Scotia Momentum® Mastercard®* Credit Card vs Scotia Momentum® No-Fee Visa* Card: Which one is better?
Scotia Momentum® Mastercard®* Credit Card
3
Scotia Momentum® No-Fee Visa* Card
2.9
Finly Rebate
N/A
Finly Rebate
Rewards Breakdown
Annual Rewards
$168.07
First Year Bonus Value
$0
Annual Fee
$0
First Year Value
$168.07
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$157.53
First Year Bonus Value
$100
Annual Fee
$0
First Year Value
$257.53
$157.53 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
N/A
Insurance Included*
N/A
Extra Benefits*
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Extra Benefits*
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates*
Purchase:
19.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Annual Fee*
$0
Annual Fee*
$0
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
$12,000
Min Household Income:
N/A
Welcome Bonus*
7.99% introductory interest rate on purchases for the first 6 months (20.99% after that; annual fee $0)
Welcome Bonus*
Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, get a 0% introductory interest rate on balance transfers for the first 6 months (2% fee per cash advance, 22.99% after that; annual fee $0)
Rewards Rate*
- 1% cashback on gas, groceries, drug store and recurring payments
- 0.5% cashback on all other credit card purchases.
Rewards Rate*
- 1% cash back on gas, groceries, drug store and recurring payments
- 0.5% cash back on all other credit card purchases (unlimited).
Is this card worth it?
The Scotiabank Momentum Mastercard stands out as a solid no-fee option for those looking to earn cash back on everyday categories like gas and groceries. With 1% cash back in key spending categories and wide acceptance, it’s a practical card to keep in your wallet, especially if you're a regular Costco shopper. While it lacks insurance coverage, the absence of an annual fee and the consistent cash back on essentials make it a good entry-level card for budget-conscious users.
Is this card worth it?
The Scotiabank Momentum® No-Fee Visa* Card is ideal for those seeking a straightforward, entry-level credit card to build their credit while earning modest cash back on everyday purchases like groceries, gas, and bills. With no annual fee, a competitive balance transfer offer, and a high spending cap, it's a practical choice for young adults or newcomers who want to earn rewards without the complexities of more premium cards.
Pros
- No annual fee, making it a low-cost option for cardholders.
- 1% cash back on gas, groceries, drugstores, and recurring bill payments.
- Mastercard acceptance, including at Costco.
Pros
- No Annual Fee: Enjoy cash back rewards without any annual cost.
- Welcome Offer: Get 5% cash back on purchases for the first three months (up to $100).
- Cash Back Rewards: Earn up to 1% cash back in select categories.
Cons
- Poor base earn rate of 0.5% on other purchases.
- No insurance coverage, not even purchase protection.
Cons
- Lower Earn Rate: Offers a below-average cash back rate compared to other cards.
- Annual Redemption: Cash back can only be redeemed once per year.
- Lacks Insurance Coverage: No travel or consumer insurance, including purchase protection and extended warranty.
vs Scotiabank Gold American Express® Card
vs Scotiabank American Express® Card
vs Scotiabank® Scene+ Visa Card
vs Scotiabank Passport® Visa Infinite* Card
vs Scotia Momentum® Visa* Card
vs Scotia Momentum® Visa Infinite* Card
vs Scotiabank Platinum American Express® Card
vs Scotiabank Passport® Visa Infinite* Privilege Card
vs Scotiabank Value® Visa* Card
vs Scotiabank Gold American Express® Card
vs Scotiabank American Express® Card
vs Scotiabank® Scene+ Visa Card
vs Scotiabank Passport® Visa Infinite* Card
vs Scotia Momentum® Visa* Card
vs Scotia Momentum® Visa Infinite* Card
vs Scotiabank Platinum American Express® Card
vs Scotiabank Passport® Visa Infinite* Privilege Card
vs Scotiabank Value® Visa* Card
Legal