• Annual Fee: $120*
  • APR: 20.99%
  • Cashback: 4% on groceries & recurring payments, 2% on gas, 1% on all other payments
  • Min. Personal Income Required: $60,000
  • Recommended Credit Score: 660+

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Scotia Momentum Visa Infinite Review: Pros and Cons [Reviewed in 2023]

Scotia Momentum Visa Infinite is one of the best cashback cards in Canada, particularly for families who accumulate huge grocery bills.

With no annual fee in the first year, and a host of other benefits, this card is a great choice for anyone looking to save money on their everyday purchases.

Scotia Momentum Visa Infinite Review: Pros and Cons [Reviewed in 2023]

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  • Annual Fee: $120*
  • APR: 20.99%
  • Cashback: 4% on groceries & recurring payments, 2% on gas, 1% on all other payments
  • Min. Personal Income Required: $60,000
  • Recommended Credit Score: 660+

Best For

Best Welcome Offer


  • No annual fee in the first year
  • Access to all Visa Infinite benefits
  • New Mobile Device Insurance coverage
  • Comprehensive travel insurance
  • 10% cash back welcome offer
  • Strong reputation


  • A min. of $60,000 personal income required
  • Cashback can only be redeemed once a year
  • A $50 fee for supplementary accounts
  • A $25,000 yearly spending cap on cashback

Scotia Bank Overview

Incorporated in 1832, the Bank of Nova Scotia, or Scotiabank, is the third biggest bank in Canada. It offers a wide range of products and services to its 25 million customers, including personal, small business, commercial, and corporate banking. It also provides wealth management and investment services.

Scotiabank is known as Canada’s most international bank due to its large presence in many countries around the world, including the Caribbean, Central America, Latin America and parts of Asia.

Holding $1,136 billion in assets, the bank earned $31.3 billion in revenue and $7 billion in profit in 2020. It also employs over 92,000 people and trades on the Toronto and New York Stock Exchanges.

Scotia Momentum Visa Infinite Main Features  

The Scotia Momentum Visa Infinite Card is a cashback card that offers some of the most generous rewards in Canada. 

Currently, you can earn:

  • 4% cashback on grocery purchases and recurring payments, such as video streaming subscriptions, gym memberships, insurance premiums and delivery services;
  • 2% cashback on gas and transit purchases, including buses, taxis, trains and rideshares;
  • 1% cashback on all other purchases.

These cashback rates are hard to beat. First off, no other rewards card in the country offers such high returns on recurring bills and groceries, both of which make up the lion’s share of household spending.

The Visa Momentum card by Scotiabank is also one of the few that give you cashback on transit costs, making it all the more appealing to commuters. 

However, if you are driving to and from work, you might want to consider a card that offers better rewards on gas bills

Another downside is that the 4% and 2% cashback categories come with a $25,000 spending cap. And while Scotiabank has no cash back limit on the 1% category, you cannot reap those rewards until you reach the $25,000 yearly maximum spend. 

Even so, Scotia Momentum Visa Infinite is still one of the best cashback cards in Canada both for households and individual consumers. 

How to redeem your cashback?

The cashback you earn with the Visa Infinite by Scotiabank is paid out once a year in your November statement. Cashback from the welcome offer arrives earlier, though, in the first seven months after you open the account.  

Although having some cash before the holidays never hurt anyone, if you prefer to have your cashback rewards deposited into your account every month, take a look at other options

Additional Perks and Benefits 

The Visa Momentum Infinite by Scotiabank comes with a few additional perks and benefits, including:

Welcome Offer

Those who open a new credit card account by May 1, 2022, are eligible for Scotiabank’s special limited offer and can earn 10% cashback during the first three months, up to $2,000 in total purchases, giving you up to $200 value in the first year alone. 

To qualify for this amazing offer, though, you need to be new to Scotiabank, i.e. not have an account with the bank for the last two years. You should also keep the account in good standing, so you need to make minimum payments every month.

While Scotiabank’s welcome offer is pretty generous, other cards can give you more value for the first year. 

Standard Visa Infinite benefits

With the Scotia Visa Momentum card, you can experience all of the Visa Infinite benefits, such as:

  • Complimentary concierge service: This service provides you with a personal concierge who can help you with a wide range of tasks, including booking travel, making dinner reservations, and getting tickets to events.
  • Visa Infinite Luxury Hotel Collection, letting you take advantage of several perks at over 900 Visa Infinite Luxury Hotel Collection properties throughout the world, including room upgrades, free WiFi and breakfast, late checkout, and more.
  • Visa Infinite Dining and Wine Country program: With this service, you can enjoy an evening of fine cuisine and entertainment as well as hands-on instruction from renowned chefs as they guide you through each dish live via video instruction.

Annual fees

Scotiabank will waive the annual fee for both primary and supplementary cardholders for the first year. Even better, you can avoid paying card fees altogether (and get more perks) by bundling this card with other Scotia Momentum chequing accounts

Alternatively, you could try other ​​Scotia credit cards that come with a 0% annual fee or take a look at some of the best no-fee credit cards in Canada.  

Car Rentals 

When you pay with your Scotia Momentum Visa Infinite Card, you can save up to 25% on car rentals at participating Avis and Budget locations in Canada and the United States.

