurring bills, and subscription purchases, 2% on gas and daily transit purchases, and 1% on all other purchases. While the base earn rate is lower than the RBC card, the Scotiabank card has many generous bonus categories. In addition, the Scotiabank card comes with some great additional benefits, such as comprehensive travel and mobile device insurance. The annual fee for the Scotiabank card is a bit higher at $120, but there’s typically a welcome bonus of 10% cash back up to $2,000 in purchases.

RBC Cash Back Preferred World Elite Mastercard vs. American Express Cobalt Card

The American Express Cobalt Card is another card that has a very high earning rate. You’ll earn 5 American Express Membership Rewards points per $1 spent on eats and drinks, 3 points on streaming services, 2 points on travel, and 1 point on all other purchases. Although you earn points instead of cash, you can redeem 1,000 points for a $10 statement credit, so you treat it like a cash back card if you so desire. The annual fee for the Cobalt card is a bit high at $12.99 a month, but it has one of the highest earning rates in Canada.

RBC Cash Back Preferred World Elite Mastercard vs. SimplyCash Preferred Card from American Express

For those more focused on a solid base earning rate, the SimplyCash Preferred Card from American Express is worth a look. The earning rate is 4% cash back on groceries and gas purchases, and 2% cash back on all other purchases. You will pay a slightly higher annual fee of $9.99 monthly, and not all merchants accept American Express. That said, the earning rate is higher, and you get mobile device insurance.

Final thoughts

The RBC Cash Back Preferred World Elite Mastercard is RBC’s top cash back credit card and is ideal for people in the following situations:

• You want a cash back card – With cash back, you don’t need to worry about rewards charts or blackout dates like some travel rewards programs.
• You want a good flat rate return – The 1.5% cash back on all purchases is decent.
• You bank with RBC – Some people prefer to use credit cards from their financial institution.

While there are some benefits to the RBC Cash Back Preferred World Elite Mastercard, the earning rate is low compared to some of the best cash back credit cards in Canada. In addition, the lack of benefits is disappointing. If you bank with RBC and want to stick with them, this card is perfectly acceptable, but better options are available elsewhere.

When you look at everything included, the American Express Platinum card is one of Canada’s best travel credit cards. Frequent travellers will love how you get unlimited lounge access, hotel status, and great travel insurance. Read my American Express Platinum Canada review now and find out what you get with the card and how to maximize your benefits.

American Express Platinum Card

• $799 annual fee
• Earn 90,000 Membership Rewards points when using a referral link and spending $10,000 in the first 3 months
• 50,000 additional points when making any purchase in months 15 – 17
• Earn 2 points per $1 spent on dining and travel, and 1 point on all other purchases
• $200 annual travel credit
• $200 annual dining credit (per calendar year)
• Unlimited airport lounge access
• MESSAGE ME FOR A REFERRAL LINK

Welcome bonus and earn rate

Let’s be real for a second. Many people sign up for this card because it typically has a very generous welcome bonus. The offers have been between 85,000 and 115,000 welcome bonus points when using a referral link. That said, to get the bonus, you need to spend $10,000 within the first three months of card membership.

Since 1,000 points = $10 in travel, your welcome bonus is worth at least $850 when booking through the American Express travel portal. However, if you convert your points to Aeroplan, the bonus can easily be worth double that, so $1,700. That’s much higher than the annual fee.

The earning rate is decent. You’ll earn 2 points per $1 spent on dining (not grocery stores) and travel. All other purchases earn you 1 point per dollar spent. Admittedly, there are cards with a higher earn rate, but this is not bad when factoring in all the additional perks.

Benefits and perks

With an annual fee of $799, you should rightfully expect a lot of benefits from this metal credit card. Fortunately, the American Express Platinum benefits are easily the best of any travel credit card in Canada. It’s no surprise that it’s one of the best credit cards in Canada.

$200 annual travel credit

My American Express Platinum Canada review is positive because you get an annual travel credit of $200 on your card anniversary (not every calendar year). You also get that travel credit immediately when you sign up.

Let’s be realistic. If you’re applying for this card, you’re likely a frequent traveller, so you’ll want sweet travel perks. The annual credit will be incredibly useful since it can be applied at the time of booking when you’re making a reservation online via the American Express travel portal, or you can call in later to claim your statement credit. Alternatively, some people have been able to convert that amount into “cash” by booking a fully refundable hotel.

