Best Scotiabank Credit Cards in Canada for 2021

Best Scotiabank Credit Cards in Canada

Best Scotiabank Travel Credit Card: Scotiabank Gold American Express® Card and Scotiabank Passport™ Visa Infinite*Card

 

Best Scotiabank No Foreign Transaction Fees Credit Card: Scotiabank Gold American Express®  Card and Scotiabank Passport™ Visa Infinite* Card

 

Best Scotiabank No-Fee Travel Credit Card: Scotiabank American Express® Card

 

Best Scotiabank Cash Back Credit Card: Scotia Momentum® Visa Infinite*Card

 

Best Scotiabank No-Fee Cash Back Card: Scotia Momentum® No-Fee Visa*Card

 

Best Scotiabank Low Interest Credit Card: Scotiabank Value® Visa*Card

 

Best Scotiabank No Annual Fee Credit Card: Scotiabank Value® No-Fee Visa*Card

 

Best Scotiabank Credit Card for Students: SCENE®* Visa*Card

 

Best Scotiabank U.S. Dollar Credit Card: Scotiabank® U.S. Dollar VISA* Card

 

Best Scotiabank Business Credit Card: Scotia Momentum for Business Visa Credit Card and Scotiabank Passport Visa Infinite Business Card

Scotiabank Credit Cards Overview

Scotiabank’s stand out feature for many of their credit cards is their Scotia Rewards. It is an in-house program which allows clients to redeem electronics, travel, gift cards or use rewards for statement credits. The Scotia Rewards Travel Service offers clients a full-service travel agency experience tied into their reward system thereby giving card holders many connections in travel experiences and benefits.

With cashback, no annual fee and low interest credit cards, Scotiabank meets the needs of nearly everyone. Often waiving the annual fees and offering huge reward bonuses for using new credit cards in the first few months, Scotiabank offers extremely competitive credit cards. Most come with different travel benefits, rental discounts, purchase protection options as further benefits.

Scotiabank Credit Card Benefits

  • 16 different credit cards to choose from
  • Scotia Rewards program and the Scotia Reward Travel Service
  • Huge sign up and usage bonuses

Scotiabank Credit Card Drawbacks

  • Not tied into any frequent flyer programs
  • Low interest options have higher interest than other big banks

 

Best Scotiabank Travel Credit Card and Best Scotiabank No Foreign Transaction Fees Credit Card

Scotiabank Gold American Express®Card

With the Scotiabank Gold American Express®Card you do not pay any foreign transaction fees. This is great news for frequent travelers. 

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The earn rate is incredible. You get 5 Scotia Rewards points per $1 spent at grocery stores, restaurants, fast-food, and bars. That includes Skip the Dishes and subscriptions like Hello Fresh. You also earn 5 points per $1 on entertainment—think movies, theatre, and ticket agencies.

You earn 3 points per $1 on gas and daily transit, plus select streaming services. All other purchases earn you 1 point per $1.


If those earnings don’t impress you, maybe the signup bonus will. You’ll earn 40,000 Scotia Rewards points when you charge $1,000 in the first 3 months. That’s worth up to $400! Charge $7,500 in the first 12 months, and you’ll get an additional 5,000 points.

 

And what can you do with all those points? Turns out, they’re pretty flexible. You can redeem them for a statement credit to cover any travel-related expense or book travel through Scotiabank’s online portal.

 

Throw in a comprehensive travel insurance package and Priority Pass membership, and you’ve got yourself a powerful and versatile travel rewards card. For an annual fee of $120, the new and improved Scotiabank Gold American Express®Card packs quite a punch.

 

Scotiabank Passport™ Visa Infinite*Card

The Scotiabank Passport™ Visa Infinite*Card offers 2 points for every $1 spent on grocery store, dining, entertainment, and transit purchases, and 1 point per $1 on everything else. That’s hardly best-in-class, so why does the Scotiabank Passport™ Visa Infinite* Card tie for best Scotiabank travel credit card?

Two reasons: a very lucrative bonus point offer and no foreign transaction fees.

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Let’s start with the bonus points. You earn 40,000 Scotia Rewards points when you spend $1,000 in the first 3 months. That’s worth up to $400, is easy to obtain, and is a solid reason to try this card for a year.

 

But wait, there’s more. Every year you charge $40,000 to your Scotiabank Passport™ Visa Infinite* Card, you’ll get 10,000 bonus points, plus an extra 2,000 points for every extra $10,000 charged. If you can hit the $40,000 minimum each year, the 10,000 bonus points will nearly cancel out the $139 annual fee.

