The Scotia Momentum No-Fee Visa Card earns 1% cash back on groceries, gas, drugstores, transit, food delivery, and recurring bill payments, with no annual fee. It’s a straightforward everyday cash back card for people who want bonused rates on common categories without paying to carry the card.
New cardholders can earn 5% cash back on the first $2,000 spent within 3 months of account opening, a limited-time offer running through November 1, 2026. The card also comes with an introductory 0.99% rate on balance transfers for 9 months.
Because the bonused categories cover most of a typical household’s recurring spending, this card works well as a primary everyday card rather than a supplement to something else.
Who This Card Makes Sense For
This card is a good fit if you:
- Spend regularly on groceries, gas, drugstores, transit, or recurring bills
- Want a no-fee card with bonused rates instead of a flat cash back rate everywhere
- Are a new Scotiabank credit cardholder who can take advantage of the limited-time 5% welcome offer
- Might carry a balance temporarily and want the introductory 0.99% balance transfer rate
It’s a weaker fit if you:
- Have held a Scotiabank personal credit card in the past 2 years, since you won’t qualify for the welcome offer
- Spend well beyond $15,000 a year in the bonus categories, since the rate drops to 0.5% past that cap
- Want airport lounge access or travel-specific perks, since this card focuses on everyday cash back only
Eligibility and Documents Needed
Scotiabank’s page doesn’t publish a specific minimum income figure for this card, but it does require a minimum credit limit of $500. The 5% welcome offer excludes anyone who is or was a primary or secondary cardholder on a Scotiabank personal credit card within the past 2 years.
During the application, expect to provide employment, income, and residency information.
How to Apply
You can apply online in about 15 minutes, or book an appointment to speak with a Scotiabank advisor. A specific approval or card delivery timeline isn’t published on the main product page.
Fees and Conditions
The numbers that matter most:
- Annual fee: $0
- Additional cardholder fee: $0
- Preferred purchase interest rate: 20.99% (standard rate 25.99%)
- Preferred cash advance rate: 22.99% (standard rate 27.99%)
Scotiabank’s page doesn’t disclose a specific foreign transaction fee for this card — check your cardholder agreement for the exact currency conversion terms if you shop internationally often.
Cash back rates depend on category, with an annual cap on the bonused rate:
- 1% on groceries and supermarkets, drugstores and pharmacies, gas stations and EV charging, transit and rideshare, food delivery, and recurring bill payments
- 0.5% on all other purchases, and on any bonus-category spending beyond the $15,000 annual cap
A household that spends close to the $15,000 cap across the bonused categories earns roughly $150 a year at the 1% rate, on top of whatever the 0.5% rate adds from other spending. The categories are broad enough that most everyday purchases — from the grocery run to a streaming subscription — land in the bonused tier without any extra planning.
The limited-time welcome offer adds an extra layer for new cardholders:
- 5% cash back on the first $2,000 in eligible purchases within 3 months of account opening, for accounts opened between July 2 and November 1, 2026
- Bonus cash back from the offer becomes available for redemption after about 5 months from account opening
- Introductory 0.99% rate on balance transfers for 9 months, with a 2% transfer fee (minimum $5)
Missing the minimum payment twice in a row causes the balance transfer promotional rate to end early, reverting any unpaid balance to the standard rates. Regular cash back can be redeemed to your account anytime once you’ve accumulated at least $25.
How payments get applied differs by province: Quebec residents have payments applied to the transaction group with the highest interest rate first, while cardholders elsewhere have payments split proportionally across balance groups. Either way, you can’t direct a payment toward a specific balance of your choosing — it’s worth knowing this before carrying multiple types of balances at once.
Frequently Asked Questions
What happens once I exceed the $15,000 category cap?
Spending in the bonused categories drops from 1% to 0.5% once you exceed $15,000 in combined annual spending across those categories.
Am I eligible for the 5% welcome offer?
Only if you haven’t held a Scotiabank personal credit card as a primary or secondary cardholder within the past 2 years, and your account is opened between July 2 and November 1, 2026.
What’s the minimum cash back redemption amount?
$25 accumulated in regular cash back, redeemable to your account at any time.
Does this card charge an annual fee?
No, there’s no annual fee for the primary card or for additional cards.
What happens if I miss a payment during the balance transfer promotion?
Missing the minimum payment two consecutive times ends the 0.99% promotional rate early, and any unpaid balance reverts to the standard interest rates.
