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Published November 1, 2022

Scotia Momentum Visa Infinite Review

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Best for Canadians who like their cash-back rewards with a dash of premium travel perks.

Scotia Momentum Visa Infinite rating: 5.0/5.0 stars

View star rating methodology.

Scotia Momentum® Visa Infinite* Card

Scotia Momentum® Visa Infinite* Card
  • Annual Fee
    $120
    Waived first year
  • Interest Rates
    20.99% / 22.99%
  • Rewards Rate
    1%-10%
  • Intro Offer
    Up to $200
  • Our Take
    Why we like it

    Earn up to $1,000 in cash back on grocery shopping and recurring bill payments with a 4% rewards rate in both categories.

    Pros
    • It’s rare for a credit card to offer 4% cash back on two major spending categories. It’s even rarer to set a $25,000 annual limit to that 4% — a $1,000 value — before reverting to the healthy 1% base rate.
    • You can waive the $120 annual fee every single year by using the Scotiabank Ultimate Package.


    Cons
    • The cash back earned is hands-off. You have to wait until November, and then it’s only redeemable as a statement credit. If you have a Scotiabank account, that annual payout can be deposited into your bank account.
    • The 4% rate won’t mean much to you if you don’t buy a lot of groceries or often buy your food at somewhere that Visa doesn’t classify as a grocery store or supermarket, such as Canadian Tire, FreshCo, London Drugs, Walmart and No Frills.
  • Product Details
    • SPECIAL OFFER: Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on supplementary cards. Offer ends April 30, 2023.
    • Earn 4% for every $1 you spend on grocery store purchases, recurring bill payments, and subscription purchases.
    • Earn 2% for every $1 you spend on gas purchases and daily transit purchases.
    • Earn 1% cash back on all other purchases with no cash back limit.
    • Redeem cash back as a statement credit in November.
    • Visa Infinite benefits, including Visa Infinite* Concierge, Visa Infinite* Luxury Hotel Collection, Visa Infinite* Dining Series, and entertainment and lifestyle offers.
    • Save up to 25% off base rates at participating AVIS locations and at participating Budget locations in Canada and the U.S.
    • Access to Scotia SelectPay™.
    • To be eligible, $60,000 (individual) or $100,000 (household) annual income is required, or $250,000 minimum assets under management. Also, you must have a Canadian credit file and be a Canadian resident that is the age of majority in the province or territory where you live.
    • Terms and Conditions Apply. Click 'Apply Now' for complete details.

Scotia Momentum Visa Infinite Card pros and cons

Pros

  • Great cash back earning potential on grocery store purchases, subscriptions and recurring bill payments.
  • Access to Visa Infinite’s premium travel perks, like room upgrades and late checkout.
  • Ability to waive the annual fee every year if you use other Scotiabank banking services.

Cons:

  • The accelerated earn rate won’t mean much if you rarely buy a lot of groceries or typically shop somewhere that Visa doesn’t classify as a grocery store or supermarket
  • Limited options for cash-back redemption.

Scotia Momentum Visa Infinite Card full review

The Scotia Momentum Visa Infinite Card is a cash-back credit card that offers a few perks usually associated with travel rewards cards. Cardholders earn cash back on every purchase, while the Visa Infinite program provides access to exclusive hotel, dining and wine experiences.

Your cash back rewards can be deposited into an eligible Scotiabank Canadian dollar personal chequing or savings account, or redeemed as a statement credit.

Is the Scotia Momentum Visa Infinite Card worth it?

It shouldn’t be difficult to get your money’s worth out of the Scotia Momentum Visa Infinite Card. For an annual fee of $120 (which may be waived), you get 4% cash back on grocery store purchases and recurring bill payments, 2% cash back on gas and transit purchases, and complimentary room upgrades, Wi-Fi and breakfast at 900 hotels worldwide.

Point value breakdown

The Scotia Momentum Visa Infinite’s ongoing rate is 1% on non-bonus categories. One percent cash back is equal to $0.01.

So, for each dollar you spend that’s eligible for cash back with the Scotia Momentum Visa Infinite Card, you’ll earn $0.01.

