Scotia Momentum Visa Card
Cash Back Rewards

Scotia Momentum Visa Card

Scotiabank Scotiabank
Welcome Bonus: 2.99% introductory interest rate on balance transfers for the first 6 months.
Balance Transfer: 2.99% Balance Transfer for 6 months (2% transfer fee)
Annual Fee $49
Purchase APR 20.99%
Cash Advance 22.99%

RateBuddy Verdict

The Good
  • Offers a solid 2% cash back rate covering a wide variety of everyday spending including groceries, gas, transit, food delivery, and recurring bills.
  • Highly accessible for those looking to build credit, requiring only a low minimum credit limit of $500 to qualify.
  • Provides flexible, on-demand cash back redemption starting at a very low $25 minimum threshold.
The Trade-offs
  • Carries a $49 annual fee, which can eat into the cash back earned for low-spend users compared to no-fee alternatives.
  • Completely lacks travel, medical, or car rental collision insurance coverage.
  • The welcome bonus is limited to a 2.99% balance transfer rate rather than an accelerated cash back boost.

Rewards & Earnings

Groceries 2%
Dining 2%
Gas 2%
Travel 1%
Recurring Bills 2%
Base Rate 1%
Rewards Summary: Groceries, Food Delivery, Gas, Transit, Drugstores & Recurring Bills/Subscriptions: 2% cash back; Base Earn: 1% cash back.

Welcome Bonus Details

Get a 2.99% introductory interest rate on balance transfers for the first 6 months.

Features & Benefits

Extended Warranty Insurance
Included
Purchase Security Insurance
Included

Insurance Coverage

Purchase Security: 90 days; Extended Warranty: +1 Year; Note: This card does not include Travel, Medical, or Car Rental insurance.

Rates, Fees & Eligibility

Purchase APR20.99%
Cash Advance APR22.99%
Annual Fee$49
Supplementary Card Fee$15
Income Required No specific requirement listed.
Recommended Credit Score—

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Filed Under

Cash Back Rewards
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