If you’re looking for a credit card that offers higher earn rates for certain spending categories, take a look at the Scotia Momentum Visa Infinite Card. The card offers a boosted 4% earn rate for groceries and recurring bills, 2% back on gas and transit, and a decent 1% earn rate on all other purchases.
The Scotia Momentum card makes sense for cardholders who spend a lot in these categories – and the card comes with valuable perks that help offset the annual fee. Read on for our take on the ins and outs of the Scotia Momentum Visa Infinite Card and whether it might be a worthwhile option for you.
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At a glance
Scotia Momentum® Visa Infinite* Card
- 4% cash back on recurring bills and grocery purchases - the highest spending bonus of any cash back card.
- 2% cash back on gas and daily transit purchases.
- 1% cash back on all other purchases.
- 10% cash back on all purchases for the first 3 months, up to $2,000 in spend.
- High $25,000 annual spending caps on both the 4% and 2% bonus spending categories.
- Strong insurance coverage that includes 15 days of emergency medical and trip interruption.
- Annual fee is waived for the first year.
What does the Scotia Momentum Visa Infinite Card offer?
The
$20 GeniusCash + 10% cash back on purchases for 3 months + 4% cash back on groceries.*
GC: $20
This card will earn you cash back on all your spending:
- 4% cash back on groceries and recurring bills (up to $25,000 spent annually)
- 2% cash back on gas and transit purchases (up to $25,000 spent annually)
- 1% cash back on all other purchases
Then there's the welcome bonus. You'll earn 10% cash back for the first 3 months, up to $2,000 in spend. It's a quick and easy way to kick off your cash back earnings and more than covers the cost of the annual fee for this card.
On top of that, Scotiabank is currently waiving the first year annual fee for this card, letting you take it for a test drive before spending any of your hard-earned cash. If the card isn’t worthwhile for you, you’ll be able to cancel it before paying the annual fee for the second year. If you have the Scotiabank Ultimate Package, your annual fee will be waived each year.
Scotiabank Ultimate Package
Finally, the Scotia Momentum Visa Infinite Card includes a comprehensive insurance package with 11 types of travel insurance and purchase protection.
Scotia Momentum Visa Infinite Card rewards
To understand how well a credit card is going to work for you, it helps to figure out how much you spend on bills and groceries every year and how much you’d be willing to charge to your card. Be as honest as possible so you can accurately determine if the card offers you enough value.
Let’s say you spend $1,500 on bill payments and $9,000 on food (of which you charge a minimum of $6,000) per year. Monthly, that comes to a $125 + $500 = $625 total, which generates a 4% return of $25 cashback:
625 x .04 = $25
Let’s also assume that a total of $2,000 per month is charged to the card, which represents another $1,375 in spending beyond the bill payments and food. This adds another $13.75 cashback at the base 1% rate:
$1,375 x .01 = $13.75
Together that comes to $38.75 monthly, for a yearly total cash back of $465.
| Spend | Recurring bills | Food | Other | Total |
|---|---|---|---|---|
| Monthly | $125 | $500 | $1,375 | $2,000 |
| Yearly | $1,500 | $6,000 | $16,500 | $24,000 |
| Cash back % | 4% | 4% | 1% | x |
| Monthly return | $5 | $20 | $13.75 | $38.75 |
| Yearly return | $60 | $240 | $165 | $465 |
Alternatively, you could go with a premium card that offers a flat 2% on ALL spending, which makes it easier to figure your card’s value.
We did the math: the flat rate offer only beats the Scotia Momentum Visa Infinite Card’s earning potential if your food and recurring bill spending is less than 33% of your monthly total. Otherwise, the 4% boosted earn rate offers much better returns.
And, none of these numbers include the welcome bonus of 10% cash back for the first 3 months, up to $2,000 in spend.
Scotia Momentum Visa Infinite Card perks
On top of the cash back, this card also offers Visa Infinite benefits and a generous insurance package.
Visa Infinite benefits
As a Visa Infinite credit cardholder, you'll get the following added benefits with this Scotia Momentum card:
- Visa Infinite Concierge service
- Visa Infinite Luxury Hotel Collection
- Visa Infinite Dining and Wine Country program
- Visa Infinite Screening Series and Toronto Film Festival perks
- Golf perks with Troon Rewards
Insurance
The insurance perks are also a nice touch. They include these types of coverage:
Scotia Momentum® Visa Infinite* Card
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Mobile Device | $1,000 |
| Travel Accident | $500,000 |
| Emergency Medical Term | 15 days |
| Trip Cancellation | $1,500 |
| Trip Interruption | $2,000 |
| Flight Delay | $500 |
| Baggage Delay | $500 |
| Lost or Stolen Baggage | $500 |
| Rental Car Theft & Damage | Yes |
Please review your insurance certificate for details, exclusions and limitations of your coverage.
The insurance coverage is comprehensive and competitive with other premium cards available.
Is the Scotia Momentum Visa Infinite Card worth it?
Whether this card is worthwhile for you comes down to the numbers.
If your monthly spend on groceries and recurring bills is more than about $667 per month with an average $2,000 monthly spend, you’ll earn enough cash back to offset the annual fee.
If you typically spend less than $2,000 per month and don’t charge a good portion of your groceries and recurring bills to your credit card, you’ll probably be better off with a different card – perhaps one with a higher flat earn rate on all purchases.
FAQ
What are the benefits of the Scotia Momentum Visa Infinite Card?
This credit card comes with Visa Infinite benefits, a generous package of 11 types of travel insurance and purchase protection, a large welcome bonus, and an impressive earn rate.
Is Visa Infinite prestigious?
Visa Infinite is the middle tier within Visa’s credit card network – above Traditional cards but below Visa Infinite Privilege ones.
What is the maximum spend on the Scotia Momentum Visa Infinite Card?
You’ll earn 4% back on the first $25,000 spent on groceries and recurring bills. You’ll also get 2% back on the first $25,000 spent on gas and transit. After you’ve reached $25,000 in spending for each of those categories, you’ll earn 1% back on your remaining spending with no maximum.
Does the Scotiabank Visa have lounge access?
While the Scotia Momentum doesn’t come with lounge access, the Scotiabank Passport Visa Infinite Card does. You’ll get 6 complimentary lounge visits every year – with the option to share your passes with companions.
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