Scotia Momentum Visa Card Review: An Accessible Consideration

Item: Scotia Momentum® Visa* Card
Rating: 3.1
Author: Sara Skodak

The Scotia Momentum Visa Card is a solid contender for everyday optimization. That said, there are similar credit cards on the Canadian market for no annual fee that may be worth considering.

Feb 20, 2026 2:29 PM

Written By

Sara Skodak

Lead Writer

Edited By

Abid Salahi

Credit Card Expert

The Bottom Line

Since you can get similar rewards, better coverage, and more perks with similar no-fee contenders, it's best to consider all of your options before applying for the Scotia Momentum Visa Card. Just look out for income requirements while doing so.

Skip to: Detailed Review

Scotia Momentum® Visa* Card

3.1

Finly Rating

APPLY NOW

on Scotiabank's website

$60 Cash Rebate From FinlyWealth + 2.99% introductory interest rate on balance transfers up to 6 months

Welcome Bonus

2.99% introductory interest rate on balance transfers up to 6 months

Rewards Rate

1% - 2%

Cash Back

Annual Fee

$39

Interest Rates

19.99% / 22.99%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Get your free credit score

Card Details

Rewards

2% cash back on gas, groceries, transit, rideshare, food delivery, drug store and recurring payments (maximum $500 annually)
1% cashback on all other credit card purchases.

Insurance

Coverage

Extended Warranty
1 year
Purchase Protection
90 days

Benefits

Details

Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car

Eligibility

Credit Score
Good
Annual Income
$12,000 personal

^*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. Check here for full details and current product information.

Card Details

Interest Rates

Purchase APR

19.99%

Cash Advance APR

22.99%

Balance Transfer APR

22.99%

Promotional Balance Transfer Rate

Promotional Rate

2.99%

Promotional Period

6 months

Transfer Fee

Fees

Annual Fee

$39

Additional Cards

$15

Eligibility

Minimum Individual Income

$12,000

Minimum Household Income

N/A

Credit Score Estimate

Good

Type

Card Type

Credit

Reward Type

Cash Back

Pros & Cons

Pros

Decent optimization
Low balance transfer rate
Low annual fee
Car rental discounts

Cons

Limited insurance
Annual redemption

Our Detailed Review

How You Earn Rewards with the Scotia Momentum Visa Card

To collect cashback using your Scotia Momentum Visa Card, simply purchase gas, groceries, drug store products, and make recurring payments using your card.

By doing so, you’ll receive:

2% cashback on gas, groceries, drug store, and recurring payments (maximum $500 annually)
1% cashback on all other credit card purchases

How You Redeem Rewards with the Scotia Momentum Visa Card

With the Scotia Momentum Visa Card, you can redeem your earned cashback towards a statement credit or deposit it into a Scotiabank account at any time, as long as you’ve accumulated a value of at least $25.

Redemptions can be made via the Scotia mobile app or online banking.

Compare to Similar Cards

Comparison to Other Low-Fee Cashback Credit Cards

Before you make a final decision, we’re going to compare the Scotia Momentum Visa Card against other top low-fee and no-fee contenders.

Here’s a sneak peek of the comparisons we’ll be making:

	Scotia Momentum® Visa* Card	Tangerine Money-Back Mastercard	Neo World Mastercard®	MBNA Smart Cash® World Mastercard®	CIBC Dividend Platinum® Visa* Card
Welcome Bonus	2.99% introductory interest rate on balance transfers up to 6 months	10% Cash Back (up to $100 value) + 1.95% balance transfer promo rate for 6 months	N/A	Up to 5% cash back††	Earn up to $400 in value†
Earn Rates	2% cash back on gas, groceries, transit, rideshare, food delivery, drug store and recurring payments (maximum $500 annually) 1% cashback on all other credit card purchases.	2% Money-Back Rewards on your choice of two categories from the 13 offered by Tangerine (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reccurring Bill Payments, Home Improvement, Public Transportation and Parking and more). Change them up every 90 days to match your spending habits. Have your Money-Back Rewards deposited into a Tangerine Savings Account and get a third 2% Money-Back Category. 0.5% cashback on all other credit card purchases.	2% cash back on grocery purchases up to $1,000 spending per month 2% cash back on gas purchases up to $1,000 spending per month 2% cash back on recurring purchases up to $500 spending per month 0.5% cash back on all other purchases up to $2,500 spending per month Up to 15% cash back at Neo Partners	Get 2% Cash Back^‡ on eligible gas and grocery purchases (until the total gas and grocery purchases in the applicable month reaches $500) Get 1% Cash Back^‡ for all other eligible purchases	3% cashback on gas and groceries if they are in the first $80K transactions of the year and $20K of categorical spends 2% cashback on transportation, dining and recurring bills if they are in the first $80K transactions of the year and $20K of categorical spends 1% cashback on all other eligible card purchases
Insurance Included	2 types Extended Warranty 1 year Purchase Protection 90 days	2 types Purchase Protection 90 days Extended Warranty Up to a year	2 types Purchase Protection 90 days Extended Warranty 1 year	7 types Purchase Protection Up to 90 days Price Protection $500/item, $1,000/year Extended Warranty Up to a year Car Rental Damage & Theft Up to 31 days Car Rental Accident $200,000 Car Rental Personal Effects $1,000/person, $2,000/occurence Common Carrier Travel Accident Insurance $1,000,000	4 types Car Rental Damage & Theft yes Common Carrier Travel Accident Insurance $500,000 Purchase Protection 90 days Extended Warranty Up to a year
Benefits	1 benefit Car Rental Discount 25% off base rate of Avis Rent A Car and Budget Rent A Car	None	None	2 benefits Car Rental Discount 10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally Trip and legal Assistance Support for emergency cash transfer, lost document and ticket replacement, lost baggage assistance, pre-trip information and legal assistance while traveling	2 benefits Gas Discount save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations Car Rental Discount Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.
Annual Fee	$39	$0	$0	$39	$99 (First Year Rebated)
Income Requirements	$12,000 personal	$12,000 personal	$50,000 personal or $80,000 household	$50,000 personal or $80,000 household	$15,000 household
Apply Now	APPLY NOW	APPLY NOW	APPLY NOW	APPLY NOW	Learn More

