Shannon Terrell
Georgia Rose
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Scotiabank is one of Canada’s ‘Big Six’ banks, offering Visa credit cards to both individuals and businesses. The bank’s business credit cards earn either cash back or Scene+ rewards points, which can be redeemed for travel, merchandise, account credits and more.
The best Scotiabank business credit cards
Scotiabank Passport™ Visa Infinite Business* Card
Enjoy complimentary access to airport lounges, pay no foreign transaction fees, and earn Scene+ points on every business purchases with the Scotiabank Passport™ Visa Infinite Business* Card.
Pros
- Pay no foreign transaction fees when shopping online or outside of Canada.
- Complimentary Visa Airport Companion Program membership with six airport lounge visits per year.
- Plenty of travel perks and insurance coverage.
Cons
- No accelerated earn rates in specific spending categories.
- $199 annual fee.
- Earn 1.5X the Scene+™* points for every $1 spent on purchases for your business.
- Enjoy no Foreign Transaction Fees whether you make purchases online or outside of Canada.
- Get access to airport lounges with your complimentary Visa Airport Companion Program membership when you fly for your business.
- Use your points for travel, merchandise, gift cards for your business and more.
- $10,000 credit limit minimum, up to $150,000 unsecured.
- Most items purchased with your Card are insured against theft, loss or damage for 90 days from the purchase date and the manufacturer’s warranty is doubled for up to one year.
- Turn business purchases into business savings with Visa SavingsEdge.
- Visa Infinite Benefits with your Card which include Visa Infinite Concierge and the Luxury Hotel Collection.
- Travel Emergency Medical Insurance – Breathe easy with comprehensive coverage Coverage is provided for eligible persons under age 65 for up to 25 consecutive days and for eligible persons age 65 and older for up to 10 consecutive days.
Scotia Momentum® for Business Visa* Card
Growing companies should look at the Scotia Momentum for Business Visa card for its low annual fee, impressive introductory rate for balance transfers, and strong cash back earn rate on common business purchases.
Pros
- A low introductory interest rate on balance transfers, plus 25-day interest-free grace periods on new purchases.
- Plenty of opportunities to earn cash back.
- Potential credit limits range from $500 to $100,000.
Cons
- No reward bonuses upon card approval.
- Few perks beyond relatively limited insurance options.
- The 3% cash back only applies to the first $50,000 in eligible purchases.
- Intro offer: 2.99% interest rate on balance transfers, Scotia® Credit Card Cheques and cash-like transactions for the first six months (22.99% after that). This rate cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank Account. Offer ends October 31, 2024.
- Earn 3% cash back on recurring bill payments and eligible gas station, restaurant and office supply store purchases — up to a maximum spend of $50,000. 1% cash back after that.
- 1% cash back on all other eligible purchases.
- Cash back rewards can be redeemed as deposits into eligible Scotiabank Canadian Dollar bank accounts or as credits against credit card balances.
- Annual fee: $79 for the primary card and $29 for each supplementary card.
- Credit limit of up to $100,000.
- Insurance offered: out-of province/territory travel emergency medical insurance (up to $1 million each for cardmembers, spouses and dependent children), rental car collision loss/damage insurance (eligible only for rental vehicles valued at less than $65,000), purchase security and extended warranty protection.
- Optional Scotia Business Loan Protection coverage up to $2,000,000.
- Save up to 25% off base rates on car rentals at participating Avis and Budget locations in Canada or the U.S.
- Visa SavingsEdge: receive discounts on business purchases at participating stores.
- Preferred rates: 19.99% on purchases, 22.99% on cash advances, including balance transfers and Scotia Credit Card Cheques.
ScotiaLine® for Business Visa Credit Card
Offering credit line perks like a low variable interest rate and flexible repayment options, the ScotiaLine for Business Visa Credit Card is a straightforward way to cover and track your business’s expenses
Pros
- Secured interest rate as low as prime plus 1%.
