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); introductory 0% interest on balance transfers 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% 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); 1.95% balance transfer rate for 6 months.
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Annual fee: $0
You can also consider the no-fee Neo Credit card, which offers up to 5% cash back on purchases at over 10,000 retail locations in Canada.
Neo Credit card
Rewards: Average of 5% cash back at 12,000+ partners.
Welcome offer: $25 welcome cash bonus.
Interest rates: 19.99% – 29.99% on purchases; 22.99% – 31.99% for cash advances.
Annual fee: $0 to $4.99 monthly
Related:
- Best Credit Cards in Canada
- Best Travel Rewards Credit Cards
- Best Low Transfer Credit Cards
- Best Credit Cards for Bad Credit
- Best Tangerine Credit Cards
Scotia Momentum No-Fee Visa Card Review
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Annual fee
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Rewards
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Eligibility
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Other perks
Overall
Summary
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.
Pros
- Get up to 1% cash back
- No annual fee
- Promotional balance transfer rate
Cons
- Lack insurance coverage
