Review of the Scotia Momentum Infinite Cash Back Credit Card

Annual Fees
First year free
$99
Purchase Interest Rate
19.99%
Min Personal Income Required
$60,000
Recommended Credit Score
740 850 670 739 580 669 0 579
Good-Excellent
First year annual fee waived for new applications before June 30th, 2018.

The 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 a regular 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 an *annual fee waiver for the first year, for new accounts opened by June 30th, 2018. 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.

Cash Back Highlights

  1. *1st Year Annual Fee Waiver!
  2. 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 those categories. 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 the average Canadian spends 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!
  3. 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 landline, 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.
  4. 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.

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 YearCash Back With Annual Fee
Scotia Momentum Infinite$384$284
MBNA Smart Cash$198$198
RBC Cash Back$132$132

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.

Conclusion:

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 lovely annual fee waiver of $99, there’s every incentive to give this card a try and see how much cash back it can earn you.

*This is a statement from Scotia regarding the promotion: We will waive the initial annual fee for the primary card and each additional supplementary card for the first year (the “Offer”). Offer applies to new Accounts only that are opened by June 30, 2018 (the “Offer End Date”). Any additional supplementary cards must be issued by June 30, 2018, to qualify for the offer. Offer applies only to new Scotiabank credit card accounts opened by the Offer End Date. Former or current Scotiabank credit cardholders that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account are excluded from this Offer. Offer may be changed or extended and cannot be combined with any other offer.

The preferred annual fee is $99 for the primary card and $30 for each additional supplementary card. Rates and fees are subject to change.

Article comments

53 comments
Brad says:

Is it possible for you to do a comparison between this card and the Scotia Gold Amex? I have the Gold Amex and it has 4X points on grocery and selected gas options, among other things. I understand its not apples to apples since this is a rewards card while the Momentum is cash back but when redeeming on travel purchases that I’ve already spent I don’t lose out on any points exchange rate. Basically $1 spent on grocery, restaurant, etc is 1 point earned but I get 4X the points, then 10000 points equals $100 I can redeem. Just wondering if you apply your average monthly spend to both cards, which one works out better? Thanks

GreedyRates says:

Hi Brad, thanks for the request for a rewards comparison. Between the two Scotiabank cards you mentioned, the rewards equivalence is neck and neck. If you reference our Loyalty Rewards Bible, you’ll see that one Scotia point is worth about $0.01, while 1.00% cash back per $1 gives the same. However, the Gold Amex is a higher tier card than the Momentum and grants 4 points per $1. If you manage to spend a lot on gas, groceries, dining, and entertainment, you’ll earn the equivalent of $0.04 per $1. Remember that it is also an Amex, and will be accepted at fewer merchants.

What you can redeem for is where the crux of the issue lies. If you enjoy luxurious travel perks and rewards, then the Gold card is for you. Cash back is nice as well, because you can spend it on whatever you use the card for. In the end, the Gold card definitely wins, but either is a solid bet. Thanks again for reading!

GreedyRates Staff

cindy says:

Hi:
I just applied for the card. when I got this card almost 1 month ago, I spent almost 4000 $ when I check my balance, it showed cash back only 39$, but when I apply for the card the bank financial advisor told me. there is a promotion , first 3 month on everything is 6% cash back. that why I applied for the card.
I just want to know if still possible in November, I could get 240 $ cash back or just get 39$ cash back.? who can tell me?
Thanks

GreedyRates says:

Hi Cindy, thanks for stopping by. The cash back rate for Scotiabank’s Momentum Visa Infinite card is 4.00% on gas and groceries, 2.00% on pharmacy and recurring bills, and then 1.00% everywhere else. The promotion for 6.00% cash back ended a while ago, so you likely missed it if your card is just a month old. Even so, you must look at your statement closely to determine where you’ve earned cash back. There’s a chance that most of your purchases ended up in the category for which 1.00% cash back is awarded. Regardless, by November you’ll likely have more than the $39 in cash back that you’ve earned so far. How much is up to you, but cash back promotions won’t help you, as the card’s new promotion is simply an annual fee waiver, which you will probably receive soon. Make sure to use the card for all your gas and groceries, because this is where the cash back really starts to pile up! Thanks again and best of luck.

GreedyRates Staff

Jane lalonde says:

I’ve had this card for 2 years and Both years I received back over $4000 it’s great for those with a family and who drive alot

Daniel says:

Hi, I just got offer to get this card. We spent roughly 800$ on food in Superstore and some local european stores in Edmonton, a month, I also buy gas on Petro Canada…food, gas together with Bell, Shaw and car insurance we would spend yearly around 15k…doing basic math it pays triple at least to get this card, what would be the catch?
I’m not a fan of banks and credit cards, currently using only RBC signature rewards card but collecting points there it takes years and $$$…to get 500$ gift card or similar I need to collect 60 000 or 80 000 points and most stores they give you 1 point for 1$.

