Head-to-Head: Neo World Elite® Mastercard vs. Scotia Momentum® Visa Infinite* Card

In this edition of Head-to-Head, we’re comparing two Canadian credit cards catering to different types of spenders: the Neo World Elite^® Mastercard and the Scotia Momentum^® Visa Infinite* Card.

While both offer impressive cash back earnings, they cater to different types of spenders.

Let’s break down which one gives you the best overall value.

Card Basics

When looking at different credit cards, you’ll want to first focus on the basics. Take a look at what sign-up offers they have, how much they cost each year, and what rewards you can earn on purchases. This will help you figure out which card gives you the best overall value.

1. Welcome Bonuses

The Scotia Momentum^® Visa Infinite* gives new cardholders 10% cash back on the first $2,000 in purchases within three months, a solid incentive to start earning right away.

Meanwhile, the Neo World Elite^® Mastercard doesn’t offer a traditional welcome bonus but provides a slightly higher default cash back in grocery purchases and the ability to earn boosted cash back (which we will talk about later in detail).

Verdict: While Neo’s system can be lucrative, the lack of an upfront bonus is a drawback. The guaranteed 10% cash back offered by Scotia Momentum^® Visa Infinite* card is tough to beat.

2. Annual Fees

The Neo World Elite^® Mastercard charges $125 per year, while the Scotia Momentum^® Visa Infinite* comes in slightly lower at $120 per year, often with a first-year fee waiver. If you’re looking for a lower upfront cost, the first-year free offer makes a viable difference.

However, Neo’s cash back structure may allow cardholders to offset the annual fee more quickly compared to Scotia Momentum^® Visa Infinite* card’s fixed cash back model. Frequent grocery and gas shoppers who maximize Neo’s earning potential may find the $125 fee justified.

Verdict: Scotia Momentum^® Visa Infinite* Card wins this category with a slightly lower fee and frequent first-year annual fee waiver offers.

3. Earning Rates

The Neo World Elite^® Mastercard offers a highly competitive cash back structure, starting at 5% on groceries, 4% on recurring bills, and 3% on gas. These base rates already match or outperform those of the Scotia Momentum^® Visa…