Scotia Momentum Mastercard
Cash Back No Annual Fee Rewards

Scotia Momentum Mastercard

Scotiabank Scotiabank
Welcome Bonus: Get a 7.99% introductory rate on purchases for the first 6 months.
Annual Fee $0
Purchase APR 20.99%
Cash Advance 22.99%

RateBuddy Verdict

The Good
  • Charges $0 annual fee for both the primary cardholder and any supplementary cards added to the account.
  • Provides a helpful 7.99% introductory interest rate on purchases for the first 6 months, which is great for offsetting the cost of large upcoming expenses.
  • Highly accessible for those looking to build credit, requiring only a low minimum credit limit of $500 to qualify.
The Trade-offs
  • Ongoing cash back rates are very low, capping at 1% for bonus categories and dropping to 0.5% for all other purchases.
  • Completely lacks any embedded credit card insurance (no purchase security, extended warranty, or travel coverage).
  • Does not offer a lump-sum cash welcome bonus or statement credit, unlike its No-Fee Visa counterpart.

Rewards & Earnings

Groceries 1%
Dining 0.50%
Gas 1%
Travel 0.50%
Recurring Bills 1%
Base Rate 0.50%
Rewards Summary: Gas, Groceries, Drugstores & Recurring Bills: 1% cash back; Base Earn: 0.5% cash back.

Welcome Bonus Details

Get a 7.99% introductory rate on purchases for the first 6 months (20.99% applies after that).

Features & Benefits

No Annual Fee
No annual fee

Insurance Coverage

Note: This card does not include embedded Travel, Medical, Car Rental, or Purchase insurance benefits.

Rates, Fees & Eligibility

Purchase APR20.99%
Cash Advance APR22.99%
Annual Fee$0
Supplementary Card Fee$0
Income Required No specific requirement listed.
Recommended Credit Score—

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Filed Under

Cash Back No Annual Fee Rewards
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