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Mouseketeer
- Joined
- Aug 9, 2007
So, I did an analysis of my previous year's spend and compared the ScotiaBank Infinite Visa and the Rogers World Elite Mastercard. A few caveats:
A (negative) number above represents a higher net cost for the ScotiaBank Infinite Visa.
In terms of features, the insurance benefits are comparable as far as I can tell.
For the lounge pass, they are valued at $27.00 per pass (this is the price you would pay for a new pass if you run out). Therefore, 6 passes would be valued at $162.00.
If I include the lounge passes, I would come out ahead on the ScotiaBank Infinite Visa in Year 1. Year 2, I would still be substantially behind. I don't value the lounge passes and choose not to include those in my decision as to which card to get.
Anyway, interesting for my spending habits. As much as I dislike Rogers, they keep coming out ahead for me, not matter how much I don't want them to!
As usual, please let me know if you see any errors and I will correct accordingly. I'm interested in getting this as accurate as possible.
- This analysis is for me and is based on my spending habits and how I use the card. I use the Rogers MasterCard for all of my US $ purchases and the occasional Canadian $ purchase. For the previous year, I did have some Canadian purchases on it, but I usually use my MBNA Mastercard for Canadian purchases to get the full 2% back on everything.
- I am only posting this here for interest sake and not to say that someone made a wrong decision for themselves in going with another product. Again, this is what works for me and gives me the best return based on my spending habits and the features I value.
- I am assuming that Scotia Rewards are earned on the converted US $ amount and not on the base US $ charge.
- I put all of my charges for the last year in a spreadsheet and assigned categories to them to ensure that I "earned" the right amount of Scotia Rewards for each purchase.
- Year 1 includes the 25,000 point sign up bonus and the $50 rebate from GCR, as well as the annual fee
- Year 2 is the same as Year 1, except it assumes no sign up bonus and no $50 rebate from GCR
A (negative) number above represents a higher net cost for the ScotiaBank Infinite Visa.
In terms of features, the insurance benefits are comparable as far as I can tell.
For the lounge pass, they are valued at $27.00 per pass (this is the price you would pay for a new pass if you run out). Therefore, 6 passes would be valued at $162.00.
If I include the lounge passes, I would come out ahead on the ScotiaBank Infinite Visa in Year 1. Year 2, I would still be substantially behind. I don't value the lounge passes and choose not to include those in my decision as to which card to get.
Anyway, interesting for my spending habits. As much as I dislike Rogers, they keep coming out ahead for me, not matter how much I don't want them to!
As usual, please let me know if you see any errors and I will correct accordingly. I'm interested in getting this as accurate as possible.