 

If that wasn’t enough, the Scotiabank Passport® Visa*doesn’t charge any foreign transaction fees. It comes with a suite of travel insurance benefits, Visa Infinite benefits, and includes six free airport lounge passes.

 

The Best Scotiabank No-Fee Travel Credit Card

Scotiabank American Express® card

Premium travel credit cards have their target audience, but you don’t have to commit to an annual fee to enjoy travel rewards. The Scotiabank American Express® sports a golden combination: it has no annual fee, and offers a signup bonus.

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You’ll earn 30,000 Scotia rewards points when you spend $1,000 in the first 3 months. Plus, for a limited time, you are eligible to earn a 10,000 Scotia Rewards point bonus when you spend at least $7,500 in everyday eligible purchases in your first year. That’s worth $400 and is extremely easy to get. Considering it costs nothing to hold the card, that’s a generous bonus.

Of course, the rewards don’t stop there. You’ll earn 1 point for every $1 you spend with the Scotiabank American Express® points are redeemable for travel any time, with no restrictions.

 

When you do take a trip, the included travel insurance package will have you covered. You get travel emergency medical, trip interruption, travel accident, and rental car collision loss/damage insurance. For no annual fee, that’s impressive.

 

Best Scotiabank Cash Back Card

Scotia Momentum® Visa Infinite*Card

The Scotia Momentum® Visa Infinite* Card offers one of the highest cash back rates in the market. You’ll earn 4% cash back on groceries, recurring bill payments, and subscription services. Gas and daily transit purchases earn you 2%, and all other purchases yield 1% cash back. It’s easy to ramp up the value by setting up all your recurring bill payments on this card.

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The Scotia Momentum® Visa Infinite*Card includes a travel insurance package and access to all the Visa Infinite benefits, including a 24/7 concierge. It also offers new mobile device insurance up to $1,000.

Welcome offer: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.

 

The $120 annual fee is waived for the first year, so you have nothing to lose by trying it out. That being said, people who spend a lot on groceries and recurring bill payments will get value from the Scotia Momentum® Visa Infinite* Card even with the annual fee.

 

Best Scotiabank No-Fee Cash Back Card

Scotia Momentum® No-Fee Visa*Visa

It’s a basic no-annual fee card that pays 1% cash back on eligible grocery store, gas, and drug store purchases, along with recurring bill payments. The rate on other purchases is 0.5%.Want cash back rewards but can’t stomach an annual fee? Meet the Scotia ® Visa Infinite*’s little sister: the Scotia Momentum® No-Fee Visa*Card.


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There is an introductory offer: Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases) and 7.99% on purchases for the first six months. If you have to carry a balance, this offer can mean big savings. And speaking of savings, the Scotia Momentum® No-Fee Visa* also saves you 25% off Avis car rentals.

 

Fun fact: Scotiabank also offers a Mastercard version of this card.

 

Best Scotiabank Low Interest Credit Card

Scotiabank Value® Visa*

When you’re carrying a balance, interest rate is your card’s most important feature. Scotiabank Value® Visa*Card offers a low rate of 12.99% on purchases, cash advances, and balance transfers. For the first 6 months, get cash advances for a 0.99% introductory rate.


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Carrying a balance on the Scotiabank Value® Visa* instead of a typical credit card can save you hundreds in interest. The difference between 12.99% and 19.99% can really add up.

Transferring higher-interest balances to this card can be a smart way to take advantage of the low rate and repay your debt quicker.

 

This card carries a low $29 annual fee, but for cardholders with a balance, the interest savings are more than worth it. As a bonus, the Scotiabank Value® Visa* Card saves you 25% on AVIS rental cars.

 

Best Scotiabank No Annual Fee Credit Card

Scotia Momentum® Mastercard®* Credit Card


A low-introductory purchase rate card with no annual fee, the Scotiabank Momentum® Mastercard*includes a 25% discount on AVIS rental cars.

But here’s where the card really shines: for the first 6 months, there’s a 7.99% introductory rate on purchases. This presents a great opportunity to save on onterests for the first  6 months.

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Anyone looking into carrying a balance for the first 6 months to make a purhcase with lower interest rates should consider getting the Scotiabank Momentum® Mastercard* to capitalize on this opportunity.

Best Scotiabank Credit Card for Students

SCENE®* Visa* Card

Scotiabank’s SCENE®* Visa* Card isn’t exclusively for students, but cinema-lovers among their ranks will appreciate this card’s simple and lucrative rewards structure.

