Scotia Momentum Visa 2021 Review

October 23, 2020
There’s never been a better time to be a Canadian business owner thanks to the American Express Aeroplan Business Reserve Card, a premium card that offers incredible value. For a limited time, earn up to 150,000 Aeroplan points*. Offer ends August 3, 2021. The American Express Aeroplan Business Reserve Card is made from precision cut and engraved 13 g metal. Enjoy access to select Maple Leaf Lounges™* and the Air Canada Café™*.

If you’re a business owner that travels at least once per year, we highly recommend the Aeroplan Business Reserve Card.

*Conditions and caps apply.

A low annual fee of $39 boasts of great daily use perks such as 2% cash back on monthly expenses such as groceries, gas, drug store purchases and monthly recurring bill payments.

If you are looking to do some penny-pinching effectively, Scotia Momentum Visa is the card to go for. Not only does it help you with returns on your daily expenses, it fetches decent purchase and extended warranty benefits as well. Read our review below for more info on how effective the Scotia Momentum Visa can be.

Welcome Bonus 0
Rewards Program 10
Earning Rates 6
Travel Benefits 0
Annual Benefits vs. Annual Fee 4
Referral Program 0
Travel Insurance 0
Purchase Coverage 9
Foreign Transaction Fees 5
Customer Service & Online Experience 5
Total 39
We recommend the Scotia Momentum Visa Card: for those who would enjoy cash backs on their monthly expenses. 
We don’t recommend the Scotia Momentum Visa Card: for frequent travelers as there are no concierge services, travel insurance available with the card. You could instead consider the Scotia Momentum Visa Infinite card or the Amex Cobalt card instead.  

Features & Benefits of the Scotia Momentum Visa Card

Earn Rate on Gas Stations 2%
Earn Rate on Groceries 2%
Earn Rate on Drug Stores 2%
Earn Rate on Recurring Payments 2%
Earn Rate on Travel 1%
Earn Rate on Food & Drink 1%
Companion Tickets
Hotel Benefits
Concierge Service
Foreign Transaction Fee 2.5%
Annual Fee $39

#1 Welcome Bonus

Scotia Momentum Visa does not come with a welcome bonus. However, if you are looking for cards in the Scotia credit cards with a welcome bonus, you can consider the Scotia Momentum Visa Infinite instead. It comes with up to $350 cashback.

Scotia Momentum Visa Card Welcome Bonus Score: 0/10

#2 Rewards Program

The rewards program for the Scotia Momentum Visa Infinite card is Scotia Rewards. With this card, you earn cash back rewards which are elaborated in the section below. 

The cash back system is straight forward where 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. Here is the detailed info on the cash back program with Scotia Momentum Visa.

Scotia Momentum Visa Card Rewards Program Score: 10/10

#3 Earn Rates

Spending Category Cash Back % Earned
Travel 1%
Food & Drinks 1%
Gas & Groceries 2%
Drug Store & Recurring Payments 2%
Other 1%

Scotia Momentum Visa card has 1% cash back earn rate with any eligible purchases. However, the best earn rates for this card is 2% for four categories namely gas, groceries, drug store purchases and recurring bill payments such as phone, cable, utilities, car/home Insurance, and subscriptions. The maximum that you can earn cash backs for the 2% categories is up to $25,000 in purchases. After which, you would earn at a rate of 1% cash back.

Scotia Momentum Visa Card Earn Rates Score: 6/10

#4 Travel Benefits

Scotia Momentum Visa has zero travel benefits. So if you are looking for a travel credit card, this is certainly not the card to go for.

Companion Tickets
Hotel Status
Hotel Benefits/Upgrades
Annual Travel Credit
Airport Lounge Access
Airport VIP
Other Travel Benefits

Alternatively, you can look into the Scotia Momentum Visa Infinite which comes with concierge, hotel benefits/upgrades, and other travel benefits via the Visa Infinite program.  

Scotia Momentum Visa Card Travel Benefits Score: 0/10

#5 Annual Benefits vs. Annual Fee

The annual fee on Scotia Momentum Visa is low ($39) in comparison to other day-to-day cash back credit cards. The major plus point of this card is the rewards program – ‘cash back’ where you get 2% cash back for groceries, gas stations, drugstores, and recurring bill payments, and 1% cash back for other purchases. 

However, it is important to note that the function of this card is focused on daily use and does not provide concierge service or travel perks.

Scotia Momentum Visa Card Annual Benefits vs. Annual Fee Score: 4/10

#6 Referral Program

The Scotia Momentum Visa card does not have a referral program at present. Cards with excellent referral programs by far would be Amex Platinum, Amex Business Platinum, TD credit card at 15,000 MR points, 25,000 MR points, and 10,000 Aeromiles respectively.   

