Scotia Momentum VISA Infinite Review

Annual Fee
first year free
$120
Purchase Interest Rate
20.99%
Min Personal Income Required
$60,000
Recommended Credit Score
740 850 670 739 580 669 0 579
Good-Excellent
First year annual fee waived

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.

Feature Breakdown

  • $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

Cashback Structure

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.

Insurance

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.

Drawbacks

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.

Article comments

91 comments
Albert says:

I tried clicking on the apply button at the top, but I can’t find any information regarding the bonus 10% cash back on the next page that opened. Is the 10% offer still available?

The GreedyRates Team says:

Hey Albert,

Thanks for the question! If we advertise a promotion and you use our link to navigate to the application for the card you want, as long as you’ve applied during the active promotion and fulfill the other applicant requirements then you’ll receive the promotion as described. Even if the information on the card application page that you’re linked to doesn’t match the card information we provided (like if it’s missing a bonus or if the bonus is different), then don’t worry. It’s just that card issuers and banks simply use the same static page as the destination for all their partner deals and promotions. Enjoy!

GreedyRates

Pablo says:

I had the No fee Scotia Momentum Visa way back 2009, closed in 2010. Will this fact disqualify me from the 10% cash back offer?

The GreedyRates Team says:

Hi Pablo,

Thanks very much for coming to GreedyRates with your inquiry. Feel free to apply for the Scotia Momentum Visa Infinite card and you’ll enjoy that lucrative 10% cash back perk, because we’re confident that you’re eligible. Though you’ve had the card before, this was almost a decade ago! It’s good to be cautious, though, because you can never tell with banks these days…unless you read the fine print. Buried in the legalese we found, “Former or current Scotiabank credit cardholders of any kind in the past 2 years, including those that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account, are not eligible for this Offer.”

Accordingly, you’re eligible because you were a cardholder much longer than 2 years ago. This applies to both the 10% cash back perk and the annual fee waiver. Enjoy the card and holler at us if you need a word of wisdom about how to make the most of it, pair it with a complementary card, or otherwise help with your finances. Best of luck!

GreedyRates

Peter Mueller says:

Is the 10% bonus cash back rate or earning supposed to appear on your monthly statement?

The GreedyRates Team says:

Hey Peter,

Great question. The Scotia Momentum Visa Infinite card’s 10% cash back deal is interesting because the cash back is segregated into two categories which both arrive to your account at different times. Until you’ve spent $2,000 at the 10% rate or until the promotional period has ended, the portion of cash back earned during this time at the regular 6% rate will only be received when you’d normally expect it (in November). The other 4% bonus cash back percentage above the regular rate arrives 2-3 months after the offer’s end date.

Since the maximum amount of cash back you can earn under the 10% deal is $200, then $80 of this cash back lump sum can be attributed to the bonus rate, and $120 to the regular rate. You’ll therefore get the $80 cash back at most 3 months after the promotion is over, and then the $120 as a part of your once-yearly redemption. Hope that clarifies it a bit.

GreedyRates

dwigjt says:

“. Cash back will not be awarded for a Scotia Momentum VISA Infinite account that is not in good standing, or is not open, when the
November statement is issued. If a Scotia Momentum VISA Infinite account is closed at any time prior to the November statement, for any reason, all cash
back earned to that time will be forfeited. ”

my account was opened November 6 and my November statement was issued November 22. let’s say I cancel the day before (Nov 5), would I still get the cash back since they would still technically need to issue my November statement since the November statement actually overs late October as well?

Or is the wording such that the account must be active on the actual date the statement is issued (ie November 22)?

The GreedyRates Team says:

Hey Dwight,

Interesting conundrum you’ve presented us with. Your card was issued on November 5th, and Scotia makes it clear that if you intend to close your account before cash back is issued at the end of November, you won’t get the cash back you’ve earned when November’s bill comes due. We assume that your line of thought is to cancel before your account anniversary to avoid getting hit with a full annual fee, because if you keep the account open for an extra couple of weeks to request your cash back then the fee will nullify its value. We’re not sure how it’ll work, honestly, and depends on several factors including when the annual fee is applied, and if your idea about cancelling in the same month will work. The text seems to make it clear that accounts which are not open when the November statement is issued (at the end of the month) won’t get their cash back.

