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Scotia Momentum No-Fee Visa Card Review 2023

The Scotia Momentum No-Fee Visa card is a straightforward cash back credit card offering up to 1% cash back on grocery, gas, drugstore, and recurring bill payments.

This card is one of three Momentum Visa Cards from Scotiabank. The other two are the Scotia Momentum Visa card and the popular Scotia Momentum Visa Infinite card.

This Scotia Momentum No-Fee Visa review covers its pros, cons, and everything else you need to know.

Scotia Momentum No-Fee Visa Summary

Scotiabank Momentum No-Fee Visa Card

Rewards: Earn 1% cashback on gas, groceries & drugstore purchases; 0.50% cashback on everything else.

Welcome offer: Earn 5% cashback in the first 3 months on up to $2,000 spent ($100 value); 0.99% balance transfer for the first 6 months.

Interest rates: 19.99% on purchases; 22.99% on cash advances.

Annual fee: $0

Scotia Momentum No-Fee Visa Benefits

1. No Annual Fee: This card has no annual fees, which makes it an option if you are looking for a no-fee cash back card.

2. Low Balance Transfer Rate: It comes with a promotional balance transfer rate of 0.99% for the first 6 months. After the promotional period ends, you pay a regular 22.99%.

3. Cash Back Rewards: Earn 1% cash back on gas, groceries, drug store purchases, and recurring bill payments. For all other eligible purchases, you earn 0.50% cash back.

4. Bonus Cash Back Rewards: For a limited time, new cardholders earn 5% cash back on all purchases in the first 3 months (on up to $2,000 in total purchases) for a $100 value.

5. Car Rental Discount: You can save up to 25% on car rental rates at AVIS and Budget locations when you pay with your card.

Downsides of the Scotia Momentum No-Fee Visa

The Scotia Momentum No-Fee Visa card does not provide any insurance coverage.

Also, its overall cash back rate is lower than some other no-fee cash back credit cards like the Neo Mastercard.

Is The Scotia Momentum No-Fee Visa For You?

The Scotia Momentum No-Fee Visa is a no-frills, no-fee cash back card from one of Canada’s big five banks.

You can apply for this card with an average credit score and a personal annual income of $12,000.

The card is convenient to use, offering various quick payment options, including Visa payWave, My Mobile Wallet, Visa Checkout, and Apple Pay.

Its 1% cash back offer covers everyday purchases making it easy to earn cash back.

Another cash back credit card you may be interested in is the Tangerine Money-Back credit card. It has no annual fees and offers an unlimited 2% cash back on three categories of purchases, plus an extended warranty and purchase protection.

Tangerine Money-Back Credit Card

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value).

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

You can also consider the no-fee SimplyCash Card from American Express Card. It offers up to 2% cash back on purchases and is one of the top cash back credit cards in Canada.

SimplyCash Card from American Express

Rewards and benefits: Earn up to 2% cash back on gas and groceries; 1.25% cash back on all other purchases; travel accident insurance.

Welcome offer: Earn a $10 statement credit each month you spend $300 in purchases on your Card in the first 10 months (up to $100 value).

Interest rates: 20.99% on purchases and 21.99% on cash advances.

Annual fee: $0


Scotia Momentum No-Fee Visa Card Review
  • Annual fee
  • Rewards
  • Eligibility
  • Other perks


The Scotia Momentum No-Fee Visa card is a straightforward cash back credit card offering up to 1% cash back on grocery, gas, drugstore and recurring bill payments. This review covers what you need to know.


  • Get up to 1% cash back
  • No annual fee
  • Promotional balance transfer rate


  • Lack insurance coverage

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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