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Scotia Momentum® No-Fee VISA* CardApply Now
- Network Provider
- RewardsLow InterestNo Fee
- Annual fee
- Purchase interest rate
- Cash advance rate
- 0% 22.99% after 6 months
- Balance transfer rate
- 0% 22.99% after 6 months
- Credit Needed
- Good (650-749)
Welcome Offer: Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, get a 0.00% introductory interest rate on balance transfers for the first 6 months (22.99% after that).
- Cash back on everyday spending with no annual fee
- 1% cash back on eligible gas station, grocery store and drug store purchases and recurring bill payments
- 0.5% cash back on all other eligible everyday purchases
About This Card
The Scotia Momentum® No-Fee Visa card is a low-interest rewards credit card available to people with credit scores of 650 or higher. The minimum credit limit is $500 and there is no annual fee.
With this card, you can earn Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).1 Plus, get a 0.00% introductory interest rate on balance transfers for the first 6 months (22.99% on cash advances including balance transfers after that; annual fee $0)1. Both offers are available to cardholders who apply for an account by April 30, 2023.
Unpaid balances on the card are charged 24.99% interest. The rate for cash advances and balance transfers on this card is 27.99%.
The card generates reward points that pay for all sorts of everyday purchases. Users earn 1% cash back on recurring bill payments as well as at select gas stations, grocery stores, and drug stores. All other types of purchases are eligible for 0.5% cash back.
Why get the Scotia Momentum® No-Fee Visa card?
Rent cars for less - Need to rent a car? You’ll appreciate the Scotia Momentum® No-Fee Visa card. Users save 20% on rentals at participating AVIS locations worldwide.
Optional protections are available - For a low monthly rate—on an average daily balance of $100, it amounts to $0.95 —you’re covered in the event you experience disability, job loss, strike or lockout, critical illness or loss of life.
Room for more - A second Scotia Momentum® No-Fee Visa card is available at no extra cost. Add a friend or family member to the account to kick your points collection into overdrive.
Lots of quick payment options - Making payments becomes even less of a hassle with the Scotia Momentum No-Fee Visa card. Users can choose between paying with Visa payWave, My Mobile Wallet, Visa Checkout, and Apple Pay.
1. Offer Description and Conditions: The Introductory 0.00% Balance Transfer Rate and First Year Annual Fee Waiver Offer (the "Offer") applies only to new Scotiabank Value Visa credit card accounts ("Accounts") that are opened by October 31, 2022 subject to the conditions below. We will waive the initial annual fee for the primary card issued before April 30, 2023 on the Account for the first year only. All other terms and conditions of the Program Terms continue to apply during the Offer period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Introductory 0.00% Balance Transfer Rate Offer Description and Conditions: The Introductory 0.00% Rate Offer (the "Rate Offer") applies only to cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) (collectively "Cash Advances") subject to the conditions below. This introductory rate applies when the new Account is opened by October 31, 2022 and will continue for 6 months from date of Account opening (the "Promotional Period"). After the Promotional Period, the promotional 0.00% interest rate on any Cash Advances (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 12.99%). A Balance Transfer fee of 1% of the amount of each Balance Transfer transferred during the Promotional Period applies.
If you don't pay the minimum payment on your Account by the payment due date on your statement, two times in any consecutive 12-month period, you will lose the benefit of this promotional Rate Offer and the interest rates that apply on any unpaid balance will increase to the standard annual interest rates that apply to your Account (currently 24.99% on purchases and 27.99% on Cash Advances).
This Rate Offer is subject to any available limit for Cash Advances on your Account. This Rate Offer cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank account.
In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.
First Year Annual Fee Waiver Offer Description and Conditions: We will waive the initial annual fee for the primary card issued before October 31, 2022 on the Account for the first year only.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer.
All rates, fees, features and benefits are subject to change.