Pros & cons
Pros
- Up to 3% cash back on purchases.
- Low intro rate of 2.99% for 6 months on balance transfers.
Cons
- Relatively high annual fee of $79.
- Only includes 4 types of insurance.
Your rewards
How you earn rewards
Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With Scotia Momentum for Business VISA card, here's how you earn rewards:
- 3% cash back on gas , restaurants , office supplies, and recurring bills
- 1% cash back on all purchases
For all reward details click here.
How much your rewards are worth
The dollar value of your rewards depends on the specific rewards program ‒ and what you choose to redeem your points for. For Scotia Momentum for Business VISA card in particular, if you spend $2,000 per month, here's our estimated annual rewards earned depending on which reward you choose:
| Statement credits | $396 |
Calculating your annual rewards
$24,000 annual spending x 1.65% return on spending = $396 annual rewards
$396 annual rewards − $79.00 annual fee = $317 net annual rewards
Details and eligibility
- Estimated Credit Score
- 660 - 724
- Personal Income
- N/A
- Household Income
- N/A
- Annual Fee
- $79.00
- Extra Card Fee
- $29
- Card type
- Credit
- Purchase
- 19.99%
- Cash Advance
- 22.99%
- Balance Transfer
- 22.99%
- Balance Transfer
- 2.99%
- Transfer Term
- 6 months
Insurance coverage
- Extended Warranty
- 1 year
- Purchase Protection
- 90 days
- Emergency Medical Term
- 8 days
- Emergency Medical over 65
- 3 days
- Rental Car Theft & Damage
- Yes
Please review your insurance certificate for details, exclusions and limitations of your coverage, terms and conditions apply.
Learn more about the value of credit card insurance coverage.
Genius Rating
Scotia Momentum for Business VISA card's 3.0 Genius Rating is based on the weighted average of the following scores:
Methodology
All scores are produced by our math-based rating algorithm that takes into account over 126 credit card features.
Top card from Scotiabank
GC: $125
Scotia Momentum for business Visa review
The Scotia Momentum for Business VISA card is a cash back card designed for small businesses. You'll earn easy-to-use rewards on your business basics like bills, office supplies, and gas stations for a low annual fee of $79.
Getting cash back with the Scotia Momentum for Business VISA card
As a cash back card, every dollar you spend earns you a percentage back in cash. This credit card provides bonus earn rates on many basic business purchases:
- 3% cash back on gas, restaurants, office supplies, and recurring bills
- 1% cash back on all purchases
Your cash back rewards are automatically applied each November as a statement credit. Alternatively, if you have a Scotiabank chequing account, you can have your rewards deposited there.
Pros of the Scotia Momentum for Business VISA card
There's more to this card than just the rewards. Here are a few more things going for it.
1. Visa SavingsEdge
With Visa SavingsEdge, you can enjoy discounts thanks to your Scotia Momentum for Business VISA card. Simply enroll your card, use your Visa at participating retailers, and you'll enjoy instant savings.
2. Low annual fee
For what's included, the Scotia Momentum for Business VISA card has a low annual fee of just $79.
3. Balance transfer offer
If you have any existing credit card debt, the Scotia Momentum for Business VISA card comes with a balance transfer offer of 2.99% for the first 6 months.
Cons of the Scotia Momentum for Business VISA card
Here are 2 things to keep in mind with the Scotia Momentum for Business VISA card.
1. Rewards only paid out once per year
Many cash back cards allow you to cash out your rewards whenever you want, but this card limits you to a statement credit once per year in November.
2. High standard interest rates
The balance transfer offer is nice, but don't carry a balance on this card. The standard interest rate on purchases is 19.99%.
Comparison to the Scotiabank Passport Visa Infinite Business Card
Looking for a rewards credit card instead for business purchases? Scotiabank offers the Scotiabank Passport Visa Infinite Business Card, which earns Scene+ points on purchases. Here's how they compare.
| Scotia Momentum for Business VISA card | Scotiabank Passport Visa Infinite Business Card | |
|---|---|---|
| Welcome bonus | None |  $125 GeniusCash + Up to 40,000 bonus points (terms) |
| Earn rates | * 3% cash back on gas, restaurants, office supplies, and recurring bills * 1% cash back on all purchases | * 1.5 points per $1 spent |
| Average earn rate | 1.65% | 1.5% |
| Special features | * Visa SavingsEdge | * Visa SavingsEdge * No foreign exchange fees * 6 airport lounge passes |
| Annual fee | $79 | $199 |
| Income requirements | None | None |
It comes down to what you want in a card: something basic or one that includes all the bells and whistles.
While the overall rewards are somewhat similar, the annual fees are quite different. The key difference lies in the extra perks the Scotiabank Passport Visa Infinite Business Card offers, like no foreign exchange fee and airport lounge access.
Leave a review
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FAQ
What is the Scotia Momentum for Business VISA card?
The Scotia Momentum for Business VISA card is a small business credit card. It offers up to 3% cash back on purchases for an annual fee of $79.
What rewards does the Scotia Momentum for Business VISA card offer?
The Scotia Momentum for Business VISA card is a cash back credit card and offers the following interest rates:
- 3% cash back on gas, restaurants, office supplies, and recurring bills
- 1% cash back on all purchases
What special features does the Scotia Momentum for Business VISA card include?
The Scotia Momentum for Business VISA card offers access to the Visa SavingsEdge and comes with an introductory balance transfer offer.
Key benefits
User review
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This would be a Secondary option since the offer is not close to what would be expected.
