Scotiabank
Enjoy up to 4% cash back on categories like groceries and recurring bills, with a $120 annual fee waived in your first year. Flexible reward redemption and premium perks.
Scotia Momentum Visa Infinite: Key Details
The Scotia Momentum Visa Infinite card is designed for Canadians who want to maximize everyday rewards while enjoying valuable perks. Cardholders earn 4% cash back on groceries and recurring bill payments, 2% on gas and transit, and 1% on all other purchases. The standard annual fee is $120, but it’s waived in the first year, making this offer particularly attractive for new applicants.
The card comes with an interest rate of 20.99% on purchases and 22.99% on cash advances. While there’s no specific minimum or maximum credit limit published, eligibility typically requires a good credit score and a personal income of at least $60,000, or a household income of $100,000 or more.
By offering attractive cash-back rates and travel protection, the card stands out as a versatile option for both daily spending and larger purchases. Cardholders can also access exclusive Visa Infinite benefits, such as travel insurance, purchase protection, and concierge services.
If you consistently pay the balance in full, you’ll maximize rewards without worrying about interest charges diminishing your cash back. Additionally, new users can take advantage of a generous introductory offer of up to $200 cash back when meeting minimum spend criteria in the first three months.
This comprehensive package makes the Scotia Momentum Visa Infinite a top choice for cash-back enthusiasts seeking solid rewards and premium benefits, all with the added bonus of a fee-free first year.
Step-by-Step Application Process
Applying for the Scotia Momentum Visa Infinite is simple and convenient. Start by preparing your personal details, such as address, income, and employment information. You will also need your Social Insurance Number for verification purposes.
Visit the Scotiabank website and locate the application for the Scotia Momentum Visa Infinite card. Complete the online form by entering all requested details accurately.
Submit the completed application and wait for an instant decision. If additional information is required, Scotiabank may contact you for verification.
Once approved, you’ll receive your card in the mail, typically within five to seven business days. Activation instructions will be provided, allowing you to start using your card right away.
Be ready to fulfil any minimum spend requirements to qualify for the welcome cash-back bonus and begin maximizing rewards on your purchases.
Pros: Exceptional Cash-Back and Perks
The key advantage of the Scotia Momentum Visa Infinite is its high cash-back potential. Earning up to 4% on recurring essentials like groceries and bills means meaningful rewards without changing your spending habits.
The waived annual fee for the first year enhances value right from the outset. In addition, cardholders enjoy extensive insurance coverage, including travel medical and rental car protection.
Another strength is the flexibility in redeeming your cash-back rewards. Redemptions are straightforward and credited as a statement adjustment, making it hassle-free.
The Visa Infinite program grants access to premium benefits such as exclusive experiences and personalized concierge services, elevating your day-to-day financial experience.
If you meet the income criteria and pay your balance in full, this card offers a powerful combination of rewards, security, and convenience.
Cons: Eligibility and Spending Caps
Despite its strengths, the Scotia Momentum Visa Infinite comes with a few considerations. The minimum income requirement may make it inaccessible for some applicants.
There are spending caps on bonus categories, so if you exceed these limits, your earn rate drops to the base 1% tier. Heavy spenders might find this limiting.
The standard interest rate is relatively high, so carrying a monthly balance can quickly offset any rewards earned, making it best suited for those who pay in full.
Redemptions are only processed once annually, in November, which may be less convenient for users wanting more frequent access to their cash back.
Finally, supplementary cards also count towards category caps, so households with multiple users should monitor their total spend closely.
Verdict: Strong Choice for Everyday Rewards
For Canadians seeking to combine high cash-back rates with premium perks, the Scotia Momentum Visa Infinite offers exceptional value, especially with the first-year fee waived.
This card is ideal for those who spend significantly on groceries, bills, transit, and gas, and can consistently pay off their balance. The insurance package adds strong peace of mind for travelers.
Potential applicants should ensure they meet income eligibility and have spending patterns aligned with the major bonus categories to fully unlock the potential benefits of this card.
If you meet the criteria, the Scotia Momentum Visa Infinite is a compelling choice to maximize your everyday purchases and enrich your financial well-being.
Start your journey to meaningful cash back rewards and robust cardholder perks with this top-tier Canadian credit card offer.
