Independent ClearFin review · Scotiabank · Visa
Start with 5% cash back for 3 months on up to $2,000 in eligible purchases.
Current new-cardmember offer
Certificate terms apply
🎓 Student CashbackIts strongest published earn rate in our data is 2.0% on groceries. With no annual fee, it can be easier to keep long term without needing rewards to offset a yearly cost.
Checked 2026-08-09 · Official issuer catalogueNew cardmembers can earn 5% cash back for 3 months on up to $2,000 in eligible purchases by completing the steps below.
A 0.99% promotional balance-transfer rate for 9 months with a 2% transfer fee is also advertised. Full offer terms apply.
Confirm final approval criteria and current rates directly with the issuer.
The Scotia Momentum Visa Card (for students) is designed for students building or establishing credit history in Canada.
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 strict minimum credit score requirement. Approval is primarily based on student status, income (~$12,000 minimum if applicable), credit history (or lack of it), and overall banking relationship.
Reward limits: The Scotia Momentum Visa Card (for students) applies an annual spending cap on accelerated cash back rates. The 2% earn rate applies only up to a defined annual limit across eligible categories, after which those purchases earn the base 1% rate.
annual_spend_cap2% cash back applies to eligible categories (groceries, dining, subscriptions, gas, transit, recurring bills) up to an annual spend limit of approximately $25,000; after this, earn rate drops to 1%.
category_definitionAccelerated earn applies only to defined MCC categories including groceries, drugstores, gas stations, transit, rideshare, EV charging, and recurring payments.
reset_cycleAnnual earn cap resets every 12 months based on account opening statement cycle.
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.
Consider these extras by the value they add to purchases and experiences you already use.
Cash Back Rewards Structure
Earn up to 2% cash back on eligible categories including groceries, dining, subscriptions, gas, transit, rideshare, drugstores, and recurring bills.
Shell Fuel Value Boost
Get up to 7¢ per litre in combined value through fuel discounts, cash back, and Scene+ integration at participating Shell stations.
Purchase Security & Extended Warranty
Covers eligible purchases against theft or damage for 90 days and extends manufacturer warranties up to one additional year.
Flexible Redemption
Cash back can be redeemed anytime once the $25 minimum threshold is reached and can be applied as statement credit or bank deposit.
Car Rental Savings
Save up to 25% on base rates with Avis and Budget rentals in Canada and the U.S.
Student-Friendly Approval
Designed for students with a low entry barrier, making it easier to build credit history in Canada.
1 coverage listed. Key terms are summarized below; full certificate terms apply.
This coverage is listed in ClearFin's card catalogue. Confirm eligibility, limits, exclusions, and payment requirements in the issuer's current insurance certificate.
Coverage is subject to eligibility, exclusions, limits, payment requirements, and claim rules in the insurance certificate.
What we like
Worth noting
A practical reading of where the card earns, what the fee buys, and which limits matter.
A no-fee student Visa with 1% cash back on selected everyday categories and 0.5% elsewhere.
Groceries, Gas receive the strongest estimated return at 2.0%. Purchases outside the accelerated categories earn an estimated 1.0%.
There is no annual fee to recover, which can make the card easier to keep for credit-history length or occasional use. Interest and other transaction fees can still apply.
This card is most relevant for someone who spends consistently on groceries and gas and prefers to avoid a yearly fee.
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.
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.
