Scotia Momentum® Visa Card

Scotia Momentum® Visa Card: interest rates, available limits, cashback, and bonuses. Complete terms and conditions for obtaining a credit card. Application and issuance process online or at a bank branch. Key features.
Min 500 $
Credit Limit
19.99 %
APR for Shopping
from 700
Credit Score

Product Details

Cash back
Purchases Purchases
2 %
APR
APR for Cash Advances APR for Cash Advances
22.99
General Info
Credit Limit Credit Limit
Min 500 $
Required documents Required documents
ID, Proof of income, Proof of residence
Fees
Balance Transfers Balance Transfers
5 $
Cash Advances Cash Advances
5 $
Annual Fee Annual Fee
39 $
Foreign Transactions Foreign Transactions
2.5 %
Returned Payment Returned Payment
48 $

The Scotia Momentum® Visa Card is designed to provide robust cash rewards on everyday essential purchases while maintaining a low annual fee and offering a competitive introductory interest rate on balance transfers. Earn 2 times the cash rewards on everyday essential purchases such as gas, groceries, and bills. This means you'll earn double the cash back compared to regular purchases, making it ideal for those who spend frequently on these categories.

Key Features

  1. Cash Back Rewards. Earn up to 2% cash back on eligible purchases made at gas stations, grocery stores, and drug stores. Additionally, earn cash back on recurring bill payments, providing a robust way to earn rewards on essential purchases and regular expenses.

  2. Annual Fee. The card carries an annual fee of $39, which is billed annually to the cardholder's account. This fee is relatively low compared to other cash back credit cards, making it a cost-effective choice for those looking to maximize rewards without high upfront costs.

  3. Minimum Credit Limit. The Scotia Momentum® Visa Card offers a minimum credit limit of $500. This ensures accessibility for a wide range of credit profiles, from those establishing credit for the first time to individuals with established credit histories.

  4. Interest Rates. Enjoy a competitive interest rate of 19.99% on purchases. This rate applies to any outstanding balances not paid in full by the due date on the monthly statement. It allows cardholders to manage their finances responsibly while benefiting from cash back rewards on eligible purchases.

Pros and Cons

Pros

Cons

How to Apply for a Scotia Momentum® Visa Card

Infographic

Scotia Momentum® Visa Card

Eligibility Requirements

Reasons You May Be Denied a Scotia Momentum® Visa Card

How to Pay Off My Scotia Momentum® Visa Card Debt

On the Web

In the Mobile App

Editorial Opinion

The Scotia Momentum® Visa Card offers a straightforward cash back rewards structure with up to 2% cash back on essential purchases like gas, groceries, and recurring bills, coupled with a competitive introductory balance transfer rate. While it lacks a welcome bonus and includes limited insurance benefits, its low annual fee and accessible minimum income requirement make it appealing for those seeking to earn rewards on everyday spending without high upfront costs. Overall, it caters well to individuals looking to consolidate debts and earn consistent cash back, provided they can maximize spending in the designated categories.

Additional Resources

Sources

FAQ

What is the introductory balance transfer rate and how long does it last?

How often are cash back rewards paid out?

What are the eligibility requirements to apply for the Scotia Momentum® Visa Card?

Company documents

Terms of Access Show
Privacy Commitment Show
18.11.2022
-
Last update 21.08.2024
Other Credit Card of Scotiabank