Personal Finance

TD Travel First Class Visa vs. Scotia Gold AMEX

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  • Sep 19th, 2014 7:59 pm
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Newbie
Nov 3, 2013
57 posts
10 upvotes
Kitchener, ON

TD Travel First Class Visa vs. Scotia Gold AMEX

Hi Everyone,

I am a user of the TD Travel First Class Visa (not the Aeroplan one) and I was recently "pre-approved" for Scotia's Gold Amex card. I've been reading this forum about others who have received the offer as well and I ended up taking the Amex because of the sign-up bonuses. However, I'm thinking whether or not I should keep the card in the future because I cannot get the fees waived. Gas and groceries at 4% can easily match the $99 annual fee, but given that TD's fee can be waived, I'm having a hard time determining if it's worthwhile to keep both cards since I'm only a recent graduate from University.

I looked into the cards but I wanted some more opinions from others. Here is the summary of my findings so far:

Rewards
TD Visa Infinite:
- Normal Purchases - 3 TD points/$1 (1.5% return)
- TD Expedia - 9 TD points/$1 (4.5% return)

Scotia Gold Amex:
- 4 points/$1 at eligible gas stations, grocery stores, and dining/entertainment (4% return)
- 1 point/$1 elsewhere (1% return)
Option to transfer points to Avios or Aeroplan
I read that converting is the optimal way to get returns on your points, but I'm not too familiar with this loyalty programs to understand how this enhances the points.

Insurance
TD Visa Infinite:
- 15 days travel & medical
- Trip cancellation & trip interruption
- Common carrier travel accident insurance
- Delayed & lost baggage
- Auto rental collision/loss damage

Scotia Gold Amex:
- 25 days travel & medical over 15 days
- Otherwise, similar coverage unless I missed another major difference

Fees
TD Visa Infinite: $120 - waived with Select Services
Scotia Gold Amex: $99 - cannot waive fees

In summary, I do see the benefits of the Amex but I'm trying to balance whether or not a fee-card is justified as I could opt for the MBNA SmartCash with 2% cash back on gas/groceries (but that's only marginally better than TD's 1.5%). Furthermore, Capital One's Aspire card is comparable with the Gold Amex and the fees are effectively reduced to $20/year. I've read some people have all 3 cards but I want to hold off on having too many cards since I am still keeping my first credit card (I was advised to do so for credit history purposes as I have not obtained a mortgage or huge credit yet) and have a Scotia Scene card as well.

Note: I do not plan on churning cards (i.e. not going to be applying for more cards) as this isn't a good practice for me since I haven't obtained a mortgage yet so I will be needing a large loan in the future.

Thanks,
Prevalent
5 replies
Deal Expert
User avatar
Sep 19, 2004
26763 posts
9332 upvotes
where I belong
Get them both?

Scotia Gold AMEX is FYF, with $150 welcome bonus until June I believe, there's another RFD Thread

Get the TD Aeroplan Travel Infinite also, 15K Aeroplan, FYF (call in or branch), another RFD thread also

Yes, you can also get TD Travel First Class free with All-inclusive account too


Good luck, I have all above except Scotia, as I'm hoping to receive a pre-approved $300 offer + $150 welcome bonus
Which Credit Cards to sign up? >> Jerry's Mega Thread of Credit Cards Q&A
Deal Addict
Jan 28, 2014
3926 posts
1039 upvotes
Toronto
OP - I think you are confusing the TD First Class Travel Award card with the TD AEROPLAN Infinite card. If you read what you have typed under the Rewards - you will see what I mean - note the 3 TD points per $1 OR the 9 points if you book Expedia online. We have this card due to the All Inclusive Account we have had for many years - and we hardly use it because we do not book Expedia - ever. And of course since our CIBC Aerogold card has been sold to TD we do not qualify for any of the freebees they are handing out to new - and most likely - short term clients. We do not churn credit cards.

And if you have received an application form from Scotia Amex indicating you are pre-approved - fill out the application form and see what happens. "Pre-approved" is a very loosely used word.
Deal Expert
User avatar
Feb 11, 2009
20055 posts
9836 upvotes
Toronto
I have the first class simply due to fee being waived. Have the scotia amex but will cancel after my free year
Realtor (Investment Properties) - CPA, CA
Newbie
Nov 3, 2013
57 posts
10 upvotes
Kitchener, ON
Blanche123 wrote: OP - I think you are confusing the TD First Class Travel Award card with the TD AEROPLAN Infinite card. If you read what you have typed under the Rewards - you will see what I mean - note the 3 TD points per $1 OR the 9 points if you book Expedia online. We have this card due to the All Inclusive Account we have had for many years - and we hardly use it because we do not book Expedia - ever. And of course since our CIBC Aerogold card has been sold to TD we do not qualify for any of the freebees they are handing out to new - and most likely - short term clients. We do not churn credit cards.

And if you have received an application form from Scotia Amex indicating you are pre-approved - fill out the application form and see what happens. "Pre-approved" is a very loosely used word.
Yes - this is the card I am referring to. I cleared up the title so it's not confused with the Aeroplan card. I wrote the title based on what the card said in hand, but I didn't realize TD had other "Infinite" travel cards (oops).

I dealt with it in the branch and had all the credit agreements filled. I don't plan on churning cards either, which is why I haven't applied for other cards that I expect I will be cancelling (e.g. CapOne, TD Aeroplan). I was just wondering if a light expense profile would justify the card's fee. However, there is potential to travel a lot for work and gas for one of my friends who worked for an 8 month term at 50km/day already amounts to $1900+ and sometimes I work on engagements that require 75-100km/day.
Jr. Member
Jul 4, 2009
187 posts
53 upvotes
Regarding the annual Amex fee, haven't tried this myself, but colleague swears by the loyalty and retention approach when renewal/fee time comes up. Threaten to leave because you can just switch to a no-fee card. See if they'll offer to waive it to keep you. Not a bad idea.

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