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Scotia Momentum Cash Back Credit Card Review

Scotia Momentum Cash Back Credit Card Review

Cash back credit cards are awesome. They provide useful rewards (cash!) that don’t require a lot of work to use. Unlike other credit cards with rewards points a cash back card can be a great choice for anyone who doesn’t travel or won’t likely use their rewards points often.

This cash back credit card from Scotiabank is called the Scotia Momentum cash back credit card. This credit card is from Visa and actually comes in three different versions…

  • Scotia Momentum Visa Infinite
  • Scotia Momentum Visa
  • Scotia Momentum No-Fee Visa

In this post I’ll be reviewing the middle of the road Scotia Momentum® VISA. In my opinion this one provides the best value for those that use their credit card for most purchases.

If you spend over $650/month on your credit card then you want to go with the Scotia Momentum Visa over the no-fee version. At this level of spending the 1% cash back will pay an extra $39 per year more than the 0.5% on the no-fee version. This will completely cover your annual fee.

If you spend +$650/month then you’ll want to go for the Scotia Momentum and pay the $39 annual fee.

The Details:

  • Annual Fee: $39
  • Supplemental Cards: $15
  • Interest Rate (Purchases): 19.99%
  • Cash Advance Rate: 22.99%


This card gives you cash back of 1% on all purchases. The nice thing is that unlike other credit cards you earn this rate right from the first dollar you spend. Some other credit cards only start paying the 1% after you make a few thousand in purchases. Luckily the Scotia Momentum Visa card starts to pay 1% right from the start.

The other positive with this card is that it pays extra on certain categories. The cash back jumps up to 2% for any eligible spending in the following areas…

  • Gas station
  • Grocery store
  • Drug store purchases
  • Recurring payments

The 2% on recurring payments is a good one. A recurring payment is defined as…

Payments made on a monthly or regular basis automatically billed by the merchant to your Scotia Momentum VISA card. Recurring payments are typically telecommunication, insurance, membership, subscriptions etc. purchases.

This bonus 2% cash back maxes out after you hit $25,000 in annual spending within these categories. This is not really a concern for most people.

Welcome Bonus:

No welcome bonus available.

Travel Benefits:

The Scotia Momentum Cash Back Visa comes with only one basic travel benefit. This card gets you a 20% discount on any Avis car rentals world wide. Just simply show the Scotia Momentum at any Avis location to receive the discount.

For more details on this benefit visit the Scotia Momentum page on the Scotiabank website.

Scotia Momentum Visa

Final Thoughts:

The Scotia Momentum Cash Back Visa card is pretty good in terms of its cash back rewards. Any Scotiabank customer would be well served by this card. The cash back rates of 1% and 2% on special purchases are equal to the Best Cashback Card we’ve reviewed on the site. There are even a few extra categories in the “special purchases” category with this Scotia Momentum card. The only main difference is the annual fee of $39 (and even this is rather small in terms of credit card fees).

Overall the Scotia Momentum® VISA is a pretty solid cash back credit card.

Do you have this cash back card? What do you think of it? Make a comment to let us know.

Check Out The Best Credit Cards In Canada!

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