The Scotia Momentum Visa Infinite Card is an award-winning credit card for those who want to earn cash back on everyday purchases. It includes an array of travel insurance and Visa benefits.
This cash back credit card is great for those who want to build their credit score for a minimal fee while getting rewarded for spending. If you’re looking for a new credit card, this one is worth checking out.
This Scotia Momentum Visa Infinite review covers its benefits, fees, how to apply, and a few cash back credit card alternatives.
- $120 annual fee (waived in the first year)
- $50 annually for each supplementary card (waived in the first year)
- 20.99% interest rate on purchases
- 22.99% interest rate on cash advances
- $5,000 minimum credit limit
- 4% cash back on groceries and recurring payments
- 2% cash back on gas and daily transit purchases
- 1% cash back on everything else
The Scotia Momentum Visa Infinite Card offers a welcome bonus of 10% cash back on all purchases within the first 3 months of using the card (up to $2,000 – valued at $200).
New cardholders also benefit from using the card for free during their first year.
More Scotia Momentum Visa Infinite benefits include:
After the welcome bonus ends, you still earn a good amount of cash back on everyday purchases. With this card, you can earn:
- 4% cash back on bill payments, grocery store, and subscription purchases
- 2% cash back on gas, train, bus, taxi, and rideshare purchases
- 1% cash back on all other purchases
To see how much cash back you can receive, use the cash back calculator.
Visa Infinite cardholders get access to one-of-a-kind experiences and benefits, including 24/7 concierge service, the best rates and room upgrades at participating hotels, and access the Visa Infinite Dining and Wine Country program.
You can also save 25% off base car rental rates at participating AVIS and Budget locations in Canada and the US.
With the Scotia Momentum Visa Infinite Card, you get the following insurance benefits:
Trip Cancellation and Interruption Insurance – get up to $1,500 to $2,000 in coverage per person (up to a maximum of $10,000 per trip) for travel expenses if your trip gets cancelled.
Travel Emergency Medical Insurance – for persons under age 65, get up to $1 million in emergency medical coverage if sudden and unexpected injury or illness occurs while travelling outside your province or territory in Canada.
Travel Accident Insurance – get up to $500,000 in coverage against accidental loss of life or dismemberment while occupying a common carrier.
Delayed or Lost Baggage Insurance – get up to $500 in coverage against the loss or delay of checked luggage.
Flight Delay Insurance – get up to $500 in coverage for necessary living expenses incurred during a delayed flight or missed connection.
Rental Car Damage and Collision Insurance – for rental periods of 48 days or less, get automatic coverage against a collision or loss of the vehicle.
Also included with this credit card is New Mobile Device Insurance and Purchase Security & Extended Warranty Protection.
While the Scotia Momentum Visa Infinite Card provides a high cash back earn rate, it lacks travel rewards and benefits.
With this card, you do not earn any Scene +, Aeroplan, or AMEX points that can be used towards redeeming plane tickets, hotel bookings, and car rentals.
You are not able to turn your cash back rewards into frequent flyer points or anything to do with travel. Thus, you may want to look for another card if you travel often.
Another downside to the Scotia Momentum Visa Infinite Card is the minimum annual income requirement of $60,000 or $100,000 household income. Other similar cash back credit cards, like the SimplyCash Preferred Card from Amex, do not have an income requirement.
To apply for the Scotia Momentum Visa Infinite Card, click here.
To apply, you must:
- Meet the minimum annual income of $60,000 or
- Meet the minimum household income of $100,000 or
- Have minimum assets under management of at least $250,000
A few alternate cash back credit cards include:
The Tangerine World Mastercard is a no-annual-fee cash back credit card. It has an interest rate of $19.95% on purchases and cash advances.
You earn 2% cash back in two Money-Back categories of your choice (with no limits) and 0.50% cash back on all other purchases.
This Mastercard provides other benefits such as Boingo Wi-Fi for Mastercard, travel rewards, and a Mastercard travel pass by DragonPass.
The Scotiabank Gold American Express Card has a $120 annual fee, with each supplementary card costing $29 yearly (first-year fee waived).
The minimum credit limit is $5,000, and the interest rate is 19.99% on purchases and 22.99% on cash advances.
Earn 5x Scene+ points on food, drink, and entertainment purchases, 3x Scene+ points on gas, transit, and streaming purchases, and 1x Scene+ points on everything else.
With the Scotiabank Gold American Express Card, you get access to exclusive Amex offers, events, and similar travel insurance to the Scotia Momentum Visa Infinite Card.
The SimplyCash Preferred Card from Amex is a credit card with a $99 annual fee. It has an interest rate of 19.99% on purchases and 21.99% on funds advances.
After the competitive welcome bonus, you earn 2% cash back on all purchases with no limits to how much you can earn.
The SimplyCash Preferred Card from Amex provides considerable travel and shopping coverage, along with exclusive Amex offers.
To summarize, here’s a comparison table of the four credit cards:
|Scotia Momentum Visa Infinite Card||Tangerine World Mastercard||Scotiabank Gold American Express Card||SimplyCash Preferred Card from Amex|
|Annual Fee||$120 (waived for the first year)||$0||$120 (waived for the first year)||$0|
|Supplementary Card Annual Fee||$50 (waived for the first year)||$0||$29||$0|
|Purchase Interest Rate||20.99%||19.95%||19.99%||19.99%|
|Funds Advance Interest Rate||22.99%||19.95%||22.99%||21.99%|
|Top Rewards||4% cash back on groceries and recurring payments, 2% cash back on gas and daily transit purchases, 1% cash back on everything else||Earn 2% cash back in 2 Money-Back Categories, 0.50% cash back on everything else, Boingo Wi-Fi for Mastercard, Travel rewards||No foreign transaction fees, earn 5x Scene+ points for food & entertainment purchases, earn 3x Scene+ points on gas, transit, & streaming purchases, earn 1x Scene+ points on everything else||Earn 1.25% cash back on all purchases|
|Insurance Benefits||Trip Cancellation & Interruption, Travel Emergency Medical, Travel Accident, Delayed or Lost Baggage, Flight Delay, Rental Car Damage & Collision Insurance||Rental Car Collision/Loss Damage and Mobile Device Insurance||Trip Cancellation & Interruption, Travel Emergency Medical, Travel Accident, Delayed or Lost Baggage, Flight Delay, Rental Car Damage & Collision, Hotel/Motel Burglary Insurance, Purchase Security & Extended Warranty Protection||$100,000 Travel Accident Insurance, Buyer’s Assurance Protection Plan, Purchase Protection Plan|
If you meet the annual income or asset management requirements and value the cash back rewards, this card may be for you.
The Scotia Momentum Visa Infinite card offers between 1% to 4% cash back on everyday purchases, which can add up if you use this card frequently. You also get Visa Infinite benefits and some types of travel insurance.
However, this card probably isn’t for you if you want more travel coverage and rewards. You might want to consider the Scotiabank Gold American Express card or the American Express Cobalt card instead.
Also, this card won’t be for you if you tend to carry an outstanding balance for a long period or will be using it for debt consolidation.
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