About Scotia Momentum® Mastercard® credit card
A Scotia Momentum® Mastercard® credit card is a good credit solution for those who want to avoid annual fees. Along with cash back earning opportunities, this credit card provides certain benefits from Mastercard.
From time to time, Scotiabank features special offers for a Scotia Momentum® Mastercard® credit card. With such offers in place, you can get the advantage of a lowered interest rate on purchases for a limited period.
Scotia Momentum® Mastercard® credit card features
A Scotia Momentum® Mastercard® credit card features a 20.99% interest rate on purchases and 22.99% — on cash advances. With special offers in place, an interest rate on purchases may be lower. There is no annual fee for this card, and issuing supplementary cards is free as well.
With a Scotia Momentum® Mastercard® credit card, you can earn 1% cash back on eligible purchases at gas stations, grocery stores, and drugstores, together with recurring payments. Other eligible purchases made with your Scotia Momentum® Mastercard® credit card will bring you 0.5% cash back.
Scotia Momentum® Mastercard® credit card holders can save up to 25% when paying for car rentals at participating AVIS locations and at participating Budget locations in Canada and the U.S.
In addition, Scotia Momentum® Mastercard® credit card provides some exclusive benefits from Mastercard, including:
Access to the Priceless Cities®* by Mastercard allowing to explore the world’s greatest cities and visit the most coveted events
24-hour access to support from Mastercard Global Service
An opportunity to pay at Costco® Wholesale
Pros and cons
The definite advantages of a Scotia Momentum® Mastercard® credit card are:
A zero annual fee
Cash back earning opportunities
An interest-free grace period
Exclusive benefits from Mastercard
Worldwide acceptance
Still, there are certain disadvantages:
No insurance coverages included
Minimum annual income requirements to apply
How to apply for a Scotia Momentum® Mastercard® credit card
According to the website, you can apply for a Scotia Momentum® Mastercard® credit card online, in person at a branch, or by phone.
To apply online, hit the “Apply now” button next to the credit card description. The system will offer you to sign in if you have a Scotiabank online banking account already. If you don’t, click the “Start your application” button and fill out the online application form with the following details:
Your title
Your first name
Your last name
Your date of birth
Your social insurance number (optional)
Your email
Your phone number
Your home address
Your employment status (including your field of work or industry, job title, employer, and employer’s phone number)
Your annual employment income
Your other annual income
Your monthly housing expenses
Once you do, review the provided information and click the “Continue” button. Next, create a PIN and choose a secret word. Then, specify if you want to make your account paperless, add a supplementary cardholder, or apply for creditor insurance coverage. After that, agree with the terms and conditions and click the “Continue” button.
Keep in mind that to apply for a Scotia Momentum® Mastercard® credit card, you must have a minimum annual income of $12,000.
How does Scotiabank calculate interest for a Scotia Momentum® Mastercard® credit card? | Scotiabank calculates interest on your outstanding debt starting from the transaction date till the repayment in full. For new balances that come from new purchases and that you have repaid in full by the payment due date, Scotiabank doesn’t charge interest. There is no interest-free grace period for cash advances though. |
| How to increase my Scotia Momentum® Mastercard® credit card limit? | Scotiabank periodically checks your eligibility for a credit limit increase and may approve it if you express your consent to do so. Whenever needed, you can proactively ask for a credit limit increase by calling Scotiabank at the phone numbers specified on the back of your card or on your statement. |
I lost my Scotia Momentum® Mastercard® credit card. How do I report it to Scotiabank? | You can report a lost or stolen credit card by calling Scotiabank at the following numbers:
Once you do, Scotiabank will send you a new card. |
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Top offers of the February 2023
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