Scotiabank Momentum Mastercard Review

The Scotiabank Momentum Mastercard is a straightforward cash back credit card offering up to 1% in rewards.

Looking at Scotiabank’s line of credit cards, this card also appears to be the only Mastercard they offer for personal accounts. All their other popular credit cards are either Visa or American Express.

This Scotiabank Momentum Mastercard review covers its benefits, downsides, and alternatives.

Scotiabank Momentum Mastercard 2025 – At a Glance

• $0 annual fee; free supplementary cards
• 20.99% purchase APR; 22.99% cash advances and balance transfers
• Up to 1% cash back
• Up to 25% car rental discount at AVIS and Budget
• 7.99% rate on purchases for the first 6 months
• Zero Liability Protection by Mastercard
• Worldwide acceptance by millions of merchants in 210 countries

Scotiabank Momentum Mastercard Benefits

The main attraction of this card is its cash back rewards.

It offers 1% cash back when you spend at gas stations, grocery stores, drug stores, and recurring bill payments. All other spending attracts 0.50% cash back rate.

Given that there is no limit to how much cash back you can earn in these categories at the 0.50% to 1% rates, the cash back rewards are not too shabby.

When you add in the fact that the Scotiabank Momentum Mastercard does not have an annual fee, and you only need $12,000 in annual income to qualify, it becomes even more attractive.

The card offers a promotional 7.99% interest rate on purchases for the first six months. If you tend to carry a balance from month to month, you could save on interest fees in the first six months of using the card.

Here are other options for low-interest rate credit cards in Canada.

Lastly, you can get up to a 25% discount on car rentals at participating AVIS and Budget locations in Canada and the U.S. when you pay with the Scotiabank Momentum Mastercard.

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Downsides of the Scotiabank Momentum Mastercard

This card does not offer anything in the way of insurance coverage, i.e. it does not provide basic purchase protection or extended warranty coverage.

It also lacks premium perks, which is no surprise for a no-fee credit card.

Alternatives to the Scotiabank Momentum Mastercard

If you want a cash back Mastercard that offers more competitive rewards, you could also check out:

KOHO Mastercard: Has no annual fees* and offers up to 5% cash back on purchases; plus a $40 welcome bonus.

SimplyCash Card from American Express: This is one of the best no-annual-fee cash back credit cards in Canada. It offers a standard 1.25% cash back rate on most purchases.

The SimplyCash Card comes with travel accident insurance, purchase protection, extended warranty, and American Express Invites perks. Learn more about it in this review.

Is the Scotiabank Momentum Mastercard for you?

The Scotiabank Momentum Mastercard is a good option if you are looking for a student credit card or an entry-level card.

It is easy to apply and qualify for it if you have a good credit score and a personal annual income of at least $12,000.

If you prefer a no-fee credit card with better cash back rewards and basic insurance coverage for purchases, the SimplyCash from Amex or Tangerine Money-Back Card are solid options.

Related reading:

• American Express Cobalt Card review
• Scotiabank Momentum Visa Infinite Card Review
• No-Fee Scotiabank Value Visa review
• Scotiabank Gold American Express review
• Scotiabank Momentum Visa review