In case you didn’t know, Scene is Cineplex’s rewards program. Members earn Scene points when they buy movie tickets. Points can be redeemed at Cineplex theatres for free movies and food, and at select restaurant chains.

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The SCENE®* Visa* Card takes things up a notch. It pays 1 Scene point for every $1 spent on everyday purchases and 5 Scene points per $1 spent at Cineplex theatres or Cineplex.com.

 

Plus, it comes with a welcome bonus of 1,250 Scene points when you make your first purchase.You can redeem for a FREE movie with just 1,250 points.

Student or not, 1 free movies for no annual fee is a sweet deal. Anyone who goes to Cineplex theatres (or makes purchases on their website) regularly would be smart to carry this card just for the 5 Scene points per $1.

 

Best Scotiabank U.S. Dollar Credit Card

Scotiabank ® U.S. Dollar VISA* Card

The Scotiabank ® U.S. Dollar VISA* Card is a good solution for people who frequently travel to the U.S. or make purchases in U.S. Dollars.

When making U.S. Dollar purchases with most Canadian credit cards, you pay the exchange rate plus a 2.5% foreign transaction fee. This means you’re paying 2.5% more for every transaction. The Scotiabank ® U.S. Dollar VISA* takes the guess work out of the conversion and ditches the 2.5% fee for U.S. Dollar purchases.

The U.S. price you see is exactly what’s charged to your card. If you have a U.S. Dollar bank account, you can pay your card from that account without dealing with any exchange rates.

 

There’s a $35 annual fee, but for frequent U.S. shoppers, the recouped 2.5% on every transaction will quickly cancel out the fee. You also enjoy peace of mind with purchase security and extended warranty on purchases made with the card.

 

Best Scotiabank Business Credit Card

Scotia Momentum for Business Visa Credit Card

The Scotia Momentum for Business Visa Credit Card is a cash back card tailored to meet the needs of business owners.

 

It pays 3% cash back on the first $50,000 you spend each year at gas stations, restaurants, office supply stores, and on recurring bill payments. On all other purchases and after the $50,000 cap, you earn 1%.

 

The annual fee is $49, and business owners can order up to 6 supplementary cards ($29 each) for partners or employees. Every card linked to the account earns cash back, and purchases made with each card are clearly labeled on the statement. This makes it easy to assign spending accounts while keeping records organized.

 

Besides the attractive cash back rate, the Scotia Momentum for Business Visa Credit Card has an enticing balance transfer introductory offer. For the first 6 months, pay just 2.99% (22.99% after that). This is an excellent opportunity to transfer higher-interest balances and funnel the interest savings into debt payments.

 

Scotia Momentum for Business Visa cardholders also enjoy travel emergency medical and rental car collision loss/damage insurance. A somewhat unique benefit is a slightly extended grace period: 25 days instead of the typical 21.

 

Scotiabank Passport™ Visa Infinite Business* Card

The new Scotiabank Passport Visa Infinite Business Card is a premium travel rewards card for business owners.

 

We’ll say this up front: there’s a $199 annual fee. But before you scoff, take a minute to consider the benefits.

 

First of all, you can earn up to $500 in bonus offers in your first year. Here’s how it works: earn 40,000 Scotia Rewards points when you charge $5,000 in the first 3 months. Those points are worth up to $350 and are easy to obtain. To get the other 15,000 points, you have to charge $60,000 to the card in the first 12 months. That’s more of a challenge, but business owners putting though all their expenses may not have a problem.

 

Besides the extremely lucrative signup bonus, you’ll earn 1.5 points for every $1 you spend. Anyone who earns the full 50,000 signup bonus would have to charge at least $60,000 in their first year, which means they’d earn 90,000 points on their purchases. If you’re keeping track, that’s 140,000 points in one year—worth up to $1,400 in travel!

 

The Scotiabank Passport Visa Infinite Business Card doesn’t charge foreign transaction fees, which means big savings for frequent travelers. It also includes complimentary airport lounge access and a comprehensive insurance package.


