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Scotia Momentum® Visa Infinite* Card

Scotia Momentum® Visa Infinite* Card

Maximum cash back on everyday spending!

Our Rating:
Annual Fee Interest Rate Balance Transfer Cash Advance Credit Score Excellent: -- I've had a credit card, or loan for 10+ 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 six 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, an estimate on the dollar value of your rewards based on your monthly spend so that you can compare like for like. Now that’s wise thinking!
$99.00 *First year annual fee waived 19.99% 22.99% 22.99% Excellent 4.00% *maximum
  • Card Details Details
  • Our Review Review

Card Details


  • First year annual fee waived†

  • 4% on eligible gas station and grocery store purchases

  • 2% on eligible drug store purchases and recurring bill payments

  • 1% cash back on all other eligible everyday purchases

  • Rates, fees and other information are effective as of March 1, 2018. Subject to change.


NOTE: Scotiabank will waive the initial annual fee for the primary card and each additional supplementary card for the first year (the "Offer"). Offer applies to new Accounts only that are opened by June 30, 2018 (the "Offer End Date"). Any additional supplementary cards must be issued by June 30, 2018, to qualify for the offer. Offer applies only to new Scotiabank credit card accounts opened by the Offer End Date. Former or current Scotiabank credit cardholders that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account are excluded from this Offer. Offer may be changed or extended and cannot be combined with any other offer.


The preferred annual fee is $99 for the primary card and $30 for each additional supplementary card. Rates and fees are subject to change.

Features and Benefits

  • Purchase protection and extended warranty
  • Baggage insurance
  • Flight delay insurance
  • Rental vehicle insurance
  • Travel medical insurance
  • Trip interruption or cancellation insurance
  • Travel accident insurance
  • Avis Rental Car Discount

RateSupermarket.ca's Review

The Scotia Momentum® VISA Infinite* is a credit card chock-full of features that can help you save money and make your life easier in a number of ways. Not only is it a well-rounded, high-earning cash back credit card with travel perks, but it also comes with no annual fee for the first year!

 

And while it may not earn any actual travel rewards, it offers the opportunity for a lot of cash back if used to its full potential – cash back that you can use towards whatever you so please.

 

Cardholders earn four times the cash back on gas station and grocery store purchases, while earning two per cent cash back per dollar on eligible drug store purchases and recurring bill payments. And finally, you can earn one per cent cash back on all other eligible purchases, so you're not limited to only eligible vendors.

 

The card also comes with some luxurious options only available to VISA Infinite cardholders that can help enhance your travel experiences. There are also a number of travel insurance benefits and it's eligible for Apple Pay, making it one of the best reward credit cards on the market today. It even won the Best Rewards Card award at our Best of Finance awards in 2017.

 

Earning Potential: $771.24 in cash back*

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

 

Assuming $1,119 is spent on the card monthly, in the following categories**:

 

Pharmacy Food Gas
$54.16 $665 $152.42***
Travel Other Monthly Total
$148 $100 $1,119.58

 

Cash back earned over a 24-month period: $870.24
Total (subtracting annual fee): $771.24

 

*/**Source: Statistics Canada
***Based on $1.00/litre gas prices

 

That's enough cash back to buy a round trip plane ticket to a sunny island destination! In comparison to many travel reward cards where it takes several years to earn enough points for a plane ticket, this cash back card could actually be a quicker route to your dream vacation.

Pros

  • The card has an annual fee of $99, however, accounts opened before June 30, 2018 get the initial annual fee waived for the primary and supplementary cards.
  • The ability to earn cash back on recurring bill payments is definitely a special feature. Basically, you get rewarded for paying your bills on time. It's a nice touch not typically offered by many other card vendors. 

Cons

  • One of the biggest downsides to this card is the waiting period until you can redeem your cash back. The cash back earned with your Scotia Momentum® VISA Infinite* card will show on each of your monthly statements, year-to-date. However, the cash back accumulated will only be awarded to your account as a credit on an annual basis. The credit will automatically appear on your November statement. After that, your cash back earned will reset to $0.
  • The annual fee waiver offer only applies to new Scotiabank customers. That means if you currently bank with Scotiabank or had an account in the past but have since closed it, you are ineligible for the annual fee waiver.

Additional Benefits

  • Exclusive access to private dining experiences and VIP lounges at music events with the VISA Infinite Dining Series and VISA Infinite Music Series.
  • Complimentary wine tastings, private vineyard tours and discounts on wine purchases at over 60 wineries in British Colombia and Ontario.
  • 24/7 concierge offering complimentary personal assistance in planning your trip, restaurant reservations, accommodations, or concert ticket purchases.
  • Guaranteed best available rate at luxury hotels, as well as an automatic room upgrade when you check in, and free Wi-Fi in your room.
  • Up to 25 per cent off base rates on Avis® or Budget rentals in Canada or the U.S. when you pay for your rental with the card.

 

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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