- Purchase security and extended warranty protection.
Cons
- Variable interest rate debt can be hard to budget for.
- No rewards.
- No annual fee.
- No cost for supplementary cards.
- Interest rates: as low as Scotiabank’s prime rate plus 1% (secured) or prime plus 3.49% (unsecured).
- Credit limit of up to $500,000 (secured).
- Receive discounts on business purchases with Visa SavingsEdge.
- Save on car rentals with discounts at participating AVIS locations worldwide.
- Purchase security: Most items bought with the card are insured against theft, loss or damage for 90 days from the purchase date.
- Extended warranty: Manufacturer’s warranty is doubled for up to one year on eligible purchases made with the card.
Summary of Scotiabank’s business credit cards
| CARD NAME | APR | REWARDS | INTRO OFFER |
|---|---|---|---|
| Scotiabank Passport™ Visa Infinite Business* Card | 19.99% / 22.99%. | 1.5x Points. | Up to 40,000 Points. |
| Scotia Momentum® for Business Visa* Card | 19.99% / 22.99%. | 1%-3%. | N/A. |
| ScotiaLine® for Business Visa Credit Card | As low as 8.20%. | N/A. | N/A. |
Best Scotiabank Credit Cards
Compare other types of Scotiabank credit card side-by-side and find out the best card that will meet your need with special perks and benefits.
How Scotiabank business credit cards work
The Bank of Nova Scotia, commonly known as Scotiabank, is one of Canada’s Big Six banks.
Scotiabank’s business credit cards are on the Visa network and can be used for purchases and cash advances or as balance transfer cards. With Scotiabank business credit cards, you can earn either cash back or points through Scotiabank’s Scene+ rewards program. Scene+ points can be redeemed for travel, merchandise, dining or account credits.
Types of Scotiabank business credit cards
Business credit cards typically offer higher credit limits than personal credit cards, helping business owners cover the cost of operations. Scotiabank offers a modest selection of business credit cards that fall into two categories:
- Scene+ rewards cards. Rewards credit cards typically generate points to be used with a bank’s own loyalty program. In Scotiabank’s case, credit card users earn Scene+ points that can be redeemed for a variety of merchandise, including travel purchases.
- Cash-back cards. Cash-back credit cards earn cardholders a percentage of the amount spent on eligible purchases. You can generally identify a Scotiabank cash-back card if it has “Momentum” in its name.
Scotiabank also offers a hybrid credit card/credit line for businesses, the ScotiaLine for Business Visa Credit Card. It doesn’t earn any Scene+ points or cash back rewards, but it does provide discounts on certain purchases and car rentals, and purchase security and extended warranty protection for the items you buy for your business. The interest rate is much lower compared to Scotiabank’s actual credit cards.
Common features of Scotiabank business credit cards
Brand affiliations
All of Scotiabank’s business credit cards are Visa cards.
Average interest rates
Scotiabank’s business credit cards that earn rewards each offer interest rates of 19.99% on purchases and 22.99% on cash advances.
The ScotiaLine for Business Visa Credit Card, on the other hand, offers a variable interest rate. Secured cards can score a rate as low as 1% over the bank’s prime rate, while unsecured cards can get a rate as low as prime plus 3.49%.
Annual fees
Scotiabank’s business credit cards each charge an annual fee, which gets paid at the beginning of each year a card is used. Here’s how the annual fees break down:
- Scotiabank Passport™ Visa Infinite Business* Card: $199.
- Scotia Momentum® for Business Visa* Card: $79.
- ScotiaLine for Business VISA Credit Card: $0.
Generous credit limits
Both of Scotiabank’s business credit cards, as well as the Scotialine for Business Visa Card, offer unsecured credit limits of up to $150,000. The ScotiaLine for Business Visa Credit Card offers a secured limit of up to $500,000.
Additional perks
Both of Scotiabank’s business credit cards offer useful perks, such as discounts at certain retailers and extended warranty protection. But they differ beyond that.