You’ll have to call Scotia and ask about this, but something tells us it’s intentional. Forcing people to wait until a certain time every year also forces them to make a decision about whether it’s worth it to cancel their account if it means forfeiting months’ worth of points. Regardless, let us know what you find out and good luck in your redemption adventures.

GreedyRates Staff

John says:

How much is a supplemental card?

The GreedyRates Team says:

Hey John,

Good question, thanks for reading. If you want to get a supplemental Scotia Momentum Infinite card for a family member or spouse, it’ll cost you $30.00. That’s an annual fee, so add it to your own annual fee as the primary cardholder and you two can expect to pay $129.00 per year for both your cards. Enjoy!

GreedyRates Staff

Sayeed Kazi says:

Excellent card.
My car rental company in Switzerland asked me to pay almost $1400 for minor scratch . And had no other insurance other than the this card insurance.
This card insurance paid me all.

The GreedyRates Team says:

Hey Sayeed!

Great to hear—the card has already paid for itself ten times over! We’re glad that the rental car collision and damage coverage that comes with your Scotia Momentum Infinite Cash Back card worked wonders and saved you a ton of cash on your recent trip. A whopping $1,400 for a scratch would’ve been a real nuisance to pay. We bet you’re blessing your decision to decline the rental agency’s insurance, as it may not have resulted in the same claim decision and regardless would have cost you extra. Keep a tight hold on this great credit card on future trips and be sure to take thorough pictures of all vehicles you rent before leaving the lot—just in case!

GreedyRates

BRAD says:

Do you know how long it takes to get approved for this card?

The GreedyRates Team says:

Greetings Brad!

Thanks for coming to GreedyRates. If you’ve applied for a Scotiabank card and are currently waiting patiently for approval, know that it won’t take long. Given our far-removed relationship to banks we can’t know their internal processes very intimately, but we can say that we’ve seen other readers approved within a week. You’ll usually receive a notice of your approval same-day, so just keep an eye on your mailbox and email inbox as well. Remember also that there are multiple factors that could increase or decrease your wait time, like how inundated the bank is with applications at any moment, the comprehensiveness of your credit report, and more. Sit tight and call customer support if you don’t hear anything soon. Good luck!

GreedyRates

Chin says:

I called and applied for the card on March 15, 2019 and they said that the card should arrive at a local Scotiabank branch close to me in a week. I was just informed that the card has arrived and ready for pick up; it is now March 26th 2019. If you apply online instead of over the phone, it actually takes longer, said the representative I talked to over the phone. However, to get a second card, you need to activate the first card and then call in to request a second card. I hope this helps.

The GreedyRates Team says:

Hey Chin!

That’s all correct. If you apply online, your application will typically take a little longer than if you call in to the issuer and apply with the help of a representative. You saw this when the bank estimated a one-week card delivery, but it took an extra 4 days—nothing terrible, but nevertheless inaccurate. It’s also true that for some cards, you must first activate the primary cardholder’s card before you can request a supplementary card, while for other issuers you can request a supplementary card on the application. Thanks again.

GreedyRates

dwight chang says:

if i understand it correctly, wouldnt it be ideal to take advantage of this card by spending it on 1% purchases , so you earn 9% as bonus? this is assuming you have other cards that earn higher percentages on other categories

dwight chang says:

if i already have a scotiabank credit card, i can’t get this offer?

Samar Khan says:

It seems to me that if you take out the sign-up offer, the Meridian Visa Infinite card has better benefits for same annual fee.

The only disadvantage that I can tell from your review is that Meridian has 25K cap combined for 2% and 4% categories whereas momentum has 25K cap separate for the two categories. However, Meridian has 1K phone insurance and the 60 day price protection in addition to some cool travel privileges. So if you are not worried about the sign-up offer, then Meridian seems better option

The GreedyRates Team says:

Hi Samar!

Great observations. As it is with any two similar cards, the question of which card is better is only answered subjectively. While the Meridian card does offer some perks with circumstantial usefulness (like the mobile insurance might be great for someone who needs a new phone, or the price protection for someone who is a bargain hunter), it’s difficult to compete with the direct value offered by an introductory bonus. Keep in mind that these two perks are also unlikely to be used in full every year, because few people buy a new phone every year.