Scotia Momentum Visa Card Referral Program Score: 0/10

#7 Travel Insurance

Scotia Momentum Visa does not have any travel insurance coverage. If you travel often, it is handy to have insurance coverage in your credit card. It saves the hassle of potential issues that you may face during your travel. As simple as baggage delay, flight delays, flight interruptions can help you save on damages you incur. We could suggest the BMO World Elite which comes with $130 or the Amex Cobalt that comes with a monthly (not annual) fee of $10/month. 

Scotia Momentum Visa Card Travel Insurance Score: 0/10

#8 Purchase Coverage

Scotia Momentum Visa has good purchase coverage for its users. For items purchased fully through your Scotia Momentum Visa card, it is insured for 90 days in the event of loss, theft, damage, or fire in excess of Other Insurance. Your purchase will either be replaced or repaired depending on the respective purchase situation. This would be limited to the purchase price or up to $10,000 (whichever lesser). You can also check detailed info on list of items that are not covered in the purchase coverage.

On top of that, Scotia Momentum Visa comes along with an extended warranty plan. If you purchase the item fully on your card, you would receive double the original manufacturer’s warranty for up to one year.    

Scotia Momentum Visa Card Purchase Coverage Score: 9/10

#9 Foreign Transaction Fees

The Scotia Momentum Visa card has an average foreign transaction fee rate at 2.5%. The cash advance fee on this card is $4.

If you are looking for credit cards with no foreign transaction fee, we have a complete guide for you to read in-depth on. 

Scotia Momentum Visa Card Foreign Transaction Fees Score: 5/10

#10 Customer Service & Online Experience

The customer service for Scotia Momentum Visa card is dealt with Scotia Rewards. On the whole, the Scotia Rewards has a decent review of their customer service but this can be subjective to comment on if it's easy to deal with or not. In the event you need to contact the Scotia Rewards Credit Cards hotline, the number to dial is 1-800-387-6556 which is available during office hours from Monday to Saturday with Sunday being closed. That does not make it convenient to have the customer service team available 24/7 but 6 days a week is acceptable. 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 Card Customer Service & Online Experience Score: 5/10

Alternatives To The Scotia Momentum Visa Card

If you are a frequent traveler, you would expect travel benefits – concierge service, airport lounge access, or basic travel insurance. Unfortunately, this card does not cater to any travel benefits. 

Scotia Momentum Visa Infinite

With the Scotia Momentum Visa Infitnite card, you can enjoy the same benefits as the Scotia Momentum Visa card with the addition to enjoying a sweet welcome bonus of up to $350 cash back in valuation, concierge service and comprehensive travel insurance. If you are able to afford the annual fee ($120), then this card should be your pick. 

As a daily use card, this card certainly meets your expectation with accelerated cash back rates of 4% for groceries and recurring monthly bills which is 2% more than what Scotia Momentum Visa offers. Read on our Scotia Momentum Visa Infinite review.  

American Express Cobalt 

American Express Cobalt is a common favourite as a daily use card where you earn great cash backs for a very low monthly fee (). Yes – you read that right. Amex Cobalt card does not have an annual fee but a monthly fee instead. This is a unique characteristic of this card making it flexible for the users to try it out and if it's not for you, you are free to cancel the card instead of incurring the whole annual fee. 

However, if your budget allows you to, you can consider the Amex Platinum card as well where its an all-rounder card for a frequent traveler. If you find it hard to choose between the Amex Platinum and Amex Cobalt, you can read our review to compare both Amex Platinum and Amex Cobalt

Sentence 3: Suggest to read our post on this card and make sure to add the link. 

Who Should Get The Scotia Momentum Visa Card?

As a person with tight monthly budget looking for ways to save on monthly bills, you can certainly consider the Scotia Momentum Visa card. This card comes with a reasonably low annual fee of $39. You can enjoy 2% cash backs on groceries, monthly recurring bills such as your Netflix, mobile bills etc, drugstore purchases and gas station purchases. 

Every penny counts when you are growing your savings. As such, the right card that helps you save on your unavoidable monthly bills would be handy. Scotia Momentum Visa targets individuals with such a need in their monthly expenses. All you need to do is be prompt in your required bill payments and you would see to decent returns on your monthly expenditure. 

Canada's Best Credit Cards

Our #1-Rated Card Of 2021

Earn up to 75,000 Aeroplan Miles (valued at $1,500 - $2,250) with the American Express Aeroplan Card, our #1-rated card in Canada in 2021.

Offer expires August 3, 2021.

For Business Owners

Earn up to 150,000 Aeroplan Miles (valued at $3,000 - $4,500) with the American Express Aeroplan Business Reserve Card, plus 10x the points on gas and restaurant spending.

Offer expires August 3, 2021.

Low Fee, High Value

Earn up to 50,000 MR points (valued at $1,000 - $1,500) with the American Express Cobalt Card, a low-fee card that offers 5x the points on all food and drinks.

Offer expires August 16, 2021.