$200 annual dining credit

A dining credit of $200 is now available. This credit applies every calendar year, so technically speaking, you get it twice the first year you sign up. While this credit is great, there are a few quirks. It only applies to a single transaction at one of the American Express dining partners. These restaurants are typically expensive, so burning your $200 credit in a single transaction won’t be difficult. The list of participating restaurants can be found here.

Since you can get the $200 dining credit twice and the travel credit once in the first year, that’s $600 in credits. That means if you use all of your credits, the annual fee for the first year will be just $199 for the first year.

Unlimited lounge access

Having lounge access is a great way to start your travels. With the Platinum card, you get a Priority Pass membership with unlimited free entries – a value of US $429 (CAD $589). Plus, you can bring a guest during every visit at no extra cost.

The American Express Global Lounge Collection that comes with your card is incredibly valuable since Amex has multiple partnerships in place. This includes American Express Centurion lounges, Plaza Premium airport lounges, Delta Sky Club, and more. Basically, you’ll have lounge access at almost every airport in the world as long as you have the Amex Platinum Card.

What makes the American Express Platinum card one of the best credit cards with airport lounge access is that it also gets you into premium lounges such as Centurion by American Express, Air France / Skyteam, and Delta lounges when you fly on Delta.

Some people think lounges aren’t worth it, or if they’ve never experienced them before, they’re not missing out on anything. I disagree as the travel experience starts at the airport. Lounge access makes things much more comfortable and perfect if you have a long layover. Lounges have also made long delays much more reasonable.

Hotel status upgrades

Another major American Express Platinum credit perk is the instant hotel status upgrade at many major chains. The value of the status is subjective, but generally speaking, you would need to stay 25 nights at each chain every year before you qualify. Here’s what you get right at each brand

• Hilton Honors Gold status
• Marriott Bonvoy Gold elite status
• Radisson Rewards Americas Gold Status

Most of these programs offer free Wi-Fi, room upgrades, bonus points, and early check-in and late check-out. This may not seem like a big deal,l but you need to read the details of each hotel loyalty program to see what you’re entitled to.

With Marriot Bonvoy Gold, you get 25% more points on eligible spending, a welcome gift or points, and a dedicated reservation line. This status stacks with the Marriott Bonvoy Amex Card, so you can earn points quickly if you’re a frequent guest at Marriott hotels. Marriott International has over 7,000 properties in 130+ countries, so you’ll have no problem finding a hotel.

NEXUS rebate

When you charge your NEXUS application or renewal to your American Express Platinum Card, you’ll get a statement credit of up to $100 every four years. Since NEXUS is good for five years, you’ll never need to pay any fees again. Nexus is great for those who travel frequently to the U.S. since it allows you to skip the security and customs lines in both Canada and the United States.

Benefits at Toronto Pearson International Airport

If you happen to fly out of Toronto’s Pearson International Airport, you get the following VIP perks:

• Priority security lane
• Complimentary valet service at the Express Park and Daily Park
• 15% discount on parking rates at the Express Park and Daily Park

In my experience, the priority security line is usually faster than the Nexus line. That may seem weird to many NEXUS cardholders, but it’s true. That said, you don’t need to take off your shoes or go through an X-ray at the NEXUS line. Always use the priority line to clear security, but use the Nexus line to go through customs.

Toronto Pearson airport parking is always expensive, so getting 15% off when paying with your American Express Platinum Card is nice. Keep in mind the discount shows up as a statement credit.

The complimentary valet service only saves you on the one-time fee. You still need to pay the daily rate for parking, which is more expensive than using regular or long-term lots.

Travel insurance

That’s a lot of insurance you get with the American Express Platinum credit card. Some people would argue that there are better credit cards with travel insurance in Canada, but that depends on your viewpoint. There’s no denying that the 15 days of insurance coverage with the American Express Platinum Canada Card is a bit disappointing, but you need to look at the entire suite of insurance that’s included.

At $2,500 a person or $5,000 total for trip cancellation and $2,500 a person or $6,000 total for trip interruption, you’re covered for quite a bit if you need to cancel or cut your trip plans.

Your flight delay insurance kicks at 4 hours which is nice since some policies require you to wait 6 hours. I prefer having this four-hour window as I can make a claim sooner. Flight delays can be brutal, and knowing I’m covered for hotels, meals, and minor expenses can make a huge difference. That said, your baggage insurance requires a six-hour delay before making any claims, which is annoying when other policies only have a four-hour requirement.