The Scotia Momentum provides you 10.00% cash back immediately on everything you buy and is simply the best cash back perk in the market right now. This doesn’t even account for the first year’s annual fee exemption and competing with this kind of value means providing perks that can stack up against $300 of effective value. That’s tough for banks, but for cardholders like us it’s great. Again, we appreciate your input and agree that for certain people, the Meridian card is indeed better. Our only concern is which card is best for more people—our game is a game of averages, and on average, the Scotia Momentum Visa Infinite card is superior.

GreedyRates

Dwight Chang says:

Hi

So if I spend stuff that earns 1 percent. Does that mean the bonus rate is 9 percent for the first 3 months ???

The GreedyRates Team says:

Hey Dwight!

Great question. The Scotiabank Momentum Infinite card now has what is likely the best cash back promotion in the country, but the way it works can be confusing. We’ll try to clear that up for you. Basically, everything you buy with the card earns 10.00% cash back during your first three months, but the way that you receive your cash back is split into two milestones. You’ll receive the normal rate of cash back for the relevant purchase category immediately, and then the remainder of the 10.00% on a short delay.

Here’s an example: Let’s say you’ve just received the card and decide to go buy groceries during the promotional period. You spend $500, and the card’s normal rate of cash back for groceries is 4.00%, but this time it’s 10.00% and you earn $50 in cash back. The portion of your cash back coming from that standard 4.00% ($20) is deposited to your account per usual (within the statement period). The promotional portion of your cash back, which was the 6.00% on top ($30), is deposited to your account within 2-3 statement periods.

Also remember that your limit on promotional cash back is $200, so regardless of what you’re spending on, once you accumulate $200 in cash back during the promotion, rates return to normal levels. Enjoy!

GreedyRates

Dwight chsng says:

Let me get this straight ..

If I spend my purchases that earn 1%..ill earn 9% for the first 3 months …then the 1% is paid out in November ??

The GreedyRates Team says:

Hi Dwight,

Here’s how the Scotiabank Momentum Visa Infinite card’s new promotion works. You earn 10.00% total on every purchase category for your first 3 months, but the way that the cash back is paid out is staggered into two steps. According to Scotia, you’ll receive the normal amount of cash back on the normal schedule, depending on the relevant purchase category, and then the remaining portion of bonus cash back later for a total of 10.00%.

For example, the card’s normal rate of cash back on “everything else” is 1.00%, as you mentioned. This means that all “everything else” purchases made during your first 3 months earn 10.00% cash back as advertised, but 1.00% of what you’ve earned (the standard rate) will be added to your account during the next month. The rest of this cash back (9.00%) takes a little longer, so you’ll see it in your account 1-2 months after the first cash back credit.

This unique cash back schedule also applies to the other purchase categories. For a grocery purchase during the promotional period, you’ll see 4.00% cash back come normally, and then the difference between the normal rate and 10.00% (6.00%) 2-3 months after the purchase (1-2 months after receiving the first part). Hope that clears it up!

GreedyRates

Javi says:

Hello
We want to find a good cash back card for my business with purchases made a construction wholesaler such as Eecol
What would you suggest

The GreedyRates Team says:

Greetings Javi,

Thanks for your interest in business credit cards that offer cash back. Keep in mind that firms will often purchase millions of dollars in various materials, so making it easy for cardholders to earn rewards or cash back on the entire array of a business’s expenses would quickly put banks out of business. This is why the highest earnings rate of 1.50% on cards like the BMO CashBack Business Mastercard is only for internet, phone, and recurring bills purchases. It also offers 1.75% cash back on gas and represents what is likely the best card option for you. With just 0.75% cash back on all other purchases, you’ll still earn a decent cash back rate on the construction supplies you require for your business. If you spend $10,000 per month on construction supplies, for example, then that 0.75% means $75 cash back or $900 in your first year. You could throw a great company party with that size budget!

However, we always recommend that applicants call ahead to ensure that their most important expense will be 100% eligible for cash back. This is the only cash back card we know of that is specifically for business. You might be able to get better results from a non-business card that has a higher all-purpose cash back rate but be wary that if some banks won’t like it if you use their retail credit cards for business purposes—so this is another aspect to check out.

