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Scotia Momentum® VISA* card

Scotia Momentum® VISA* card

Up to 2% cash back + 1.99% intro rate on balance transfers, and cash advances.

Our Rating:
Annual Fee Interest Rate Balance Transfer Cash Advance Credit Score Good: -- I've had a credit card, or loan for 6+ years. I've had good credit for the last 7 years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). I haven't opened a new credit card account, loan, or line of credit in the last nine months. I've made the minimum payments on my existing credit cards for the past three months. Rewards Are all rewards created equal? -- From points, to miles, to cash back - how do you know how much you're really getting? To help you find the best rewards card, we've created the Your Reward Return, a rate that lets you know the rate of return from your spending into rewards so that you can compare like for like. Now that's wise thinking!
$39.00 19.99% 1.99% *22.99% after 6 months 1.99% *22.99% after 6 months Good 2.00% *maximum
  • Card Details Details
  • Our Review Review

Card Details


  • 2% cash back on eligible gas station, grocery store and drug store purchases and recurring bills

  • 1% cash back on all other eligible purchases

  • 1.99% introductory interest rate on cash advances and balance transfers for the first six months for accounts opened by October 31, 2016.

  • Purchase security and extended warranty protection

  • 20% AVIS rental card discount

Features and Benefits

  • Purchase protection and extended warranty
  • Avis Rental Car Discount

RateSupermarket.ca's Review

The Scotia Momentum® VISA card is the second tier option in Scotiabank's suite of Momentum Visas. If you're someone who pays off their balance monthly and is looking for cash back rewards on everyday spending, this card is a good option - although most cardholders would be better off with the Momentum Visa Infinite (which has a higher annual fee - waived for the first year - but the savings outweigh that cost).

 

Cardholders enjoy 2% cash back on all eligible gas station, grocery store and drug store purchases and on recurring payments (e.g. cell phone bills charged to your card) and 1% cash back on all other eligible purchases. For $39 a year, this offering may not be worth it, unless you really plan on using the card for everyday purchases and recurring payments. The Scotia Momentum® VISA card also comes with Purchase Security and Extended Warranty Protection, which is becoming more common in robust credit card programs, and can be a great safety net for cardholders.

 

Recently, Scotiabank introduced a limited time 1.99% introductory interest rate on balance transfers and cash advances for the first 6 months, which means you can save money on interest while paying down principal from another higher interest credit card. This is a good option, but again, there are other cards with lower interest rates that last up to a year - a more ideal solution for those with a heavy balance they'd like to pay down.

Top Features About Scotia Momentum® VISA card

  • Up to 2% cash back on everyday purchases
  • Purchase Security and extended warranty protection
  • 1.99% introductory interest rate on balance transfers and cash advances for the first 6 months
  • 20% discount at participating AVIS car rental locations worldwide

Pros and Cons of the Scotia Momentum® VISA card

Pros Cons
  • Up to 2% cash back on everyday purchases and recurring payments
  • 1.99% introductory interest rate on balance transfers and cash advances for the first 6 months
  • Purchase security and extended warranty protection
  • $39 annual fee
  • Low cash back rate relative to other products

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

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