Best Scotiabank Credit Cards in Canada

Best Scotiabank Travel Credit Card: Scotiabank Gold American Express® Card and Scotiabank Passport™ Visa Infinite*Card

 

Best Scotiabank No Foreign Transaction Fees Credit Card: Scotiabank Gold American Express®  Card and Scotiabank Passport™ Visa Infinite* Card

 

Best Scotiabank No-Fee Travel Credit Card: Scotiabank American Express® Card

 

Best Scotiabank Cash Back Credit Card: Scotia Momentum® Visa Infinite*Card

 

Best Scotiabank No-Fee Cash Back Card: Scotia Momentum® No-Fee Visa*Card

 

Best Scotiabank Low Interest Credit Card: Scotiabank Value® Visa*Card

 

Best Scotiabank No Annual Fee Credit Card: Scotiabank Value® No-Fee Visa*Card

 

Best Scotiabank Credit Card for Students: SCENE®* Visa*Card

 

Best Scotiabank U.S. Dollar Credit Card: Scotiabank® U.S. Dollar VISA* Card

 

Best Scotiabank Business Credit Card: Scotia Momentum for Business Visa Credit Card and Scotiabank Passport Visa Infinite Business Card



 

Scotiabank Passport®  Visa Infinite* Card
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Annual Fee: $139
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: $60000
Why Apply:
  • Amazing Welcome Offer
  • Bonus Earning Offers
  • Scotia Rewards Earnings
  • No Foreign Transaction Fees
  • Airport Lounge Access
Recommended Credit Score:
670 900
Average to Excellent
Apply Nowlock On Scotiabank's Secure Website

 

For an annual fee of $139, card holders obtain an array of travel benefits including point travel redemption, travel insurance and airport lounge access. Scotiabank boasts about this credit card because it is the only major bank in Canada that offers a credit card with no foreign transaction fees and airport lounge access.

 

  • Amazing Welcome Offer. When you spend $1,000 on the credit card within the first three months of ownership, you’ll earn 30,000 bonus points (worth about $300).
  • Bonus Earning Offers. If you spend $40,000 in a year with this credit card, you’ll earn an additional 10,000 points (worth about $100).
  • Scotia Rewards Earnings. Earn 2 Scotia points for every dollar you spend on groceries, dining, entertainment and daily transit. Earn 1 Scotia point for every dollar spent on other purchases.
  • No Foreign Transaction Fees. While the exchange rate of your foreign purchases will still apply, you’ll save money on foreign transaction fees which would typically be 2.5%.
  • Airport Lounge Access. A complimentary Priority Pass membership is provided with this credit card along with six free lounge visits per year.

The Scotiabank Passport™ Visa Infinite*Card offers 2 points for every $1 spent on grocery store, dining, entertainment, and transit purchases, and 1 point per $1 on everything else. That’s hardly best-in-class, so why does the Scotiabank Passport™ Visa Infinite* Card tie for best Scotiabank travel credit card?

Two reasons: a very lucrative bonus point offer and no foreign transaction fees.

Let’s start with the bonus points. You earn 30,000 welcome points when you spend $1,000 in the first 3 months. That’s worth up to $300, is easy to obtain, and is a solid reason to try this card for a year.

But wait, there’s more. Every year you charge $40,000 to your Scotiabank Passport™ Visa Infinite* Card, you’ll get 10,000 bonus points. If you can hit the $40,000 minimum each year, the 10,000 bonus points will nearly cancel out the $139 annual fee.

If that wasn’t enough, the Scotiabank Passport® Visa*doesn’t charge any foreign transaction fees. It comes with a suite of travel insurance benefits, Visa Infinite benefits, and includes six free airport lounge passes.

  Scotiabank Gold American Express® Card
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Annual Fee: $129
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:
  • Generous sign-up bonus
  • Flexible redemption options
  • Travel convenience
  • Additional protection
Recommended Credit Score:
670 900
Average to Excellent
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With a generous rewards rate of 5 points per dollar on gas, groceries, restaurants and entertainment, the Scotiabank Gold American Express Card will help make your travel plans a reality. Plus, with a flexible points program, you can book you flights on your own schedule.

  • Generous sign-up bonus -The Scotiabank Gold American Express® offers a way for new cardholders to quickly stockpile points. It lets you earn up to 50,000 bonus Scotia Rewards points in your first year (that’s up to $500 towards travel) Plus, no annual fee in the first year, including on supplementary cards.  
  • Flexible redemption options - With the Scotia Rewards Program, you can book your travel with any airline or hotel through its full-service travel agency. You can use your points to cover the whole cost of the trip, including taxes and fees, or combine your points and a charge to your card. Points can also be used to book hotels and rental cars.
  • Travel convenience - Added features such as rental car discounts and hotel room upgrades are designed to make travel as convenient and comfortable as possible.
  • Additional protection - This Amex credit card provides has one of the most comprehensive travel protection benefits with insurance against flight delays and lost baggage even insurance against burglaries.

