Scotiabank Momentum VISA Infinite
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Scotiabank Momentum VISA Infinite Card
Pros
- Earn 4% cash back on grocery purchases
- Get 2% cash back on gas and recurring bill payments
- Access to premium travel insurance benefits
- No foreign transaction fees
Cons
- Annual fee of $120
- Requires a minimum income for approval
- Cash back rewards have limits on certain categories
Key Features
The Scotiabank Momentum VISA Infinite card is designed to reward users with cashback on various categories of spending. Here’s a comprehensive overview of its features:
- Welcome Bonus: The card typically offers a welcome bonus for new applicants. Check the Scotiabank website for the current offer, which may include bonus cashback on your first few months of spending.
- Annual Fee: The annual fee can vary, often ranging around CAD 120. However, it may be waived for the first year for new cardholders, depending on current promotions.
- Cashback Rates: Earn cashback at the following rates:
- 4% on grocery purchases
- 4% on recurring bills
- 2% on transportation, including gas
- 1% on all other purchases
- Insurance Benefits: The card offers various travel and purchase protection insurance, which may include travel accident insurance, rental car insurance, and extended warranty coverage.
- Redemption Options: Cashback can be redeemed as a statement credit or deposited into a bank account.
Pros & Cons
As with any financial product, the Scotiabank Momentum VISA Infinite has its strengths and weaknesses. Here’s a detailed list:
Pros
- High cashback rates in popular spending categories.
- Welcome bonus can significantly enhance initial rewards.
- Comprehensive insurance coverage and purchase protection.
- Flexible redemption options for cashback.
- Access to Scotiabank’s mobile app for easy account management.
Cons
- Annual fee can be steep for occasional users.
- High interest rates on outstanding balances—be cautious with carryover debt.
- Eligibility may require a good to excellent credit score (typically 650+).
- Cashback rewards may not be as beneficial for low spenders.
How It Compares
To provide a clear perspective, let’s compare the Scotiabank Momentum VISA Infinite with two other popular cashback credit cards in Canada: the SimplyCash Card from American Express and the TD Cash Back Visa Infinite Card.
| Feature | Scotiabank Momentum VISA Infinite | SimplyCash Card from American Express | TD Cash Back Visa Infinite Card |
|---|---|---|---|
| Annual Fee | Varies (CAD 120 typically) | No annual fee | CAD 120 (waived in the first year) |
| Welcome Bonus | Check current offer | Up to CAD 150 cash back | CAD 150 cash back |
| Cashback on Groceries | 4% | 1.25% | 3% |
| Cashback on Other Purchases | 1% | 1.25% | 1% |
| Insurance Benefits | Comprehensive | Limited | Comprehensive |
In summary, the Scotiabank Momentum VISA Infinite excels in cashback rates for specific categories and offers robust insurance benefits, but it comes with an annual fee and requires a good credit score. The SimplyCash Card is ideal for those looking for no annual fee but offers lower cashback rates, while the TD Cash Back Visa Infinite Card balances a competitive cashback structure with a similar annual fee and strong rewards on groceries.
Who It's For
The Scotiabank Momentum VISA Infinite card is best suited for:
- Individuals who frequently spend on groceries and recurring bills, maximizing the cashback rewards.
- Those who pay off their balances in full to avoid high-interest charges.
- Canadians looking for comprehensive insurance benefits with their credit card.
- People with a good to excellent credit score (typically 650+) or newcomers who may have established credit in Canada.
However, if you are a low spender or do not often use credit cards, the annual fee may outweigh the benefits.
How to Apply
Applying for the Scotiabank Momentum VISA Infinite card is a straightforward process:
- Check Eligibility: Ensure you meet the credit score requirement of typically 650+. If you are a newcomer, having a Canadian credit history helps.
- Gather Documentation: Prepare your identification (e.g., driver's license, passport), income information (tax returns, pay stubs), and proof of residence.
- Visit the Scotiabank Website: Go to the official Scotiabank website and navigate to the credit card section.
- Complete the Application: Fill out the online application form with your personal and financial information.
- Submit the Application: Review your information and submit the application. You may receive an instant decision or be contacted for further verification.
Once approved, you can start using your card and enjoy the benefits. To manage the card responsibly, always try to pay off your balance in full each month to avoid interest charges and maintain a healthy credit score.
FAQ
What is the interest rate on the Scotiabank Momentum VISA Infinite?
The interest rate on this card is typically around 19.99% for purchases, but it’s essential to check the latest rates on the Scotiabank website as they can change.
Is there a limit on how much cashback I can earn?
While there is no fixed limit on cashback earnings, certain categories may be capped. Review the terms and conditions on the Scotiabank website for specifics.
Can I apply for this card if I am a newcomer to Canada?
Yes, newcomers can apply, but having a credit history in Canada will enhance your chances. Consider starting with a secured card if you have no credit history.
How often can I redeem my cashback?
Cashback can typically be redeemed at any time, either as a statement credit or direct deposit into a bank account.
What should I do if my application is denied?
If denied, review your credit report for errors, improve your credit score, and consider reapplying after addressing any concerns.
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.