Scotia Momentum Visa Infinite Card Review 2024: Is It Worth It?
Jan 8, 2024The Scotia Momentum Visa Infinite Card is a cash-back credit card with notable travel perks.
The Scotia Momentum Visa Infinite Card is a cash-back credit card that offers a generous cash back rate on groceries and a few travel rewards, such as insurance coverage and access to exclusive hotel perks.
Your cash back rewards can be deposited into an eligible Scotiabank Canadian dollar personal chequing or savings account, or redeemed as a statement credit.
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Scotia Momentum Visa Infinite Card full review
Even though the Scotia Momentum Visa Infinite Card offers some pretty sweet travel perks, you don’t need to be a frequent traveller to make use of it. The card’s generous cash-back earning potential on everyday purchases like groceries, gas and daily transit should help you maximize its value.
Benefits of the Scotia Momentum Visa Infinite Card
Complimentary breakfast and WiFi, and late checkout privileges at over 900 Visa Infinite Luxury Hotel Collection hotels worldwide. Plus automatic room upgrades (when available).
Exclusive access to culinary events through Visa Infinite Dining Series.
Complimentary tastings and discounted deliveries from select wineries in Ontario and British Columbia, as well as in-person benefits at wineries in California’s Sonoma Valley, provided by Visa Infinite Wine Country.
Complimentary 24/7 concierge service, which can help you arrange your next vacation, party or special gift purchase.
A comprehensive suite of insurance coverage, such as travel medical and flight delay coverage. However, travel medical coverage is only available to cardholders under age 65.
Savings on car rentals at participating AVIS and Budget locations in Canada and the U.S.
Up to $1,000 in mobile device insurance for new cell phones, smartphones, or tablets purchased with the card.
Drawbacks of the Scotia Momentum Visa Infinite Card
Cash back earned on this card will only be paid out once a year, so it won't be available immediately and can’t go towards reducing your monthly balance, for example.
No flight-related benefits, like free checked bags, priority boarding services or airport lounge access.
Minimum income requirements of $60,000 for individuals, $100,000 for households, or $250,000 in assets under management may deter some users.
Who should get the Scotia Momentum Visa Infinite Card?
With a 4% earn rate on groceries and 2% on gas and transit costs, the Scotia Momentum Visa Infinite Card will be most valuable for frequent drivers and larger households with steep grocery bills. Similarly, it may be a good fit for people who prefer to use their credit card to pay monthly recurring bills, like subscriptions to streaming services, utility bills and gym memberships, which all earn 4% cash back as well.
This Card may also please Canadians who like to elevate their travelling adventures with premium hotel perks and exclusive experiences.
Is Scotia Momentum Visa Infinite Card worth it?
It shouldn’t be difficult to get your money’s worth out of the Scotia Momentum Visa Infinite Card.
You can earn up to $200 in cash back by taking advantage of the current welcome offer. Plus, the $120 annual fee is waived for the first year for new cardholders and each additional card, which boosts the total value to at least $320.
Without the welcome offer, you’d need to spend $3,000 on groceries and recurring payments per year ($250 per month) to earn $120 cash back, enough to offset the annual fee.
Scotiabank customer ratings
Below average in customer satisfaction: Scotiabank ranks ninth out of 13 issuers in J.D. Power’s 2024 Canada Credit Card Satisfaction Study. The Scotia Momentum Visa Infinite Card fared better, ranking above average in the fifth position on the annual fee credit card survey list.
Low Trustpilot rating: Scotiabank scored 1.2 out of 5 possible stars based on over 1000 customer reviews, as of this writing.
Low Better Business Bureau rating: 1.23 out of 5 possible stars based on almost 100 customer reviews, as of this writing.
Scotia Momentum Visa Infinite Card eligibility
Who qualifies for the Scotia Momentum Visa Infinite Card?
To qualify for the Scotia Momentum Visa Infinite Card, you must:
Be a Canadian resident.
Be the age of majority in the province or territory where you live.
Not have declared bankruptcy in the past seven years.
Meet one of the minimum income requirements:
$60,000 in individual income
$100,000 in household income, or
$250,000 in assets under management.
