While the Scotia Momentum Visa Infinite Card remains one of the top cash-back credit cards in Canada, its overall attractiveness has diminished over time. This doesn’t imply that the card is no longer a strong option; rather, newer cards may provide superior perks or earning potentials.
What stands out is that this card still boasts an outstanding earning rate along with excellent travel and purchase insurance features, making it still a viable choice for many consumers. Check out my review of the Scotia Momentum Visa Infinite to learn why it’s among the best credit cards from Scotiabank in Canada.
Scotia Momentum Visa Infinite Card
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- $120 annual fee – waived in the first year
- Earn 15% cash back on all purchases within your first 3 months (up to $2,000 spent)
- 4% cash back on groceries, recurring payments, and subscriptions
- 2% cash back on gas, daily transit, and food delivery
- 1% cash back on all remaining purchases without any limit
- Includes travel and mobile device insurance
Welcome Bonus and Earning Rates
The Scotia Momentum Visa Infinite Card usually provides a welcome bonus of 10% cash back on all purchases made in the first three months, up to $2,000. At times, this offer has reached as much as 15%. Additionally, the card’s $120 annual fee is typically waived during the first year.
You can earn 4% cash back on grocery shopping, automated payments, and subscriptions, 2% on gas, transit, and food delivery, and 1% on all other expenses. While these earning rates are favorable across various categories, there is a yearly cap of $25,000. Beyond this cap, your earning potential reduces to 1%.
Benefits and Perks
Similar to many cash back credit cards, the Scotia Momentum Visa Infinite Card does not offer a wide array of perks, but it does include valuable insurance and benefits associated with the Visa Infinite brand.
Mobile Device Insurance
If you purchase a mobile device (such as a phone or tablet) using your Scotia Momentum Visa Infinite Card, you are covered for loss, theft, or damage up to $1,000. It’s important to remember that claims are subject to depreciation.
Travel Insurance
- Travel medical coverage – $1,000,000 for up to 15 days
- Trip interruption – $2,000 per insured individual (up to $10,000 per trip)
- Trip cancellation – $1,500 per insured person (up to $10,000 per trip)
- Flight delay – $500 per trip for eligible expenses after a delay of 4 hours
- Delayed or lost baggage – $500 per trip for eligible expenses after a 4-hour delay
- Travel accident coverage – Up to $500,000 for common carriers, including airplanes and buses
- Rental car loss/damage coverage – Up to $65,000 for 48 days
For a cash back card, the travel insurance offered is notably quite comprehensive. Just 75% of your trip’s costs must be charged to your card for the trip cancellation and interruption coverages to be applicable, while the full amount must be charged for rental cars. Please note that hotel/motel burglary insurance is not included.
Purchase Insurance
- Purchase security for 90 days
- Extended warranty for up to an additional year
Purchases made using your Scotia Momentum Visa Infinite Card come with 90 days of protection against theft, loss, and damage, via the included purchase security, alongside an extended warranty of up to one additional year.
Concierge Service
As a cardholder under Visa Infinite, you can access a dedicated concierge service. Available around the clock, these concierges assist with dinner reservations, shopping, and more. However, it’s wise to have realistic expectations regarding your requests.
Car Rental Discounts
When renting from select AVIS and Budget locations in the U.S. and Canada, you can enjoy up to 25% off the base rental rate when you use your Scotia Momentum Visa Infinite Card.
Visa Infinite Hotel Collection
Visa has exclusive partnerships with numerous hotels, offering benefits such as free room upgrades and complimentary Wi-Fi when reservations are made directly.
Visa Infinite Dining and Wine Country Program
Throughout the year, Scotiabank provides cardholders with opportunities to attend exclusive dining events featuring celebrity chefs and more.
Cash Back Payout Schedule
Scotiabank now allows for cash back distribution anytime, provided you have accrued a minimum of $25 in rewards. This change replaces the previous requirement to wait until November for cash back, enhancing flexibility significantly.
Eligibility for the Scotia Momentum VISA Infinite
- You are a citizen or permanent resident of Canada
- You are of the legal age in your province or territory
- Your annual gross income is at least $60,000
- You have not filed for bankruptcy in the last 7 years
- Your home address matches the one on your credit report
There’s no formal minimum credit score requirement for the Scotia Momentum VISA Infinite Card, but a score of at least 700 is advisable.
Comparative Analysis of the Scotia Momentum Visa Infinite Card
Scotia Momentum Visa Infinite Card vs. American Express Cobalt Card
A common comparison is with the American Express Cobalt Card, which features a comparable earning structure. The Cobalt Card offers 5 Membership Rewards points for every $1 spent on dining and groceries, 3 points for popular streaming services, 2 points for travel and transit, and 1 point for all other expenditures. Since 1,000 points can be redeemed for a $10 statement credit, this card functions as a hybrid between cash back and travel rewards.
While the Scotia Momentum Visa Infinite Card excels in insurance offerings, American Express Membership Rewards typically outperform Scene+ for value. The flexibility to transfer Membership Rewards points to other loyalty programs like Aeroplan and Marriott Bonvoy often leads to enhanced value for redemptions.
Scotia Momentum Visa Infinite Card vs. BMO CashBack® World Elite® Mastercard®*
The BMO CashBack® World Elite® Mastercard® also boasts an appealing earning rate, offering 5% cash back on groceries, 4% on transportation, 3% on gas and electric vehicle charging, 2% on recurring bills, and 1% on all other purchases. However, it imposes monthly limits of $500 on groceries, $300 on transit, $300 on gas/electric charging, and $500 on recurring bills. For those whose monthly expenses surpass these thresholds, the Scotia card might be the superior choice due to its annual cap.
Scotia Momentum Visa Infinite Card vs. Tangerine World Mastercard
Among the top cash back cards in Canada, the Tangerine World Mastercard is another viable contender. This card allows you to select up to three categories to earn 2% cash back, while all other purchases earn 0.5%. Although this structure yields lower returns compared to Scotia’s card, the absence of an annual fee is likely to appeal to many consumers.
Concluding Remarks
It is evident from my review that the Scotia Momentum VISA Infinite Card has many advantages. It stands out as one of the top no-fee cash back cards available and serves well as a “travel rewards” credit card. While redeeming cash back is straightforward, it is only distributed once yearly in November as a credit on your statement or directly into your bank account if you are a Scotiabank customer.