Cash Back
No Annual Fee
Rewards
Scotia Momentum Mastercard
Scotiabank
Current Welcome Offer
Get a 7.99% introductory rate on purchases for the first 6 months.
Annual Fee
$0
Purchase APR
20.99%
Cash Adv. APR
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 1.00%
Dining & Takeout 0.50%
Gas & Transit 1.00%
Travel 0.50%
Base Rate 0.50%
Rewards Summary: Gas, Groceries, Drugstores & Recurring Bills: 1% cash back; Base Earn: 0.5% cash back.
- Eligible gas station, grocery store, and drugstore purchases: 1.0%
- Eligible recurring bill payments (utilities, gym memberships): 1.0%
- All other eligible transactions: 0.5%
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
Additional Perks
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Insurance Coverage
Note: This card does not include embedded Travel, Medical, Car Rental, or Purchase insurance benefits.
Rates & Fees Details
| Purchase APR | 20.99% |
|---|---|
| Cash Advance APR | 22.99% |
| Annual Fee | $0 |
| Supplementary Card | $0.00 |
| Income Required | No specific requirement listed. |