Scotia Momentum® No-Fee Visa* Card Review
Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, get a 2.99% introductory interest rate on purchases and balance transfers for the first 6 months (19.99% on purchases/22.99% on cash advances including balance transfers after that; annual fee $0).
Great reasons to get this card for your everyday purchases
Recurring Bill Payments
Plus earn 0.5% cash back on all other eligible purchases.
- Priority airport services No
- Airport lounge access No
- Concierge service No
- Balance protection(Optional) Yes
- Purchase Security & Extended Protection Insurance NO
- Flight delay insurance,Baggage Insurance No
- Vehicule rental insurance No
- Travel accident insurance No
- Travel medical insurance No
- Annual Fee: $0
- Additional Card Fee: $0
- Purchases Interest Rate: 19.99%
- 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 No-Fee Visa 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 No-Fee Visa card.
Tap your Scotia Momentum No-Fee Visa* Card or your smartphone for quick easy payments.
Add an additional Supplementary Cardholder to your Scotia Momentum? No-Fee Visa* Card Account. One account, multiple cards. Added benefits! Get an additional card for a friend or family member.
The Scotia Momentum® No-Fee Visa* Card is a convenient card that can be accessed by anyone, even by new residents of Canada who have no credit history. This no-fee card gives you some amazing offers, Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, get a 2.99% introductory interest rate on balance transfers for the first 6 months. After this initial period, you'll pay around 22.99% interest.
This card gives you 1% on all eligible purchases, including groceries, gas, bill payments and drugs. The minimum credit limit is $500, so you can quickly request $1,000 in the first month and only pay back $79 in interest.
This card from Scotiabank is an excellent addition to any Canadian resident who wants a steady rate on their regular purchases without having to pay an annual fee. You can earn cashback effortlessly on hydro, phone payments or monthly rent.
Of course, you can also use the Scotia Momentum® No-Fee Visa* Card to save up to 25% on car rentals. Order a supplementary card for free and enable your spouse or partner to save their own 1% when going to the store, when travelling by car or when paying the monthly bills.
You will earn 1% cash back on your annual spend on gas station, grocery store and drug store purchases and on recurring payments. 1% cash back applies at merchants which are classified in the Visa Inc. (Visa) network as Grocery Stores & Supermarkets, Drug Stores & Pharmacies, Service Stations (with or without ancillary services), Automated Fuel Dispensers and Recurring Payments (Merchant Codes: 5411, 5541, 5542 & 5912). Recurring payments are defined as payments made on a monthly or regular basis automatically billed by the merchant to your Scotia Momentum No-Fee Visa card. Recurring payments are typically telecommunication, insurance, membership, subscriptions etc. purchases. Not all merchants offer recurring payments. (Please check with your merchant to see if they offer recurring payments on Visa cards.) Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by Visa in another manner, in which case this added benefit would not apply. You will earn 0.5% cash back on all other eligible purchases made with the card. Purchase returns, payments, cash advances, balance transfers, Scotia® Credit Card Cheques, credit vouchers, card fees, interest charges or service/transaction charges do not qualify for cash back.
Offer Description and Conditions: The 5% Cash Back and Introductory 2.99% Interest Rate Offer (the “Offer”) applies only to new Scotia Momentum No-Fee Visa credit card accounts (“Accounts”) that are opened by February 28, 2022 and is subject to the below terms and conditions. All other terms and conditions of the Program Terms continue to apply. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
5% Cash Back Offer Conditions: You will earn 5% cash back on the first $2,000 in eligible purchases you spend on your new Account within the first 3 months of the Account open date (the “Promotional Period”). 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. After the Promotional Period, you will earn regular cash back on eligible purchases at the regular cash back rate (the “Cash Back Program Rate”) described in the Scotia Momentum No-Fee Visa Cash Back Program Terms and Conditions (the “Program Terms”). The 5% cash back rate for any category is made up of the sum of: (i) the regular Cash Back Program Rate (variable by categories as set out under the Program Terms); and (ii) a “Cash Back Bonus Rate”.
