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Scotiabank

Scotiabank No-Fee Visa

Start with earn up to 10% Cash Back for the first 3 months, worth about $200.

Apply at ScotiabankCalculate my rewards
Annual fee
$0
Reward type
Cash Back
Income required
$12,000

personal

Typical credit · 550+
Scotiabank No-Fee Visa🆓 No Fee

Welcome bonus

New cardmembers can earn earn up to 10% Cash Back for the first 3 months, worth roughly $200, by completing the steps below.

How to earn it

  • 10% Cash BackOn up to $2,000 in eligible purchases within first 3 months

New Scotia Momentum No-Fee Visa student cardholders who open an account within the promotional period

Offer ends 2026-04-30.

How you earn

  • Earn 1% Cash Back on eligible groceries, food delivery, drugstore purchases, gas, EV charging, transit, rideshare, and recurring bill payments (subject to annual spend limit)
  • Earn 0.5% Cash Back on all other eligible purchases after accelerated category thresholds are reached
  • Cash Back applies only to net purchases (returns, fees, interest, cash advances excluded)
  • Cash Back can be redeemed once a minimum $25 balance is reached
  • Cash Back does not expire while the account remains open and in good standing
  • Category-based earn rates are determined by Visa merchant category code (MCC) classification

Built-in perks & coverage

No annual fee

Card carries a $0 annual fee, making it cost-efficient for students and low-income applicants.

Cash back on everyday spending

Earn cash back on common spending categories including groceries, gas, transit, dining, and recurring bills.

Flexible redemption

Cash back can be redeemed at any time once the minimum threshold is met, with no complex redemption system.

Fuel savings at Shell

Eligible cardholders can receive up to per-litre value savings at participating Shell stations when linked with Scene+ program offers.

Car rental discounts

Discounted base rates available at participating Avis and Budget locations when booking with the card.

Purchase protection coverage

Includes basic purchase security and extended warranty protection on eligible purchases.

Optional credit protection insurance

Offers optional coverage for life events such as job loss, disability, or illness to help manage outstanding balances.

The verdict

What we like

  • No annual fee, making it cost-effective for students
  • Cash back earned on everyday essential spending categories
  • Simple redemption structure with low threshold requirement
  • Supports credit building for new or limited credit history users

Worth noting

  • Foreign transactions incur a 2.5% FX fee
  • Lower base earn rate (0.5%) outside accelerated categories
  • Annual cap on higher earn rate categories reduces long-term reward efficiency
  • Limited premium travel benefits such as lounge access or travel insurance coverage

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