Scotia Momentum® No-Fee Visa* Card vs Scotiabank Value® Visa* Card: Which one is better?
Scotia Momentum® No-Fee Visa* Card
2.9
Scotiabank Value® Visa* Card
5
Finly Rebate
Finly Rebate
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.
Rewards Breakdown
N/A
Insurance Included*
N/A
Insurance Included*
Balance Protection
optional
Extra Benefits*
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Extra Benefits*
Car Rental Discount
Avis car rental discount up to 25% worldwide
Interest Rates*
Purchase:
19.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates*
Purchase:
13.99%2
Cash Advance:
13.99%2
Balance Transfer:
13.99%2
Annual Fee*
$0
Annual Fee*
$29
$0
First Year Waived
Income Required*
Min Personal Income:
$12,000
Min Household Income:
N/A
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
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)
Welcome Bonus*
0.99% introductory interest rate on balance transfers for the first 9 months (2% fee per cash advance, 13.99% after that; annual fee $29). Plus no annual fee in the first year.
Rewards Rate*
- 1% cash back on gas, groceries, drug store and recurring payments
- 0.5% cash back on all other credit card purchases (unlimited).
Rewards Rate*
This card does not earn rewards on purchases but instead offers much lower interest rates.
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.
Is this card worth it?
This is a great card for those who carry a balance every month and want to take advantage of much lower interest rates compared to most other cards. It also comes with a great introductory balance transfer rate for a limited number of months.
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.
Pros
- A great low introductory interest rate on balance transfers
- Only 13.99% interest rate on purchases, balance transfers, and cash advances.
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.
Cons
- No rewards on daily purchases
- Limited insurance
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