GreedyRates

Serge Dore says:

what about amazon purchases

The GreedyRates Team says:

Hey Serge,

Thanks for your interest in the Scotia Momentum Visa Infinite Cash Back card. If you’re looking for a card that offers a great earnings rate on Amazon purchases, you’re probably better off with something like the Rogers World Elite card, which collects cash back on everything at 1.75% (even Amazon purchases), and then 4.00% on purchases made in a foreign currency. Many merchants on Amazon are from the United States, you’ll find, so with a card like the Rogers World Elite, buying from these merchants means 4.00% cash back. This covers the 2.50% foreign transaction fee, netting you 1.50% on top and greatly widening the array of worldwide merchants you can order from.

The Momentum Visa Infinite by Scotiabank is alright, but it will only earn cash back at the base rate of 1.00% on Amazon purchases. If you happen to order from an international merchant, then you’re paying 1.50% extra (2.50% in foreign transaction fees plus the 1.00% cash back). The Scotiabank card is largely for groceries and gas purchases, so if these are your primary spending categories and you order from Amazon occasionally, it’ll be better than the Rogers card in this circumstance. Thanks!

GreedyRates

John says:

The Rogers card now offers only 3% rebate on foreign transactions, not 4%.
This 3% rebate has been in effect for about a year.
That means that after your foreign transaction fee of 2.5% is deducted from the 3% rebate, you have cleared 0.5%, not 1.5% as in previous years.

The GreedyRates Team says:

Hi John!

Great reminder. We’ve updated all the information on Rogers’ great foreign-fee-avoiding Mastercards back when their promotions changed. The Rogers Platinum Mastercard still represents a great tool for travellers as it once did, and it covers the 2.50% foreign transaction fee by awarding 3.00% (not 4.00%–that rate is reserved for the superior World Elite Mastercard) on all purchases made in a foreign currency. This includes online purchases as well. Cardholders earn 1.25% on purchases made in Canadian dollars.

If you still want to net 1.50% after the foreign purchase, grab the Rogers World Elite Mastercard. We still recommend this as one of the best tools for travellers, because it offers 4.00% cash back on top of the 2.50% fee, and then 1.75% on purchases made in Canadian dollars. Moreover, both of these cards have no annual fee, though the World Elite card does require applicants to show at least $80,000 personal annual income. Thanks again.

GreedyRates

Ron Cote says:

Does Walmart qualify for the 4 percent Cashback?

The GreedyRates Team says:

Greetings Ron!

Thanks for the great question. When you’re using credit cards that have a required purchase category for spending to accrue rewards at an accelerate rate, it can sometimes be confusing which stores are eligible and which aren’t. There are several factors to consider, namely, which card network are you a member of? Which store are you in? Are you purchasing an item from within a grocery store that isn’t considered a grocery item?

Thankfully for you, you’re holding a Visa card, which considers Walmart Supercentres in Canada to be in the grocery category. When you’re buying grocery items from a Supercentre, that means that you’ll earn 4.00% if you pay with your Scotia Momentum Visa Infinite card. As always, let us know if you need further information or assistance and we’ll be happy to help.

GreedyRates

Ron Cote says:

Thanks, as well would Costco gas in the US qualify for the 4 percent as well?

JustSoYouKnow says:

Did anyone is real person here who read terms and conditions ? Recurring bill payments are to be considered as Cash Advance with 20 %interest , and 2% cash back . 20-2=18% on every $200-300 each month , one can be paying as much as $500 in interest over the year !

The GreedyRates Team says:

Hi JustSoYouKnow,

Thanks for coming to GreedyRates. If you’re worried about recurring bill payments being considered ‘cash-like transactions’ and therefore subjected to higher interest payments, then have no fear. We’ve also dug into the terms and conditions for Scotiabank’s Momentum Infinite Visa card, and see that the bank defines cash-like transactions as “wire transfers, foreign currency, travellers cheques, money orders and gaming chips.” Recurring bills are essentially the same as any other purchase, and are subjected to the same interest rate as purchases—19.99%.

In other words, if you pay your bills on time and don’t carry extra balances from month-to-month, then there’s nothing to worry about. If this doesn’t describe you, then this isn’t the card to get. Cardholders who anticipate carrying part of their balance should consider a card with lower default interest rates, such as the RBC Visa Classic Low-Rate Option, which charges 11.99% on purchases and cash advances. The Amex Essentials card is similar, offering 8.99%, and a 1.99% interest rate deal for balance transfers. These might be better for you.

