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Scotia Momentum® VISA* Card

Scotia Momentum® VISA* Card

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Network Provider
Balance Transfer
Annual fee
Purchase interest rate
Cash advance rate
Balance transfer rate
2.99% 22.99% after 6 months
Credit Needed
Good (650-749)

Card description

  • Get 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)1
  • Cash back with low annual fee
  • 2% on eligible gas station, grocery store and drug store purchases and recurring bill payments
  • 1% cash back on all other eligible everyday purchases
  •  Rates, fees and other information are effective as of Mar 1, 2021. Subject to change.

About This Card

The Scotia Momentum Visa is a low-fee cash-back credit card aimed at people with good credit scores — generally 650 and higher.

The Scotia Momentum Visa’s cash-back rate is a fairly competitive one in the low or no-fee credit card space. Purchases made at grocery stores, pharmacies, recurring bill payments, gas and daily transit expenses will earn you 2% cash back. Everywhere else, the card will earn 1%.

There's also an introductory offer for people who open an account by November 21, 2021: Get a 2.99% introductory interest rate on balance transfers for the first six months (after that, the interest rate is 22.99%).  

The card comes with a small annual fee of $39. Outstanding balances will accrue interest at a 19.99% annual rate, while cash advances, Scotia Credit Card Cheques, and balance transfers are subject to a 22.99% interest rate.  

Why get the Scotia Momentum® VISA?

Divide and conquer - Add an additional cardholder to your account for $30 and earn even more cash back. For your convenience, all transactions made by your account, including additional cards, will appear on the same statement. 

Discounts on car rentals - Cardholders get discounts of up to 20% at any of the approximately 5,500 AVIS locations worldwide.

Purchase Security & Extended Warranty Protection - Most items purchased with your card are insured against theft, loss, or damage for 90 days from the purchase date and the manufacturer’s warranty is doubled for up to one year.

Just tap and go - It’s quick and easy to shop with Visa PayWave-enabled cards. Add your card to Apple Pay or Android Pay and don’t even worry about having to dig a card out of your wallet ever again.

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Offer Description and Conditions: The Introductory 2.99% Balance Transfer Rate Offer (the "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 November 21, 2021 and will continue for 6 months from date of Account opening (the "Promotional Period"). This Offer is subject to any available limit for Cash Advances (the "Cash Advance Available Limit") on your Account. This Offer cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank Account. After the Promotional Period, the 2.99% interest rate on any promotional Cash Advances (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 22.99%). There is no balance transfer fee on balances transferred during the Promotional Period.

Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail 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

Payment Allocation: 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.
Rates and Fees: : The current annual fee is $39 for the primary card and $15 for each additional supplementary card. The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on Cash Advances. All rates, fees, features and benefits are subject to change.