The Scotiabank Passport™ Visa Infinite Business* Card, for example, is one of the credit cards that offer airport lounge access, travel emergency medical insurance, no foreign transaction fees and other travel-related benefits.
The Scotia Momentum® for Business Visa* Card offers less robust insurance coverage, but it does come with a 25-day interest-free grace period on new purchases.
Opportunities to earn rewards
Scotiabank’s business credit cards earn two types of rewards: Scene+ points, which can be redeemed for a variety of products and experiences, and cash back.
The Scotiabank Passport™ Visa Infinite Business* Card can help you earn 1.5 Scene+ points for every dollar spent on business purchases. Points can be redeemed for travel, gift cards for your business or other merchandise.
The Scotia Momentum® for Business Visa* Card, offers a 3% cash-back earn rate on eligible gas station, restaurant and office supply store purchases, and on eligible recurring bill payments. offer earn rates of 2% or lower once their introductory periods expire. You can earn 1% cash back on all other everyday purchases.
Scene+ rewards program
Scene+ is Scotiabank’s proprietary rewards program, which it operates with movie theatre chain Cineplex Odeon. While Scene+ points can be collected and redeemed at Cineplex theatres, that’s only part of the program.
Scene+ points can also be earned at a variety of grocery stores and their associated pharmacies, including large national chains like Sobeys, Safeway, Foodland and FreshCo; and at restaurants like Harvey’s, Swiss Chalet and Montana’s. Rewards can also be earned by booking travel through Scene+ Travel and making online purchases with Scene+ Rakuten.
Scene+ points can be redeemed for merchandise, travel purchases, entertainment experiences and account credits.
How to choose the best Scotiabank credit card for your business
When choosing any credit card, one of the first things to watch out for are eligibility requirements your business may not be able to satisfy, including those related to annual revenue and your personal credit score.
You’ll also want to compare cards based on their:
- Annual fees. Fees vary wildly from card to card, from nothing to hundreds of dollars per year. It’s an especially important factor if you’re getting multiple cards for your small business.
- Interest rate. If you generally keep a balance on your card from month to month, it’s worth looking for a card with a lower interest rate.
- Rewards structure. If rewards are a priority when applying for a business credit card, you’ll typically have to choose between collecting points or earning cash back. Opting for the rewards most relevant to your business will help you save the most money.
Who should consider a Scotiabank business credit card?
Scotiabank’s business credit cards should meet the needs of small business owners looking to cover and track their companies’ spending.
Being on the Visa network means Scotiabank’s credit cards will be accepted virtually everywhere, and the rewards offered can help businesses save money. If you’re already a Scotiabank personal banking customer, applying for a card for your business should be relatively easy.
Because some Scotiabank rewards are paid out in Scene+ points, they’ll be most valuable to business owners who regularly buy from Scene+ partners and book travel through Scene+ Travel.
How to get a Scotiabank business credit card
- To apply for a Scotiabank business credit card, visit the Scotiabank website, find the card you’re interested in and click “Apply Now”.
- If you’re not currently a Scotiabank customer, you’ll start your application by creating a profile. Note that your business must be registered in Canada and that your account cannot be used by a third party.
- Answer a few questions about your business.
- Enter your personal information. If your business isn’t your primary form of employment, you’ll have to provide information about your current employer. You may also have to consent to Scotiabank collecting a credit bureau report to confirm your identity.
- Review the information you’ve submitted.
- Submit your application.
Frequently asked questions about Scotiabank business credit cards
We like the combination of travel perks and rewards opportunities offered by the Scotiabank Passport™ Visa Infinite Business* Card, but the best Scotiabank credit card for your business will depend on how its rewards, annual fee and interest rate fit your company’s needs.
Scotiabank’s business credit cards offer unsecured credit limits of $150,000. If you opt for the ScotiaLine for Business Visa Credit Card, you can get a secured credit limit of up to $500,000.
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