Credit Card Overview
Annual Fee
This Scotia Momentum® VISA Infinite* Card has an annual fee of $120. However, the annual fee for the first year is $0.
Rewards
You get 10% cashback (up to $2000 total purchases) for the first three months. There is no annual fee in the first year for the primary card and all supplementary cards.
Welcome Offer
By holding this card, you can receive a welcome offer value of $350 from Scotiabank!
Insurances
The cardholder is eligible for comprehensive travel insurance and new mobile device insurance coverage.
Perks
24/7 Complimentary Concierge Services, Visa Infinite Dining Series, Visa Infinite Music Series, Wine Country Wonders, and Luxury Hotel Privileges all come included with this credit card.
Interest rate
The card charges 20.99% on purchases, 22.99% on cash advances, and balance transfer.
Your Credit Card Details
The Scotia Momentum® VISA Infinite* Card charges $120 per year. However, it has a $0 annual fee for the first year. Plus, there is no annual fee for supplementary cards in the first year as well. It is available to anyone having an excellent credit score (750-900). The card charges 20.99% on purchases, 22.99% on cash advances, and balance transfer. The minimum credit limit is $5,000. Being from the reward category, the card brings you many cashback offers as well as other privileges.
You get 10% cashback (up to a total purchase of $2000) for the first three months, provided you open the account by Aug 31, 2021. Besides this, the cardholder gets 4% cashback on eligible recurring bill payments and grocery store purchases, 2% cashback on eligible gas stations and daily transit purchases, and 1% cashback on all other eligible purchases. This doesn’t stop here. Holding this card, the cardholder gets to have exclusive experiences like special dining with some of the biggest names in the culinary world, advanced entertainment (access to VIP music events), travel benefits, and many more await you. Your travel and the smartphone purchased with the card are covered. To know more benefits in detail and the conditions applied, click on ‘Apply For This Card’.
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Legal & Trademarks
* All product names, logos, brands, trademarks, and registered trademarks are the property of their respective owners. All company, product, and service names used in this website are for identification purposes only. Use of these names trademarks, and brands does not imply endorsement.
All other trademarks cited herein are the property of their respective owners.
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1 The 10% Cash Back and First Year Annual Fee Waiver Offer (the “Offer”) applies only to new Scotia Momentum® Visa Infinite* credit card accounts (“Accounts”) that are opened, and any supplementary Account cards issued, by August 31, 2021 and is subject to the below terms and conditions. All other terms and conditions of the Program Terms continue to apply during the Offer period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer
10% Cash Back Offer Description and Conditions: You will earn 10% 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, Scotia® Credit Card Cheques or 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 “Cash Back Program Rate”) described in the Scotia Momentum Visa Infinite Cash Back Program Terms and Conditions (the “Program Terms”). The 10% cash back rate for any category is made up of the sum of: (i) the regular Cash Back Program Rate (variable by categories as set out under the Program Terms); and (ii) a “Cash Back Bonus Rate”. Cash back earned under this Offer will be credited to your Account in 2 instalments so long as your Account is open and in good standing at time of payout of each:
1. Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within 7 months from the Account open date; and
2. Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under the Program Terms.
The Account is considered in good standing if it is not delinquent (past due) or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.
during the Promotional Period. If you make $2,000 in eligible everyday purchases in the Groceries and Recurring Payments category, your cash back earnings will be credited to your Account as follows:
(1) the Cash Back Bonus earnings of $120 (6% x $2,000) (which will not be tracked on your monthly statements), will be credited to your Account within 7 months from the Account open date, and (2) the Regular Cash Back earnings of $80 (4% x $2,000) (which will be tracked on your monthly statements), will be credited to your Account as per the regular cash back payment schedule (i.e., November).
Annual Fee Waiver Offer Description and Conditions: We will waive the initial annual fee for the primary card and each additional supplementary card on the Account for the first year only.
Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Rates and Fees: The current annual fee is $120 for the primary card and $50 for each additional supplementary card. The current preferred annual interest rates for the Account are: 20.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). All rates, fees, features and benefits are subject to change.
†Based on a first year annual fee waiver of $120 for the primary card, $50 for one supplementary card, and a potential bonus cash back earning of at least $180 during the Offer period assuming a minimum spend of $2,000 at the lowest possible cash back earn rate under the Program of 1% (i.e., Cash Back Bonus Rate of 9% x $2,000). Actual value will vary based on number of supplementary cards issued for the Account and individual category spend in the first 3 months. See full Offer terms and conditions above.
Terms & Conditions
The detailed terms and conditions for this credit card can be found on the website of the financial institution that is offering this credit card. When you click the “Apply For This Card” link you will be redirected to the respective financial institution’s website where you can in detail read all of the respective terms, conditions, and additional details related to this credit card before you apply for it. Including details for any promotional offers if any that are currently being offered on this credit card.
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