Scotiabank
Flexible cash back: earn up to 10% cash back, get 0% or 2.99% balance transfers, and enjoy no-fee or premium options. Fast approvals and easy online application.
The Scotia Momentum suite stands out among cash back credit cards in Canada, offering flexible reward structures with attractive welcome bonuses and practical features for different budgets. The Scotia Momentum Visa Infinite Card is a flagship, featuring a compelling 10% cash back on all purchases for the first 3 months (up to $2,000 spent), then continuing with solid ongoing rewards. The card’s annual fee is $120, but it’s waived for the first year, making it easier to try premium rewards with less commitment upfront. Regular interest rates apply after the intro period: 20.99% for purchases and 22.99% for cash advances.
The package also includes options like the Scotia Momentum No-Fee Visa Card, which earns 5% cash back for the first 3 months (up to $2,000), perfectly suited for those who prefer no annual fee. After the promo, the standard 20.99% purchase interest and 22.99% cash advance interest apply, keeping this card competitive among no-fee products. The Scotia Momentum Mastercard further offers Canadians an annual fee waiver combined with an introductory 7.99% purchase rate for the first 6 months and 1% cash back on key spending categories such as gas, groceries, and recurring payments.
The Scotia Momentum Visa Card, with a $49 annual fee, features a 2.99% intro balance transfer rate for 6 months and returns to typical cash back rates thereafter. Applicants will need to meet standard eligibility checks (income requirements and credit scores may apply). It’s a straightforward process online or for newcomers, in-branch.
Como se inscrever passo a passo
Begin by selecting your desired Scotia Momentum cash back card, ensuring you fit the eligibility criteria, including your income and residency status.
Next, gather necessary documents such as government-issued identification, proof of income, and your Social Insurance Number, to ensure a smooth application.
Proceed to the application portal online or choose an in-branch visit if you prefer personalized assistance or if you’re new to Canada in the last three years.
Complete the digital form, providing accurate financial and personal information, and review your selections before submitting for approval.
After submission, you may receive instant approval in many cases, while some applications require additional review, with notification sent shortly thereafter.
Pros: Why Choose Scotia Momentum?
One of the biggest advantages is the market-leading welcome bonuses—up to 10% cash back is impressive, notably higher than what many competitors offer.
Variety is a key benefit; applicants can choose between no-fee, premium, and Mastercard/ Visa network options, catering to all financial preferences.
Cons: What to Watch Out For
The 10% or 5% intro cash back is capped at $2,000 in purchases, so it may not be as lucrative for extremely high spenders looking for uncapped rewards.
Standard interest rates after the promo periods (20.99% for purchases and 22.99% for cash advances) are not the lowest in the market, making these less suitable for anyone regularly carrying a balance.
Verdict: An Attractive Offer for Cash Back Seekers
The Scotia Momentum suite offers some of Canada’s most valuable cash back deals, especially for those who pay off their balance each month. The flexible options and ease of online application make it an appealing first or second card, whether you want no annual fee or rich rewards. Sizable intro bonuses enhance value for the first year. The standard rates and reward caps are typical for the category, so consider your spending habits before applying to maximize your rewards potential.
