The Scotiabank Momentum Visa Infinite card is a rewards credit card offering cash back on various spending categories. Scotiabank, a major Canadian bank regulated by the FCAC, offers this card with benefits geared towards everyday spending. As of June 2026, the prime rate is approximately 7.20%, influencing the card's interest rates. This review will provide a balanced perspective, highlighting both the advantages and potential drawbacks of this card.
Editorial Score
Jordan Hale, CFP is a credit specialist with 12+ years advising Canadian clients on loans, credit building and responsible borrowing. All guidance is for education only.
Scotiabank Momentum Visa Infinite Card
Selected for this guide
Pros
- Generous cash back rewards, particularly on groceries and gas
- Comprehensive insurance package, including travel emergency medical and rental car collision
- Visa Infinite benefits, such as concierge service and luxury hotel perks
- Annual fee is often offset by the cash back earned
Cons
- Annual fee may be a barrier for some users
- Cash back is paid out annually
- Spending caps on bonus categories limit potential rewards
- Income requirements may be restrictive for some applicants
Key Features
The Scotiabank Momentum Visa Infinite card is a rewards credit card offering cash back on various spending categories. Scotiabank, a major Canadian bank regulated by the FCAC, offers this card with benefits geared towards everyday spending. As of June 2026, the prime rate is approximately 7.20%, influencing the card's interest rates. This review will provide a balanced perspective, highlighting both the advantages and potential drawbacks of this card.
This card aims to provide value through its cash back program. Consider this as a tool that, when used responsibly, can provide savings. However, it’s important to understand the fees, interest rates, and spending habits required to maximize its benefits. The Momentum Visa Infinite targets individuals with good to excellent credit (FICO ~760, which typically corresponds to an Equifax score of 660-724 per 2026 data) who are comfortable paying an annual fee in exchange for potentially higher rewards.
- Cash Back Rewards: Earn accelerated cash back rates on select categories, such as grocery, gas, recurring bill payments and drug store purchases. The specific rates vary, so it's important to check the current offer details on Scotiabank's website.
- Insurance Coverage: The card typically includes travel emergency medical insurance, trip interruption/cancellation insurance, and purchase protection. Review the policy details carefully to understand the coverage limits and exclusions.
- Purchase Security and Extended Warranty: Get protection against theft or damage for eligible items purchased with the card. Extended warranty doubles the manufacturer's warranty up to a certain period.
- Visa Infinite Benefits: Access exclusive Visa Infinite perks such as concierge services, hotel upgrades, and special dining experiences.
- Annual Fee: Be aware of the annual fee associated with this card, which can impact the overall value proposition. The fee can vary, so check the latest terms.
Pros & Cons
Pros
- Potentially high cash back earnings on everyday spending categories.
- Comprehensive insurance coverage.
- Access to Visa Infinite benefits.
- Purchase security and extended warranty.
Cons
- Annual fee that needs to be offset by rewards.
- Interest charges can negate rewards if balances are carried.
- Cash back rates may be lower on other spending categories.
- Requires good to excellent credit score for approval.
How It Compares
Here's a comparison of bad credit loan options, highlighting the APR ranges, loan amounts, terms, and key features:
| Provider/Platform | Typical APR range | Loan amounts | Terms | Notes (bad credit friendly?) |
|---|---|---|---|---|
| Fairstone | 26.99% - 39.99% | $500 - $50,000 | 6 - 60 months | Branches across Canada; focus on near-prime borrowers. |
| Borrowell | 9.99% - 46.99% | $1,000 - $50,000 | 36 or 60 months | Online platform; rates depend on credit profile. |
| Spring Financial | 18.99% - 46.99% | $500 - $35,000 | 6 - 60 months | Focuses on debt solutions and credit rebuilding. |
| Your Credit Union (varies) | Varies significantly | Varies significantly | Varies significantly | Some offer secured loans or other options for members with poor credit; contact local branches. |
For newcomers to Canada or those with limited credit history, building credit is essential. Several banks and credit unions offer specialized programs to help establish credit:
- Capital One Guaranteed Secured Mastercard: Requires a security deposit, which becomes your credit limit. Reports to credit bureaus to help build credit history.
