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2.9
/5
Scotiabank
Visa
Scotia Momentum® No-Fee Visa* CardCash Back Calculator
5% Cash back (up to $2,000 in purchases)
Our Take
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.
Exclusive · From FinlyWealth$50 rebate
Card Details
Interest Rates
Purchase: 19.99%
Cash Advance: 22.99%
Balance Transfer: 22.99%
Promotional Rates
Balance Transfer: 0
Promotional Period: 6 months
Annual Fees
Main Card: $0
Additional Cards: $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)
Offer valid from October 31, 2025 - March 1, 2026
Annual Income
Personal: $12,000
Household: N/A
Credit Score Estimate
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
Card Type
Credit
Our Rating
2.9/5
Institution
Scotiabank
How You Earn Rewards
- 1% cash back on gas, groceries, drug store, transit, rideshare, food delivery and recurring payments
- 0.5% cash back on all other credit card purchases (unlimited)
Annual Rewards Breakdown
Annual Rewards Summary
Point Redemptions
Redemption Method
Net Value (After Annual Fee)
Insurance & Benefits
0 insurance
1 benefit
Insurance
No insurance coverage is bundled with this card.
Benefits
Details
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Pros & Cons
Pros
- No annual fee
- Generous welcome bonus
- Decent rewards
- Car rental discounts
Cons
- No insurance
- Annual redemption
- Relatively lower earn rate
Legal
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.