Scotia Momentum No-Fee VISA Card review

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Advertiser Disclosure

Interest Rate: Purchases
19.99 (7.99% for the first 6 months)
Balance Transfer
22.99
Rewards
0.5 - 1% cashback
Signup Bonus
-


8.4/10
Informr score
The Scotia Momentum No-Fee VISA Card currently has an Informr score of 8.4 out of 10. This score is based on our evaluation of 3 sources including reviews from users and the web's most trusted critics.

Am I eligible?


Scotia Momentum No-Fee VISA Card is typically available to those with good credit scores (650 or greater).
To get this card, you must also:
Yes Be at least 18 years of age (AB, MB, ON, PE, QA, SK). 19 in all other provinces.
Yes Be a permanent or temporary resident of Canada
Yes Have a minimum personal income of $12000.

Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.

What the Critics Are Saying...


creditcardGenius

This card from Scotiabank lets you earn 1% cash back on all purchases at gas stations, grocery stores, drug stores, and even recurring bill payments, as well as 0.5% on all other purchases – not bad for a no fee card.

- creditcardGenius
LowestRates.ca

The most attractive perk offered by the Scotia Momentum No-Fee VISA is the introductory special that freezes the interest rate at 7.99%—by comparison, the standard rate for most credit cards is 19.99%—for the first six months. 

- LowestRates.ca
RateSupermarket

This card is the ultimate tool to take on those daily errands. From filling up the tank to grabbing dinner on the way home, you’ll be earning your way to a cash back payout.

- Penelope Graham, RateSupermarket

Details


Interest Rates
Regular APR Interest Rate 19.99% (7.99% for the first 6 months)
Balance Transfer Interest Rate 22.99%
Cash Advance Interest Rate 22.99%
Rates & Fees
Annual Fee $0.00
Balance Transfer Fee $3.50
Cash Advance Fee $3.50

$7.50 for each cash advance obtained at any ABM, Scotiabank, and any financial institution that's outside of Canada.

Foreign Transaction Fee 2.5%

Transactions made in a foreign currency will be converted and posted to your account in Canadian currency.

Over Limit Fee $29.00
Late Payment Fee $0.00
Promotions
Sign up bonus No
Rewards
All Purchases 0.5% cash back
Restaurants No
Gas 1% cash back
Groceries 1% cash back
Hotels No
Travel No
Pharmacy 1% cash back
Bills 1% cash back

On recurring payments

Features & Benefits
Additional Card Holders Yes
Travel Accident Insurance No
Car Rental Insurance No
Car Rental Discount Yes
Extended Warranty No
Purchase Protection No
Zero Liability No
No Foreign Transaction Fees No
Emergency Assistance No
Concierge Service No
Price Protection No
Fraud Protection No
Free Credit Scores No
Wireless Payments No
Eligibility
Minimum Security Deposit $0
Minimum Age

18 years in AB, MB, ON, PE, QA, SK. 19 years in all other provinces.

Minimum Personal Income $12,000 per year


Temporary Residents No
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Additional comments
Terms & Conditions Official Terms & Conditions
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Critic Reviews


creditcardGenius

A no fee, no hassle credit card that will let you earn 1% cash back

creditcardGenius

This card from Scotiabank lets you earn 1% cash back on all purchases at gas stations, grocery stores, drug stores, and even recurring bill payments, as well as 0.5% on all other purchases – not bad for a no fee card.

Read full review

This card from Scotiabank lets you earn 1% cash back on all purchases at gas stations, grocery stores, drug stores, and even recurring bill payments, as well as 0.5% on all other purchases – not bad for a no fee card.

Read full review

Less

LowestRates.ca

A low-interest rewards credit card

LowestRates.ca

The most attractive perk offered by the Scotia Momentum No-Fee VISA is the introductory special that freezes the interest rate at 7.99%—by comparison, the standard rate for most credit cards is 19.99%—for the first six months. 

Read full review

The most attractive perk offered by the Scotia Momentum No-Fee VISA is the introductory special that freezes the interest rate at 7.99%—by comparison, the standard rate for most credit cards is 19.99%—for the first six months. 

Read full review

Less

RateSupermarket

A good option to maximize your earnings

from RateSupermarket

This card is the ultimate tool to take on those daily errands. From filling up the tank to grabbing dinner on the way home, you’ll be earning your way to a cash back payout.

Read full review

This card is the ultimate tool to take on those daily errands. From filling up the tank to grabbing dinner on the way home, you’ll be earning your way to a cash back payout.

Read full review

Less

User Reviews


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