Purchase insurance

• Purchase protection
• Buyer’s assurance

The included purchase insurance is pretty standard. You get purchase protection which covers your purchases for 90 days from theft, loss, and damage. With the buyer’s assurance, your manufacturer’s warranty is doubled up to one additional year. In both cases, you must charge the total purchase amount to your American Express Platinum Canada Card for the insurance to apply.

American Express International Airline Program

The American Express Platinum Card gives you access to the International Airline Program, a little-known benefit. This feature gives you discounts when you book premium economy, business and first-class tickets on international flights with select airlines. For reference, the only Canadian airline participating in the American Express International Airline Program is WestJet.

In addition, the International Airline Program gives you discounted companion tickets with select airlines when booking business or first-class seats. I don’t think you should expect to save hundreds of dollars with this discount, but it’s worth calling the Platinum Card Travel Service at 1.800.263.1616 if you plan on booking any seats in premium economy, business or first class to see any deals.

American Express Fine Hotels & Resorts

The American Express card gives you access to the American Express Fine Hotels & Resorts collection, a highly underrated benefit. When booking a hotel that falls into the Fine Hotels & Resorts collection, you’re entitled to the following benefits:

• Free room upgrade
• Free daily breakfast for two
• $100 hotel credit for food and drinks per stay (may vary per hotel)
• Noon check-in
• 4 PM check-out
• Complimentary WiFi

The website lists that the average value of this benefit is US$550, but I prefer to value this benefit at $150 since the room upgrade is not guaranteed.

Whenever you book a hotel, it’s worth checking to see if a hotel you’re interested in is part of the Fine Hotels & Resorts collection. Sometimes, booking through this benefit will cost me only $20 more, but I get all the extra perks that have made it worthwhile.

American Express Experiences

American Express Experiences are exclusive to American Express cardholders. Not every offer will be of interest, but occasionally, you’ll get one or two that will excite you.

• Front of the line presales – Get access to tickets to concerts, theatre productions, restaurants and more before the general public.
• Front of the line reserved tickets – At select venues, American Express, has agreements where cardholders can purchase reserved tickets and seats.
• Entertainment experiences – Purchase special entertainment experiences such as screenings of movies, theatre packages and more.
• Dining experiences – From tasting menus to food festivals, cardholders can get access to some of the most sought-after culinary events.
• Offers – Throughout the year, you’ll get special shopping offers. These offers can be incredibly valuable since you’ll get a certain amount back as a statement credit. For example, spend $400, and get $100 back.

How to redeem your points

In this American Express Platinum Canada review, I need to go over how American Express Membership Rewards (MR) work since those are the points you’ll earn.

You can redeem 1,000 MR points for $10 for a statement credit. This applies to ALL purchases. American Express Membership Rewards is the only bank travel rewards program that allows you to redeem your points for a statement credit at the same value as travel redemptions.

Booking on your own and then redeeming your points is incredibly valuable since you can find the lowest prices or book directly with brands to take advantage of your loyalty stays. You must Book through the American Express travel portal to use your annual travel credit.

Another interesting thing about Membership Rewards is that you can double the value of your points. Take a look at the chart below. A short-haul flight between Canada and the U.S. requires 15,000 points but has and has a maximum base ticket price of $300. That means your points can have a value of 2 cents each.

American Express Platinum Canada transfer partners

What makes Membership Rewards points valuable is that you can transfer your points to various partners, which include airlines and hotels. This gives your points a lot of value since they’re flexible. Basically, you can look at all the different options available to you and then redeem your points for maximum value.

The transfer ratio for American Express Membership Rewards points is as follows:

Understanding your transfer partners and the American Express/Fixed Points Travel Program is essential to getting maximum value.

For example, 60,000 Membership Rewards points are worth $600 if you use them on travel purchases. However, they’re worth up to $900 if you use the Fixed Points Travel Program.

Transferring the same number of points to Aeroplan would give you 60,000 Aeroplan points, which can go quite a long way, depending on how you use them. I personally don’t have much issue getting a value of 2 cents per Aeroplan point. That means 60,000 Aeroplan points are worth $1,200.

If you’re an American Express Platinum cardholder and plan to book a flight, always compare the Amex travel portal, the fixed points travel program and Aeroplan to see what gives you the best value.

