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
Make everyday purchases quickly and safely with just a tap of your contactless-enabled Mastercard or device
- Priority airport services No
- Airport lounge access No
- Concierge service No
- Balance protection(Optional) No
- Purchase Security & Extended Protection Insurance NO
- Flight delay insurance,Baggage Insurance No
- Vehicle rental insurance No
- Travel accident insurance No
- Travel medical insurance No
- Annual Fee: $0
- Additional Card Fee: $0
- Purchases Interest Rate: 20.99%
- Cash Advance Interest Rate: 22.99%
- You're a Canadian resident
- You've reached the age of majority in your province or territory
Save on Car rentals
As a Scotia Momentum Mastercard Cardholder, you can save up to 25% off base rates at participating AVIS locations and at participating Budget locations in Canada and the U.S. when you pay with your Scotia Momentum Mastercard Credit Card.
Get Access to Exciting Experiences with Mastercard
As a Scotia Momentum Mastercard Credit Card cardholder, your card gives you access to handpicked experiences from Mastercard in cities around the world.
Mastercard is the only credit card accepted at Costco warehouses in Canada.
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.
Offer Description and Conditions: The introductory 7.99% interest rate applies only to eligible purchases subject to the conditions below (the “Offer”). This rate applies when the new Scotiabank credit card account (“Account”) is opened by March 1, 2020 and will continue for 6 months from date of Account opening (the “Promotional Period”). After the Promotional Period, purchase balances at the promotional rate of 7.99% (including any unpaid balances) will increase to the preferred interest rate for purchases (currently 19.99%). If you don’t pay the minimum payment on your Account by the payment due date on your statement, two times in any consecutive 12-month period, you will lose the benefit of this promotional rate Offer and the interest rates that apply on any unpaid balance will increase to the standard annual interest rates that apply to your Account (currently 24.99% on purchases and 27.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions)). Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges.
Payment Allocation: In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.
Rates and Fees: There is currently no annual fee for the primary card and no fee for each additional supplementary card.
The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions).
All rates, fees, features and benefits are subject to change. Offer may be changed, cancelled or extended and cannot be combined with any other offers.