Any recommendations? Stay with RBC Signature or switch to Scotiabank?

And also, if I switch, will I have to open an account in Scotia or they can deposit cash back on RBC account?

GreedyRates says:

Hi Daniel, thanks for coming to Greedyrates. It’s easy to mistrust banks and credit cards, but with a little education you will quickly realize that for responsible cardholders, these tools will save immensely. With your spending, if you used the Scotiabank card and paid your monthly balance, you would earn a lot of rewards and significantly defray your expenses over time. The catch is that you MUST be responsible and pay your balance on time, or risk adding interest to the amount you owe.

We recommend getting the Scotiabank Momentum Infinite card, as it represents a big step up from the RBC Signature card you currently hold. You will earn much more and also get an impressive bonus from Scotia. We’re not sure if you’ll need to open a new Scotia account in order to accrue rewards: some banks will require this and some do not. In the cases where you do not have to open a bank account, the issuer will simply give you a “rewards account”. Call Scotia and find out – it should be quick, as their representatives are really on the ball. Good luck saving!

GreedyRates Staff

Daniel says:

Problem being is not that I don’t trust banks, but rather that I don’t like banks.

Thank you

Caroline says:

This is great card as noted. However, there are two things I have just realized. #1 if you make any returns, it always comes out of their 4% bucket (and no one has gotten back to me in a month with a response to the email I sent with all the evidence). #2 if you are a scotiabank customer and happen to transfer payments to the visa (vs. A bill payment), it actually nets down your purchases for the month. Both of these items make no sense and work to reduce your rebate. So beware. I will be escalating bc the impact thus far is upwards of $500 on my account.

sean rays says:

Hello
Scotia bank MasterCard is one of worst card even if you pay partial balance on time !!!
they charge almost %66 interest charge!! have second look at your statements please..

GreedyRates says:

Hi Sean, we’re so sorry to hear that you’re having a bad experience with Scotia. The way you’ve described your issue makes it difficult for us to determine what the problem might be. The card’s interest rate is 22.99%, and if you’re being charged more, only a bank representative will know what the issue might be.

If you could, please let us know your resolution, so we can make necessary changes to our published articles. Thanks and good luck.

GreedyRates Staff

Georgina Jones says:

I NEED TO RESET MY PIN # Help please

GreedyRates says:

Hi Georgina,

Have you tried calling Scotiabank’s customer service line? 1-888-882-8958

We hope that helps,

GreedyRates Staff

Georgina Jones says:

I HAVE FORGOTTEN MY PIN FOR MY CARD. WHERE CAN I GO TO SET IT?

GreedyRates says:

Hi Georgina,

If you’re referring to the Scotia Momentum card, we suggest you call the following number at Scotiabank: 1-888-882-8958

They can help you with recovering your pin #.

Hope that helps,

GreedyRates Staff

Joyce says:

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

GreedyRates says:

Hi Joyce,

You can cancel the card any time by calling Scotia. You will not be charged the annual fee, regardless of when you cancel the card.

GreedyRates Staff

Shawn says:

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?

GreedyRates says:

Hi Shawn,

You can only transfer up to your credit limit.

GreedyRates Staff

Declined to pay my cash back. says:

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……

GreedyRates says:

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

Catalin says:

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.

GreedyRates says:

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

Jodie says:

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.

Jenny says:

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

GreedyRates says:

Hi Jenny,

The Scotia Momentum Infinite Visa applies your cash back in November of each year.

GreedyRates Staff

C fremont says:

Any gas station or grocery store?

GreedyRates says:

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

Phil says:

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

thanks

GreedyRates says:

Hi Phil,

It’s the same list.

GreedyRates Staff

Aaron says:

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?

GreedyRates says:

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

Patrick says:

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

GreedyRates says:

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

Chao says:

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

GreedyRates says:

Hi Chao,

To be eligible for the welcome bonus, you have to spend $500 within the first 90 days of being approved. The promotion ends Feb 29th.

GreedyRates Staff

Sara says:

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

GreedyRates says:

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

Meilan says:

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)?

GreedyRates says:

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.

Best,

GreedyRates Staff

Scotiabank member says:

You can redirect it to your Scotiabank account and then transfer yourself to the line of credit.

Jen says:

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

GreedyRates says:

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

Best,

GreedyRates Staff

Jen says:

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.

GreedyRates says:

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.

Best,

GreedyRates Staff

stephen tran says:

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!

Sensical Guy says:

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.

jaymie says:

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.

jaymie

MDK says:

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.

Aaron says:

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?)

GreedyRates says:

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

Louisa Kooneeliusie says:

I would like to apply for cash back visa card please

John Huckley says:

Then what’s stopping you?

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