Scotia Momentum® Visa® Card

2% cash back on gas, recurring payments, grocery and drug store purchases. and recurring payments.

Updated: Dec 30, 2022

Advertiser Disclosure

Been waiting for a better credit card offer? It's here. ScotiaBank and Visa now offer the low-fee cash back rewards Momentum credit card. It's a smart financial choice that is designed to protect consumers, ensure lower fees and offer a great rewards program, too. Applying for Scotia Momentum Visa Credit Card is easy when you click the "Apply Now" button and visit the ScotiaBank website and there's always a great customer service team ready to answer questions.







34 User Ratings

Scotia Momentum® Visa® Card

This card is not available through MarketProSecure Canada.

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Introductory APR


Intro APR Period

6 months on BT

Recommended Credit


Key Features

  • Get a 0% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39).Offer ends Jan 3,2023
  • Cash back with low annual fee
  • Earn 2% cash back for every $1 you spend on all eligible gas stations, grocery stores, drug store purchases, and recurring bill payments.
  • Earn 1% cash back on all other eligible purchases.

Our Take

Scotiabank offers various financial products, including multiple visa cards. The Scotia Momentum Visa credit card is one of those options to consider – it offers cashback rewards1 and low fees with some decent features. Aside from cashback rewards, Scotia Momentum has a 0% balance transfer fee for the first six months, which is good compared to other Canadian cards at this level. It’s a good option for earning cash rewards when buying everyday essentials. The following review will help you understand this card and whether it’s a good option for your needs.

Momentum Visa Card is Best for

  • People who want a cashback rewards card with a low fee.
  • Those who need a card to buy all the essentials needed.
  • People with good credit scores.
  • People looking to build credit history securely and conveniently.
  • Cardholders that don’t like carrying an outstanding balance.

Scotia Momentum Visa Cash Back Card Advantages

The main benefit of the Scotia Momentum Visa is the cashback rewards. However, let’s dig a little deeper to show you what you’ll get.

Good cashback conditions

Cardholders earn 2% cashback on all their essential purchases, including recurring payments, drug store purchases, gas, groceries, etc. The cashback is limited to a total of $25K purchases per year. In other words, you can earn up to $500 in rewards, and after passing the limit, you will get an unlimited 1% cashback on spending in these categories. At the same time, there is a fixed 1% cashback on all the other purchases that don’t cover essentials.

Extended warranties

This card lets cardholders double the manufacturer’s warranty lasting up to 12 months. Users get a lifetime claim with a maximum amount of $60K and an occurrence maximum claim of $10K. Both of these conditions are applied for extended warranty coverage and purchase security.

Reliable purchase security

All purchases you make are protected against damage, theft, and loss for a maximum of 90 days. This coverage can handle a maximum of $10K in replacement or repair costs.

0% starting balance transfer fee

This card gives new users a special period of six months, during which there’s no balance fee2. It’s important to remember that this is only a promo period and that the balance fee goes to 22.99% after the first six months have passed.

Inexpensive car rental

Many people are surprised that this card gives users a 25% discount on all transactions related to car rental. However, this card is meant for travelling professionals who often use these services. This feature helps them save a lot while reducing car rental costs and making essentials more accessible.

Improve your credit score

Scotia Momentum Visa lets cardholders boost their credit score easily, as all the transactions are reported to the three major credit bureaus.

Are There Any Disadvantages

This card doesn’t let you carry an outstanding balance. Of course, you can carry one if you want to, but you will lose a lot of money. It’s not a card you can use for debt consolidation, either. Another big downside of this card for people who don’t like fees is the $39 annual fee everyone has to pay right away.

At the same time, getting an additional card for the same account will cost you an extra $15. The Scotia Momentum Visa is a straightforward card that gives you great rewards on your ongoing purchases and helps you save up while building credit and nothing else. If you’re looking for anything outside of that, it’s probably best to find a different credit card.

What Makes Scotia Momentum Visa Card Different

This card is unique because it allows you to get $500 per year in cashback with one feature while giving an additional 1% cashback on all purchases to increase this number even further. The six-month promo period with a 0% balance transfer also allows you to tackle any unwanted debt at the start and help you understand how to use this card without consequences.

On top of that, this card doesn’t have any high-income requirements making it suitable for those who want to boost their credit score and maybe even upgrade to another Scotiabank card later.

Offers Similar to Scotia Momentum Visa and Alternatives

Bottom Line

Take the time to figure out whether Scotia Momentum Visa is the right card for you. With some solid cashback rewards, insurance, and discounts, it can be a perfect card for your everyday spending that lets you boost your credit score while saving up.

Frequently Asked Questions

Reference Index

  1. What is cash back? Investopedia
  2. What is the balance transfer fee? Investopedia
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Basic Information
Issuer: Scotiabank
Network: VISA
Category: Consumer (Regular)
Best Used For:
  • Instant Decision
Rewards: Yes
Reward Types:
  • CashBack Rewards
  • Gas Rewards
  • Universal Rewards
Reward Units: Cash
Rates & Fees
Introductory APR (%): 0%
Applied Towards:
  • Balance Transfer
Intro Period: 6 months on BT
Regular APR: 19.99%
Regular APR Type:
Annual Fee: $39
Balance Transfer: Yes
APR on Cash Advances: 22.99%
Grace Period: See Terms
Other Fees:
  • Foreign Currency Conversion: 2.5%
  • Supplementary Card Fee: $15
  • Dishonored Payment Fee: $48

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Non-Affiliate Offer Disclosure
*The information provided for Scotia Momentum® Visa® Card is believed to be accurate at the time of evaluation and has been collected independently by MarketProSecure® Canada. The card issuer did not provide the details, nor it is responsible for their accuracy.

Scotia Momentum® Visa® Card

Reviews - (1 User Reviews)
Share your experience and rate the Scotia Momentum® Visa® Card
November 18, 2020
Jason (36-45) - Cardholder
Income on Application
Credit Score
Excellent (740-850)
Credit Limit
Filed for Bankruptcy

Low-fee cash back rewards

If you’re looking for a good low-fee cash back rewards credit card, I would recommend trying this card. Applying is exceptionally easy and I really have to give it to their customer support, those guys really know how to help a client. The card has a few downsides, which isn’t anything new. There are no bonus points and annual fees could be better, but there are tons of rewards that make this card so good. What sealed the deal for me was their customer protection program. It’s not the best, but it’s definitely not the worst card out there.
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Scotia Momentum® Visa® Card

Scotia Momentum® Visa® Card

Rec. Credit Score: Good

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