"Is CIBC Dividend or Scotiabank Momentum Visa Infinite better?"

"Both the CIBC Dividend Visa Infinite and Scotiabank Momentum Visa Infinite charge $120/year and earn 4% cash back on groceries and gas. The key difference: Scotiabank Momentum earns 4% on recurring bills (phone, streaming, utilities, insurance) — a category where CIBC Dividend earns only 2%. If you have $300–$500/month in recurring automatic payments, the Momentum is significantly more valuable. The CIBC Dividend may be preferred by CIBC banking clients for seamless bill payment and the annual fee waiver offer sometimes available with CIBC banking accounts."

"What is the recurring bill category on the Scotiabank Momentum Visa Infinite?"

"The Scotiabank Momentum Visa Infinite earns 4% cash back on \"recurring bill payments\" — charges that are automatically billed to your card on a set schedule. This includes: cell phone/mobile plan, internet service, streaming subscriptions (Netflix, Disney+, Spotify, etc.), insurance premiums (home, auto, life), gym memberships, and other pre-authorized payments. The key requirement is that the merchant bills the card automatically (not manually entered each month). This category is worth significant value for households with $200–$500+/month in pre-authorized bills."

"How is cash back redeemed on CIBC Dividend and Scotiabank Momentum?"

"CIBC Dividend Visa Infinite cash back is paid out as an annual statement credit once per year (typically in January, covering the previous year). You cannot redeem mid-year — cash back accumulates for 12 months before being credited. Scotiabank Momentum Visa Infinite cash back is also paid annually, as a statement credit once per year. Both cards do not offer monthly or on-demand cash back redemption, which is a limitation compared to some other cash back cards. Keep this in mind if you want more control over redemption timing."

"Do CIBC Dividend and Scotiabank Momentum have travel insurance?"

"Both cards include travel insurance. The Scotiabank Momentum Visa Infinite includes emergency medical, trip cancellation, trip interruption, and flight delay insurance. The CIBC Dividend Visa Infinite includes similar coverage — both are mid-tier Visa Infinite cards with comparable travel insurance packages. Check the current insurance certificate for each card for exact limits and exclusions, as these details change and may differ between TD and CIBC underwriters."

"What is the income requirement for CIBC Dividend and Scotiabank Momentum?"

"Both the CIBC Dividend Visa Infinite and Scotiabank Momentum Visa Infinite require a minimum income of $60,000 personal or $100,000 household — standard for Visa Infinite cards in Canada. If you do not meet this threshold, both banks offer lower-tier versions: CIBC Dividend Visa (no income requirement, lower earn rates) and Scotiabank Momentum Visa (no income requirement, lower rates). These lower-tier versions have lower annual fees but also lower earn rates on the bonus categories."

CIBC Dividend vs Scotiabank Momentum Visa Infinite (2026)

Two of the most popular cash back credit cards in Canada go head-to-head: both charge $120/year, both earn 4% at groceries and gas — but one has a major advantage for households with subscription bills.

Quick verdict: The Scotiabank Momentum Visa Infinite wins for most Canadians with automatic recurring bills — 4% on subscriptions, phone, internet, and insurance is a powerful differentiator. Choose CIBC Dividend if you’re a CIBC banking client or the recurring bills category is less relevant to your spending.

Side-by-Side Comparison

Feature	CIBC Dividend Visa Infinite	Scotiabank Momentum Visa Infinite
Annual fee	$120	$120
Network	Visa Infinite	Visa Infinite
Income required	$60K personal / $100K household	$60K personal / $100K household
Earn — Grocery	4% cash back	4% cash back
Earn — Gas	4% cash back	4% cash back
Earn — Recurring bills	2% cash back	4% cash back
Earn — Dining	2% cash back	2% cash back
Earn — Everything else	1% cash back	1% cash back
Cash back redemption	Annual statement credit	Annual statement credit
Travel insurance	✓ Comprehensive	✓ Comprehensive
Foreign transaction fee	2.5%	2.5%
CIBC banking fee waiver	Sometimes available	N/A

The Recurring Bills Difference

This is where the cards diverge:

What counts as recurring bills (Scotiabank Momentum):

Cell phone / mobile plan
Home internet service
Streaming subscriptions (Netflix, Disney+, Apple TV+, Spotify, Amazon Prime)
Home, auto, or life insurance premiums
Gym memberships
Other pre-authorized monthly charges

Monthly Bills	CIBC Dividend (2%)	Scotia Momentum (4%)	Annual Difference
$200/month	$48/year	$96/year	+$48
$300/month	$72/year	$144/year	+$72
$400/month	$96/year	$192/year	+$96
$500/month	$120/year	$240/year	+$120

On $400/month in recurring bills alone, the Scotiabank Momentum earns $96 more per year — nearly enough to cover the full annual fee.

Grocery and Gas: Equal

Both cards earn 4% cash back on groceries and gas — no difference here. This is the highest grocery cash back rate available on a standard (non-PC Optimum) credit card in Canada.

On $700/month grocery + $200/month gas ($10,800/year):

Both cards earn: $432/year in cash back (at 4%)

Cash Back Calculation Example

Household spending: $700/month grocery, $200/month gas, $400/month recurring bills, $500/month other:

Category	Monthly Spend	CIBC Dividend	Scotia Momentum
Grocery	$700	$336/year (4%)	$336/year (4%)
Gas	$200	$96/year (4%)	$96/year (4%)
Recurring bills	$400	$96/year (2%)	$192/year (4%)
Other	$500	$60/year (1%)	$60/year (1%)
Total		$588/year	$684/year
After $120 fee		$468 net	$564 net

Scotia Momentum delivers $96 more per year in this scenario — increasing with more recurring bill spending.

Cash Back Redemption

Both cards pay cash back annually as a statement credit:

CIBC Dividend: credited once per year (typically January for prior year)
Scotiabank Momentum: credited once per year as a statement credit

Neither card offers on-demand or monthly redemption. If you want mid-year flexibility, consider a card like the Tangerine Money-Back (monthly cash back) or Rogers Red World Elite (monthly statement credit).

When to Choose CIBC Dividend

You bank with CIBC and may qualify for an annual fee waiver
You have minimal recurring automatic bills (subscriptions, insurance)
You want CIBC ecosystem integration
Your grocery and gas spending is very high but bills are low

When to Choose Scotiabank Momentum

You have $200–$500/month in recurring pre-authorized bills
You have a phone plan, internet, streaming subscriptions, and/or insurance on a card
You don’t bank with CIBC (no fee waiver opportunity there)
You want maximum cash back on all four categories: grocery, gas, recurring bills, and dining

Verdict

Scotiabank Momentum Visa Infinite wins for most households. The 4% on recurring bills is the decisive differentiator — most Canadians with a cell phone, internet, and even one streaming subscription clear $200/month in this category.

CIBC Dividend is preferred for CIBC banking clients who may receive an annual fee waiver, making the effective annual fee $0 — at which point the 2% vs 4% recurring bills gap matters less.

Card details current as of June 2026. Cash back earn rates and redemption terms subject to change. Verify with the issuer before applying. See our Advertiser Disclosure.