Scotia Momentum VISA Infinite Review
For Canadians who frequently turn out their pockets on common expenses like groceries, various modes of transportation, gas at the pump, and recurring bills, few cards can provide the same cash back value as Scotia’s Momentum Visa Infinite. With an elevated rate of cash back for all these everyday costs, you’ll confidently take out your card anywhere knowing that the savings are both universal and constant.
Cashback rates aside, the Momentum Visa Infinite card provides other valuable protections and perks, including travel insurance, Visa Infinite privileges, and the rare addition of mobile device coverage.
- $120 annual fee (waived in 1st year for new cardholders)
- 4% cash back on groceries and recurring bill payments
- 2% cash back on daily transit and gas
- 1% cash back on everything else
- Visa Infinite privileges (hotel upgrades, 24/7 concierge etc.)
- Travel insurance with medical, trip interruption & cancellation
- $1,000 mobile device insurance
The card has three earning tiers, at 4%, 2%, and 1% cash back. You’ll earn 4% cash back on eligible recurring bill payments and grocery store purchases, which are some of the most frequent and predictable expenses for the average cardholder. A recurring bill can be anything charged consistently and consecutively, such as insurance, subscriptions, club memberships and other expenses of this nature.
Purchases within the two 4% categories collect at that rate until you spend $25,000 collectively between them each year. Then the rate is reduced to 1% for the remainder of the year (going back to 4% when the next year starts). The same annual diminishing returns apply separately to Scotia’s 2% categories (gas and transit) as well:
For gas and public or shared transit you’ll earn 2% cash back. Here, transit is defined as public transportation like buses, trains, or subways, but it also includes taxis and ridesharing apps like Uber as well. Finally, cardholders can expect that any purchase which doesn’t fall into these categories earns at the standard 1.00% rate.
The Scotia Momentum Visa Infinite has a comprehensive array of insurance or related benefits for travellers and consumers alike, including:
- Emergency Travel Medical: $1M coverage for travellers and their eligible companions under age 65 for 15 consecutive days.
- Trip Interruption and Cancellation: Charge at least 75% of the trip’s cost to your Momentum Infinite Visa card and you’ll be covered with the rare combination of both trip cancellation ($1,500 per person) and trip interruption ($2,000 per person) insurance.
- Flight Delays: Charge 75% of the trip’s cost to the card to get covered when delayed flights require reimbursement for necessary expenses including accommodations, meals, and more.
- Delayed/Lost Baggage: If you paid for your tickets with the card then delayed and lost luggage and bags are fully covered.
- Travel Accidents: Charged 75% of the trip to your card? If you lose life or limb, you’re covered.
- Rental Car Collision and Damage: This benefit lets you waive the agency-provided CDW and protects rental vehicles from damage and theft, free of charge.
- Mobile Devices: Buy a tablet or a smartphone with the Momentum Visa Infinite and it’s automatically covered with $1,000 of insurance against damage and theft—a super valuable perk in the age of fragile and expensive devices.
Those who spend a lot on gas may find themselves disappointed in the 2% cashback rate earned by this card, and might instead consider other cashback cards offering higher gas rates, e.g. the Meridian Visa Infinite card (4%) or the TD Cash Back Visa Infinite (3%). If you’re frequently on the road we recommend taking a lot at your monthly expenses and crunching the numbers.
Who’s the Scotia Momentum Visa Infinite Card For?
We recommend the card to those that fit the following profiles:
- People who often bounce from place to place using the subway and train, or taxis and Ubers
- Those for whom groceries and/or recurring bills form their highest monthly expenses
- Anyone planning to buy an expensive mobile device in the near future (e.g. an iPhone)
At the end of the day, new Scotia cardholders (those who aren’t currently cardholders or weren’t previously in the last 2 years) have their fee waived regardless, making it quite inexpensive to give the card a try for at least a year.