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Attention MoneyWise readers! Sign up for the Scotia Momentum® VISA Infinite* card and, for a limited time, get $75 IN CASH via Interac e-Transfer or a gift card from RATESDOTCA upon approval!

Are you looking for a well-rounded, high-earning cash back credit card with travel perks and no annual fee for the first year? Who wouldn’t?

Enter the Scotia Momentum® VISA Infinite* – a credit card chock-full of features that can help you save money and make your life easier in a number of ways. While it may not earn any actual travel rewards, it offers the opportunity for a lot of cash back if used to its full potential – cash back that you can use towards whatever you so please.

The card also comes with some luxurious options only available to VISA Infinite* cardholders that can help enhance your travel experiences. There are also a number of travel insurance benefits and it’s eligible for Apple Pay, making it one of the best reward credit cards on the market today. It even won the Best Rewards Card award at our Best of Finance awards last year.

In order to qualify for the card you must:

  • Be a Canadian resident or a permanent resident.
  • Be the age of majority in your province or territory of residence.
  • Not have filed for bankruptcy in the past seven years.
  • Have an annual gross individual income of at least $60,000 or household income of at least $100,000.

The card carries the standard interest rate of 19.99 per cent, along with a 22.99 per cent rate on all balance transfers and cash advances. It also features a $99 annual fee, and though an excellent credit score is needed to qualify, those with no credit history in the country (newcomers to Canada) are also encouraged to apply for the card.

Sign-up Bonus: Average

The Scotia Momentum® VISA Infinite* card has an annual fee of $99, however, accounts opened before June 30, 2018 get the initial annual fee waived for the primary and supplementary cards.

It should be noted that this annual fee waiver offer only applies to new Scotiabank customers. That means if you currently bank with Scotiabank or had an account in the past but have since closed it, you are ineligible for the annual fee waiver.

While the annual fee waiver is, indeed, a money-saver, this is the only sign-up bonus that comes with the card, making it an average bonus for new cardholders.

Earning Potential: Excellent

The Scotia Momentum® VISA Infinite* card earns:

  • Four percent cash back on all eligible gas station and grocery store purchases.
  • Two percent cash back on eligible drug store purchases as well as recurring bill payments.
  • One percent cash back on all other eligible purchases.

The ability to earn cash back on recurring bill payments is definitely a special feature. Basically, you get rewarded for paying your bills on time. It’s a nice touch not typically offered by many other card vendors.

But note that you can only earn four per cent and two per cent cash back on purchases at eligible vendors that accept VISA up to first $25,000 you spend annually. After you surpass this limit, you will only earn one per cent cash back on any eligible purchase you make with the card.

So how does this card stack up to other rewards options? We crunched the numbers using our Best of Finance methodology to see how much you could earn over a 24-month period.

Assuming $1,119.58 is spent on the card monthly at eligible vendors in the following categories*:

  • Pharmacy: $54.16
  • Food: $665
  • Gas**: $152.42
  • Travel: $148
  • Other: $100

Cash back earned over a 24-month period: $870.24

Total (subtracting annual fee):  $771.24

That’s enough cash back to buy a round trip plane ticket to a sunny island destination! In comparison to many travel reward cards where it takes several years to earn enough points for a plane ticket, this cash back card could actually be a quicker route to your dream vacation.

Reward Redemption: Average

The cash back earned with your Scotia Momentum® VISA Infinite* card will show on each of your monthly statements, year-to-date.

The cash back accumulated will be awarded to your account as a credit on an annual basis, and will automatically appear on your November statement. After that, your cash back earned will reset to $0.

Benefits: Excellent

The Scotia Momentum® VISA Infinite* card gives you exclusive access to private dining experiences and VIP lounges at music events with the VISA Infinite* Dining Series and VISA Infinite* Music Series. Cardholders can also get complimentary wine tastings, private vineyard tours and discounts on wine purchases at over 60 wineries in British Colombia and Ontario.

You also get 24/7 concierge offering complimentary personal assistance in planning your trip, restaurant reservations, accommodations, or concert ticket purchases.

When travelling, you can also enjoy the best available rate at luxury hotels, as well as an automatic room upgrade when you check in, and free Wi-Fi in your room.

You can also take advantage of up to 25 per cent off base rates on Avis® or Budget rentals in Canada or the U.S. when you pay for your rental with the card.

Insurance: Good

The Scotia Momentum® VISA Infinite* comes with complimentary insurance coverage to support you in case of certain emergencies. Coverage includes:

  • Purchase protection insurance and extended warranty
  • Out of province / out of country emergency medical insurance up to $1-million for first 15 consecutive days for those under 65
  • Travel accident insurance
  • Trip interruption insurance
  • Flight delay insurance
  • Delayed and lost baggage insurance
  • Rental vehicle collision loss/damage insurance

Remember, coverage can be voided due to pre-existing conditions, and certain conditions and requirements apply.

This post has been updated.


The RATESDOTCA editorial team are experienced writers focused on sharing stories and bringing you the latest news in insurance and personal finance. Our goal is to provide Canadians with the information and resources they need to make better insurance and financial decisions.

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