Scotiabank Momentum® VISA Card
Card highlights
Annual fee
Number of perks & insurances
Ratehub’s review
Natasha Macmillan
The Scotiabank Momentum® VISA Card is a solid low-fee cashback card that delivers consistent value on everyday essentials. With elevated earn rates on categories most Canadians spend heavily in, like groceries, gas, drugstores, and recurring bills, it’s an easy way to maximize rewards without paying a high annual fee. While it doesn’t come with premium perks or travel benefits, its simple cashback structure and balance transfer intro offer make it a strong contender for budget-conscious households.
Pros
- Strong everyday cashback categories: Earn 2% back on groceries, gas, drugstore purchases, and recurring bill payments – categories that make up a large share of monthly spending for most Canadians.
- Low annual fee with straightforward value: At just $39 per year, this card offers predictable savings with no complicated redemption rules. Cashback is automatically credited annually, making it a good set-it-and-forget-it option.
- Purchase assurance & extended warranty: These protections add extra peace of mind to everyday purchases, especially for higher-ticket items.
Cons
- Once-a-year cashback redemption: Cashback is only applied annually in November, which may feel restrictive compared to cards that offer flexible or on-demand redemption.
- No travel insurance or premium perks: Unlike some cards with similar fees, the Momentum VISA offers no travel coverage, no mobile device insurance, and no premium extras.
Rewards & bonuses
See what you could earn based on how you spend.
Earn rates
Monthly spending caps apply where shown. Rewards are earned on eligible purchases only, see the card’s terms for full details.
Your earning potential
First year reward
Based on spending $2,200/mo after $49 annual fee
Second year reward
Based on spending $2,200/mo after $49 annual fee
These numbers are based on estimations and the calculation breakdown below.
Adjust your spending
First year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- First year reward
Second year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- Second year reward
† Estimate calculated by Ratehub.ca and is based on current offers and a monthly spend of $2,200. It is for illustrative purposes only.
Perks & insurance
Perks and insurance coverage included with the card.
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
| Insurance | Details | |
|---|---|---|
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Not included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Not included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Details & eligibility
Fees
- Annual fee
- $49
Rates
- Purchase interest
- 20.99%
- Balance transfer rate
- 22.99%
- Cash advance rate
- 22.99%
Type
- Provider
- Scotiabank
- Card type
- Cash back
- Payment network
- VISA
Eligibility
- Minimum personal income
- $12,000
- Minimum household income
- N/A
- Minimum credit score
- 725+