If you’d like any more suggestions, let us know. We’ll be happy to assist.

Thanks again,
GreedyRates Staff

Robert Adams says:

is no frills an eligible grocery store for the 4% cash back?

The GreedyRates Team says:

Hey Robert,

Interesting question! This might take a little digging, but we’re happy to check it for you. It looks like No Frills Grocery is owned and operated by Loblaw, which we already know is eligible for the 4.00% cash back rate when using the Scotia Momentum Infinite card. However, this is no guarantee that purchases made at No Frills locations are eligible for the extra cash back. We went ahead to check Visa’s published list of eligible grocery, gas, and pharmacy brands in Canada, and discovered that No Frills is on the list—but only in the latter two categories. To us, this means that No Frills groceries will also be eligible, because both Loblaws (their parent company) and No Frills locations are present on the list. We’ve linked it for you below, so you can see which grocery stores in your area are eligible. You might even find some franchises that you didn’t know were Scotiabank partners, allowing you to expand the range of stores where you shop.

http://www.scotiabank.com/images/en/filespersonal/20600.pdf

Thanks for your post,
GreedyRates Team

Tekz says:

I’ve used this card for almost a year now and have earned $850 in cash back and with the first year annual fee waived then it was a no-brainer! Not only that, it has the best coverage for travel accident, medical, lost baggage, trip cancellation, & others when compared to other cards. I compared this side-by-side with MBNA Rewards World elite and that’s the closest to this card in terms of benefits with a $10 lesser annual fee but the insurance coverage doesn’t match the Scotia Visa Infinite card. I always pay my monthly statement on time and in full so never have to worry about the interest. I switched from a BMO Airmiles World Elite MC and didn’t regret as I found the “devaluing” of the Airmiles to be a rip off and just stopped collecting miles altogether.

Brad says:

Is it possible for you to do a comparison between this card and the Scotia Gold Amex? I have the Gold Amex and it has 4X points on grocery and selected gas options, among other things. I understand its not apples to apples since this is a rewards card while the Momentum is cash back but when redeeming on travel purchases that I’ve already spent I don’t lose out on any points exchange rate. Basically $1 spent on grocery, restaurant, etc is 1 point earned but I get 4X the points, then 10000 points equals $100 I can redeem. Just wondering if you apply your average monthly spend to both cards, which one works out better? Thanks

GreedyRates says:

Hi Brad, thanks for the request for a rewards comparison. Between the two Scotiabank cards you mentioned, the rewards equivalence is neck and neck. If you reference our Loyalty Rewards Bible, you’ll see that one Scotia point is worth about $0.01, while 1.00% cash back per $1 gives the same. However, the Gold Amex is a higher tier card than the Momentum and grants 4 points per $1. If you manage to spend a lot on gas, groceries, dining, and entertainment, you’ll earn the equivalent of $0.04 per $1. Remember that it is also an Amex, and will be accepted at fewer merchants.

What you can redeem for is where the crux of the issue lies. If you enjoy luxurious travel perks and rewards, then the Gold card is for you. Cash back is nice as well, because you can spend it on whatever you use the card for. In the end, the Gold card definitely wins, but either is a solid bet. Thanks again for reading!

GreedyRates Staff

cindy says:

Hi:
I just applied for the card. when I got this card almost 1 month ago, I spent almost 4000 $ when I check my balance, it showed cash back only 39$, but when I apply for the card the bank financial advisor told me. there is a promotion , first 3 month on everything is 6% cash back. that why I applied for the card.
I just want to know if still possible in November, I could get 240 $ cash back or just get 39$ cash back.? who can tell me?
Thanks

GreedyRates says:

Hi Cindy, thanks for stopping by. The cash back rate for Scotiabank’s Momentum Visa Infinite card is 4.00% on gas and groceries, 2.00% on pharmacy and recurring bills, and then 1.00% everywhere else. The promotion for 6.00% cash back ended a while ago, so you likely missed it if your card is just a month old. Even so, you must look at your statement closely to determine where you’ve earned cash back. There’s a chance that most of your purchases ended up in the category for which 1.00% cash back is awarded. Regardless, by November you’ll likely have more than the $39 in cash back that you’ve earned so far. How much is up to you, but cash back promotions won’t help you, as the card’s new promotion is simply an annual fee waiver, which you will probably receive soon. Make sure to use the card for all your gas and groceries, because this is where the cash back really starts to pile up! Thanks again and best of luck.

