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Review of the Scotia Momentum Infinite Cash Back Credit Card

best cash back credit cardThe Scotia Momentum Visa Infinite card is Canada’s richest cash back credit card. Cash back credit cards are the fastest growing category of rewards credit cards in Canada, because cash back is clear, transparent, easy to earn and easy to redeem. Scotia’s Momentum card delivers on all fronts.

The Scotia Momentum Visa Infinite card has Canada’s richest cash back rate  of 4% on gas & groceries, 2% on pharmacy & recurring bills and 1% everywhere else! To make it even easier to hop on the bandwagon, Scotia is offering 5% cash back on all purchases for the first 3 months, for new accounts opened by April 30, 2017. For those who don’t want to compromise, Scotia recently enhanced its insurance package to make it comparable to premium travel cards, making it better than ever.

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Cash Back Highlights

5% Cash Back Promo: For new accounts opened by April 30, 2017, Scotia is offering 5% cash back on all purchases, up to $3,000 in spend. After you reach $3,000 in spend, you would then earn cashback at the regular corresponding rates for each merchant category. It’s a nice promo, but if most of your spend is in gas or grocery, you’re really only getting 1% of incremental benefit, because you would have gotten 4% cash back anyways.

4% Cash Back at Gas & Groceries: The Momentum Infinite Visa card has the highest ongoing cash back earn rate on gas and groceries in Canada. It offers a rewards rate of 4% on gas and groceries capped at $25,000 in annual spend on gas and groceries. There is no promotional period, the 4% rebate is there to stay. Any credit card spend on gas and groceries above $25,000 will earn 1% back. Considering that Canadians spend close to $6,000 on groceries and $2,600 on gas annually, that’s $350 in cash back on gas and groceries per year alone!

2% Cash Back at the Pharmacy and on Recurring Bills: Unlike many of the other best cash back credit cards in Canada, the Momentum Infinite also offers 2% back at the pharmacy and on recurring bills. There’s also a separate cap of $25,000 per year, after which you will earn 1% on all pharmacy and recurring bill payments.  Recurring bills can actually be a huge savings when you consider that it includes your land-line, cell phone, cable, internet, gym membership and anything else that gets automatically billed to your credit card. You’ll be able to put all of your recurring telecom, insurance, subscription and membership charges on the Scotia credit card and earn 2% cash back.

1% Cash Back everywhere: On top of the extras in gas, grocery, pharmacy and recurring bills, you’ll also get 1% cash back everywhere else with absolutely no caps on spend or earnings. That’s a phenomenal earn rate, considering that the Cap One Aspire card has just been reduced to a flat 1% earn rate on everything, without any bonus categories.

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Cash Back Comparison

To help us determine how the Momentum Infinite card stacked up against other cash back credit cards in Canada, we wanted to add a little math to our analysis. Using our cash back calculator, we took a sample of someone who spent $300 on gas, $400 on groceries, $150 on recurring bills and $100 elsewhere per month. Here’s what we found:


Cash Back With No Annual Fee in 1st Year

Cash Back With Annual Fee

Scotia Momentum Infinite



MBNA Smart Cash



RBC Cash Back



Capital One Aspire



The proof is in the numbers. The average Canadian will earn more with the Scotia Momentum Infinite card than with any other cash back credit card in Canada. With no annual fee in the first year, there is absolutely every reason to get this credit card in your wallet for at least a year and start saving 4% on gas & groceries and 2% on pharmacy and recurring bills. No other credit card in Canada offers that value, cash back or otherwise.


This card is a no brainer for anyone who’s looking for 4% savings on gas & groceries, has individual annual income of $60,000 or a minimum household income of $100,000. With a great 5% cash back promo for the first 3 months, there’s every incentive to give this card a try and see how much cash back it can earn you.

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  1. How can I cancel the card? Can i still get the rebate?

  2. Say if my outstanding balance is less than the credit statement, will they transfer the whole amount or only the portion that covers the outstanding?

