Scotiabank
Earn up to 4% cash back, enjoy a waived first-year annual fee and get a welcome bonus of up to $200. Perfect for everyday spending and travel perks.
The Scotia Momentum Visa Infinite Card stands out for Canadians seeking exceptional cash-back rewards and practical perks. With a robust rewards program and travel insurance, it is popular for families and individuals alike.
This premium card offers up to 4% cash back on groceries and recurring bills, plus 2% on gas and daily transit. Even better, the $120 annual fee is waived for the first year, making it easier to explore all the benefits before committing.
Applicants must typically have a good to excellent credit score and meet minimum income requirements. Interest rates start at 20.99%, while the welcome offer can reach up to $200 in bonus cash for new cardholders.
How to Apply for the Scotia Momentum Visa Infinite Card
- Review your eligibility, including age, credit score, and income requirements before starting the application.
- Gather necessary personal and financial documents, such as identification and proof of income.
- Fill out the application form online or in-branch, providing accurate contact and employment details.
- Submit the completed application and await a decision, usually within minutes or a few business days.
- If approved, expect your new card by mail, then activate it to start earning cash back immediately.
Key Advantages
One standout advantage is the high cash-back rate of up to 4% in key spending categories like groceries and bill payments, allowing cardholders to maximize everyday purchases. The first-year fee waiver further sweetens the deal.
Additional benefits like travel insurance, purchase protection, and exclusive Visa Infinite perks provide peace of mind and extra value. Together, these features make this card a smart choice for frequent spenders.
Potential Drawbacks
While the rewards and benefits are impressive, the $120 annual fee (after the first year) can reduce overall value for light spenders. Paying the balance in full each month is crucial to avoid high interest charges at 20.99%.
Another consideration is the qualifying income requirement, which may limit accessibility for some applicants. Additionally, bonus rates are capped, meaning some purchases may revert to a lower rewards rate after a certain threshold.
Final Verdict
The Scotia Momentum Visa Infinite Card shines for Canadians who want solid cash-back returns and comprehensive insurance perks. If you spend regularly in eligible categories and can meet income criteria, this card is likely to deliver great ongoing value.
However, it may not be ideal for anyone with modest expenses or who can’t pay off balances entirely each month due to the annual fee and higher interest rates. Assess your spending habits to decide if this card fits your lifestyle.
