How do I save on my monthly mandatory payments? Scotia Momentum Visa Infinite helps to earn cash back on different categories – 4% cash back for groceries and recurring payments, 2% on gas and daily transit, 1% on any other purchases. That’s not all! You can enjoy comprehensive travel insurance coverage and concierge services to assist in your restaurant/travel reservations and recommendations on your purchases. Read our review below for more info.
|Annual Benefits vs. Annual Fee||10|
|Foreign Transaction Fees||4|
|Customer Service & Online Experience||5|
We don’t recommend the Scotia Momentum Visa Infinite Card: frequent travellers. The card does not have impressive travel benefits or foreign transaction fee. If you are looking for better travel benefits, you can consider Amex Platinum or BMO World Elite Mastercard
Features & Benefits of the Scotia Momentum Visa Infinite Card
|Welcome Bonus Points||Up to $350|
|Earn Rate on Groceries & Recurring Payments||4%|
|Earn Rate on Travel||2%|
|Earn Rate on Food & Drink||1%|
|Comprehensive Travel Insurance||✓|
|Foreign Transaction Fee||2.5%|
|Interest Rates (only if they’re different from 19.99% and 22.99%)||20.99% on purchases|
22.99% on cash advances
#1 Welcome Bonus
The welcome bonus is $350 cash back valuation. First, you would earn 10% cash back in all purchases for the first 3 months up to $2,000 total (depending which criteria is fulfilled first). Second, you would have a waiver on the annual fee in the first year for both primary cardholder and supplementary cards.
Scotia Momentum Visa Infinite Card Welcome Bonus Score: 7/10
#2 Rewards Program
The rewards program for the Scotiabank Momentum Visa Infinite card is Scotia Rewards. With this card, you earn cash back rewards which is elaborated in the section below.
The cash back system is straight forward, as you have flexible categories to redeem cash backs. You don’t require any registration to be eligible for cash backs. Once your card is activated, you will automatically qualify for cash backs. The ease of redeeming cash backs is simple and automated which is great for your daily use.
Scotia Momentum Visa Infinite Card Rewards Program Score: 10/10
#3 Earn Rates
|Spending Category||Cash Back % Earned Per Dollar Spent|
|Food & Drinks||1%|
|Gas & Recurring Payments||4%|
|Gas & Daily Transits||2%|
You can earn 2% cash back at gas stations, paying at the pump, buses, taxis, trains, rideshare including Uber. You can earn 4% for grocery purchases and recurring payments such as insurance premiums, utilities, gym memberships, popular video or music streaming (Netflix), meal kit delivery and lifestyle boxes.
With the welcome bonus, you can maximise 10% cash back from $2000 within the first 3 months on any kind of purchase. That gives you $200 in value.
Let’s say in a year where you don’t enjoy the welcome cash back of 10%,
|Purchase Type||Purchase Value ($)||Cash Back Earned ($)|
|Recurring Bill Payments or Subscriptions||180||7.2|
In a month where you spend an average of $825 on your Scotia Momentum Visa card, you can earn back $20.15. In a year, that is an approximate $242 cash back. This can cover more than double of your annual fee of $120 and you can enjoy your card benefits as well.
Sentence 3: Elaborate on the earn rates where the card performs best. Perform calculations and give examples if it will help the reader grasp the importance of those earn rates. Note: if the earn rates are nothing special, like 1 point per dollar earned, you can ignore this.
Scotia Momentum Visa Infinite Card Earn Rates Score: 10/10
#4 Travel Benefits
The travel benefits of the Scotia Momentum Visa card has an average performance.
|Annual Travel Credit|
|Airport Lounge Access|
|Other Travel Benefits||✓|
You can enjoy the Visa Infinite Hotel Collection, Visa Infinite* Dining and Wine Country program and Visa Infinite Concierge services. Full details on the extent of the hotel upgrade and concierge services can be found on Visainfinite.ca.
Scotia Momentum Visa Infinite Card Travel Benefits Score: 5/10
#5 Annual Benefits vs. Annual Fee
The annual fee is $120 which is considerably low as per market rate. Reason being – it comes with premium benefits – comprehensive insurance coverage, accelerated cash back rates for daily and essential spending and concierge services.
To top it off, there is a waiver on the first year annual fee for primary cardholder and supplementary cards which is a good deal on top of the cash back earnings you stand to earn.