  3. Declined to pay my cash back.

    Please be aware of this issue.

    I called today asking that they cancel the $100.00 fee as I don’t take advantage of all of the card benefits. Scotia Bank refused to cancel the fee so I asked that they cancel the card, they agreed to cancelling the card. When I inquired about obtaining the $60.00 cash back that I had earned through out the year they refused. They stated that they pay this money November and since I am cancelling the card prior to November then I am out the money.

    This is a great way for this credit card company to keep you paying the annual fee. When you go to cancel the card they refuse to pay you the cash back that you earned.

    Lesson learned for next time…..I would not suggest getting this card for this reason……

    • Hi BatJuice,

      That is a little bit of a less than transparent technique for Scotia to retain customers. Although the fact that it only redeems once per year at the end of the year is clearly written. That said, there are several other credit cards that offer more cash back flexibility, which will hopefully pull Scotia in-line.

      The new Tangerin no fee cash back card, automatically applies your cash back against your statement EVERY month, or you can instruct them to deposit the cash EVERY month automatically in your Tangerine savinga account. (no fee, 2% cash back in up to 3 categories, 1% everywhere else – currently has 4% cash back in your chosen categories for the first 90 days).

      With the MBNA Rewards World Elite card, you can redeem your points for cash back in $50 increments. You can have them mail a check to you, apply it as a statement credit, or deposit it into your bank account. (no fee first year, 2% cash back on ALL spend, $100 welcome bonus).

      Hope that helps.

      GreedyRates Staff

    • I forgot to pay last month and they charged me $50 interest. I shall probably get another ~$15 interest in the next statement. I called and asked for forgiveness but they did not want to waive the charge. I am going to cancel the card and lose about ~250 in cashback for Jan-April. But for my piece of mind it is worth. PC Financial always waived interests when I was late.

      • Hi Catalin,

        First of all, we would receommend you call back and escalate the issue, after you’ve threatened to leave. Second, since you’ve already paid your annual fee, why not keep the card until November and redeem your $250 in cash back then?

        GreedyRates Staff

    • I too was going to cancel my card to avoid paying the annual fee, when they told me I would lose over $400 of cash back. The Scotia employee told me to keep it and that they will pro-rate the annual fee for the portion of the year that you used it until November. For me, that was 3 months so it was worth it in order to get my $400. I suggest giving them a call and seeing if this is a general thing they do, or if she told me this only because I expressed this as a serious concern. Although, it isn’t November yet, so let’s see if they stick to their word.

  4. when do they pay out the sign-up bonus of $100?

  5. Any gas station or grocery store?

    • Hi Caroline,

      Here’s a list of some of the more popular merchants in the program. It’s pretty comprehensive. Technically, the merchants included in the program are determined by SIC code assigned to each merchant by VISA. It’s grocery stores that have the SIC code 5411, gas stations with SIC code 5541 & 5542 and drugstores with SIC code 5912. Wal-Mart is notably left off the list.

      GreedyRates Staff

      • I see the list is for the 2% return but do you know where the list is for the 4% returns?


        • Hi Phil,

          It’s the same list.

          GreedyRates Staff

          • Fantastic list! Thanks. Considering this card. But I live right near a Freshco. I notice Freshco is not on the list but Sobeys. Sobeys owns Freshco. Would Freshco be considered a 4% grocery place?

          • Hi Aaron,

            Just because a grocery store is not on the list, doesn’t mean it’s not eligible. If the grocery store falls under SIC code 5411 with Visa, then the 4% cash back will be applied. A little digging on Google suggest Frescho does indeed fall under 5411, but we can’t guarantee it.

            Hope that helps,

            GreedyRates Staff

  6. When do they pay the the cash-back.
    At end of year or at the end of the 12 months period.

    • Hi Patrick,

      Cardholder terms state your cash back “is awarded at the end of each 12 month period as a credit on your November statement.”

      Hope that answers your question.