Regarding hotels, transferring your points to Marriott Bonvoy could save you some money. Generally, you should value your Marriott Bonvoy points at 0.9 cents each. If a hotel costs you 25,000 points, but the nightly rate is $300, that’s a good value. However, if the nightly rate is $150, paying cash or redeeming your American Express Membership Rewards points towards the travel purchase would be better.

American Express Platinum Card eligibility

• You’re a Canadian citizen, or you’re a permanent resident
• You’re at least the age of majority in your province or territory

You’ll quickly notice that American Express doesn’t have a formal personal or household income requirement. In addition, there’s no minimum credit score listed. That said, since this is a premium travel credit card, having a credit score of 700+ will likely improve the odds of you being approved.

How the American Express Platinum Card compares

You can compare the American Express Platinum Canada to a surprising number of premium travel credit cards. Not only should you look at general travel rewards cards, but you should also consider co-branded credit cards.

American Express Platinum Card vs. American Express Aeroplan Reserve Card

With the Platinum Card, you get unlimited access to the American Express Global Lounge Collection, whereas the Reserve Card gives you unlimited access to Maple Leaf Lounges in North America. I personally think Maple Leaf Lounges are better, but that only applies to North American airports that have them. If you fly a lot internationally or to airports without Maple Leaf Lounges, you’d be better off with the Platinum Card.

The secondary benefits are also worth considering. With the Reserve Card, your first checked bag free when flying Air Canada, priority airport check-in, boarding, and baggage handling. These benefits alone could be worth it for travellers who frequently fly Air Canada.

It’s also worth looking at the points. With the Platinum Card, you have flexibility with your points since you have a few transfer partners. With the Aeroplan Card, you’re restricted to using your points on Aeroplan rewards.

American Express Platinum Card vs. TD Aeroplan Visa Infinite Privilege Card

Another premium Aeroplan credit card worth considering is the TD Aeroplan Visa Infinite Privilege Card. It’s very similar to the American Express Aeroplan Reserve Card, with the main difference being that the TD card also gives you DragonPass airport lounge access + 6 free annual passes.

While the annual fee of $599 is lower than the Platinum card, most of the benefits of the TD card are related to Air Canada, whereas the Platinum card gives you better general travel perks.

American Express Platinum Card vs. American Express Business Gold Rewards Card

If your goal is to earn a lot of points fast, then you may want to look at the American Express Business Gold Rewards Card. The welcome bonus is typically 75,000 American Express Membership Rewards points after spending $5,000 in the first three months. While the bonus isn’t as generous as the Platinum card, the minimum spend requirement is much lower. In case you’re wondering, you don’t need a business to get a business credit card.

Final thoughts

My American Express Platinum Canada review is positive. This card is ideal for people in the following situations:

• You want a huge welcome bonus – The signup offer is typically worth around 100,000 points. That’s usually one of the most generous offers on the market.
• You frequently travel – This card gives you unlimited airport lounge access, a yearly travel credit, and hotel status.
• You want flexible rewards – American Express Membership Rewards can be transferred to Aeroplan and Marriott Bonvoy.

If you’re a frequent traveller, want to travel like a VIP, or are trying to earn many points fast, this card is for you. You can easily get more than $2,000 in value in the first year, so the annual fee of $799 shouldn’t be a huge concern. Friends, family, and readers of my blog can use my referral link below to earn some extra points.

American Express Platinum Card

Welcome bonus: Up to 100,000 American Express Membership Rewards points

Annual fee: $799

MESSAGE ME FOR A REFERRAL LINK

FAQ

Is the American Express Platinum annual fee worth it?

If I haven’t convinced you about the value of the American Express Platinum Card yet, let me break down the real value of the benefits for you.

• Travel credit – $200
• Dining credit – $200 per calendar year
• Welcome bonus – $1,000+
• Lounge access – $520
• Travel insurance – $300

That equals at least $2,420 in value in the first year. Yes, the fee is $799, but you still come out ahead by more than $1,300.

Let me break down the value for you.

The annual travel credit is $200. Assuming the welcome bonus is worth at least 100,000 points, that’s a minimum value of $1,000. However, if you transferred your points to Aeroplan, it wouldn’t be hard to get a value of at least $2,000. In addition, the $200 dining credit is per calendar year, so you could use it twice in your first year of cardmembership.

With lounge access, a prestige Priority Pass membership is US $429 (CAD $580), and it gives you and a guest unlimited free visits. Finally, the travel insurance is worth roughly $300 per person. As you can see, there’s an insane amount of value with this card. Even after the first year, the benefits you get are still easily worth more than the annual fee, so consider keeping this card if you travel regularly.

