Cash Back
No Annual Fee
Balance Transfer
Scotia Momentum No-Fee Visa Card
Scotiabank
Current Welcome Offer
Earn 10% cash back for the first 3 months + 0% intro APR on balance transfers for 6 months.
Annual Fee
$0
Purchase APR
20.99%
Cash Adv. APR
22.99%
Welcome Bonus
~$200
RateBuddy Verdict
The Good
- Charges $0 annual fee for both the primary cardholder and any supplementary cards added to the account.
- Features an excellent dual-welcome bonus: 10% cash back in the first 3 months AND a 0% balance transfer rate for 6 months.
- 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).
- The 0% balance transfer offer carries a 2% transfer fee, which cuts into your overall debt consolidation savings.
Rewards & Earnings
Groceries 1.00%
Dining & Takeout 1.00%
Gas & Transit 1.00%
Travel 1.00%
Base Rate 0.50%
Rewards Summary: Groceries, Food Delivery, Gas, Transit, Drugstores & Recurring Bills/Subscriptions: 1% cash back; Base Earn: 0.5% cash back.
- Groceries, food delivery, food subscription services, and drugstores: 1.0%
- Gas, EV charging, and daily transit (buses, taxis, rideshares): 1.0%
- Recurring bill payments and subscription services: 1.0%
- All other eligible purchases: 0.5%
Welcome Bonus Details
Earn 10% Cash Back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, get a 0% introductory interest rate on balance transfers for the first 6 months (2% transfer fee applies).
Estimated Value: $200.00
Features & Benefits
No Annual Fee
No annual fee
Introductory 0% APR on Balance Transfers
0% introductory interest rate on balance transfers for the first 6 months
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. |