Scotiabank
Get 10% cash back on your first $2,000 in purchases over 3 months, no annual fee for the first year, and competitive rates. Premium perks for Canadian shoppers.
The Scotia Momentum Visa Infinite Card stands out as a top cash back card in Canada. New cardholders can enjoy 10% cash back on all purchases for the first three months (up to $2,000). This means up to $200 back, a great incentive for big purchases or everyday expenses.
After the introductory period, you’ll continue earning rewarding cash back on every purchase. The annual fee of $120 is fully waived in the first year, making it risk-free to try. The standard interest rate is 20.99% for purchases and 22.99% for cash advances. A strong household income or assets will help qualify, opening up greater benefits for those who meet the criteria.
Como se candidatar – Passo a passo
- Decide if you are an existing Scotiabank client or a new customer.
- Existing clients apply via online banking for convenience.
- New clients start the application process through the bank’s website, or visit a branch if new to Canada.
- Fill out the required forms, submit ID, and wait for approval.
- Receive your card and activate it for immediate use.
Principais vantagens
This card’s biggest appeal is the outstanding introductory 10% cash back rate. It provides significant savings right from the start, especially on larger purchases.
Additionally, not having to pay an annual fee in the first year means you can test the rewards and features with minimal upfront cost. This is perfect for new users wanting to maximize returns.
Principais desvantagens
The $120 annual fee does kick in after the first year, which may not be right for those seeking a long-term no-fee card. The incomes required can also be a barrier.
If you routinely carry a card balance, the 20.99% purchase interest rate is typical but not suited for debt consolidation or ongoing debt management.
Nosso veredicto
For shoppers who spend regularly and can pay off balances monthly, the Scotia Momentum Visa Infinite Card presents an attractive cash back solution. The first year value is exceptional due to waived fees and a generous introductory bonus, but factor in ongoing costs to decide if it fits your long-term plans.