Cash back earned under this Offer will be credited to your Account in 2 instalments so long as your Account is open and in good standing at time of payout of each:
1. Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within 7 months from the Account open date; and
2. Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under the Program Terms.
The Account is considered in good standing if it is not past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.
EXAMPLE: If the Regular Cash Back Program Rate for the Groceries and Recurring Payments category is 1% then the Cash Back Bonus Rate will be 4% for that category so that you will earn a total of 5% on the amount of all eligible everyday purchases in that category during the Promotional Period. If you make $2,000 in eligible everyday purchases in the Groceries and Recurring Payments category, your cash back earnings will be credited to your Account as follows:
(1) the Cash Back Bonus earnings of $80 (4% x $2,000) (which will not be tracked on your monthly statements), will be credited to your Account within 7 months from the Account open date, and
(2) the Regular Cash Back earnings of $20 (1% x $2,000) (which will be tracked on your monthly statements), will be credited to your Account as per the regular cash back payment schedule (i.e., November).
Introductory 2.99% Interest Rate Offer Description and Conditions: The Introductory 2.99% Rate Offer (the “Rate Offer”) applies only to purchases, cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) (collectively “Cash Advances”) subject to the conditions below. This introductory rate applies when the new Account is opened by February 28, 2022 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 2.99% (including any unpaid balances) will increase to the preferred interest rate for purchases (currently 19.99%) and the promotional 2.99% interest rate on any Cash Advances (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 22.99%). 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 25.99% 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 interest, fees or other charges. This Rate Offer is subject to any available limit for Cash Advances on your Account. This Rate Offer cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank Account. There is no balance transfer fee on balances transferred during the Promotional Period.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer.
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. All rates, fees, features and benefits are subject to change.
The savings of up to 25% applies to Avis and Budget base rates and is applicable only to the time and mileage charges of the rental. All taxes, fees (including but not limited Air Conditioning Excise Recovery Fee, Concession Recovery Fee, Vehicle License Recovery Fee, Energy Recovery Fee, Tire Management Fee, and Frequent Traveler Fee) and surcharges (including but not limited to Customer Facility Charge and Environmental Fee Recovery Charge) are extra. The Bank of Nova Scotia is not responsible for, and provides no representations, warranties or conditions regarding this offer or any Avis or Budget products or services, including Avis Preferred Plus membership and services and those obtained under this offer, which are governed solely by Avis’ terms and conditions. Avis Preferred Plus membership and services are provided by Avis.
The Primary Cardholder on the Scotiabank Momentum Visa Card Account (the “Account”) is responsible for all charges to the Account including those made by the additional Supplementary Cardholder.
All Scotiabank retail credit cards, except ScotiaLine Visa card, Scotiabank Value Visa card, and No-Fee Scotiabank Value Visa card, will have Visa payWave when issued or reissued. Visa payWave™ is a Trademark of Visa Int./Lic. User.
Apple Pay works with iPhone 6 and later in stores, apps, and websites in Safari; with Apple Watch in stores and apps; with iPad Pro, iPad Air 2, and iPad mini 3 and later in apps and websites; and with Mac in Safari with an Apple Pay enabled iPhone 6 or later or Apple Watch. For a list of compatible Apple Pay devices, see https://support.apple.com/km207105
Click to Pay is an online checkout solution provided by a third party that supports American Express, Mastercard and Visa cards and is based on EMV® SRC Specifications. The Bank of Nova Scotia is not responsible for this service.
Scotia Credit Card Protection is underwritten by Chubb Life Insurance Company of Canada under a Group Policy issued to The Bank of Nova Scotia. All coverage is subject to the terms and conditions outlined in the Certificate of Insurance which you will receive upon enrolment.
Scotia SelectPay Conditions apply. Review Terms and Conditions for full details or visit scotiabank.com/selectpay to learn more.
Trademark of The Bank of Nova Scotia.
Registered Trademark of The Bank of Nova Scotia
Visa Int. / Lic. User.