We detailed some changes coming to the , with the biggest ones being a change in earn rates and no foreign transaction fees.

But it wasn’t the only Scotiabank credit card destined to see some changes on August 1, 2019.

The , our top rated cash back card is also getting revised.

Scotiabank Momentum Visa Infinite to come with mobile device insurance

The biggest change to the card is it’ll now come with mobile device insurance.

Mobile device insurance covers you for up to a set amount if your phone is lost, stolen, or damaged. This amount usually depreciates over time as your phone gets older.

All you have to do is either charge the full cost of the device to the credit card, or pay the monthly plan with your credit card if your phone was included as part of the plan.

Not many Canadian credit cards offer this type of insurance, making it a rare cherry on top of an already delicious card.

Related: Best Travel Insurance Credit Cards In Canada For 2019

Details of the other changes coming

Of course, it’s not the only change coming…

The other big change is the earn rates. Starting August 1, 2019, the new earn rates for cash back are:

Old earn rate New earn rate as of 08/01/19
* 4% on gas and grocery
* 2% on drugstore and recurring bills
* 1% on all other purchases
* 4% on groceries and recurring bills
* 2% on gas and transit
* 1% on all other purchases

There are still 2 categories earning 4% and 2 categories earning 2% ‒ they’ve just been shuffled a bit.

The travel insurance is also getting a slight change with the addition of trip cancellation insurance for $1,500. Aside from that, there’ll be no other changes to the insurance package.

The last change is to the annual fee. It will be increasing from $99 to $120.

Plus up to 4% cash back.
Ends Dec 18, 2019.

Is Scotia Momentum Visa still a top cash back?

With all that in mind, we have to ask ourselves…Is the card worth it?

For most people, the answer is yes. Unless you’re a big gas or drugstore spender, you probably won’t see much change in your rewards.

And, the mobile device insurance makes up for the increased annual fee of $120.

If you want to try the card out, it currently has a first year free offer so you can see how it works for you.

However, if you don’t like the changes coming, our rate your wallet tool can help you find something more suitable for you.

Related: Scotiabank Gold Amex With No Foreign Exchange Fees Starting August 1, 2019

Alternative cards to consider

If you don’t like what’s coming, here are some alternate Scotiabank credit cards to consider in its place.

Credit Card Welcome Bonus Earn Rate Annual Fee Apply Now
Scotiabank Gold American Express 15,000 points (terms) * 5 points per $1 on restaurants, groceries, and entertainment
* 3 points per $1 on gas, transit, and select streaming services
* 1 point per $1 on all other purchases
$120 Apply Now
TD Cash Back Visa Infinite 10% cash back in the first 3 months (terms) * 3% cash back on groceries, restaurants, and recurring bills
* 1% cash back on all other purchases</td >
$120, first year free Apply Now
Scotiabank Passport Visa Infinite 25,000 points (terms) * 2 points per $1 spent on dining, gas, transit, and entertainment
* 1 point per $1 everything else
$139 Apply Now

Scotiabank Gold American Express

The other Scotiabank card seeing changes soon, the , will offer 5 points per $1 spent on groceries, restaurants, and entertainment purchases, as well as 3 points on gas, select streaming services and transit purchases.

When redeemed for travel through Scotia Rewards, that up to a 5% return on your spending.

To top it off, it’s also getting no foreign transaction fees as well.

TD Cash Back Visa Infinite

For a higher cash back earn rate on gas, the is a choice to consider.

Earn 3% on gas, recurring bills, and groceries. And while those last 2 categories are lower, it makes up for it with complimentary roadside assistance which is easily worth $90 or more over a CAA membership.

Scotiabank Passport Visa Infinite

For something a little different, consider the .

You’ll earn 2 Scotia Rewards points per $1 on gas, dining, entertainment, and transit purchases.

And while your total rewards are a step-down, it comes with some phenomenal travel insurance, Priority Pass membership, and 6 free passes.

To top it off, it also comes with no foreign exchange fees to boot.

What are your thoughts?

What are your thoughts on these changes?

If you have the card, do you like what you see, or are you thinking of switching to something else?

If you don’t have it, is this card more appealing to you now?

Let us know in the comments below.