With a generous rewards rate of 5 points per dollar on gas, groceries, restaurants and entertainment, the Scotiabank Gold American Express Card will help make your travel plans a reality. Plus, with a flexible points program, you can book you flights on your own schedule.Excellent credit card with 7 types of travel coverage and great reward earn rates.

  • Generous sign-up bonus -The Scotiabank Gold American Express offers a way for new cardholders to quickly stockpile points. It lets you earn 50,000 bonus points in your first year. 
  • Flexible redemption options - With the Scotia Rewards Program, you can book your travel with any airline or hotel through its full-service travel agency. You can use your points to cover the whole cost of the trip, including taxes and fees, or combine your points and a charge to your card. Points can also be used to book hotels and rental cars.
  • Travel convenience - Added features such as rental car discounts and hotel room upgrades are designed to make travel as convenient and comfortable as possible.
  • Additional protection - This Amex credit card provides has one of the most comprehensive travel protection benefits with insurance against flight delays and lost baggage even insurance against burglaries.




Scotiabank®* Platinum American Express® Card
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Annual Fee: $399
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:

 

  • Generous rewards
  • Travel benefits
  • Complete travel insurance coverage
Recommended Credit Score:
670 900
Average to Excellent
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Aside from its high return rates, the Scotiabank Platinum American Express provides an impressive list of purchase and travel insurance benefits that justifies the annual fee. The best credit card for insurance coverage in Canada, it provides peace of mind and comprehensive protection on the road and the longest extended warranty and purchase protection.

 

  • Generous rewards -The Scotiabank Platinum Amex Card has one of the highest rates for a travel credit card. It offers an unmatched 4X points for groceries, gas, restaurants and entertainment purchases and 1x point anywhere else. Points can be used for travel, merchandise and gift cards.
  • Travel benefits -Credit cards with annual fee have to justify the cost with lots of benefits. The Scotiabank Platinum Amex gives access to a full-service travel agency with a best price guarantee, Front Line tickets to the hottest events, 24/7 concierge, and 14 free visits to priority pass lounges per year.
  • Complete travel insurance coverage -This credit card gives the best travel medical and purchase protection and the longest extended warranty (2 years) among other credit cards.

The Scotiabank Platinum American Express® Card is definitely not your average Scotiabank card. This card has a high annual fee. However, the rewards are simply exceptional.

 

First of all, this card gives you 4 points of Scotia rewards for every $1 you spend on dining, entertainment, groceries and gas. Second, it offers you some exquisite travel privileges. Third, you get 30,000 points the moment you make your first purchase.

 

This card costs $399, with the supplementary cards each costing $99. The interest rate for this card is the regular one, with 19.99% for purchases and 22.99% for cash advances.

 

In terms of features, the Scotiabank Platinum American Express® Card offers you the following:

 

- Premium concierge services

- Priority pass when travelling and access to 600+ VIP lounges all across the globe

- Leverage the American Express Invites program to be the first one to discover unique events and experiences happening in your city

- Use your VIP pass to gain priority entrance at worldwide events

- Use the Scotia rewards advantage to enjoy new offers

- Capitalize on the Hertz club membership for improved services



Scotiabank®* Platinum American Express® Card is a premium credit card with exclusive benefits and 7 types of insurance coverage.

Aside from its high return rates, the Scotiabank®* Platinum American Express® Card provides an impressive list of purchase and travel insurance benefits that justifies the annual fee. The best credit card for insurance coverage in Canada, it provides peace of mind and comprehensive protection on the road and the longest extended warranty and purchase protection.

 

Scotiabank ® U.S. Dollar  VISA* Card
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Annual Fee: $35
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:

 

  • Low annual fee
  • Pay in U.S. dollars
  • Faster online checkout
  • Purchase protection
Recommended Credit Score:
670 900
Average to Excellent
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Pay fewer fees when it comes to foreign transaction and purchases made across the border with a US dollar credit card. And when it comes to these specialty credit cards, the Scotiabank US Dollar VISA stands out with no U.S. dollar conversion fees on top of purchase security, extended warranty and a 25% discount at participating Avis locations.

 

  • Low annual fee – While you have to pay a small amount of annual fee, the fee is significantly lower than other credit cards and is worth it if you usually make purchases in USD.
  • Pay in U.S. dollars – Save more on offline and online purchases. Aside from saving money from fluctuating currency conversion, you don’t have to pay the 2.5% foreign transaction fee that other credit cards charge.
  • Faster online checkout – Easy checkout and online purchases with Visa Checkout. This credit card is also eligible for Apple Pay and Android Pay.
  • Purchase protection – Purchases made with the credit card are eligible for an extended warranty of 1 year and purchase protection for 90 days.