GreedyRates Staff

Jane lalonde says:

I’ve had this card for 2 years and Both years I received back over $4000 it’s great for those with a family and who drive alot

Daniel says:

Hi, I just got offer to get this card. We spent roughly 800$ on food in Superstore and some local european stores in Edmonton, a month, I also buy gas on Petro Canada…food, gas together with Bell, Shaw and car insurance we would spend yearly around 15k…doing basic math it pays triple at least to get this card, what would be the catch?
I’m not a fan of banks and credit cards, currently using only RBC signature rewards card but collecting points there it takes years and $$$…to get 500$ gift card or similar I need to collect 60 000 or 80 000 points and most stores they give you 1 point for 1$.

Any recommendations? Stay with RBC Signature or switch to Scotiabank?

And also, if I switch, will I have to open an account in Scotia or they can deposit cash back on RBC account?

GreedyRates says:

Hi Daniel, thanks for coming to Greedyrates. It’s easy to mistrust banks and credit cards, but with a little education you will quickly realize that for responsible cardholders, these tools will save immensely. With your spending, if you used the Scotiabank card and paid your monthly balance, you would earn a lot of rewards and significantly defray your expenses over time. The catch is that you MUST be responsible and pay your balance on time, or risk adding interest to the amount you owe.

We recommend getting the Scotiabank Momentum Infinite card, as it represents a big step up from the RBC Signature card you currently hold. You will earn much more and also get an impressive bonus from Scotia. We’re not sure if you’ll need to open a new Scotia account in order to accrue rewards: some banks will require this and some do not. In the cases where you do not have to open a bank account, the issuer will simply give you a “rewards account”. Call Scotia and find out – it should be quick, as their representatives are really on the ball. Good luck saving!

GreedyRates Staff

Daniel says:

Problem being is not that I don’t trust banks, but rather that I don’t like banks.

Thank you

Caroline says:

This is great card as noted. However, there are two things I have just realized. #1 if you make any returns, it always comes out of their 4% bucket (and no one has gotten back to me in a month with a response to the email I sent with all the evidence). #2 if you are a scotiabank customer and happen to transfer payments to the visa (vs. A bill payment), it actually nets down your purchases for the month. Both of these items make no sense and work to reduce your rebate. So beware. I will be escalating bc the impact thus far is upwards of $500 on my account.

sean rays says:

Hello
Scotia bank MasterCard is one of worst card even if you pay partial balance on time !!!
they charge almost %66 interest charge!! have second look at your statements please..

GreedyRates says:

Hi Sean, we’re so sorry to hear that you’re having a bad experience with Scotia. The way you’ve described your issue makes it difficult for us to determine what the problem might be. The card’s interest rate is 22.99%, and if you’re being charged more, only a bank representative will know what the issue might be.

If you could, please let us know your resolution, so we can make necessary changes to our published articles. Thanks and good luck.

GreedyRates Staff

Georgina Jones says:

I NEED TO RESET MY PIN # Help please

GreedyRates says:

Hi Georgina,

Have you tried calling Scotiabank’s customer service line? 1-888-882-8958

We hope that helps,

GreedyRates Staff

Georgina Jones says:

I HAVE FORGOTTEN MY PIN FOR MY CARD. WHERE CAN I GO TO SET IT?

GreedyRates says:

Hi Georgina,

If you’re referring to the Scotia Momentum card, we suggest you call the following number at Scotiabank: 1-888-882-8958

They can help you with recovering your pin #.

Hope that helps,

GreedyRates Staff

Joyce says:

How can I cancel the card? Can i still get the rebate?

GreedyRates says:

Hi Joyce,

You can cancel the card any time by calling Scotia. You will not be charged the annual fee, regardless of when you cancel the card.

GreedyRates Staff

Shawn says:

Say if my outstanding balance is less than the credit statement, will they transfer the whole amount or only the portion that covers the outstanding?

GreedyRates says:

Hi Shawn,

You can only transfer up to your credit limit.

GreedyRates Staff

Declined to pay my cash back. says:

Please be aware of this issue.

