Scotiabank Momentum Visa Infinite Card Review

Scotiabank Momentum Visa Infinite

Eligible purchases (including the purchase of less, refunds, returns and similar credits) do not include payment of cash advances (including balance transfers) or ScotiaA (r) Credit Card checks or cash-like transactions, interest, fees or other fees. Subject to the above exceptions, Scotiabank small business credit cardholders are entitled to an annual waiver for the first year (if offered). Eligible purchases (including the purchase of smaller amounts, refunds and refunds and other credit-like benefits) do not include cash advance payments (including funds transferred) or Canada credit card checks, cash or similar transactions or interest, fees or fees other costs. 

Earn $4 for every dollar you spend on groceries, subscriptions, purchases, and recurring bills. In addition, earn 10% cash back on purchases up to $2,000 in total purchases for the first 3 months without paying an annual fee for the first year (includes additional welcome offers on $350 cards ). After the offer date, you will receive regular cash for eligible purchases at a regular cash rate or cash program rate at the cash rate as described in the program terms and conditions. 

The Scotia Gold American Express Card offers you 25,000 bonus points for Scotia Rewards and $250 back on your first $1,000 of daily spending for the first 3 months. Earn 5x Scotia Rewards Points (eligible for $1 back for spending on groceries, restaurants and entertainment). As well, earn 2% for each dollar you spend on gasoline and daily transit purchases, including buses, taxis and ride-sharing services. 

Few cards offer the same cash value as Scotia Momentum Visa Infinite card for Canadians who have ordinary expenses such as groceries, vehicles, gasoline at the pump, and recurring bills. In addition, the low Canada Momentum Visa Infinite and Meridian Visa Infinite cashback cards offered by Tangerine World and Mastercard, respectively, have annual fees that will appeal to many people.

The Scotiabank Momentum Visa Infinite is one of the few cash cards that offer incentives for transit shopping, taxis, public transportation and ride-sharing, making the cards more attractive, especially if you are out with your own car behind the wheel. In Canada, Visa Infinite Card is consistently one of the best cash card categories in its category, with travel benefits, extended car rental warranties, insurance discounts, concierge services and more. However, the usual rate of 4% for food and recurring bills, 2% for gas and transit purchases and 1% for other purchases are unbelievable. 

With 10% cashback on all purchases in the first 3 months, up to $2,000 in total purchases, and an annual fee of $1, the first year in use earns $900 in the first year of the card use. All in all, this card offers incredible value, and I highly recommend it. Based on offers like 4% cashback on grocery purchases, recurring bills and 2% cashback on fuel and daily transit spending, the Scotia Momentum Visa Infinite card beats most of its closest competitors in terms of the total value. 

For those who do not wish to pay an annual fee on a credit card, this card offers several premium benefits that we will discuss later in this report. We waived the initial annual fee for the primary card and additional accounts in the first year. If you sign up for a new card in the first year, the annual fee is waived.

You must have a minimum annual income of $60,000 to qualify for the card. This offer applies to new Scotiabank credit card accounts opened on or after October 31, 2019. Additional tickets issued before this date are also eligible. 

The card also has a wide range of insurance policies, including mobile phone cover. Scotiabank’s website says you must have a minimum annual income of $60,000 and a household income of at least $100,000 for the cashback credit card.

If your income does not meet the $60,000 per year threshold, you may want to try the Canada Momentum Visa Card or the Canada Momentum No-Fee Visa Card to get similar benefits.

Log into your Scotiabank account and navigate to the Rewards page. Once you decide, your rewards will be deposited into an eligible ScotiaBanks check or savings account, where they will be credited to your credit card statement. Along with your cash rewards and TD Cashback, the VISA Infinite offers up to $3 back on gasoline and comes with free roadside assistance and a 12-month membership bonus starting in November (not the month of the year on other cards). 

Overall, I think credit cards are a great opportunity for people and families to earn great cash rewards for their spending. However, those spending a lot on gas may be disappointed with the 2% cashback rate earned on this card, especially considering that other cashback cards offer higher fuel prices. Talk to anyone with knowledge of Canadian credit cards, and they will tell you that Scotia Momentum Visa Infinite card is Canada’s best cashback card.

The 2% return on gas is respectable, and many of the best credit cards with annual fees in Canada offer the same rate. As you can see from the above list, the cashback offer is delicious for the average donor and does not exceed the maximum threshold. Choose wisely if you’re looking for a targeted rewards program or a fee-free card.  

Cardholders can expect purchases that do not fall into this category to receive the standard rate of 100%. Extended warranty and insurance coverage cover theft, loss or damage to most items purchased with your card. To cover the full cost of your new mobile device, your card will charge your wireless bill for paying the device on your card if you finance the purchase with a different plan.

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