Scotiabank
Up to 10% cash back for 3 months, $0 annual fee first year, $120 after. 20.99% purchases, flexible rewards, strong welcome bonus, top Canadian option.
The Scotia Momentum Visa Infinite card stands out for Canadians interested in maximizing everyday rewards. With its current introductory offer, cardholders can earn 10% cash back on all purchases for the first three months, up to $2,000. The card features no annual fee for the first year, after which a $120 fee applies. The ongoing interest rate is 20.99% for purchases and 22.99% for cash advances.
How to Apply for Scotia Momentum Visa Infinite
- Check eligibility terms based on Canadian residency, income or assets.
- Gather personal and financial documents for a smooth application.
- Visit the Scotiabank website’s credit card section to begin your application.
- Complete all required steps, selecting “Visa Infinite” in the card options.
- Submit your application and wait for a response via email or phone.
Key Benefits of Scotia Momentum Visa Infinite
This card’s leading feature is its high introductory cash back rate, exceptional for new users with major purchases upcoming. Also, no annual fee in the first year allows for a risk-free trial.
The card includes comprehensive insurance benefits, often providing purchase protection and travel insurance. Flexible supplementary card options cater to families seeking to pool rewards.
Considerations and Drawbacks
The main downside is the $120 annual fee after year one, which may not suit those with lower spending or who prefer a no-fee card. The ongoing 20.99% purchase rate also means carrying a balance can quickly become expensive.
Additionally, approval requires meeting income requirements, making it less accessible for some applicants, such as students or part-time workers.
Verdict: Is This Card a Good Fit?
The Scotia Momentum Visa Infinite is well-suited for Canadians with substantial spending who want strong initial rewards and are willing to pay an annual fee after the first year. Its cash back and insurance offerings are competitive, but it’s important to pay balances in full to avoid high interest charges.