I called today asking that they cancel the $100.00 fee as I don’t take advantage of all of the card benefits. Scotia Bank refused to cancel the fee so I asked that they cancel the card, they agreed to cancelling the card. When I inquired about obtaining the $60.00 cash back that I had earned through out the year they refused. They stated that they pay this money November and since I am cancelling the card prior to November then I am out the money.

This is a great way for this credit card company to keep you paying the annual fee. When you go to cancel the card they refuse to pay you the cash back that you earned.

Lesson learned for next time…..I would not suggest getting this card for this reason……

GreedyRates says:

Hi BatJuice,

That is a little bit of a less than transparent technique for Scotia to retain customers. Although the fact that it only redeems once per year at the end of the year is clearly written. That said, there are several other credit cards that offer more cash back flexibility, which will hopefully pull Scotia in-line.

The new Tangerin no fee cash back card, automatically applies your cash back against your statement EVERY month, or you can instruct them to deposit the cash EVERY month automatically in your Tangerine savinga account. (no fee, 2% cash back in up to 3 categories, 1% everywhere else – currently has 4% cash back in your chosen categories for the first 90 days).

With the MBNA Rewards World Elite card, you can redeem your points for cash back in $50 increments. You can have them mail a check to you, apply it as a statement credit, or deposit it into your bank account. (no fee first year, 2% cash back on ALL spend, $100 welcome bonus).

Hope that helps.

GreedyRates Staff

Catalin says:

I forgot to pay last month and they charged me $50 interest. I shall probably get another ~$15 interest in the next statement. I called and asked for forgiveness but they did not want to waive the charge. I am going to cancel the card and lose about ~250 in cashback for Jan-April. But for my piece of mind it is worth. PC Financial always waived interests when I was late.

GreedyRates says:

Hi Catalin,

First of all, we would receommend you call back and escalate the issue, after you’ve threatened to leave. Second, since you’ve already paid your annual fee, why not keep the card until November and redeem your $250 in cash back then?

GreedyRates Staff

Jodie says:

I too was going to cancel my card to avoid paying the annual fee, when they told me I would lose over $400 of cash back. The Scotia employee told me to keep it and that they will pro-rate the annual fee for the portion of the year that you used it until November. For me, that was 3 months so it was worth it in order to get my $400. I suggest giving them a call and seeing if this is a general thing they do, or if she told me this only because I expressed this as a serious concern. Although, it isn’t November yet, so let’s see if they stick to their word.

Jenny says:

when do they pay out the sign-up bonus of $100?

GreedyRates says:

Hi Jenny,

The Scotia Momentum Infinite Visa applies your cash back in November of each year.

GreedyRates Staff

C fremont says:

Any gas station or grocery store?

GreedyRates says:

Hi Caroline,

Here’s a list of some of the more popular merchants in the program. It’s pretty comprehensive. Technically, the merchants included in the program are determined by SIC code assigned to each merchant by VISA. It’s grocery stores that have the SIC code 5411, gas stations with SIC code 5541 & 5542 and drugstores with SIC code 5912. Wal-Mart is notably left off the list.

GreedyRates Staff

Phil says:

I see the list is for the 2% return but do you know where the list is for the 4% returns?

thanks

GreedyRates says:

Hi Phil,

It’s the same list.

GreedyRates Staff

Aaron says:

Fantastic list! Thanks. Considering this card. But I live right near a Freshco. I notice Freshco is not on the list but Sobeys. Sobeys owns Freshco. Would Freshco be considered a 4% grocery place?

GreedyRates says:

Hi Aaron,

Just because a grocery store is not on the list, doesn’t mean it’s not eligible. If the grocery store falls under SIC code 5411 with Visa, then the 4% cash back will be applied. A little digging on Google suggest Frescho does indeed fall under 5411, but we can’t guarantee it.

Hope that helps,

GreedyRates Staff

Patrick says:

When do they pay the the cash-back.
At end of year or at the end of the 12 months period.

GreedyRates says:

Hi Patrick,

Cardholder terms state your cash back “is awarded at the end of each 12 month period as a credit on your November statement.”

Hope that answers your question.

GreedyRates Staff

Chao says:

IS that true that I can got the sign-up bonus for activating the card or after first pruchase?