- Scotiabank StartRight Program: Offers banking packages and credit options for newcomers without requiring extensive credit history.
Who It's For
The Scotiabank Momentum Visa Infinite card is best suited for individuals who:
- Have a good to excellent credit score.
- Spend a significant amount in the bonus cash back categories.
- Can afford to pay the annual fee and still come out ahead with rewards.
- Pay their credit card balance in full each month to avoid interest charges.
How to Apply
To apply for the Scotiabank Momentum Visa Infinite card:
- Visit the Scotiabank website or a local branch.
- Complete the online application form with accurate personal and financial information.
- Provide any required documentation, such as proof of income and identification.
- Review the terms and conditions of the card before submitting your application.
Responsible Borrowing Tactics:
- Set up automatic payments: This ensures you never miss a payment, protecting your credit score and avoiding late fees. Missing payments can negatively impact your credit score as it is reported to Equifax and TransUnion.
- Keep your credit utilization low: Aim to use less than 30% of your available credit limit. High credit utilization can lower your credit score.
- Review your credit card statement regularly: Check for any unauthorized transactions or errors and report them immediately to the bank.
- Avoid cash advances: Cash advances typically have high interest rates and fees, making them an expensive way to borrow money.
What Actually Builds Your Credit Score
Building a solid credit score in Canada involves several key factors. Your credit score, as reported by Equifax and TransUnion, is a numerical representation of your creditworthiness, influencing your ability to access loans, mortgages, and other financial products. Understanding what impacts your score is crucial for effective credit management.
- Payment History (35%): This is the most significant factor. Paying your bills on time, every time, demonstrates reliability. Missed payments are reported to credit bureaus and can negatively impact your score.
- Credit Utilization (30%): This refers to the amount of credit you're using compared to your total available credit. Keeping your credit utilization below 30% is ideal. For example, if you have a credit card with a $1,000 limit, try to keep your balance below $300.
- Length of Credit History (15%): A longer credit history generally leads to a higher score. The age of your oldest credit account and the average age of all your accounts are considered.
- Credit Mix (10%): Having a mix of different types of credit, such as credit cards, installment loans, and mortgages, can positively impact your score. However, don't open new accounts just to diversify your credit mix.
- New Credit (10%): Opening too many new accounts in a short period can lower your score. Each time you apply for credit, a hard inquiry is made on your credit report. Spreading out your credit applications over time is recommended.
Sources & verification
- FCAC — building credit in Canada
- Equifax — credit scores (Canada)
- TransUnion Canada — consumer resources
FAQ
What credit score is needed to qualify for the Scotiabank Momentum Visa Infinite card?
A good to excellent credit score is typically required. This generally means a FICO score of 660 or higher, which aligns with Equifax's definition of "good" or "very good".
What is the annual fee for the Scotiabank Momentum Visa Infinite card?
The annual fee varies, so it's important to check the current offer details on Scotiabank's website. The fee can be a significant factor in determining the overall value of the card.
How is cash back earned with this card?
Cash back is earned on eligible purchases made with the card. The specific rates vary by spending category, so review the terms and conditions carefully. Ensure the cash back rates justify the annual fee.
What insurance coverage is included with the card?
The card typically includes travel emergency medical insurance, trip interruption/cancellation insurance, and purchase protection. Review the policy details to understand the coverage limits and exclusions.
Can I transfer my balance from another credit card to this card?
Balance transfers may be an option, but they often come with fees. Consider the interest rate and fees associated with the balance transfer before making a decision.
What happens if I miss a payment on my Scotiabank Momentum Visa Infinite card?
Missing a payment can result in late fees and a negative impact on your credit score. It's important to make at least the minimum payment by the due date to avoid these consequences. Setting up automatic payments can help prevent missed payments.
Not financial advice. Rates and offers change. Read provider terms.
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BGR's editorial team evaluates every Canadian credit card using a 7-factor scoring model aligned with FCAC guidelines.
Data sources: FCAC, CMHC, issuer websites, Equifax Canada, TransUnion Canada. Last audit: June 2026.