Pay fewer fees when it comes to foreign transaction and purchases made across the border with a US dollar credit card. And when it comes to these specialty credit cards, the Scotiabank US Dollar VISA stands out with no U.S. dollar conversion fees on top of purchase security, extended warranty and a 25% discount at participating Avis locations.
Scotia Momentum for Business VISA
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Annual Fee: $49
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:
  • Low balance transfer rate
  • Invest back into your business
  • Organize financial statements
  • Protect what matters
  • Low annual fee
Recommended Credit Score:
670 900
Average to Excellent

The Scotiabank Momentum Business Visa helps business owners organize and track expenses with ease while rewarding them for everyday purchases. With up to 3% cash back and an introductory low balance transfer rate, this business credit card is ideal for startups with pre-existing debt and business owners looking to expand.

Why We Like It:

  • Low balance transfer rate For a limited time, new card holders get 2.99% interest rate on balance transfers for the first 6 months. This may be an enough time for businesses with pre-existing debt to clear out their balance.
  • Invest back into your business Earn 3% cash back on common spending including gas, office supplies, restaurants, and recurring bills.
  • Organize financial statements Easy tracking of business expenses with all spending consolidated in one monthly statement.
  • Protect what matters This credit card for business includes four types of travel and purchase insurance which are enough to protect your business as it grows.
  • Low annual fee The annual fee of $49 is lower compared to most business cash back credit cards in Canada.

The Scotiabank Momentum® for business Visa* Card is an appealing cashback card for business owners in Canada who want to get back as much as 3% for all of their purchases. This unique card comes with a $49 annual fee and 22.99% interest rate on cash advances, credit card cheques and balance transfers. However, that's pretty much the only negative aspect about it.

 

In terms of positive aspects, this card offers you up to $100k in credit limit, gives you supplementary cards, and a whopping 3% back on food, gas and other purchases. It also lets you benefit from a first-year annual fee waiver.

 

To get onboard, Scotiabank gives you a unique 6-month 2.99% rate which is perfect for balance transfers and paying off your debt. In terms of complimentary services, this credit card allows you to save when shopping thanks to the Visa SavingsEdge, better organize and track your business expenses, consolidate your debt, add unlimited employees for $29, and get many other perks.


Scotiabank Momentum® for business Visa* Card gives you up to $1 million travel insurance, $500 per flight delay, $500k as carrier insurance, $1,250 per lost baggage per group, and $1,000 in hotel/motel burglary.


The Scotiabank Momentum Business Visa helps business owners organize and track expenses with ease while rewarding them for everyday purchases. With up to 3% cash back and an introductory low balance transfer rate, this business credit card is ideal for startups with pre-existing debt and business owners looking to expand.
Scotiabank® GM®* Visa* Business Card
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Annual Fee: $79
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:
  • Specialized vehicle rewards program
  • No cash back limits and expiration dates
  • Purchase security and extended warranty
  • Attractive sign-up bonus
Recommended Credit Score:
670 900
Average to Excellent

With a car being an essential albeit expensive purchase for a growing business, the Scotiabank GM Business Visa comes in handy for the entrepreneur seeking to buy or lease a GM car in the near future. At the same time, it offers practical benefits for the pragmatic businessman, including rental car discounts and a decent shopper protection program for a small annual fee that you can waive on the 1st year.

Why We Like It:

  • Specialized vehicle rewards program Business purchases qualify for 5% GM cash back that you can use to purchase a new Chevrolet, Buick, GMC, or Cadillac. With $1 in GM cash back equal to $1 toward your next car purchase, getting a car is easier especially when combined with your own savings. This co-branded business credit card also gives access to GM Business Choice program to help prepare your new vehicle for work.
  • No cash back limits and expiration dates Enjoy your points and rewards as long as you keep the card. The 5% GM earnings is applicable on the 1st $10,000 spent annually, then it becomes 2% after.
  • Purchase security and extended warranty For a business credit card with low annual fee, the Scotiabank GM business Visa offers automatic insurance for eligible purchases worldwide against theft, loss or damage for 90 days.
  • Attractive sign-up bonus Balance transfers get a 2.99% introductory interest rate for the 1st six months. You also get to waive your annual fee on the first year , giving you more reason to check if this is the best business credit card for your needs.

With a car being an essential albeit expensive purchase for a growing business, the Scotiabank GM Business Visa comes in handy for the entrepreneur seeking to buy or lease a GM car in the near future. At the same time, it offers practical benefits for the pragmatic businessman, including rental car discounts and a decent shopper protection program for a small annual fee that you can waive on the 1st year.

