Scotia Momentum No-Fee Visa Card

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by Enoch Omololu

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Advertiser Disclosure

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

Summary of Features

  • No annual fee
  • Up to 1% cash back on eligible purchases (5% cash back for first 3 months)
  • 1.99% promotional balance transfer rate for the first 6 months
  • 19.99% regular purchase APR; 22.99% APR on cash advances and balance transfers
  • Car rental discounts
  • Free supplementary cards
Scotia Momentum No-Fee Visa Card

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 1.99% 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 0.5% cash back.

4. Bonus Cash Back Rewards: New cardholders who apply by October 31, 2021, 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 Card

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

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 a variety of 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 actually 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, offers an unlimited 2% cash back on three categories of purchases plus an extended warranty and purchase protection.

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Scotia Momentum No-Fee Visa Card Review


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.

Best Credit Offers this month

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

Get 15% bonus cash back in first 2 months ($150 value).

1.95% balance transfer offer for 6 months.

Free prepaid reloadable Visa card.

Access to a portion of your paycheque 3 days early.

Free budgeting app with automatic savings features.

Credit building is available with a subscription.

1.20% savings interest on every dollar balance.*

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals are available in as fast as 5 minutes.

Low-interest rates start at 1.99% and terms from 4-60 months.

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Enoch Omololu

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 has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, Credit Canada, MSN Money, National Post, CIBC, and many other personal finance publications.

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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