GreedyRates says:

Hi Chao,

To be eligible for the welcome bonus, you have to spend $500 within the first 90 days of being approved. The promotion ends Feb 29th.

GreedyRates Staff

Sara says:

is the annual fee waived for the first year or not? am confused

GreedyRates says:

Hi Sara,

The annual fee is not waived currently. Scotia has added a $100 welcome bonus instead. Same effect. Annual fee waiver is worth $99. Bonus worth $100. Scotia is probably just testing to see which offer consumers respond to more. Sorry for any confusion.

GreedyRates Staff

Meilan says:

Can I apply for a joint visa card online, and still receive the $100 bonus? Also, can the reward be deposited to my line of credit account (Scotia Line)?

GreedyRates says:

Hi Meilan,

The $100 bonus is for the primary cardholder only. It is structured as a statement credit on the Momentum card. It can’t be transferred to your Scotia line.

Best,

GreedyRates Staff

Scotiabank member says:

You can redirect it to your Scotiabank account and then transfer yourself to the line of credit.

Jen says:

Can anyone tellme which scotiabank account I need to have to receive the cash directly deposited into my account?

GreedyRates says:

Hi Jen, the cash back rebate can be deposited into any personal checking account, once per year in November.

Best,

GreedyRates Staff

Jen says:

Hi, thanks for answering my question regarding the cash back scotiabank visa. I have looked into scotiabank chequing accounts, and they all have fees to them..I currently have no fees at my online bank. I guess I need to open a scotiabank saving accounts as they have no fees on them.thanks for letting me know.

GreedyRates says:

Hi Jen,

Our pleasure. One thing though, our understanding is that Scotia’s cash back redemption is only deposited into Scotia’s checking accounts, not savings accounts. Regardless, if that does not work for you, they will apply your cash back as a statement credit to your credit card statement once a year in November as well – which avoids you having to get a Scotia bank account, while still getting the same value.

Best,

GreedyRates Staff

stephen tran says:

I have had this card for 5 months and it has been a “Nightmare” to try and get Scotia Bank to set up a reminder Alert email to let me know when it’s time to pay. I have been getting Interest charges for the last 3 months and their customer service is telling me that they are having the Alert setup email problem. How come Amex and MasterCard doesn’t have this issue? I’m beginning to think this is how they get their profits through interest charges. Needless to say, I’m going to stop using this card and am NOT recommending anyone apply for this card until they get this problem resolved. I’ve visited their branch 2 x, sent numerous emails and call in every month and they still cannot resolve this issue. Unbelievable!

Sensical Guy says:

If you get paid every two weeks, how about using that as a reminder to make a payment. If you don’t want to carry debt on the card, then keep it paid off more frequently. Most importantly, if it pisses you off you should probably just get better about remembering it yourself. How about using modern technology to set your own reminders?!

Seems like a bad reason to denounce the card. Misplaced blame in my eyes.

jaymie says:

Hello: I would like to say I have had a Scotiabank cash-back card for many years and have not paid a penny of interest. I write my due date on my calendar for a reminder and pay off the complete amount every month by the due date. I do not put any more on my Credit Card than I can pay off completely every month.

jaymie

MDK says:

Same here and when you’re card is renewed they wipe out the alerts without telling you even though it’s the same account. Paper statements aren’t an option becaue they seem to arrive late every other month. Other banks don’t have issues with this kind of statement notification so they are either incompetent or trying to lure customers into missed payment dates.

Aaron says:

What about email notification of purchases. RBC and TD Visa can be set to email you a record of each purchase right when you purchase (within a few min). RBC also shows you Pending purchases online. Does this Scotiabank Visa offer this too? (pending purchases and email notifications?)

GreedyRates says:

Hi Aaron,

Unfortunately not. For Scotia’s Visa cards you can get mobile alerts for:

– Purchases above an amount you choose
– Purchases without the VISA card present (e.g., via online, telephone)
= Transactions outside of Canada
– Bill payments
– Minimum payment due for VISA or Line of Credit
– Credit limit almost reached on VISA or Line of Credit
– Missed payment on VISA or Line of Credit
– Account balance goes above or below a specific amount
– Current account balance
– Last five transactions

Hope that helps,

GreedyRates Staff

Louisa Kooneeliusie says:

I would like to apply for cash back visa card please

John Huckley says:

Then what’s stopping you?