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Scotia Momentum No-Fee Visa Card Review

Claire Horwood

Last updated: Jan 7, 2021

Discover a smart, simple way to pay for your purchases with the Scotia Momentum No-Fee Visa Card.

Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).Plus, get a 7.99% introductory interest rate on all eligible purchases for the first 6 months. Apply by July 1, 2021.

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

Purchase Interest Rate

Annual Fee

Details

Product Name	Scotia Momentum No-Fee Visa Card
Reward	Get 1% cash back on all eligible gas station, grocery store and drug store purchases and recurring bill payments, and get 0.5% cash back on all other eligible purchases.
Welcome Offer	Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).Plus, get a 7.99% introductory interest rate on all eligible purchases for the first 6 months. Apply by July 1, 2021.
Purchase Interest Rate	7.99% intro APR for the first 6 months, 19.99% thereafter
Cash Advance Rate	22.99%
Balance Transfer Rate	19.99%
Interest Free Period	Up to 21 days
Minimum Credit Limit	$500
	Apply now More Info

Annual Fee	$0
Monthly Service Fee	N/A
Over Credit Line Fee	$29
Balance Transfer Fee	N/A
Penalty APR	24.99%
Dishonoured Payment Fee	$48
Foreign Currency Conversion Fee	2.5%
Cash Advance Minimum Fee	$5
Late Payment Fee	N/A
	Apply now More Info

Credit Score	650
Minimum Age	Age of majority in the province/territory of residence
Minimum Income	$12,000
Household Income	N/A
	Apply now More Info

Claire Horwood

Claire Horwood is a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, along with an Associate's Degree in Science from Camosun College. Much of Claire's coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. She has also worked extensively in the field of "Blended Finance" with the Canadian government. In her spare time, Claire loves rock climbing, travelling and drinking inordinate amounts of coffee.

30-second take

Get this card if you want a fee-free card that offers cash back on daily purchases.

Choose something else if you’re looking for a targeted rewards program or would like more cashback rewards.

The basics

If you’re on a budget and are looking for a fee-free card that gives you a decent return on your daily and recurring purchases, then this card could be just the ticket.

No annual fee. Provides no annual fee on principal and supplementary cardholders.
Cash back. Get 1% cash back on all eligible gas station, grocery store and drug store purchases and recurring bill payments, and get 0.5% cash back on all other eligible purchases.
Welcome offer. Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).Plus, get a 7.99% introductory interest rate on all eligible purchases for the first 6 months. Apply by July 1, 2021.

The perks

Quick pay. Pay for purchases in a flash when you use Visa payWave, My Mobile Wallet, Visa Checkout and Apple Pay.
Save on car rentals. Get up to a 25% discount at participating Budget and AVIS car rental locations in Canada and the US.
World class service. Reach out to customer service 24/7 by phone, e-mail or online form. Use this service to report cards missing or stolen, request additional cards, file complaints or resolve issues by speaking directly to an agent.

What to watch out for

Low cash back rewards. This card offers less cash back than other Scotiabank offerings.

What do other customers say?

Most customers are satisfied with the perks and benefits on offer from the Scotia Momentum No-Fee Visa Card. Some cardholders are pleased with the cost-saving benefits of an introductory 7.99% interest rate on purchases.

What should I know before I apply

To apply for the Scotia Momentum No-Fee Visa Card you need to:
- Be a Canadian citizen or permanent resident.
- Be at the age of majority in province/territory of residence.
- Have an annual gross income of at least $12,000 without declaring bankruptcy in the past 7 years.
- Your name, residential status and contact information.
- Your social insurance number and date of birth.
- Your email address and phone number.

How to apply

Click Go to site on this page to be securely directed to your Scotia Momentum No-Fee Visa Card application.
Read through the Disclosure Statement details and click Accept & Continue.
Complete the application with details that include your name, email address, social insurance number and birth date.
Review and submit your application.

Bottom line

The Scotia Momentum No-Fee Visa Card offers a zero-fee cash back rewards program for those who are looking to make a bit of pocket change on everyday purchases. If you’re looking to get more bang for your buck, then you might like to pay an annual fee to bump up to either the Scotia Momentum Visa or Visa Infinite Card for a 2% or 4% cashback rate on purchases.