Credit Card Review & Application

4.0

out of 5

- 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)◊
- Cash back with low annual fee
- 2% on eligible gas station, grocery store and drug store purchases and recurring bill payments
- 1% cash back on all other eligible everyday purchases



Introductory APR: 2.99%*
Introductory Period: 6 months on BT
APR on Purchases: 19.99% *
Annual Fee: $39*
Card Issuer: Scotiabank
Card Network: VISA
Card Category: Consumer (Premium)
Card Type: - Instant Decision Card
- Reward Card
Credit Needed: Good*

We break down the best perks and benefits for the Scotia Momentum VISA, the surprising options and why it's a fine choice for those looking for a more streamlined cash back program for everyday purchases.

You'll earn 2 percent cash back on those everyday purchases and you'll maximize your cash back in other ways, as well. You're guaranteed a minimum of a $500 credit line when you're approved for this Visa, low interest rates and you can transfer balances from your high interest rate cards to the ScotiaBank Visa. For those who can appreciate a trip around the world, you'll enjoy worldwide acceptance. Travel easier knowing you have the latest in technological safety and credit protection tools.

Other technology-driven benefits include eligibility for My Mobile Wallet, the convenience of Visa payWave and Visa Checkout - we know your time is valuable and these tools keep you moving through your day. While the security features from both ScotiaBank and Visa incorporate the latest safety technology, card members may also opt to purchase extended warranty protection so that they're never stuck with the wrong size, a defective product or broken promises from a merchant.

The power and commitment of ScotiaBank means card members can use it time and again with confidence, knowing they finally have the right credit card that meets their needs. It's about buying power, great rewards, lower fees and an APR that just makes good financial sense. Want to calculate your savings, how much you're paying in interest or even your monthly minimum payment with various balances? The ScotiaBank calculator is a convenient way of ensuring you're meeting all of your financial goals.

When ScotiaBank and Visa team together, you're afforded double protections. This credit card delivers the power of Visa and the reliability and loyalty of ScotiaBank. The goal is to change the way many consumers see banks, credit card networks and money as a whole. With a credit card offer like this, there's a familiarity consumers have been missing with other banks over the years. It includes impressive customer service with a sense of committed efforts to ensure consumers are happy with both the service they receive and the products they use; much like the way banking used to be.

Canadians deserve better protections. It's never been more important to acknowledge the changing financial landscape, but to empower consumers as well. Not only is the customer service the best in the industry, but the security protections are the most current advances for any industry. In fact, the ScotiaBank Visa comes with several layers of safety efforts.

For consumers who are looking for something better; something that doesn't make them feel like they had to trade one perk for another, this credit card offers those classic benefits, lower APRs and fewer fees. Couple that with worldwide acceptance, and you just might have found the perfect card for your needs. Did you know you're always afforded at least 21 days grace period? Need to add someone else to your account? No problem - a simple phone call is all it takes for an additional Momentum Visa.

This is an offer that will have you reaching for your ScotiaBank Visa time and again. This cobranded effort brings together some of the most respected and recognized brands in the world and the technology behind the security provides peace of mind. This is the total package approach that consumers have waited for and what they deserve. Your good credit ensures approval and our commitment to your satisfaction provides confidence and peace of mind.

Before you apply, be sure to read the terms and conditions, just as you would with any other financial contract. There are three convenient ways to apply for your new Visa Momentum. You can apply in just three easy steps and five short minutes online, you may call back the ScotiaBank Credit Card Centre or you can meet with one of the many knowledgeable ScotiaBank customer service representatives at any of the local bank branches. Once you're approved, your new Visa will be sent in no time. Have questions? No problem - our team of experienced customer service representatives stand ready to answer those questions and you can check out the Frequently Asked Questions page. Apply today.


The review prepared by

Reward Types: - CashBack Reward Cards
- Gas Reward Cards
- Universal Reward Cards
Reward Unit: Cash
Rewards: - 2% on eligible gas station, grocery store and drug store purchases and recurring bills
- 1% cash back on all other eligible purchases
Expiration: None*
Yearly Limit: None*
Other Benefits: - Visa payWave
- My Mobile Wallet
- Special Discounts on AVIS Car Rentals
- Scotia Credit Card Protection (optional)
*See terms and conditions of the card for other benefits
Comments: The introductory 2.99% interest rate applies to cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) only (the "Offer"). This rate applies when the new Scotiabank credit card account ("Account") is opened by the defined period (see website for details) (the "Offer End Date") and will continue for 6 months from that date ("the Promotional Period"). This offer cannot be used to transfer a balance from another Scotiabank Account or to make a payment or deposit to another Scotiabank Account. After the Promotional Period, the 2.99% interest rate on any promotional balances (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on cash advances (including balance transfers, Scotiabank® Credit Card Cheques and cash-like transactions) that applies on your Account. Offer applies only to new Scotiabank credit card accounts opened by the Offer End Date. Former or current Scotiabank credit cardholders that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account are excluded from this Offer. Offer may be changed or extended and cannot be combined with any other offer.

The preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). Rates and fees are subject to change.

A 1% Promotional Rate Fee (minimum fee of $3.50) will be charged on the amount of any promotional rate cash advances (which includes balance transfer, Scotia® Credit Card Cheque and cash-like transactions).
Online Account Access: Yes
Introductory APR: 2.99%*
Applied Towards: Balance Transfer, Cash Advance, Checks
Introductory Period: 6 months on BT*
APR on Purchases: 19.99% *
Annual Fee: $39*
Grace Period: See Terms*
Min Credit Line: $500
Late Payment Fee: N/A*
Over Limit Fee: $29.00
Balance Transfer: Yes
Transfer Fee (%): 1.00%
Minimum Fee: $3.50
APR Cash Advances: 22.99%
Cash Advance Fee: 1.00%
Minimum Fee: $3.50
Additional Fees Foreign Currency Conversion fee: 2.5%
Supplementary card Holder annual fee: $15
Dishonoured Payment Fee: $48
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† Published on Nov 2, 2018. Information relating to the Scotia Momentum VISA Card may change without notice as a result we cannot guarantee the accuracy of details above. It is important you read the terms and conditions attached to a product before submitting the application.




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