Since this is a low interest credit card, you won’t get many additional perks, but that may not matter as your primary goal may be to reduce your debt. Read my Scotiabank Value Visa review now and find out why it’s one of the best balance transfer credit cards in Canada.

Scotiabank Value Visa Card

Apply Now

• $29 annual fee – First year free
• 0.99% interest rate on balance transfers for the first 9 months – 2% balance transfer fee applies
• 13.99% interest rate after the promotional period ends
• Up to 25% off at participating Avis and Budget car rental locations

Welcome bonus and earn rate

There’s no traditional welcome bonus with this card. Instead, you get the option to balance transfer with a promotional interest rate of 0.99% interest for the first 9 months. Once that promotional period ends, your standard interest rate increases to 13.99%. Note that a 2% balance transfer applies with a $5 minimum. So, if you want to balance transfer $2,000, the fee would be $40. There’s also an annual fee of $29, but it’s often waived for the first year.

As for the earn rate, there is none. You don’t earn travel rewards, or cash back with this card. In other words, this card should only be used if you’re looking to pay down debt ASAP. Once you’ve paid off your debt, you’re better off switching to a card that earns you rewards.

Benefits and perks

Since this is a low interest credit card, your benefits are quite limited. The only perks you get are as follows:

Save money on interest

To be clear, the balance transfer option is a fantastic benefit. Most credit cards have an interest rate of 20%+. However, if you perform a balance transfer, you’ll pay 0% interest for 10 months. If you focused on debt repayment during this time, you could easily save hundreds of dollars. Alternatively, if you typically carry a balance, the standard interest rate of 12.99% is still reasonable.

Save on car rentals

When you rent a car at participating AVIS and Budget locations in Canada and the U.S., you’ll get up to 25% off the base rate. You must charge the full cost of the car rental to your Scotiabank Value Visa to get the discount.

Scotia Momentum VISA Infinite eligibility

• You’re a Canadian citizen or permanent resident
• You’re at least the age of majority in the province or territory where you live
• You haven’t declared bankruptcy in the past 7 years
• Your home address matches your credit report home address

You’ll notice that there’s no formal minimum income requirement to be considered for this card. In addition, no minimum credit score is listed, but I recommend having a credit score of at least 660 before applying.

How the Scotiabank Value Visa Card compares

The Scotiabank Value Visa has some tight competition with a few others card offering balance transfers or low interest.

Scotiabank Value Visa Card vs. MBNA True Line Mastercard

The MBNA True Line Mastercard offers a balance transfer of 0% interest for 12 months. Once your promotional period ends, the interest rate goes up to 12.99%. This is two months longer than what the Scotiabank card offers, but the balance transfer fee is 3% ($7.50 minimum). That said, the MBNA card has no annual fee. These cards are very similar, but if you think it’ll take longer to pay off your balance, having those two extra months with 0% interest could help a lot.

Scotiabank Value Visa Card vs. MBNA True Line Gold Mastercard

The MBNA True Line Gold Mastercard is supposed to be a better version of the MBNA True Line Mastercard, but that’s debatable. The card has an annual fee of $39, and the balance transfer interest rate is 8.99% (1% fee, $7.50 minimum applies). Although there’s no promotional interest rate, the 8.99% rate applies to all purchases and balance transfers, which is one of the lowest interest rates available.

Scotiabank Value Visa Card vs. Tangerine Money-Back Card

One other card with comparing is the Tangerine Money-Back Card. When performing a balance transfer, you get a promotional interest rate of 1.95% for six months. There’s no balance transfer fee, but your interest rate goes up to 19.95% once the promotional period ends. What makes this card good is that you can earn up to 2% in cash back on purchases made.

Final thoughts

My Scotiabank Value Visa Card review is positive. This card is ideal for people in the following situations:

• You want to save money – The 0% interest balance transfer option is one of the best ways to reduce your debt. Not even your bank will offer you a rate that low.
• You typically carry a balance – The regular interest rate of 12.99% is still lower than most credit cards in Canada.
• You want to pay a low/no annual fee – The yearly fee for this card is just $29, and it’s usually waived for the first year.

It may not have the lowest rates compared to other low interest, balance transfer credit cards, but it’s pretty close. If you’re looking to reduce your debt, then this card will help you.