Review: Scotia Momentum Visa Infinite
by May 9, 2018 / No Comments

When you hear the term “rewards credit card,” points, free flights and hotel stays typically come to mind. But there is another category of rewards that don’t get as much attention: Cash back rewards.

Cash-back credit cards refund a small percentage of every purchase you make on the card, either as an statement credit or cash in your bank account.

Depending on the card choose and your spending patterns, cash back rewards can be a great way to help save for a goal or to pay for purchases. Just make sure to pay your balance in full at the end of every month. Otherwise, you’ll be charged interest on your purchases that may outweigh any rewards you earn.

The Scotia Momentum Visa Infinite card ranks among the best cash-back credit cards in Canada for the strong returns it offers on household spending. With this card, you’ll earn 4% cash back for every $1 spent on gas and groceries (up to $25,000 annually — 1% cash back after that), 2% cash back for every $1 spent at drugstores and on recurring bill payments (up to $25,000 annually — 1% cash back after that), and 1% cash back on all other purchases.

The card’s $99 annual fee is waived for the first year for new accounts opened by February 28, 2019.

Scotia Momentum VISA Infinite


  • Annual fee: $99 (waived for first year)
  • Once welcome offer ends, earn 4% cash back on gas and groceries, 2% cash back on drug store purchases and recurring bill payments, and 1% cash back on all other purchases
  • Receive VISA Infinite benefits

The interest rate on this credit card is 19.99% for purchases, and 22.99% on cash advances and balance transfers. To qualify for this credit card, individuals need to have a minimum annual income of $60,000, or an annual household income of $100,000.

Cash back rewards are refunded annually, and can be applied to your credit card statement or deposited into an eligible Scotiabank chequing account or savings account. The card also includes a suite of travel insurance benefits: emergency medical and accident, trip interruption, baggage loss and delay, and car rental collision/loss insurance are included alongside the usual zero liability, extended warranty, and purchase assurance. Plus, as a Scotiabank credit card holder, you’ll be able to save 25% on car rentals at eligible AVIS and Budget locations.

With the highest rate of return on gas, groceries, recurring bills, and drugstore purchases, this is an ideal card for people who spend big in these categories — especially couples and families. Here’s an example of potential rewards using the following spending profile:

Item Monthly spending Yearly spending Cash back earned
Groceries $500 $6,000 $6,000 x 4% = $240
Gas $500 $6,000 $6,000 x 4% = $240
Pharmacy $200 $2,400 $2,400 x 2% = $48
Recurring bills $300 $3,600 $3,600 x 2% = $72
Everything else $500 $6,000 $6,000 x 1% = $60
Total $2,000 $24,000 $660

Here’s what your annual return will look like:

  Cash back earned Annual fee Total
First year $660 Annual fee waived for first year $660
Subsequent years $660 -$99 $561

Of course, your rewards will be different depending on your individual spending habits. To compare multiple cards side by side, plug your individual spending profile into’s credit card rewards calculator.

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