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for.Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.
Scotia Momentum Visa Infinite Card rewards
Earn 10% cash back in the first three months of card ownership, up to a total spend of $2,000. Offer expires October 31, 2025.
Earn 4% cash back on groceries, recurring bills and subscriptions.
Earn 2% cash back on gas and other transit purchases.
Earn 1% cash back on everything else.
After you reach an annual spending limit of $25,000, the 4% and 2% earn rates drop to 1%.
You could earn over $300 in value by taking advantage of Scotia Momentum Visa Infinite Card’s introductory welcome offers in the first year:
10% cash back on all purchases in the first three months, up to a maximum of $2,000 spent, for $200 cash back.
Savings from the annual fee rebate on the primary card in the first year equals $120. Additional cards, such as for a partner, are also free for the first year — a $50 savings for each card.
Point value breakdown
One percent cash back is equal to $0.01. So, for each dollar you spend that’s eligible for cash back with the Scotia Momentum Visa Infinite credit card, you’ll earn $0.01.
If you take advantage of the Scotia Momentum Visa Infinite’s 2% and 4% bonus categories, you’ll earn $0.02 and $0.04 per dollar spent.
How to apply for the Scotia Momentum Visa Infinite Card
If you meet the Scotia Momentum Visa Infinite Card’s eligibility requirements, the application process is fairly simple:
Click on the Apply Now button on the Scotia Momentum Visa Infinite card page.
Read, understand and accept the card’s rates and fees.
Enter your personal details, like name and contact details. Agree to Scotiabank’s Privacy Agreement.
Create a username and password.
Verify your identity.
Submit any required personal data, such as employment information and annual income.
Scotia Momentum Visa Infinite Card vs BMO CashBack World Elite Mastercard
Rewards breakdown
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NerdWallet's take
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NerdWallet's takeCard details
Card detailsReasons you might want a different card
If you’re looking for a card with higher cash-back rates on travel-specific purchases, or prefer travel benefits that include flying and airport perks, you may want to consider another card.
Scotia Momentum Visa Infinite Card facts
Scotia Momentum Visa Infinite Card | |
|---|---|
Card type | |
Fees and interest rates | |
Annual fee | $120.00 |
Regular/purchase APR | 20.99%. |
Penalty APR | 25.99% (27.99% on cash advances) if you miss two payments within 12 months. This penalty APR will stay in place until you’ve made 12 consecutive payments on time. |
Cash advance APR | 22.99%. |
Cash advance fee | $5 to $7.50 per transaction, depending on whether the transaction takes place in Canada or not. |
Balance transfer APR | 22.99%. |
Balance transfer fee | $5.00 |
Foreign transaction fee | 2.5% of the transaction amount. |
Rewards and benefits | |
Intro offer | In the first three months of card use, the Scotia Momentum Visa Infinite Card offers 10% cashback on all purchases, up to a maximum spend of $2,000. |
Reward earn rates | 4% cash back on eligible grocery store purchases, subscriptions and recurring bill payments. 2% cash back on gas and daily transit purchases, such as buses, taxis, trains and rideshare services. 1% cash back on all other purchases. |
Other perks |
|
Insurance coverage | |
Travel accident | Up to $500,000 per covered person and $1 million per event. |
Travel medical | Up to $1 million per insured person under age 65 per trip. |
Flight delay | Up to $500 per insured person. |
Delayed and lost baggage | Up to $500 for all insured persons on a trip. |
Trip cancellation | Up to $1,500 per insured person (includes cardholder, spouse and dependent children) for trip cancellations with a maximum of $10,000 per trip, and up to $2,000 per insured person for trip interruptions with a maximum of $10,000 per trip. |
Rental car theft/damage | For up to 48 days. |
Extended warranty | Doubles manufacturer’s warranty up to one additional year. |
Purchase Protection | 90 days. |
Mobile Device Protection | Up to $1,000 of mobile device protection in case of loss, theft, accidental damage or mechanical issues. Conditions apply. |
Methodology
BACK TO TOPNerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation criteria include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.
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