Annual Fee
Extra Card Fee
Cash Advance
Balance Transfer
Promo Transfer
Promo Term
6 months
Personal Income
Household Income
Canadian resident who has reached the provincial age of majority.
  • Earn 1 AIR MILE for every $10 spent.
  • Earn 1.25 AIR MILES for every $10 spent at participating Shell Locations.
  • Receive a welcome bonus of 3,000 AIR MILES after your first purchase – enough for 2 short haul flights.
  • As part of your sign-up bonus, receive a companion flight rebate. Simply redeem your AIR MILES for two flights, and get a rebate on the miles used for one of the tickets.
  • Allows cardholders to pool earned miles with personal AIR MILES earned.
  • The ability to add optional employee cards and have those cards protected against employee card abuse.
  • Includes 12 different types of travel and purchase insurance, including the very rare “personal effects” insurance.
  • Extended grace period of 25 days.
  • Pay no annual fee for the first year.
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Our Review

The Scotiabank Momentum Mastercard is a pretty standard no fee card.

However, this card comes with a cool balance transfer promo twist – great for anyone looking to transfer an existing credit card balance to another card with lower interest rates.

Cash back rewards

This card gives cardholders some pretty decent cash back for a no fee card:

  • 1% cash back on gas, groceries, drugstores and recurring bill payments, and
  • 0.5% on everything else.

Not many no-fee cards will give you increased rewards on 4 different spending categories without frustrating caps or limits.

Balance transfer promo

For a limited time, until October 31st, 2018, new cardholders can get a low 7.99% balance transfer promo rate for 6 months.

Although there is a 3.0% promo free, this is a great opportunity to get a handle on any pre-existing credit card debt that might be weighing heavily on you.


If you already have a Visa or Amex card, with all the bells and whistles, in your wallet, this is a good no-fee option with higher acceptance.

If you do a lot of shopping at Costco, for instance, this card could be a good addition to your wallet, since Costco only accepts Mastercard credit cards.

The downside

There is a clear downside to this card, however – it's complete lack of insurance.

Not many no fee cards come with travel insurance, but purchase insurance is usually pretty standard, so it is unfortunate that this card doesn't even protect your purchases.

A possible alternative

If the Scotiabank Momentum Mastercard isn't quite the card you're looking for, you should consider the .

Not only does this card give you 4% cash back for your first 4 months (up to 125$), but you also get 1% cashback on everything rather than just 4 different categories.

The BMO card even has some basic insurance coverage, such as the Extended Warranty and Purchase Protection insurance.

What are your thoughts?

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