Scotia Momentum Visa Card vs Tangerine Money-Back Mastercard

For the option to earn cashback on gas, groceries, recurring bill payments, and/or drugstore purchases, you can also opt for the Tangerine Money-Back World Mastercard, one of the best no-fee credit cards in Canada. This card will allow you to pick two of the above categories out of the 13 offered by Tangerine, plus a third when you deposit your rewards into a Tangerine Savings Account.

Verdict: With the Tangerine Money-Back World Mastercard, you can easily optimize 2-3 of the earn categories offered by the Scotia Momentum Visa Card for no annual fee.

Scotia Momentum Visa Card vs Neo World Mastercard

Also available for no annual fee, the Neo World Mastercard earns cardholders similar cashback rates on groceries, gas, and recurring purchases. These rates can be boosted further when you purchase from Neo partners. In fact, you can also optimize your pharmacy purchases at partner retailers. Note, however, that this alternative has no added benefits and comes with income requirements.

Verdict: For those who qualify, the Neo World Mastercard offers a unique cashback system that boosts shared categories even more when you purchase from Neo partners and might be a better alternative than Scotia Momentum Visa card.

Scotia Momentum Visa Card vs MBNA Smart Cash World Mastercard

For a similar annual price point, you can apply for the MBNA Smart Cash World Mastercard instead. This contender optimizes eligible gas and groceries plus it features an extensive list of insurance coverage with rare inclusions like price protection. In addition to car rental discounts, cardholders receive trip and legal assistance. To qualify, you’ll also need to meet some annual income requirements.

Verdict: The MBNA Smart Cash World Mastercard is a reasonable alternative if you’d like to focus solely on optimizing gas and groceries, pocket better coverage, and if you want trip and legal assistance. You’ll also need to earn a little more to qualify.

Scotia Momentum Visa Card vs CIBC Dividend Platinum Visa Card

For a slightly higher annual fee, one that’s waived during the first year of membership, cardholders can opt for the CIBC Dividend Platinum Visa Card instead. This card collects better cashback on gas and groceries, plus similar cashback on recurring bill payments. Transportation and dining are also optimized. On top of extended warranty and purchase protection insurance, you’ll receive car rental damage and theft insurance and travel accident insurance. In addition to rental car discounts, you can also expect gas discounts at participating pumps.

Verdict: Consider the CIBC Dividend Platinum Visa Card if you want better cashback on gas and groceries, plus more coverage and perks.

Benefits and Perks

4 Benefits of the Scotia Momentum Visa Card

There are a few benefits that make the Scotia Momentum Visa Card worthwhile.

✅ Low Annual Fee

For starters, this card comes with a low annual fee, making it affordable for most applicants.

✅ Decent Optimization

For a low-fee contender, this card also comes with decent cashback rates on everyday purchases.

✅ Low Balance Transfer Rate

For the first several months of membership, cardholders can enjoy a low balance transfer rate to help them catch up on missed payments.

✅ Car Rental Discounts

Need a rental car? The Scotia Momentum Visa Card has you covered with discounts on Avis Rent a Car and Budget Rent a Car vehicles.

Drawbacks and Considerations

2 Downsides to the Scotia Momentum Visa Card

The Scotia Momentum Visa Card has a couple of drawbacks as well.

❌ Limited Insurance

For starters this card only comes with standard purchase protection and extended warranty insurance. This is disappointing since there are some no-fee contenders that offer more coverage.