      GreedyRates Staff

  7. IS that true that I can got the sign-up bonus for activating the card or after first pruchase?

  8. is the annual fee waived for the first year or not? am confused

    • Hi Sara,

      The annual fee is not waived currently. Scotia has added a $100 welcome bonus instead. Same effect. Annual fee waiver is worth $99. Bonus worth $100. Scotia is probably just testing to see which offer consumers respond to more. Sorry for any confusion.

      GreedyRates Staff

  9. Can I apply for a joint visa card online, and still receive the $100 bonus? Also, can the reward be deposited to my line of credit account (Scotia Line)?

    • Hi Meilan,

      The $100 bonus is for the primary cardholder only. It is structured as a statement credit on the Momentum card. It can’t be transferred to your Scotia line.


      GreedyRates Staff

  10. Can anyone tellme which scotiabank account I need to have to receive the cash directly deposited into my account?

    • Hi Jen, the cash back rebate can be deposited into any personal checking account, once per year in November.


      GreedyRates Staff

      • Hi, thanks for answering my question regarding the cash back scotiabank visa. I have looked into scotiabank chequing accounts, and they all have fees to them..I currently have no fees at my online bank. I guess I need to open a scotiabank saving accounts as they have no fees on them.thanks for letting me know.

        • Hi Jen,

          Our pleasure. One thing though, our understanding is that Scotia’s cash back redemption is only deposited into Scotia’s checking accounts, not savings accounts. Regardless, if that does not work for you, they will apply your cash back as a statement credit to your credit card statement once a year in November as well – which avoids you having to get a Scotia bank account, while still getting the same value.


          GreedyRates Staff

  11. I have had this card for 5 months and it has been a “Nightmare” to try and get Scotia Bank to set up a reminder Alert email to let me know when it’s time to pay. I have been getting Interest charges for the last 3 months and their customer service is telling me that they are having the Alert setup email problem. How come Amex and MasterCard doesn’t have this issue? I’m beginning to think this is how they get their profits through interest charges. Needless to say, I’m going to stop using this card and am NOT recommending anyone apply for this card until they get this problem resolved. I’ve visited their branch 2 x, sent numerous emails and call in every month and they still cannot resolve this issue. Unbelievable!

    • If you get paid every two weeks, how about using that as a reminder to make a payment. If you don’t want to carry debt on the card, then keep it paid off more frequently. Most importantly, if it pisses you off you should probably just get better about remembering it yourself. How about using modern technology to set your own reminders?!

      Seems like a bad reason to denounce the card. Misplaced blame in my eyes.

    • Hello: I would like to say I have had a Scotiabank cash-back card for many years and have not paid a penny of interest. I write my due date on my calendar for a reminder and pay off the complete amount every month by the due date. I do not put any more on my Credit Card than I can pay off completely every month.


    • Same here and when you’re card is renewed they wipe out the alerts without telling you even though it’s the same account. Paper statements aren’t an option becaue they seem to arrive late every other month. Other banks don’t have issues with this kind of statement notification so they are either incompetent or trying to lure customers into missed payment dates.

      • What about email notification of purchases. RBC and TD Visa can be set to email you a record of each purchase right when you purchase (within a few min). RBC also shows you Pending purchases online. Does this Scotiabank Visa offer this too? (pending purchases and email notifications?)

        • Hi Aaron,

          Unfortunately not. For Scotia’s Visa cards you can get mobile alerts for:

          – Purchases above an amount you choose
          – Purchases without the VISA card present (e.g., via online, telephone)
          = Transactions outside of Canada
          – Bill payments
          – Minimum payment due for VISA or Line of Credit
          – Credit limit almost reached on VISA or Line of Credit
          – Missed payment on VISA or Line of Credit
          – Account balance goes above or below a specific amount
          – Current account balance
          – Last five transactions

          Hope that helps,

          GreedyRates Staff

  12. Louisa Kooneeliusie

    I would like to apply for cash back visa card please

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