Scotia Momentum Visa Infinite Card Annual Benefits vs. Annual Fee Score: 10/10
#6 Referral Program
Unfortunately, Scotia Momentum Visa Infinite does not have a referral program.
Scotia Momentum Visa Infinite Card Referral Program Score: 0/10
#7 Travel Insurance
|Emergency Medical Insurance (Out of province/country)|| $1,000,000|
for you, your spouse and accompanying dependent children each up to 15 days (for ages below 65)
|Travel Accident Insurance||$500,000|
|Trip Cancelation Insurance||$1,500|
|Trip Interruption Insurance||$2,000|
|Baggage Delay & Flight Delay Insurance||$500|
|Lost or Stolen Baggage Insurance||$500|
|Hotel/Motel Burglary Insurance|
|Car Rental Theft and Damage Insurance||$50,000|
Scotia Momentum Visa Infinite has a good insurance coverage which is comprehensive. The coverage is comparable to cards with higher annual fees which is why this card scores high in our point of view.
Scotia Momentum Visa Infinite Card Travel Insurance Score: 8/10
#8 Purchase Coverage
The purchase coverage for Scotia Momentum Visa is good. It is one of the few cash back Visa Infinite cards that come with Mobile Device Insurance benefit where you are covered up to $1,000 in the event your cell phone, smartphone, or tablet is lost, stolen, accidentally damaged, or experiences mechanical failure. Of course, you enjoy this coverage if you purchase your device with your Scotia Moment Visa Infinite card.
The purchase coverage is solid as well where you get 1 year or more (or doubles the manufacturer’s warranty) in the extended warranty as long as the card was charged fully for the product purchase cost. Coverage extends for the first 90 days from the date of purchase and is limited to the lesser of the repair cost, replacement cost or original purchase price
Scotia Momentum Visa Infinite Card Purchase Coverage Score: 9/10
#9 Foreign Transaction Fees
The foreign transaction fees are rather average on the Scotia Momentum Visa Infinite card. The foreign transaction fee is 2.5%. The cash advance fee is $5. However, there are other cards with a lower cash advance fee at $4 such as Canadian Tire Triangle Mastercard and Canadian Tire Triangle World Elite Mastercard where both comes with $0 annual fee.
Scotia Momentum Visa Infinite Card Foreign Transaction Fees Score: 4/10
#10 Customer Service & Online Experience
Scotia Momentum Visa Infinite is connected to the Scotia Rewards customer service team. You can access the customer service team via call between 8am and 8pm (EST) Monday to Friday and via email. Alternatively, you can reach out via their official Twitter (@ScotiabankHelps) from 8am – 11pm ET 7 days/week. The online experience to check your statement balance and credit info is adequate to use.
Scotia Momentum Visa Infinite Card Customer Service & Online Experience Score: 5/10
Alternatives To The Scotia Momentum Visa Infinite Card
Scotia Momentum Visa Infinite is not for the avid traveller who is looking for comprehensive travel benefits. Here are two suitable alternatives for your consideration:
Alternative Card #1 American Express Platinum
Highly rated in terms of customer service and concierge services to assist in your travel requirements, Amex Platinum emerges as a favourite to avid travellers. Among the many benefits is the airport lounge access via Priority Pass program, companion flight ticket, hotel upgrades and annual travel credits privileges. This is, in our opinion, one of the best credit cards for Canadians today. For more details, read our Amex Platinum review.
Alternative Card #2 BMO World Elite Mastercard
BMO World Elite Mastercard comes with great travel benefits such as airport lounge VIP access via Loungekey program <tag Loungekey post> and earns BMO points that can be used to redeem flights, hotel stays and cruises. To add on, you receive comprehensive travel insurance. Read our BMO World Elite Mastercard review for detailed info on the card features and benefits.
Who Should Get The Scotia Momentum Visa Infinite Card?
If you are looking for a card that helps you save on your daily/monthly spending on groceries and bill payments, Scotia Momentum Visa is a winner. The 4% cash back earn rate would be useful for working adults, young couples and senior citizens who hope to score savings from their required spending. As long as you have a minimum annual income of $60,000 or a minimum household income of $100,000 or minimum assets under management of $250,000, you stand a chance to be a proud owner of the Scotiabank Momentum Visa card. If you need more info on the Scotia Momentum Visa Infinite card, you can take a look at their detailed terms and conditions. Otherwise, click below to apply for the card today.