Scotia Momentum Visa Card review

The basics

• Earn cash back. Earn 2% cash back on all eligible gas station, grocery store and drug store purchases and on recurring bill payments (up to $25,000 annually), and earn 1% cash back on all other eligible purchases (and on all eligible purchases once the $25,000 annual spending limit is reached).
• Welcome offer. Get a 2.99% introductory interest rate on balance transfers for the first 6 months. Offer ends October 31, 2025.
• Purchase insurance. Most products purchased with your card are insured against theft, loss, or damage for 90 days from the purchase date and the manufacturer’s warranty is doubled for up to one year.

The perks

• Quick pay. Save time in busy checkout lines when you pay through Visa payWave, MyMobile Wallet, Visa Checkout and Apple Pay.
• Save on car rentals. Get a discount of up to a 25% at participating Budget and AVIS car rental locations in Canada and the US.
• World class service. Reach out to customer service 24/7 by calling the number on the back of your card. You can use this service to report cards missing or stolen, request additional cards, file complaints or resolve issues by speaking directly to an agent.

What to watch out for

• Annual fee. You have to pay an annual fee of $39 which can eat into your total savings.
• Minimum income requirements. You will need to provide proof that your annual gross income is above $12,000 per year.

Scotia Momentum Visa Card interest rates

What do other customers say?

Most customers are relatively satisfied with the perks and benefits on offer from the Scotia Momentum Visa Card. The card offers a fair rate of cash back on eligible purchases which can add up to big savings. Many cardholders are pleased with the cost-saving benefits of an introductory balance transfer offer, while others are impressed by the level of customer service provided by Scotiabank. Some customers feel that the level of rewards aren’t worth the annual fee of $39 and prefer to opt for a fee-free card in exchange for less cash back.

What should I know before I apply

• Eligibility requirements

  To apply for the Scotia Momentum Visa Card you need to:

  • Be a Canadian citizen or permanent resident.
  • Be at the age of majority in the province/territory of residence.
  • Have an annual gross income of at least $12,000 without declaring bankruptcy in the past 7 years.

• Required documents and information

  • Your name, residential status and contact information.
  • Your social insurance number and date of birth.
  • Your email address and phone number.

• Income requirements

  The minimum income required for Canadians to qualify for this credit card is only $12,000 a year, which means that even if you haven’t had the chance to make a relatively high income quite yet, you may still be able to get your hands on big savings.

How to apply

1. Click Go to site on this page to be securely directed to your Scotia Momentum Visa Card application.
2. Read through the Disclosure Statement details and click Accept & Continue.
3. Complete the application with details that include your name, email address, social insurance number and birth date.
4. Review and submit your application.

Bottom line

The Scotia Momentum Visa Card offers a no-frills, low-fee cash back rewards program for those who are interested in making a better return on everyday purchases. If you’re looking to get more bang for your buck, and aren’t interested in a ton of additional features, then this card might be right up your alley.

Pictures: scotiabank.com/ca