The ClearFin bottom line
💵 Everyday Cashback
Its strongest published earn rate in our data is 2.0% on groceries. The $49 annual fee should be weighed against the rewards and benefits you expect to use.
Checked 2026-08-09 · Official issuer catalogueIndependent ClearFin review · Scotiabank · Visa
Scotia Momentum Visa
Start with 0.99% introductory interest rate on balance transfers for 9 months.
Independent comparisonFees includedCanadian card data
- Annual fee
- $49
- Reward type
- Cash Back
- Welcome offer
- Available
- Insurance
- Not listed
Current new-cardmember offer
Confirm with the issuer
$60cash rebate*
💵 Everyday Cashback
💵 Everyday Cashback
Welcome bonus
0.99% introductory interest rate on balance transfers for 9 months
How to earn it
- 0.99% intro rate on balance transfers for first 9 monthsNew account opened Jul 2, 2026 - Jan 3, 2027; 2% transfer fee; reverts to 22.99%
Offer ends 2027-01-03
Offer details
New Scotia Momentum Visa accounts; not for Scotiabank cardholders in past 2 years.
How you earn
- Earn up to 2% cash back on eligible everyday purchases in bonus categories like groceries, dining, gas, transit, and recurring bills
- Earn 1% cash back on all other eligible purchases
- Accelerated earn rates apply to groceries, food delivery, subscriptions, gas, EV charging, transit, and drugstore purchases (up to $25,000 annual spend cap)
- Cash back can be redeemed anytime once $25 minimum is reached
- Cash back does not expire as long as the account remains open
- Earn additional value through Shell fuel savings (up to 7¢/L when linked with Shell Go+)
Costs and requirements
Fees & eligibility
Confirm final approval criteria and current rates directly with the issuer.
Annual fee$49
Purchase interest21.99%
Cash advance interest22.99%
Foreign transaction fee2.5%
Income requirement$12,000Issuer approval criteria apply
Recommended credit score650+ Fair to Good Credit
The Scotia Momentum Visa Card is an entry-to-mid level cash back card designed for everyday spenders with established credit history.
300Poor
560Fair
660Good
725Very Good
760Excellent
ClearFin estimate on Canada's 300–900 scale. This is not an issuer cutoff or approval guarantee; lenders may use different bureau scores and underwriting criteria. Scotiabank does not publish a minimum credit score requirement. Approval depends on income, credit history, debt-to-income ratio, and overall credit behaviour.
Reward limits: Scotiabank publishes a category-based annual spending cap for accelerated earn rates on the Scotia Momentum Visa. The 2% cash back rate applies to eligible categories (groceries, gas, transit, recurring bills, drugstores, and select subscriptions) up to an annual spend limit of $25,000. After this threshold is reached, purchases in these categories earn the base 1% rate.
annual_spend_cap2% accelerated cash back applies up to $25,000 annual spend in eligible categories; beyond this, earn rate drops to 1%.
Using your rewards
Redemption options
Redemption values and availability may vary by option and can change.
Redeem earned cash rewards using the issuer's available cash-back or statement-credit options.
Minimum redemption amounts, automatic payout timing, and eligible account credits vary by issuer; confirm the current program terms before applying.
Beyond the points
Benefits that come with the card
Consider these extras by the value they add to purchases and experiences you already use.
Fuel Savings at Shell
Get up to 7¢ per litre in combined value when using the card at participating Shell stations with linked Scene+ and Scotia Momentum Visa offers.
Purchase Protection & Extended Warranty
Eligible purchases are protected against damage or theft for 90 days, with extended warranty coverage that can double manufacturer warranties up to one additional year.
Scotia SelectPay Installments
Convert eligible purchases into fixed monthly payments with low interest and no setup fee for better budgeting flexibility.
Car Rental Discounts
Save up to 25% on base rates at participating Avis and Budget locations in Canada and the U.S.
Cash Back Flexibility
Redeem cash back anytime once you reach the $25 minimum threshold, with no expiry as long as the account remains open.
Fraud & Zero Liability Protection
Protection against unauthorized transactions under Visa zero liability policies and Scotiabank fraud monitoring systems.
Protection included
Insurance at a glance
No included coverage is verified in ClearFin's current catalogue.
Insurance is not currently listed for this product.
This does not prove that coverage is unavailable. Confirm the issuer's current certificate and benefit guide before relying on protection.
Check the official card page ↗The verdict
What we like
- Strong everyday cash back structure with 2% on key categories like groceries, gas, transit, and recurring bills
- Low barrier entry with no high income requirement and accessible approval criteria
- Cash back rewards never expire and can be redeemed once $25 threshold is reached
Worth noting
- Annual cap of $25,000 on accelerated 2% earn rate reduces high-spend value
- Foreign transaction fee of 2.5% makes it weak for international spending
- Annual fee ($49) reduces net value compared to no-fee cashback alternatives
ClearFin analysis
Our detailed review
A practical reading of where the card earns, what the fee buys, and which limits matter.
💵 Everyday Cashback
2% on groceries, food delivery, drugstores, gas, transit & recurring bills. 1% on everything else.
How the rewards work
Groceries, Gas receive the strongest estimated return at 2.0%. Purchases outside the accelerated categories earn an estimated 1.0%.
What the annual cost means
Using the strongest estimated category return alone, roughly $2,450 in annual spending at that rate would equal the $49 fee before considering the value of insurance, partner benefits, or a welcome offer.
Who it may suit
This card is most relevant for someone who spends consistently on groceries and gas and can use enough of the included value to justify the yearly cost.
What to examine before applying
Compare the purchase interest rate, foreign-transaction fee, approval requirements, reward limits, and insurance certificates. Pay particular attention to merchant-category rules because a store may not receive the reward rate its products appear to suggest.
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Issuer terms apply. ClearFin is not affiliated with this provider. How we make money. Card facts were checked against the issuer's official source. The issuer's current catalogue was checked. Any field not explicitly listed remains marked as unverified rather than estimated.