Benefits of the Scotia Momentum Visa Infinite Card

The cash back component of the Scotia Momentum Visa Infinite Card is quite attractive. Receiving 4% cash back on grocery store purchases, eligible subscriptions and recurring bill payments could really add up; so could the 2% cash back offered on transit purchases, including gas, buses, taxis and rideshare services like Uber. You’ll earn 1% cash back on all other purchases.

The travel benefits offered by the Scotia Momentum Visa Infinite Card should get the attention of globetrotters with a taste for the finer things:

  • Visa Infinite provides automatic room upgrades (when available), complimentary breakfast and WiFi, and late checkout privileges at over 900 Visa Infinite Luxury Hotel Collection hotels worldwide.
  • Cardholders receive access to exclusive culinary events through Visa Infinite Dining Series.
  • Wine lovers can enjoy the complimentary tastings and discounted deliveries from select wineries in Ontario and British Columbia, or enjoy the in-person benefits at wineries in California’s Sonoma Valley, provided by Visa Infinite Wine Country.
  • Complimentary concierge services can help you arrange your next vacation, party or special gift purchase.

The Scotia Momentum Visa Infinite Card also offers a comprehensive suite of insurance. Some coverage, like mobile device, trip cancellation and travel accident protection, requires you to charge at least 75% of the original purchase price to your card, but the emergency medical insurance is automatically included for eligible cardholders under the age of 65.

Drawbacks of the Scotia Momentum Visa Infinite Card

Even though the travel perks offered by the Scotia Momentum Visa Infinite Card do qualify as “premium,” they are relatively limited. Travellers used to more flight-related benefits, like free checked bags, priority boarding services and airport lounge access may want to look at other travel rewards credit cards.

The card’s minimum income requirement — $60,000 for individuals, $100,000 for households — may disqualify some applicants. Fortunately, there are other rewards credit cards to choose from.

While it’s unlikely to be a dealbreaker for some applicants, the Scotia Momentum Visa Infinite Card charges an interest rate of 20.99% on purchases, slightly higher than the rate charged by many other cards in Canada.

Is Scotiabank reliable and secure?

Scotiabank was founded in 1832 and is considered one of Canada Big Six Banks. Like many banks and credit unions, Scotiabank carries Canada Deposit Insurance Corporation (CDIC) insurance, which protects customer deposits of up to $100,000 if the bank goes under.

Scotiabank credit card transactions are also protected from losses that result from unauthorized transactions through the Visa Zero Liability Policy. The Policy exempts cardholders from paying for unauthorized purchases, while unique codes and extra steps to confirm card holders’ addresses and identities help prevent fraudulent card use.

» MORE: Read our full Scotiabank review

Scotiabank customer satisfaction ratings

Scotiabank ranks 10th (and below industry average) in customer satisfaction with credit card issuers, according to J.D. Power’s 2022 Canada Credit Card Satisfaction Study, a survey of 6,478 cardholders in Canada [1]. Card issuers were rated on their benefits and services, communication, card terms, customer support and rewards. The credit card issuers with the highest customer satisfaction ratings in the survey were Tangerine Bank, American Express and Canadian Tire.

Scotiabank had a Trustpilot rating of 1.2 out of 5 stars based on more than 600 reviews, as of this writing.

Scotiabank had 1.14 out of 5 stars according to fewer than 90 customer reviews on the Better Business Bureau website, as of this writing. Scotiabank is not rated or accredited by the BBB itself.

Scotia Momentum Visa Infinite

Earn up to $1,000 in cash back on grocery shopping and recurring bill payments with a 4% rewards rate in both categories.

Scotia Momentum Visa Infinite Card

Scotia Momentum Visa Infinite Card details and eligibility

Who qualifies for the Scotia Momentum Visa Infinite Card?

To qualify for the Scotia Momentum Visa Infinite Card, you must:

  • Be a Canadian citizen or permanent resident of Canada.
  • Be the age of majority in the province or territory where you live.
  • Not have declared bankruptcy in the past seven years.
  • Meet one of the minimum income requirements — $60,000 in individual income, $100,000 in household income, or $250,000 in assets under management.

Approximate credit score needed for approval

Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. It also means any score suggestion we make would be our best guess — which may not be accurate and could result in card application rejections. We don’t want that.

Suggesting that you’d need a “good” or “excellent” score would also be confusing, because the meaning of those terms can vary depending on the rating system card issuers use.

Instead, we’ll tell you what we do know: higher scores have better chances of approval — that’s true no matter what type of credit you’re applying for.

Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.

» MORE: How to Check Your Credit Score 

Income requirements

The Scotia Momentum Visa Infinite Card’s minimum income requirement is $60,000 for individuals and $100,000 for households, or a minimum of $250,000 in assets under management.

Who should get the Scotia Momentum Visa Infinite Card?

With a 4% earn rate on groceries and 2% on transit costs, the Scotia Momentum Visa Infinite Card will be most valuable for shoppers who want a cash back credit card that offers bang for the buck. It may also please Canadians who like to elevate their travelling adventures with premium hotel perks and exclusive experiences.

How to know if the Scotia Momentum Visa Infinite Card is right for you

Even though the Scotia Momentum Visa Infinite Card offers some pretty sweet travel perks, you don’t need to be a frequent traveller to make use of it. The card’s generous cash back earning potential on everyday purchases like groceries and gas should translate into constant opportunities to maximize its value.

Value of the Scotia Momentum Visa Infinite Card’s intro offer

You could earn nearly $400 by taking advantage of introductory offers in the first year:

  • 10% cash back on all purchases in the first three months (to a maximum of $2,000 in total purchases): $200.
  • No annual fee on primary card  in the first year: $120.
  • No annual fee on additional cards: $50 per card.
  • Offer expires April 30, 2023.

How to apply for the Scotia Momentum Visa Infinite Card

If you meet the Scotia Momentum Visa Infinite Card’s eligibility requirements,, the application process is fairly simple:

  1. Agree to Scotiabank’s Privacy Agreement and give the bank permission to access your credit bureau report.
  2. Read, understand and accept the card’s rates and fees.
  3. Enter your personal details, like name, birthday and address. Entering your Social Insurance Number at this stage is optional.
  4. Enter your employment information, annual income and monthly housing expenses.

You’ll spend a few minutes customizing your account and rereading your card’s terms and conditions. Then, it’s just a matter of submitting your application and waiting for a response.

How to maximize the benefit of the Scotia Momentum Visa Infinite Card

The Scotia Momentum Visa Infinite Card will be most beneficial if you take advantage of its high cash back earn rates by using it to make your grocery, gas and transit, and recurring bill payments, including subscriptions.

In the first three months of owning the card, you can earn 10% cash back on all purchases, to a maximum spend of $2,000, so be sure to put it to use in those first 90 days. Offer expires April 30, 2023. Just don’t overdo it and saddle yourself with a credit card balance that you might not be able to pay off right away. You don’t want your interest charges to swamp your cash back savings.

Use the card to make hotel reservations at eligible Visa Infinite Hotel Collection properties and you can also save money by scoring free Wi-Fi and breakfast and, if they’re available, automatic room upgrades.

Alternatives to the Scotia Momentum Visa Infinite Card

Reasons you might want a different card

  • You’re looking for even higher cash back earn rates.
  • You prefer travel benefits that target flying rather than hotel stays and experiences.

Scotia Momentum Visa Infinite Card vs BMO CashBack World Elite Mastercard

 Scotia Momentum Visa Infinite CardBMO CashBack World Elite Mastercard
Annual fee$120$120
Ongoing earn rates4% on groceries, subscriptions and recurring bill payments.
2% on gas and transit purchases.
1% on all other purchases.
5% on groceries.
4% on transit.
3% on gas and electric vehicle charging.
2% on recurring bills.
1% on all other purchases.
Travel perksVisa Infinite Luxury Hotel Collection upgrades and freebies,
Visa Infinite Dining Series,
Visa Infinite Wine Country program.
Mastercard Travel Rewards, Mastercard Airport Experiences provided by LoungeKey,
Boingo Public Wi-Fi.

Scotia Momentum Visa Infinite Card Facts

Card type

The Scotia Momentum Visa Infinite Card is a cash-back credit card. Eligible purchases earn cash back rewards that can be deposited into a Scotiabank savings or chequing account, or put toward your credit card’s balance.

The Scotia Momentum Visa Infinite Card also offers some benefits, like hotel perks and insurance coverage, that are typically associated with travel credit cards.

Interest rate

Regular APR

The Scotia Momentum Visa Infinite Card’s regular APR, or annual percentage rate of interest, is 20.99%. Depending on your credit score and other eligibility factors, the interest rate you pay may be higher.

