Scotiabank
Enjoy 10% cash back on all purchases for 3 months (up to $2,000), no annual fee first year, and premium perks. Earn while you shop smartly!
Introducing the Scotia Momentum Visa Infinite Card
The Scotia Momentum Visa Infinite offers an enticing 10% cash back on all purchases for the first three months, up to $2,000 limit, making it a strong contender.
This card has no annual fee for the first year, including supplementary cards. Afterward, the annual fee is $120, making it attractive for big shoppers.
The regular interest rate is 20.99% on purchases and 22.99% on cash advances, which aligns with most premium cards in Canada.
To qualify, individual income should be at least $60,000, or $100,000 as a household, or have $250,000 in assets managed by Scotiabank.
This card targets those who want significant cash back rewards with premium perks and aren’t deterred by a standard annual fee after year one.
How to Apply: Step-by-Step
First, check eligibility relating to income or total assets under management, as those requirements are not flexible.
Be sure to have basic financial details and identification ready for a quick application process.
Existing Scotiabank online banking customers can apply most efficiently after logging into their secured accounts.
New customers can submit their application online or visit a branch if necessary to complete details in person, especially if recently relocated to Canada.
Upon approval, you’ll receive the card by mail, after which you must activate your card before using it for purchases and rewards.
Pros: Why Consider the Scotia Momentum Visa Infinite?
The welcome offer of 10% cash back on up to $2,000 in spending is among the best for any Canadian cash back card.
No annual fee for the first year, including supplementary cards, means you can try out this premium card at zero cost for twelve months.
Cardholders earn ongoing rewards and benefit from premium perks such as concierge services, travel insurance, and purchase protection.
This card helps maximize returns for daily spending, especially for households with larger budgets and regular monthly expenses.
Convenient online management options and extra rewards for supplementary cardholders enhance value for families and couples.
Cons: Some Downsides to Consider
After the first year, the $120 annual fee may outweigh benefits for modest spenders or those not maximizing cash back categories.
The sign-up offer is capped at $2,000 in purchases, so spending beyond this will yield lower rewards during the introductory period.
The income or assets requirement may exclude some applicants who do not meet the premium criteria, limiting access for students or those early in their career.
If you frequently carry a balance, the 20.99% purchase rate and 22.99% cash advance rate could quickly erode cash back rewards.
Beginner cardholders or those preferring no annual fee cards might be better served by basic alternatives from Scotiabank or other providers.
Our Verdict
The Scotia Momentum Visa Infinite stands out for its substantial welcome cash back and premium perks, especially when the first-year fee is waived.
It’s best suited for higher-income earners who pay their balance in full and seek to maximize rewards from everyday spending.
Even after the welcome period, ongoing benefits can justify the annual fee for many cardholders, particularly for those with frequent purchases.
If you’re seeking premium cash back—and can manage the minimum requirements—this card is a top-tier choice among Canadian rewards cards.
Nevertheless, always compare your spending patterns and financial preferences before making a final selection on any cash back credit card.
