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Scotia Momentum® Visa Infinite* Card vs Scotia Momentum® Visa* Card: Which one is better?
Scotia Momentum® Visa Infinite* Card
4
Scotia Momentum® Visa* Card
3.1
Finly Rebate
Promotional rebate expires on Mar 31, 2025
Finly Rebate
Rewards Breakdown
Annual Rewards
$407.15
First Year Bonus
$200
Annual Fee
$120
First Year Value
$607.15
$287.15 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$315.05
First Year Bonus
$0
Annual Fee
$39
First Year Value
$276.05
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Extended Warranty
1 year
Purchase Protection
90 days
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
48 days
Travel Accident
$500,000
Mobile Device Insurance
$1,000
Emergency Out of province Medical
15 days
Trip Cancellation
$1,500
Trip Interruption
$2,000Flight Delay
$500
Insurance Included*
Extended Warranty
1 yearPurchase Protection
90 days
Extra Benefits*
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Visa Infinite Exclusive Benefits
Yes
Extra Benefits*
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates*
Purchase:
19.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Annual Fee*
$120
$0
First Year Waived
Annual Fee*
$39
Income Required*
Min Personal Income:
$60,000
Min Household Income:
$100,000
Income Required*
Min Personal Income:
$12,000
Min Household Income:
N/A
Welcome Bonus*
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on additional cards.
Welcome Bonus*
Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)
Rewards Rate*
- 4% cashback on groceries, recurring payments (maximum $1000 cashback per year)
- 2% cashback on gas, daily transit (maximum $500 cashback per year)
- 1% cashback on all other credit card purchases (unlimited).
Rewards Rate*
- 2% cashback on gas, groceries, drug store and recurring payments (maximum $500 annually)
- 1% cashback on all other credit card purchases.
Is this card worth it?
The 4% cashback offered on groceries and recurring purchases is the highest among all other credit cards. With the first year's annual fee waived, and with the right transactions used on this credit card, a high amount of cashback could be earned.
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.
Pros
- Highest Cashback rates on Groceries and Recurring purchases compared to other cashback credit cards.
- High insurance coverage.
- First year annual fee waived.
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.
Cons
- The base cashback rate (1%) is low for most high spent categories, especially after the first year when the card's annual fee kicks in.
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.
vs American Express Cobalt® Card
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vs SimplyCash™ Preferred Card from American Express
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vs Tangerine Money-Back Credit Card
vs CIBC Costco Mastercard
vs American Express® Aeroplan®* Card
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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. Check here for full details and current product information.