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Scotia Momentum No-Fee Visa Review

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If you’re looking in the market for a new, low-interest credit card, you may want to consider thinking about signing up for the Scotia Momentum No-Fee Visa Card. But what are these cards’ strengths and weaknesses? And is this the best credit card for you?

Let’s take a closer look at this credit card in this review of the Scotia Momentum No-Fee Visa.

Scotia Momentum No-Fee Visa

Scotia Momentum No-Fee Visa

Rated 4.5/5 stars.

Our Review

  • Welcome Offer 5% cash-back for the first 3 months (up to $2,000 in total purchases)
  • Annual Fee $0
  • Interest Rates Purchases: 19.99%, Cash Advances: 22.99%
  • Recommended Credit 660-724

Scotia Momentum No-Fee Visa Card Overview

The Scotia Momentum No-Fee Visa Card is a budget cashback credit card, offered by Scotiabank, one of Canada’s biggest banks.

It offers 1% cashback on four spending categories, with no annual fee. It’s the most ideal credit card for Canadians with the most minimal credit card needs.

Annual Fee $0
Purchase Interest Rate 19.99%
Cash Advance Rate 22.99%
Interest Free Period Up to 21 days
Minimum Credit Limit $500

Sign-Up Process

The easiest way to sign up for the Scotia Momentum No-Fee Visa Card is to apply online. The entire application process takes just a few minutes, and you’ll have to answer a few questions about your personal information, job, income, and your expenses.

A vast majority of people who apply for the Scotia Momentum No-Fee Visa Card will find out right away whether they’re approved or not.

You might not find out immediately in some circumstances and will have to wait a few days to get your approval.

Scotiabank offers a live online chat if you need any help with the application. You can also get help over the phone by calling Scotiabank’s 1-800 number.

If you’ve been in Canada for three years or less, you’ll need to go to a Scotiabank branch to sign up for the card.

You can also sign up in person if applying online isn’t an option for you. You should also note that the approval process will take longer than it will when applying online if you apply at a branch.

Sign-Up Requirements

To sign up for the Scotia Momentum No-Fee Visa Card, you will need to have an annual income of at least $12,000.

You’ll also need to show that you have the income required to cover your requested credit limit, as well as your living expenses.

To obtain this card, you’ll also need to be a Canadian citizen or permanent resident of Canada.

Additionally, you must not have declared bankruptcy in the past seven years.

The card also has a minimum credit limit requirement of $500.


As you might have guessed, the Scotia Momentum No-Fee Visa is as no-frills as no-frills credit cards get. Still, it offers a humble selection of cashback rewards, many of which might exceed its competitors.

While minimal in rewards and cashback offerings, this no annual fee credit card is perfect for those who require minimal cashback options from their credit cards.

The Scotia Momentum No-Fee Visa offers 1% cashback on all eligible purchases at gas station, grocery store, and pharmacy purchases. It also offers 1% and recurring payments on bills. All other purchases earn 0.5% cashback.

The Scotia Momentum No-Fee Visa also offers customers a 25% discount off base rates when renting a vehicle through AVIS. It also comes enabled with Visa Paywave.

You can also add a supplementary cardholder to this credit card account.

Scotia Momentum No-Fee Visa Card Pros and Cons


  • No annual fee: The Scotia Momentum No-Fee Visa comes with no annual fees.
  • Excellent cash back categories: For a no-fee credit card, the Scotiabank Momentum No-Fee Visa offers diversified options for cashback categories covering most of the average Canadians' daily purchases.
  • Minimum income requirement: This is one of the few credit cards available on the market with a low income earning requirement, making it ideal for people with minimal credit card needs.
  • Discount on car rentals: If you're looking to rent a car, the Scotia Momentum No-Fee Visa allows AVIS customers to save 25% on base rates for car rentals.


  • High annual interest rate: For a discount credit card, the Scotiabank Momentum Visa Infinite offers a higher annual interest rate on purchases and cashback than competing no-fee cards, or other Scotia credit cards, for that matter.
  • Lackluster perks: If you don't drive or rent cars often, this card doesn't offer the best additional perks.

Our Final Thoughts

The Scotia Momentum No-Fee Visa Card is a great choice if you are looking to get your first credit card or require an affordable credit card without the bells and whistles.

If you make daily purchases at grocery stores, pharmacies, and gas stations or use your credit card for recurring bill payments, this is the right card for your daily needs.

Frequently Asked Questions

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