The Scotia Momentum No-Fee Visa is Scotiabank’s entry-level cash back card, with a $0 annual fee. It pays 1% on groceries, gas, transit and recurring bills, and suits people who prefer a large bank, branches and a chequing account and line of credit under the same login.
Why we recommend the Scotia Momentum No-Fee Visa
The 1% categories cover what repeats every month: groceries, food delivery and drugstores, gas, electric vehicle charging and daily transit such as buses, taxis and ride-shares, plus eligible recurring bills and subscriptions. That rate applies to the first $15,000 a year in those categories, and all other purchases earn 0.5%.
Redemption is flexible. Once your balance reaches $25, you can take it as a statement credit or deposit it to a Scotiabank account from the app whenever you like, and cash back never expires while the account is open.
The minimum credit limit is $500, which makes the card realistic for people still building credit. Scotia SelectPay splits purchases of $100 or more into instalments at a lower rate, and cardholders get up to 25% off base rates at participating Avis and Budget locations in Canada and the U.S.
Author’s opinion
We see this as a solid set-and-forget option for a household that pays bills on time and wants a major bank behind the card. It will not beat a 2% grocery card on that category alone, but it spreads 1% across more everyday spending without asking you to choose.
Keep the limits in mind. Purchases cost 20.99% and cash advances 22.99%, so it is not a tool for carrying a balance. The accelerated categories drop to 0.5% after the $15,000 cap, and supplementary cardholders cannot redeem cash back. Welcome bonuses come and go, so check the dates on the official page.
I want to learn more about the Scotia Momentum No-Fee Visa!
Requirements, the fee table, the documents Scotiabank asks for and the official application link are on the next page. Tap the button below.
Photo: Dillan Payne · CC BY-SA 2.0 · Wikimedia Commons
