Cash Back
No Annual Fee
Balance Transfer
Scotia Momentum® No-Fee Visa* Card
Scotiabank®
Earn 5% cash back, get a 0.99% balance-transfer rate and pay no annual fee.*
Welcome Bonus:
Earn 5% cash back for the first 3 months, get a 0.99% balance-transfer rate for 9 months and pay no annual fee.*
Balance Transfer:
0.99% introductory balance-transfer rate for 9 months; 2% fee applies.*
Ratebuddy Cash Rebate
$60 cash rebate
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Annual Fee
$0
Purchase APR
20.99%
Cash Advance
22.99%
Bonus Value
$100
RateBuddy Verdict
RateBuddy Take
The Scotia Momentum No-Fee Visa Card offers an approachable way to earn cash back without paying an annual fee. Its 1% earn rate covers several common household categories, while 0.5% applies to other eligible purchases. The introductory 5% cash-back offer and 0.99% balance-transfer rate add attractive promotional value, complemented by flexible cash-back redemption and useful partner benefits.
The Good
- Pay no annual fee for the primary card or supplementary cards while earning cash back on eligible purchases.
- Earn 5% cash back on up to $2,000 in eligible purchases during the first three months, for up to $100 in promotional cash back.
- The introductory 0.99% balance-transfer rate is complemented by Shell fuel value, Avis and Budget savings, Scotia SelectPay and anytime cash-back redemption once the $25 minimum is reached.
The Trade-offs
- The regular cash-back rate is 0.5% on purchases outside the eligible 1% categories.
- A Cash Back balance of at least $25 is required before a redemption can be completed.
- The 0.99% introductory balance-transfer rate lasts nine months, carries a 2% fee per cash advance and changes to 22.99% afterward.
Rewards & Earnings
Groceries
1%
Dining
0.50%
Gas
1%
Travel
0.50%
Recurring Bills
1%
Base Rate
0.50%
Rewards Summary:
Earn 1% cash back on eligible groceries, food delivery and food subscriptions, drugstore purchases, gas, electric-vehicle charging, daily transit, recurring bill payments and eligible recurring subscriptions. Earn 0.5% cash back on all other eligible purchases. Primary and co-borrower cardholders can redeem a Cash Back balance of $25 or more at any time.
Welcome Bonus Details
Earn 5% cash back on the first $2,000 in eligible purchases during the first three months, for up to $100 in promotional cash back. Plus, get a 0.99% introductory interest rate on balance transfers for the first nine months. A 2% fee per cash advance applies, and the standard 22.99% cash-advance rate applies afterward. The annual fee is $0 for primary and supplementary cards. Eligibility restrictions and conditions apply.*
Estimated Value: $100
Features & Benefits
No Annual Fee
Everyday Cash Back
Value: 1
Earn cash back on every purchase
Additional Perks
Enjoy no annual fee for primary and supplementary cards, get up to 6¢/L in value at participating Shell Canada stations, redeem Cash Back balances of $25 or more at any time, save up to 25% off eligible Avis and Budget base rates, and access Scotia SelectPay for eligible purchases. Conditions apply.
Insurance Coverage
Optional Scotia Credit Card Protection may help pay the outstanding account balance or cover monthly credit-card payments following certain eligible unexpected life events. Basic and Comprehensive Protection bundles are available. Enrollment, eligibility and coverage conditions apply.
Rates, Fees & Eligibility
| Purchase APR | 20.99% |
|---|---|
| Cash Advance APR | 22.99% |
| Balance Transfer APR | 22.97% |
| 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
Balance Transfer
Student
Newcomer / New to Canada
Rewards
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