For people who love to eat and drive, the Scotia Momentum VISA Infinite Card is the best rewards credit card with a fee. It provides an unrivaled 4% cash back on food and gas along with 2% on recurring payments and drugstore purchases, and 1% on the rest. On top of that, this card also comes with comprehensive insurance benefits and concierge benefits.
Welcome bonus The whooping 10% cashback bonus on the first three months is a very delicious offer to refuse.
No-nonsense rewards Rewards are clear, transparent, easy to earn and easy to redeem. Cash back rewards are paid out annually either as a deposit to eligible chequing or savings account or credited to your credit card statement.
Enhanced insurance package The improved insurance package is comparable with other more premium cards. It provides comprehensive coverage on travel, including rental car collision loss or damage as well as purchase security and extended warranty protection.
Additional Perks. Obtain exclusive offers from Scotiabank including concierge service, competitive hotel rates and upgrades, and access to dining and wine country programs.
Annual Fee. Gain access to all of the above perks at the cost of $120 per year.
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Great reasons to get this card for your everyday purchases
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on supplementary cards. A welcome offer value of $350*.
• 4% on eligible recurring bill payments and grocery store purchases
• 2% on eligible gas station and daily transit purchases
• 1% cash back on all other eligible everyday purchases
• Complimentary Concierge Services 24/7 • Visa Infinite Dining Series • Visa Infinite Music Series • Wine Country Wonders • Luxury Hotel Privileges • Comprehensive Travel Insurance & New Mobile Device Insurance coverage
7.99% introductory interest rate on purchases for the first 6 months
Although it comes with no bells and whistles, the Scotia Momentum MasterCard Credit Card has an attractive low balance transfer promotion that may be appealing for people looking to pay off their debt. This no-fee cashback credit card also has solid features enough to make it ideal for people who want to build their credit.
Why We Like It:
Appealing low balance transfer offer This credit card offers a tempting 7.99% balance transfer promotional interest rate for a limited time, so you can slowly pay off your existing balance.
$0 annual fee Because it is a no-fee credit card, it makes the perfect starter card, or a secondary card for existing Visa or Amex cardholders who wish to shop on stores where only a MasterCard is accepted such as Costco.
Cashback on four key areas Not many no-free credit cards offer no-limit cashback rewards on gas, groceries, drugstore and recurring bills.
Peace of mind Even though this MasterCard lacks travel insurance and purchase protection, it makes up for it by giving 0% liability on all unauthorized credit card payments.
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Scotia Momentum Mastercard Credit Card review
•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 August 1, 2019. Subject to change.
Make everyday purchases quickly and safely with just a tap of your contactless-enabled Mastercard or device
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.