Scotiabank Momentum Mastercard Credit Card
Even without having to pay an annual fee, you can earn 1% cash back on everyday purchases.
- Annual Fee
- Extra Card Fee
- Card Type
- Cash Advance
- Balance Transfer
- Balance Transfer
- Transfer Term
- 6 months
- Personal Income
- Household Income
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.
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.