Here are additional advantages that a small business credit card can offer your business to help it grow and be profitable.

Manage business expenses
Earn rewards for your business spend
Build credit for your business
Simplicity of recordkeeping and reporting, especially around tax time
Maintain control over spending
Scotia Momentum® Visa Infinite* Card
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Details
Annual Fee: $120
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: $60000
Why Apply:
  • Welcome bonus
  • No-nonsense rewards
  • Enhanced insurance package
Recommended Credit Score:
670 900
Average to Excellent
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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  No annual fee in the first year, including on supplementary cards.
  • 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 after the first year.

Excellent credit card with outstanding benefits and full insurance coverage.

The Scotia Momentum Visa Infinite card was the winner of the MoneySense best cashback card with a fee in 2020 - and for good reasons! Card holders earn cash back on all purchases at varying rates. There are also other perks of card ownership including access to exclusive Scotiabank events and offers, plus ample insurance coverage.

  • Special Welcome Offer. No annual fee in the first year, including on supplementary cards.
  • Tiered Cash Back Rates. Earn 4% cash back for every dollar spent on groceries and recurring bill payments. Earn 2% cash back for every dollar spent on gas and daily transit. Finally, earn 1% cash back for every dollar spent elsewhere.
  • Additional Perks. Obtain exclusive offers from Scotiabank including concierge service, competitive hotel rates and upgrades, and access to dining and wine country programs.
  • Insurance Coverage. Ample coverage comes with this credit card, such as new mobile device, trip cancellation, trip interruption, purchase protection insurance and much more.
  • Annual Fee. Gain access to all of the above perks at the cost of $120 after the first year.
L'earn™  Visa* Card
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Details
Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:

 

  • No annual fee
  • Increased cash back rewards with each spend
  • Faster payment
  • Car rental savings
Recommended Credit Score:
670 900
Average to Excellent
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Students who are serious in building their credit history may find the L'earn Visa Card to their liking. It has no annual fee, gives 1% cash back and has easy-approval requirements. While this student credit card has no bells and whistles in terms of rewards, the straightforward cash back structure offers enough rebates for you to save cash when you shop and delivers the advantages of a credit card minus the high-income requirement.

 

Why We Like It:

  • No annual fee - Get started in building your credit history at no cost.
  • Increased cash back rewards with each spend ? The tiered cash back structure lets you earn more rebates with more spending. Cash is automatically applied to your next upcoming bill and there is no limit to the amount of cash back you earn.
  • Faster payment - Perfect for on-the-go shopping, this credit card delivers Visa payWave convenience. Simply wave your card or use the app on the counter to pay for your purchase. This credit card is also compatible with Apple Pay, Android Pay, and My Mobile Wallet.
  • Car rental savings -Similar to the Scotia Value Visa, this credit card gives 20% discount on Avis rental cars.

Students who are serious in building their credit history may find the L?earn Visa Card to their liking. It has no annual fee, gives 1% cash back and has easy-approval requirements. While this student credit card has no bells and whistles in terms of rewards, the straightforward cash back structure offers enough rebates for you to save cash when you shop and delivers the advantages of a credit card minus the high-income requirement.

 
Scotia Momentum®   Mastercard®*
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Annual Fee: $0
Purchases Interest Rate: 20.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:
  • $0 annual fee
  • Cashback on four key areas
  • Peace of mind
Recommended Credit Score:
670 900
Average to Excellent
Apply Nowlock On Scotiabank's Secure Website

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:

  • $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.

The Scotia Momentum® Mastercard® * Credit Card is a standard card that gives you a 19.99% interest rate on purchases and 22.99% on cash advances. It comes with no annual fee and gives you back 1% on all purchases.

 

However, what sets this product apart from the market is the 7.99% introductory interest rate for 6 months

 

This card, despite being without any cost, gives you some great perks and benefits. Here are some of them below:

 

- Gain access to handpicked Mastercard experiences in Canada

- Get a free supplementary card for your spouse, friend or family members

- Enjoy 24-hour access to the Mastercard Global Services

- Be able to purchase from Costco wholesale

- Save up to 25% on car rentals

- Zero liability protection: you'll not be held responsible for unauthorized purchases made with your card

- Get optional protection in the event of hospitalization, disability, loss of employment or death


