Scotia Momentum Mastercard Credit Card Review

Last updated:  

Earn 1% cash back on daily purchases when you swipe or tap your Scotia Momentum Mastercard Credit Card .

The Scotia Momentum Mastercard Credit Card is a no-fee credit card from Scotiabank that offers up to 1% cash back on gas, groceries, drug store purchases and recurring bill payments.

7.99% intro APR for the first 6 months, 19.99% thereafter

Purchase Interest Rate

$0

Annual Fee

22.99%

Balance Transfer Rate

Details

Product NameScotia Momentum Mastercard Credit Card
RewardGet 1% cash back on payments made at gas stations, grocery stores and pharmacies, including recurring payments, plus an additional 0.5% cash back on all other spend.
Welcome OfferReceive a 7.99% introductory interest rate on all spend for the first six months. Ends 31 October 2019.
Purchase Interest Rate7.99% intro APR for the first 6 months, 19.99% thereafter
Cash Advance Rate22.99%
Balance Transfer Rate22.99%
Interest Free Period Up to 21 days
Minimum Credit Limit$500
Go to site
More Info

30-second take

  • Get this card if you are looking for a fee-free card that offers 1% cash back on daily purchases.
  • Choose something else if you would rather pay an annual fee for more cash back rewards.

The basics

If you want a decent return on your daily purchases but aren’t interested in paying an annual fee for the privilege, then you might be interested in the Scotia Momentum Mastercard Credit Card. This card provides 1% cash back rewards on eligible purchases.

You can also save on hefty interest payments with a 7.99% introductory interest rate for 6 months on eligible purchases charged onto your Scotia Momentum Mastercard Credit Card.

The perks

  • Quick pay. Breeze through busy checkouts and make everyday purchases quickly and safely with just a quick tap of your Mastercard or mobile device.
  • Recurring payments. Get 1% cash back on regular payments including subscriptions, internet and cell phone bills, car insurance, gym memberships and other payments.
  • Optional insurance coverage. Avail of optional insurance coverage to help cover a percentage of your credit card payments in the event of disability, hospitalization, death, loss of employment and other life events when you pay a monthly premium rate of only $0.99 per $100.00 of the average daily balance on your credit card.
  • Save on car rentals. Save up to 25% off at participating AVIS and Budget car rental locations in Canada and the U.S. when you pay with your Scotia Momentum Mastercard Credit Card.
  • Claim rewards at Costco. Mastercard is the only credit card accepted at Costco warehouses across Canada.
  • Zero Liability Protection. Avoid paying for fraudulent or unauthorized purchases on your account by contacting customer service.

What to watch out for

  • Low cash back rewards. The Scotia Momentum Mastercard Credit Card offers a lower return on cash back rewards in exchange for being fee-free.
  • No purchase or warranty protection. This card does not offer purchase or extended warranty protection on consumer products.

What do other customers say?

Many customers are pleased that the Scotia Momentum Mastercard Credit Card offers a fee-free solution for getting a modest cash back return on everyday purchases. Some cardholders are also pleased with the cost-saving benefits of an introductory 7.99% interest rate on eligible purchases. Those looking for a better rate on balance transfers can switch to Visa in order to save on balance transfers with the Scotia Momentum Visa and Visa Infinite Cards. These cards also offer a better return on cash back rewards.

What should I know before I apply

How to apply

  1. Click Go to site on this page to be securely directed to your Scotia Momentum Mastercard Credit Card application.
  2. Read through the Disclosure Statement details and click Accept & Continue.
  3. Complete the application with details that include your name, email address, social insurance number and birth date.
  4. Review and submit your application.

Bottom line

The Scotia Momentum Mastercard Credit Card offers a modest, no-frills cash back rewards program in return for a fee-free service. Earn rewards on eligible gas, grocery and drug store purchases in addition to recurring payments.

Frequently asked questions about the Scotia Momentum Mastercard Credit Card

Pictures: scotiabank.com/ca

Go to site