Scotia Momentum® Mastercard®* Credit Card vs Scotia Momentum® Visa* Card: Which one is better?
Scotia Momentum® Mastercard®* Credit Card
3
Scotia Momentum® Visa* Card
3.1
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
$315.05
First Year Bonus Value
$0
Annual Fee
$39
First Year Value
$276.05
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
N/A
Insurance Included*
Extended Warranty
1 year
Purchase Protection
90 days
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*
$39
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*
Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)
Rewards Rate*
- 1% cashback on gas, groceries, drug store and recurring payments
- 0.5% cashback on all other credit card purchases.
Rewards Rate*
- 2% cashback on gas, groceries, drug store and recurring payments (maximum $500 annually)
- 1% cashback on all other credit card purchases.
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 Visa is a low annual fee cash back card that offers impressive earn rates on a variety of everyday spending categories, making it an excellent choice for those who want to maximize rewards without the higher cost of its Visa Infinite counterpart.
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
- Cash Back Rewards: Earn up to 2% cash back on purchases.
- Low Balance Transfer Rate: Benefit from a 2.99% rate on balance transfers for the first 6 months.
- No Welcome Bonus: No initial sign-up bonus, keeping things straightforward.
Cons
- Poor base earn rate of 0.5% on other purchases.
- No insurance coverage, not even purchase protection.
Cons
- Limited Insurance Coverage: Only basic insurance is included.
- Annual Rewards Payout: Cash back rewards are paid out once a year as a statement credit.
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