Overview of the Scotiabank Momentum® No-Fee VISA Card

• Minimum income $12K/yr
• Household income Any
• Recommended credit score 660+
• You are a permanent Canadian resident and have reached the age of majority in the province in which you live.

1 Offer Description and Conditions: The 5% Cash Back and Introductory 0.99% Balance Transfer Rate Offer (the “Offer”) applies only to new Scotia Momentum No-Fee Visa credit card accounts (“Accounts”) that are opened between July 2, 2026 and November 1, 2026 (regardless of the date you apply for the Account) and is subject to the below terms and conditions. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.

5% Cash Back Offer Conditions: You will earn 5% cash back on the first $2,000 in eligible purchases you spend on your new Account within the first 3 months of the Account open date (the “Promotional Period”). Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers and cash-like transactions), interest, fees or other charges. After the Promotional Period, you will earn regular cash back on eligible purchases at the regular cash back rate (the “Regular Cash Back Program Rate”) as described in the Scotia Momentum No-Fee Visa Cash Back Program Terms and Conditions (the “Program Terms”). The 5% cash back rate for any category is made up of the sum of: (i)) the Regular Cash Back Program Rate (variable by category as set out under the Program Terms); and (ii) a bonus rate that will vary depending on the Regular Cash Back Program Rate (the “Cash Back Top Up Rate”).

Cash back earned under this Offer can be redeemed to your Account, provided it is open and in good standing at the time of redemption
1. Bonus Cash Back: The amount earned under the Cash Back Top Up Rate will be available for redemption to your Account after approximately 5 months from the Account open date or otherwise in accordance with the Program Terms
2. Regular Cash Back: The amount earned under your Regular Cash Back Program Rate can be redeemed to your Account as described in the Program Terms .

EXAMPLE: If the Regular Cash Back Program Rate for the Groceries and Recurring Payments category is 1% then the Cash Back Top Up Rate will be 4% for that category so that you will earn a total of 5% on the amount of all eligible everyday purchases in that category during the Promotional Period up to a total of $2,000 in purchases. If you make $2,000 in eligible everyday purchases in the Groceries and Recurring Payments category, your cash back earnings will be as follows:
(1) the Cash Back Top Up Rate earnings of $80 (4% x $2,000) (shown as an adjustment in your monthly statements), and (2) the Regular Cash Back Program Rate earnings of $20 (1% x $2,000) (shown as cash back earned in your monthly statements).

Introductory 0.99% Balance Transfer Rate Offer Description and Conditions: The Introductory 0.99% Balance Transfer Rate Offer (the “BT Rate Offer”) applies only to eligible cash advances (including balance transfers and cash-like transactions) (collectively “Cash Advances”) subject to the conditions below. This introductory rate applies for 9 months from date of Account opening (the “BT Promotional Period”). After the BT Promotional Period, the promotional 0.99% interest rate on any Cash Advances (including any amount of those Cash Advances that remain unpaid after the BT Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 22.99%). A balance transfer fee of 2% of the amount of each Cash Advance transferred or made during the BT Promotional Period applies (minimum fee of $5.00).

This BT Rate Offer is subject to any Cash Advance limits on your Account. This BT Rate Offer is also subject to the approved credit limit that is being offered to you as of the date of this BT Rate Offer. This means if a balance transfer amount(s) requested exceeds your approved credit limit as of the date this BT Rate Offer was provided to you, it may not be processed. This BT Rate Offer cannot be used for any Scotiabank account including to transfer a balance from another Scotiabank account, or to make a payment or deposit to another Scotiabank account.

Losing your promotional rate: If we don’t receive the minimum payment on your Account by the payment due date on your statement, two consecutive times , you will lose the benefit of this promotional Rate Offer and the interest rates that apply on any unpaid balance will increase to the standard annual interest rates that apply to your Account (currently 25.99% on purchases and 27.99% on Cash Advances). All other terms and conditions of the Program Terms continue to apply during the Offer period.

How we apply payments: For Quebec residents: In general, if you have different interest rate(s) that apply to your Account, we apply payments to transactions based on the interest rate(s) that applies to those transactions on your Account (from highest to lowest rates). For non-Quebec residents: In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.

Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switched to an existing Scotiabank personal credit card are not eligible for the Offer (and subject to the above exclusions, individuals with a Scotiabank business credit card are also eligible for the Offer). By accepting this Offer you confirm you meet all Offer eligibility requirements. We reserve the right to revoke this Offer at any time if we determine you do not meet the Offer eligibility requirements, including after you have accepted the Offer or been approved for the Account.

Rates and Fees: There is currently no annual fee for the primary card and no fee for each additional card (including those issued to co-borrowers and supplementary cardholders). The current preferred annual interest rates for the Account are: 20.99% on purchases and 22.99% on Cash Advances. All rates, fees, features and benefits are outlined in the Application Disclosure Statement and are subject to change.