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Scotia Momentum® Mastercard ®* Credit Card

Scotia Momentum® Mastercard ®* Credit Card

7.99% introductory interest rate on purchases for the first 6 months

  • Card Details Details
  • Our Review Review

Card Details

  • 7.99% introductory interest rate on purchases for the first 6 months (19.99% after that)

  • Cash back on everyday spending with no annual fee

  • 1% cash back on eligible gas station, grocery store and drug store purchases and recurring bill payments

  • 0.5% cash back on all other eligible everyday purchases

  • Rates, fees and other information are effective as of Sep 1, 2020. Subject to change.

*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.



RateSupermarket.ca's Review

Offering 1% cash-back on groceries, gas, pharmacy purchases and bill payments, and 0.5% cash-back on just about everything else, you cannot fault this card's earning flexibility. On top of that, there is no annual fee, so any cash-back you earn is yours to keep!

Cardmembership has several other advantages, such as enrollment in the Mastercard Experiences program, and discounts on rental cars.

New cardholders benefit from an ultra-low interest rate of 7.99% for the first six months. This is especially appealing if you have a big, one-off expense coming up. You can make the purchase and use this low-interest rate to pay it off in bite-size chunks. Try to clear your balance before the offer ends though, , as the interest rate shoots up to 19.99% after six months. There is also no purchase protection or extended warranty with this card, but this shouldn't be a dealbreaker.

Earning Potential: $263.10 in cash-back

So, how does this card stack up to other cash-back reward cards? We crunched the numbers using our Best of Finance methodology to see how much you could earn over a 24-month period.

Assuming $1,222.96 is spent on the card monthly, at eligible retailers in the following categories*:


Pharmacy Food Gas
$ 55.33 $ 758.53 $ 155.72**
Travel Other Monthly Total
$ 151.21 $ 102.17 $ 1,222.96


Total cash-back earned over a 24-month period: $263.10

*Source: Statistics Canada – amount spent by average Canadian each month
**Based on $1.00/litre gas prices


For a no-fee card, $263.10 in cash-back within two years of average spending is a very nice return! And if you use this card to pay recurring bills, you can expect even more cash-back in that time.



  • There is no annual fee and you can get a supplementary card for free too. Give it to a family member and your combined spending will earn more cash-back.
  • If you don't always pay off your balance in full, you can take advantage of the 7.99% introductory interest rate on purchases. This rate is in effect for the first six months of cardmembership, and increases to 19.99% afterwards.
  • With this card, you earn 1% cash-back on groceries, gas and drug store purchases.
  • You also get 1% cash-back on recurring payments. Not only can you consolidate all of your bill payments into one manageable place, but you get money back too! Can you imagine getting paid to pay your bills?
  • Earn 0.5% cash-back on all other eligible purchases. You can shop wherever you like, without having to restrict yourself to specific vendors to earn your rewards.
  • If you are concerned about over-spending, this card allows a credit limit of just $500 if you wish, minimizing the risk of accruing debt you can't afford to pay off.
  • By becoming a Mastercard member, you automatically have 24-hour access to Mastercard Global Service, available to help you if your card gets lost or stolen.
  • Buying in bulk? Mastercard is the only credit card accepted at Costco warehouses in Canada.
  • As a Scotia Momentum® Mastercard ®* Credit Card holder, you are protected from unauthorized purchases on your account by the Zero Liability protection plan.
  • Enjoy exclusive events bought to you buy the Mastercard Experiences program.
  • Save up to 25% when renting a car from participating AVIS and Budget locations in Canada and the United States.



  • There are certainly higher earning cash-back cards out there, but you typicall have to cough up an annual fee to get your hands on them. If you are considering paying an annual fee, make sure that the rewards outweigh the expense.
  • This card does not offer purchase protection or extended warranty.

Rate, product information and rewards estimate are subject to change at any time and does not constitute financial advice. Please contact supplier for complete details

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