Amex Business Gold vs Scotia Momentum Business Visa

¹ Offer Description and Conditions: The 5% Cash Back and Introductory 2.99% Balance Transfer Rate Offer (the “Offer”) applies only to new Scotia Momentum® for business Visa* Card accounts (“Accounts”) that are opened, and any additional cards on the Account issued, between May 1, 2026 and October 31, 2026 (regardless of the date you apply for the Account) subject to the conditions below. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.

Offer Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank business credit card in the past 2 years, including those that switch from an existing Scotiabank business credit card, are not eligible for the Offer. Subject to the above exclusions, Scotiabank personal credit cardholders are also eligible for the Offer. By accepting this Offer you confirm you meet all Offer eligibility requirements. We reserve the right to revoke this Offer at any time if we determine you do not meet the Offer eligibility requirements, including after you have accepted the Offer or been approved for the Account.   

5% Cash Back Offer Description and Conditions: You will earn 5% cash back on the first $6,500 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 and 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® for business 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 installments so long as your Account is open and in good standing at time of payout of each: Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within approximately 7 months from the Account open date; and

1. Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the redemption terms 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 shipping/accounting services category is 2% then the Cash Back Bonus Rate will be 3% 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 2% Cash Back category, your cash back earnings will be credited to your Account as follows:

1. the Cash Back Bonus earnings of $60 (3% x $2,000) will be applied to your Account within approximately 7 months from the Account open date if you have met the Cash Back Bonus conditions and then available for redemption (min $25) as per the Program terms applicable to your Account, and 
2. the Regular Cash Back earnings of $40 (2% x $2,000), will be applied to your Account and available for redemption (min $25) as per the Program terms applicable to your Account.

All other terms and conditions of the Program Terms continue to apply during the Promotional Period.

Introductory 2.99% Balance Transfer Rate Offer Description and Conditions: The Introductory 2.99% Balance Transfer Rate Offer (the “BT Rate Offer”) applies only to eligible balance transfers, subject to the conditions below. This introductory rate applies for 6 months from date of Account opening (the “Promo Rate Period”). After the Promo Rate Period, the introductory 2.99% interest rate on any balance transfers made during the Promo Rate Period will increase to the preferred interest rate on cash advances (currently 22.99%). There is no balance transfer fee applicable to balance transfers made during the Promo Rate Period.  This BT Rate Offer is subject to the approved credit limit on your Account as of the date of this BT Rate Offer. This means if a balance transfer amount(s) requested exceeds your approved credit limit as of the date this BT Rate Offer was provided to you, it may not be processed. This BT Rate Offer cannot be used for any Scotiabank account including to transfer a balance from another Scotiabank account, or to make a payment or deposit to another Scotiabank account.  All other terms and conditions of the Program Terms continue to apply during the Promo Rate Period.

Losing your promotional rate: If we don’t receive the minimum payment on your Account by the payment due date on your statement, two consecutive times, you will lose the benefit of this promotional BT 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).   

How we apply payments: Your payment cannot be applied to the balance(s) of your choice: 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. See your credit card agreement for more information about how we apply payments to your Account.

Rates and Fees: The current annual fee is $79 for the primary card and $29 for each additional card (including those issued to co-borrowers and supplementary cardholders). The current preferred annual interest rates for the Account are: 20.99% on purchases and 22.99% on Cash Advances. 

All rates, fees, features, and benefits are outlined in the Welcome Kit you will receive if approved and are subject to change.

² 3% CASH BACK EARN RATE: You will earn 3% Cash Back on eligible purchases on your account at gas stations, electrical vehicle (EV) charging, restaurants, office supply stores, and on recurring bill payments. 3% Cash Back applies at merchants that are classified in the payment network associated with your account as: service stations (with or without ancillary services) and automated fuel dispensers; restaurants, fast food restaurants and bars; stationery and office supply stores; and recurring payments (Merchant Classification Codes (“MCC”): 5541, 5552 & 5542; 5812, 5813 & 5814; and 5111 & 5943). Recurring payments are defined as payments made on a monthly or regular basis automatically billed by the merchant to your account. Recurring payments typically include telecommunication, insurance, memberships, and subscription-based purchases. Not all merchants offer recurring payments. Please contact your merchant to confirm whether they offer recurring credit card payments. 2% CASH BACK EARN RATE: You will earn 2% Cash Back on eligible purchases on your account for shipping and accounting or bookkeeping services. 2% Cash Back applies at merchants which are classified in the payment network as shipping (MCC: 4214 and 4215) and accounting or bookkeeping services (MCC 8931). ANNUAL SPEND LIMIT ON 3% AND 2% EARN RATE CATEGORIES (the “Accelerated Earn Rates”): The combined Cash Back that can be earned on eligible purchases under the 3% and 2% earn rate categories (the Accelerated Earn Rates) will be capped at $40,000 in purchases annually. See “ANNUAL SPEND LIMITS” for more information. 1% CASH BACK EARN RATE (the “Regular Earn Rate”): You will earn 1% Cash Back on eligible Purchases made on your Account after you have reached the combined annual spend limit of $40,000 on the 3% and 2% earn categories (the “Overflow”) and on all other eligible Purchases made with the Account. ANNUAL SPEND LIMITS: There are annual limits on the Cash Back you can earn at Accelerated Earn Rates, as outlined in these Cash Back Program Terms (scotiabank.com/ terms/momentumbusiness). These limits are based on purchases posted to your account annually, calculated from the first day of the statement period of the month your account was opened (“Account opening date”). The annual spend limit resets every 12 months from the statement period of the month of your Account opening date. Once you reach the annual spend limit for any Accelerated Earn Rate(s), you will continue to earn Cash Back at the Regular Earn Rate.

³ Account must be open and in good standing to earn and redeem Cash Back. You must have earned a minimum of $25 Cash Back to be able to redeem. Only primary cardholders can redeem. Supplementary cardholders are not eligible to redeem Cash Back. Cash Back will be credited to the primary cardholder’s account within 3- 5 days from the day the redemption request is made. Cash Back will be displayed and available for redemption (after monthly calculation) and posted in the next statement cycle after such calculation has been completed by us. Cash Back will continue to accrue until redemption is made. There is no limit to Cash Back that can be earned. For complete details on how to redeem Cash Back, please see the “Cash Back Program Terms and Conditions” at Scotiabank.com/ terms/momentumbusiness.

⁵ Visa SavingsEdge is an automated discount program offered by Visa Canada Corporation ('Visa Canada') to eligible businesses and their authorized cardholders that hold an eligible Visa Business card and whose enrolment in the program is accepted by Visa. Under the program, cardholders can receive discounts from participating merchants each time the cardholder uses an enroled Visa Business card to make qualifying purchases of goods or services pursuant to an active discount offered by the merchant and that transaction is processed or submitted through the Visa payment system. Discounts provided will appear as credits on future credit card statements 8-10 weeks after purchase date. Visa Canada, not Scotiabank, is responsible for the Program. For details, visit www.visasavingsedge.ca. The following Scotiabank VISA Business cards are eligible for this program: Scotia Momentum for business Visa* card, Scotia Gold Passport for business Visa* card, ScotiaLine for business Visa* Card and Scotiabank Visa* Business Card.

See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.