❌ Cashback Caps

If you happen to be a big spender, note that your optimized cashback earnings on gas, groceries, drug store and recurring payments are capped at a maximum of $500 annually.

Frequently Asked Questions

The Scotia Momentum Visa Card is worthwhile for those who want to optimize gas, groceries, drugstore purchases, and recurring payments for a low annual fee. That said, there are competitors that offer similar reward rates for lower fees and include better perks and coverage. However, most of them require a higher income.

The Scotia Momentum Visa Card offers a low balance transfer promotional offer, making it a solid candidate for those who want to reduce the interest and earn rewards. However, there are other cards that are better suited for balance transfers specifically.

Yes. Currently, there are two Scotia Momentum credit cards with no annual fee: the Scotia Momentum Mastercard Credit Card and the Scotia Momentum No-Fee Visa Card.

About the author

Sara Skodak

Lead Writer

Since graduating from the University of Western Ontario, Sara has built a diverse writing portfolio, covering topics in the travel, business, and wellness sectors. As a self-started freelance content ...

SEE FULL BIO

About the editor

Abid Salahi

Credit Card Expert

Abid leads the design and engineering of the FinlyWealth website, making sure everything runs smoothly and looks great. He’s a seasoned software engineer who follows best practices and designs interfa...

SEE FULL BIO

What's on this Page

The Bottom Line
Card Details
Pros & Cons
Our Detailed Review
Compare to Similar Cards
Benefits and Perks
Drawbacks and Considerations
Frequently Asked Questions

Share this page

Scotia Momentum® Visa* Card

3.1

FinlyWealth Rating

APPLY NOW

on Scotiabank's website

Get personalized rewards estimates — see exactly how much you could earn.

Scotia Momentum® Visa* Card Cash Back Calculator

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.

APPLY NOW

on Scotiabank's website

Working hard in the background...

Scotia Momentum® Visa* Card

Tangerine Money-Back Mastercard

Neo World Mastercard®

MBNA Smart Cash® World Mastercard®

CIBC Dividend Platinum® Visa* Card

Welcome Bonus

2.99% introductory interest rate on balance transfers up to 6 months

10% Cash Back (up to $100 value) + 1.95% balance transfer promo rate for 6 months

N/A

Up to 5% cash back††

Earn up to $400 in value†

Earn Rates

2% cash back on gas, groceries, transit, rideshare, food delivery, drug store and recurring payments (maximum $500 annually)
1% cashback on all other credit card purchases.

2% Money-Back Rewards on your choice of two categories from the 13 offered by Tangerine (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reccurring Bill Payments, Home Improvement, Public Transportation and Parking and more). Change them up every 90 days to match your spending habits.
Have your Money-Back Rewards deposited into a Tangerine Savings Account and get a third 2% Money-Back Category.
0.5% cashback on all other credit card purchases.

2% cash back on grocery purchases up to $1,000 spending per month
2% cash back on gas purchases up to $1,000 spending per month
2% cash back on recurring purchases up to $500 spending per month
0.5% cash back on all other purchases up to $2,500 spending per month
Up to 15% cash back at Neo Partners

Get 2% Cash Back^‡ on eligible gas and grocery purchases (until the total gas and grocery purchases in the applicable month reaches $500)
Get 1% Cash Back^‡ for all other eligible purchases

3% cashback on gas and groceries if they are in the first $80K transactions of the year and $20K of categorical spends
2% cashback on transportation, dining and recurring bills if they are in the first $80K transactions of the year and $20K of categorical spends
1% cashback on all other eligible card purchases

Insurance Included

2 types

Extended Warranty
1 year
Purchase Protection
90 days

2 types

Purchase Protection
90 days
Extended Warranty
Up to a year

2 types

Purchase Protection
90 days
Extended Warranty
1 year

7 types

Purchase Protection
Up to 90 days
Price Protection
$500/item, $1,000/year
Extended Warranty
Up to a year
Car Rental Damage & Theft
Up to 31 days
Car Rental Accident
$200,000
Car Rental Personal Effects
$1,000/person, $2,000/occurence
Common Carrier Travel Accident Insurance
$1,000,000

4 types

Car Rental Damage & Theft
yes
Common Carrier Travel Accident Insurance
$500,000
Purchase Protection
90 days
Extended Warranty
Up to a year

Benefits

1 benefit

Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car

None

2 benefits

Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Trip and legal Assistance
Support for emergency cash transfer, lost document and ticket replacement, lost baggage assistance, pre-trip information and legal assistance while traveling

2 benefits

Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations
Car Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.

Annual Fee

$39

$99 (First Year Rebated)

Income Requirements

$12,000 personal

$50,000 personal or $80,000 household

$15,000 household

Apply Now

APPLY NOW

Learn More

Frequently Asked Questions

Yes. Currently, there are two Scotia Momentum credit cards with no annual fee: the Scotia Momentum Mastercard Credit Card and the Scotia Momentum No-Fee Visa Card.

The Bottom Line