Other perks

In addition to these outstanding perks and benefits, you can also significantly reduce your checkout time. Using the card to make everyday purchases with Visa payWave, Apple Pay or Click to Pay will enable you to make quick, time-saving payments. 

Insurance coverage with Scotia Momentum Visa Infinite

What does this Scotia Momentum card cover?

New Mobile Device Insurance 

One standout feature of this Scotia cashback card is coverage for new cell phones (as well as smartphones and tablets) bought after August 1, 2019. This way, if your portable device is stolen, lost or damaged, you could be covered for up to $1,000.

To take advantage of this benefit though you would have to either pay for your new device with your Card (in full) or charge all your cell phone bill payments to the Card.

Travel insurance

Since it comes with a really appealing travel insurance package, Visa Infinite Momentum by Scotia is great for frequent travellers who like to pay with credit cards rather than deal with rewards and loyalty points. Still, if having a card that provides rewards points is a must for you, take a look at this offer.

Here is an overview of travel insurance offered by Scotia Momentum Visa Infinite

  • Scotiabank Momentum Visa Trip Cancellation Insurance and Trip Interruption Insurance: up to $1,500 per person for travel expenses, or up to $10,000 per trip;
  • Travel Emergency Medical Insurance: up to $1 million;
  • Flight Delay Insurance: up to $500 per insured person;
  • Delayed and Lost Baggage Insurance: up to $500 for all insured persons;
  • Travel Accident Insurance: up to $500,000 (to a maximum of $1,000,000 per occurrence).

To qualify for Scotiabank travel insurance, you need to charge at least 75% of the cost for that trip to your Card.

Scotiabank Momentum Visa Rental Car Insurance

Another standard benefit for credit card holders is car rental insurance, which covers you against damages and theft provided you charge the entire cost of your rental car to your Card.  Keep in mind that to get this insurance, the rental period cannot be longer than 48 consecutive days.

Purchase Security & Extended Warranty Protection

When you pay for an item with your Card (full cost), you are covered against loss, theft or damage during the first 90 days. At the same time, the extended warranty coverage will double the manufacturer’s warranty for up to one year.

Scotia Momentum Visa Infinite Fees and Rates

Here is a brief look at the fees and rates that come with this Scotia Momentum cashback card. 

Annual fee $120/year*
Interest rates 20.99% on purchases

22.99% on cash advances

22.99% on balance transfers 

Minimum credit limit $5,000
Supplementary card  $50/year for each card*
Foreign transaction fee 2.5%

*The annual fee is waived for the first year 

Adding another user, i.e. getting a supplementary card, will cost you an additional $50 a year, which is a bit steep considering that with the CIBC Select Visa Card you can get up to three cards with no annual fee

Eligibility and Application 

Who can qualify for a Scotia Momentum Visa Infinite Card?

As with most financial institutions, Scotiabank has a set of requirements one must meet to get approved for a credit card

  • Be a permanent resident of the country
  • Be of age (depending on the province or territory in which you live)
  • Earn a minimum personal income of $60,000
  • Have a minimum of $100,000 in combined yearly household income
  • Have a minimum of $250,000 in assets under management, i.e. total market value of your investments held by financial institutions. 
  • Have an excellent credit score. A minimum of 660 is recommended, although you would need around 760 to 900 to qualify. 

Want to Consider Other Options?

As pointed out in this Scotia Momentum Visa Infinite Card review, this card is an excellent option, but it is not the only one. 

Let’s see how it compares to its biggest competitors. 

Scotia Momentum Visa Infinite Card vs BMO CashBack World Elite Mastercard

While both cards come with a $120 annual fee and a 10% cashback welcome offer, the Visa Scotiabank Momentum card is by far the better option for rewards. Namely, Scotiabank provides 4% cashback on groceries compared to BMO’s 3%, and 4% on recurring payments as opposed to BMO’s 1%.

On the other hand, with BMO CashBack World Elite Mastercard, you can redeem your rewards any time you want, while with Scotia you have to wait for November to get your cashback. 

Scotia Momentum Visa Infinite Card vs Capital One Savor Card

The Scotia Momentum Visa Infinite card and the Capital One Savor card are both excellent choices for people who want a good return on their spending, but there are some key differences between the two cards. 

The Scotia Momentum Visa Infinite card offers a higher return on everyday spending and it also comes with a host of travel-related benefits. The Capital One Savor card, on the other hand, offers a sign-up bonus worth $300, as well as a 0% on foreign transactions compared to Scotia’s 2.5% fee. 

Final Verdict

Scotia Momentum Visa Infinite offers some of the best rewards right now. This card comes with no annual fee in the first year, comprehensive travel insurance, and a 10% cashback welcome offer. Plus, you’ll earn 4% cashback on groceries and recurring payments, 2% on gas, and 1% on all other purchases.

With a strong reputation to boot, the Scotia Momentum Visa Infinite Card is an excellent choice for savvy shoppers.


With an early start in journalism and years of work as a technical translator, Marija felt it was natural to blend the two. Passionate about news and research, she enjoys sifting through the data, researching new currents and the constant changes in our technologically and financially driven lives, as well as presenting the stats and facts to the readers so you don’t have to dig deep on your own.