Overall, it is a great credit card with a low promotional rate of 7.99% on purchases for the first 6 months.
This no-fee cashback credit card also has solid features enough to make it ideal for people who want to build their credit.
Scotiabank Value® Visa* Card
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Annual Fee: $29
Purchases Interest Rate: 12.99%
Cash Advance Interest Rate: 12.99%
Min Income Requirement: Not Available
Why Apply:
  • Save on car rentals
  • Optional insurance coverage
  • Faster checkout
  • Free supplement card
Recommended Credit Score:
670 900
Average to Excellent
Apply Nowlock On Scotiabank's Secure Website

0.99% introductory interest rate on balance transfers for the first 6 months 

The Scotia Value Visa is aimed at individuals looking for a good balance transfer credit that offers decent privileges and a lower interest rate beyond the introductory promo period. Although it comes with a minimal fee, customers who cannot pay their balance in full can take advantage of the low post-promotional rate of 12.99%. Plus, if you regularly rent cars from Avis, then you might get the best value out of this card.

 

Why We Like It:

  • Save on car rentals -Save up to 25% when you use the Scotia Value Visa to book your rental cars with AVIS and other budget rental car locations in Canada.
  • Optional insurance coverage - For a small fee, depending on the remaining balance on your credit card, you can receive financial protection from a range of life events such as job loss, disability, critical illness, and loss of life.
  • Faster checkout -The payWave feature helps you save time by allowing you to simply wave the card or use the app on your mobile phone to pay for small purchases.
  • Free supplement card - Get an additional supplementary cardholder at no extra charge.

Coming with an annual fee of $29 and a very good interest rate of 12.99% for both purchases and cash advances, the Scotiabank Value® Visa* Card is one of the best credit cards you can find on the market if you're keen on paying a low interest.

 

This card from Scotiabank comes with an amazing introductory offer of 0.99% for balance transfers. Basically, during the first 6 months, you can consolidate your debt and save hundreds of dollars on interest.

 

The only requirement to access this card is a minimum income of $12,000 a year, which is quite low. Most Canadians can get this card with ease. Once you get it, you'll be able to capitalize on certain perks.

 

First, you can pay an interest rate on balance transfers and cash advances of just 0.99% for the first 6 months. This means the rest of the year. This is one of the most attractive offers you can get in 2021. Second, you can get a free supplementary card for one of your family members or close friends.

 

Lastly, this card allows you to save 25% on car rentals, get optional protection and pay quickly at the checkout using the Visa app.



The Scotia Value Visa is aimed at individuals looking for a good balance transfer credit that offers decent privileges and a lower interest rate beyond the introductory promo period. Although it comes with a minimal fee, customers who cannot pay their balance in full can take advantage of the low post-promotional rate of 12.99%. Plus, if you regularly rent cars from Avis, then you might get the best value out of this card.

Scotiabank Credit Cards FAQ's


How to get a credit card at Scotiabank?


The best way to get a Scotiabank credit card is to either apply online or at branch. The first step would be to review the credit card options available and choose one that meet your needs. You can review our article on the top Scotiabank credit card by category

If you visit the branch, please bring the following items with your completed application.

  • Last 3 months pay slips or job letter
  • If self-employed, 6 months of bank statements, receipts or invoices, and last 2 years of tax returns and financial statements (if available)
  • Two of the following pieces of identification: passport, driver’s license, or ID card
  • Two of the following utility bills: telephone (excluding mobile phone bills), electricity.
  • Confirmation of existing loans, credit card debt, disclosed assets and savings

 

Does Scotiabank have secured credit card?


The Scotiabank does not have a secure credit card. One great option for a secure credit card is Refresh Financial, read our review here.

 

What is minimum payment due in credit card Scotiabank? 

The minimum payment due for Scotiabank credit card is 3% of your outstanding balance. Please review your online banking account or credit card statement to confirm the amount and payment due date.

 

Can you go over your credit card limit Scotiabank?

First and foremost, it is not recommended to go over your credit limit since it could impact your credit card utilization rate and your credit score.

If you go over your credit limit, there are 2 potential scenarios:

  • Your credit card issuer might just decline the transaction.
  • Some credit card issuers may approve the transactions that exceed your credit limit, however they usually charge an over-limit fee of up to $30 the first time you go over your limit and the same or more if you do it again.

Perhaps it might be worth applying for a credit limit increase.

If you would like to submit a request to increase to your credit limit, you have three options:

  • Online: Log in to your Scotia OnLine® account to make your request
  • By Phone: 1-800-367-6466 for (Canada/USA)
  • In person at your Scotiabank branch

Author Bio

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Mohamed Konate

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.