Scotia Momentum No-Fee Visa Card
Cash Back No Annual Fee Balance Transfer

Scotia Momentum No-Fee Visa Card

Scotiabank Scotiabank
Welcome Bonus: Earn 10% cash back for the first 3 months + 0% intro APR on balance transfers for 6 months.
Balance Transfer: 0% Balance Transfer for 6 months (2% transfer fee)
Annual Fee $0
Purchase APR 20.99%
Cash Advance 22.99%
Bonus Value $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%
Dining 1%
Gas 1%
Travel 1%
Recurring Bills 1%
Base Rate 0.50%
Rewards Summary: Groceries, Food Delivery, Gas, Transit, Drugstores & Recurring Bills/Subscriptions: 1% cash back; Base Earn: 0.5% cash back.

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

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

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 Balance Transfer Student
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