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Scotia Momentum Visa Card Review: An Accessible Consideration
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
Lead Writer
Edited By
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.
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on Scotiabank's website
Welcome Bonus
2.99% introductory interest rate on balance transfers up to 6 months
Annual Fee
$39
Interest Rates
19.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
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
GoodAnnual 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
0%
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 BackPros & 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.
Benefits and Perks
4 Benefits of the Scotia Momentum Visa Card
There are a few benefits that make the Scotia Momentum Visa Card worthwhile.
For starters, this card comes with a low annual fee, making it affordable for most applicants.
For a low-fee contender, this card also comes with decent cashback rates on everyday purchases.
For the first several months of membership, cardholders can enjoy a low balance transfer rate to help them catch up on missed payments.
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.
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.
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.
Read More: Best Balance Transfer Credit Cards in Canada
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 ...
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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...
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Scotia Momentum® Visa* Card Cash Back Calculator
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