fbpx

Scotiabank Momentum Visa Infinite Card

Last updated: April 13, 2021
  • 10% Cash back
  • $200 First-year value
Best offer available until August 31, 2021
Signup bonus:
10% cash back in the first three months, up to $200 total cash back for spending $2,000
Annual fee:
$0 for the first year, then $120
Earning rate:
4% cash back for groceries and recurring bills
2% cash back for gas and transit
1% cash back for all other purchases
Insurance:
Strong

Bonuses & Fees

The Scotiabank Momentum Visa Infinite offers 10% cash back on up to $2,000 spent in the first three months. In total, the welcome bonus is worth up to $200.

The annual fee of $120 is waived for the first year.

Earning Rewards

The card has a tiered rewards structure, earning higher cash back rates in popular categories:

  • 4% cash back on groceries and recurring payments
  • 2% cash back on gas and transit
  • 1% cash back on all other purchases

One of this card’s unique features is that it offers quite a high return on recurring payments. This includes any pre-authorized payments to a biller such as a utility company.

Scotiabank has also partnered with popular subscription services, including digital streaming services and meal kit delivery, to be classified as recurring payments. However, other non-recurring entertainment or delivery purchases won’t qualify for the 4% rate.

You can earn at each accelerated rate on up to $25,000 spent per year. That is, you have a combined limit of $25,000 on groceries plus recurring payments, and a combined limit of $25,000 on gas plus transit. If you spend more than these limits, you’ll earn 1% on those purchases.

Redeeming Rewards

Cash back is automatically issued as a credit once per year, on your November statement.

Also, the welcome bonus cash back is awarded separately from regular rewards, arriving seven months later. For example, if you buy groceries during the welcome bonus period, you’d receive the regular 4% cash back on your next statement, and 6% bonus cash back in seven months’ time, totalling the welcome bonus rate of 10%.

Perks & Benefits

Scotiabank Momentum Visa Infinite cardholders can save up to 25% on car rentals at participating Avis and Budget locations in Canada and the US.

The card also comes with all of the usual Visa Infinite benefits, including Concierge service, the Luxury Hotel Collection, and the Dining and Wine Country program.

Insurance Coverage

The Scotiabank Momentum Visa Infinite comes with strong insurance benefits. Coverage includes:

  • Emergency medical insurance of up to $1 million for you, your spouse, and dependent children on unexpected medical illness or injury when travelling out-of-province

  • Trip cancellation and interruption insurance of up to $2,000 per person

  • Flight delay insurance for delays of more than four hours, up to $500 per person

  • Rental car collision or damage insurance, which can help you save on the insurance fees usually charged by car rental companies

Plus, on the purchase protection side, you’ll get a 90-day protection period against damage, loss, or theft for most new items. In addition, you also get extended mobile device protection for your new phone or tablet for a period of two years, up to a value of $1,000.

Apply Now

As a Visa Infinite product, this credit card has a minimum annual income requirement of $60,000 (individual) or $100,000 (household).

Consider supporting Prince of Travel by applying for the card via our affiliate link below.

Alternatively, you may also check websites like Great Canadian Rebates to see if any of their cash back offers on this card might pique your interest.

Josh Greenberg

Your email address will not be published. Required fields are marked *

Have an Account? Click here to Login