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Scotia Momentum® Visa* Card vs Scotiabank Value® Visa* Card: Which one is better?
Scotia Momentum® Visa* Card
Scotiabank Value® Visa* Card
Welcome Bonus
Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)
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.
Our Cash Offer
$60 Cash Rebate offer from FinlyWealth
Our Cash Offer
$50 Cash Rebate offer from FinlyWealth
Rewards Breakdown
Annual Rewards
$305.45
First Year Bonus Value
+
$0
Annual Fee
-
$39
Finly Rebate
+
$60Exclusive Offer
First Year Value
$326.45
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
N/A
How to Earn Rewards
- 2% cashback on gas, groceries, drug store and recurring payments (maximum $500 annually)
- 1% cashback on all other credit card purchases.
How to Earn Rewards
This card does not earn rewards on purchases but instead offers much lower interest rates.
Insurance Included
Extended Warranty
1 year
Purchase Protection
90 days
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
2 Rates, fees and other information are effective as of January 3, 2025. Subject to change.
Annual Fee
$39
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
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.
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
- 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.
Pros
- A great low introductory interest rate on balance transfers
- Only 13.99% interest rate on purchases, balance transfers, and cash advances.
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.
Cons
- No rewards on daily purchases
- Limited insurance
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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.
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.