Purchase APR

The Scotia Momentum Visa Infinite Card’s purchase APR, also known as the regular APR, is 20.99%.

Balance transfer APR

The Scotia Momentum Visa Infinite Card’s APR on balance transfers is 22.99%.

Intro APR

There is no introductory APR offered with the Scotia Momentum Visa Infinite Card at this time.

Fees

Annual fee

The Scotia Momentum Visa Infinite Card ‘s annual fee is $120 for the primary card and $50 for each additional card. The annual fee for all cards may waived in the first year, as well as subsequent years, if you meet certain conditions.

Balance transfer fee

Balance transfers to Scotiabank accounts or to non-financial institutions cost $5.00 each.

Cash advance fee

Scotiabank charges $5 for each cash advance made using the Scotia Momentum Visa Infinite Card.

Reward earn rates

Introductory offer

In the first three months of card use, the Scotia Momentum Visa Infinite Card offers 10% cash back on all purchases, up to a maximum spend of $2,000. Offer expires April 30, 2023.

After the introductory period ends, the earn rates are:

  • 4% cash back on eligible grocery store purchases, subscriptions and recurring bill payments. After reaching an annual spending limit of $25,000, the earn rate for these categories will be 1%.
  • 2% cash back on gas and daily transit purchases, such as buses, taxis, trains and rideshare services. After reaching an annual spending limit of $25,000, the earn rate for these categories will be 1%.
  • 1% cash back on all other purchases.

Rewards & benefits

Main reward

The Scotia Momentum Visa Infinite Card’s primary reward is the increased cash back earning potential offered on regular purchases like groceries, bill payments, gas and transit.

Other perks

  • Comprehensive insurance coverage.
  • Visa Infinite Concierge service.
  • Hotel benefits, like automatic room upgrades, late checkout and free breakfast through the Visa Infinite Hotel Collection.
  • Access to exclusive food and drink experiences through the Visa Infinite Dining and Wine Country programs.

Insurance coverage

Travel insurance

Charge at least 75% of your trip costs to your Scotia Momentum Visa Infinite Card and receive up to $10,000 per trip in both trip cancellation and trip interruption insurance. Conditions apply.

Charge the full cost of your travel tickets to your card and receive up to $500 per trip in both lost luggage and delayed luggage insurance.

Charge at least 75% of your ticket costs to your card and receive up to $1 million per occurrence in accidental death/dismemberment insurance when using a common carrier.

Up to $1 million each in emergency medical coverage for any cardholder, spouse or dependent children under the age of 65 for up to 15 consecutive days.

Extended warranty

Charge the full cost of most items to your card and you’ll double the original manufacturer’s warranty for up to one year. Coverage is limited to the lesser of the repair cost, replacement cost, or original purchase price.

Purchase protection

Charge the full cost of an item to your Scotia Momentum Visa Infinite Card and receive automatic insurance against theft, loss or damage for the first 90 days. Coverage is limited to the lesser of the repair cost, replacement cost or original purchase price, and is in excess of any other insurance coverage.

Mobile device protection

Charge the full cost of a new cell phone, smartphone or tablet to your Scotia Momentum Visa Infinite Card and receive up to $1,000 in coverage in the event your device is lost, stolen, accidentally damaged or experiences mechanical failure.

Rental car theft & damage

Charge the full cost of an eligible rental car to your card and be automatically covered by collision loss/damage insurance for up to 48 consecutive days. The vehicle must be rented in your name and you must decline the agency’s collision damage waiver, loss damage waiver or similar provision.

Foreign transaction fees

Transactions that require foreign currency conversions are charged a fee of 2.5%.

Rating methodology

NerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.

  • Frequently asked questions about Scotia Momentum Visa Infinite

    • How is Visa Infinite different from other Visa programs?

      Visa Infinite typically offers travel benefits that standard Visa cards do not, including automatic room upgrades at over 900 hotels around the world, access to exclusive dining and wine-tasting events and complimentary concierge services.

    • Is it hard to get a Visa Infinite card?

      To be approved for a card like the Scotia Momentum Visa Infinite you’ll need a personal income of at least $60,000 or a combined household income of $100,000. The exact credit score you’ll need isn’t publicly available, but a 660 or better increases your chance of approval for cards that offer premium rewards.

Article Sources

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