Pros & cons
Pros
- Up to 1% cash back on purchases.
- No annual fee.
Cons
- Poor base earn rate of 0.5% back on purchases.
- No insurance included.
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 Scotiabank Momentum Mastercard Credit Card, here's how you earn rewards:
- 1% cash back on gas , groceries , drugstores , and recurring payments
- 0.5% cash back on all other 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 Scotiabank Momentum Mastercard Credit 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 | $177 |
Calculating your annual rewards
$24,000 annual spending x 0.74% return on spending = $177 annual rewards
$177 annual rewards − $0.00 annual fee = $177 net annual rewards
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2x Award WinnerDetails and eligibility
- Estimated Credit Score
- 760 - 900
- Personal Income
- $12,000
- Household Income
- N/A
- Annual Fee
- $0.00
- Extra Card Fee
- $0
- Card type
- Credit
- Purchase
- 20.99%
- Cash Advance
- 22.99%
- Balance Transfer
- 22.99%
Genius Rating
Scotiabank Momentum Mastercard Credit Card's 3.2 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.
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Our review
The Scotiabank Momentum Mastercard is a pretty standard no fee card.
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.
Acceptance
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 – its 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 a valuable welcome bonus (5% cash back for the first 3 months, up to $2,500 in spend), but you also get up to 3% cash back on everyday purchases.
The BMO card even has some basic insurance coverage, such as the Extended Warranty and Purchase Protection insurance.
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Key benefits
User reviews
Reviewed by 5 Canadians
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ScotiaBank Momentum Mastercard is the worst ever Credit Card. The ScotiaBank automated phone system is ridiculously slow and unnecessarily convoluted. You CANNOT pay your balance using another Credit Card. Trying to pay your ScotiaBank Momentum MC online is impossible unless you have a bank account with ScotiaBank and the Momentum MasterCard interest rates are higher than most. So, what's the point! I'm getting rid of it ASAP! Enough is enough. I'm done with this nonsense.
Worse customer service ever! Tried to call their customer service for help. Always put on hold because representatives are assisting other callers. Waited for an hour still kept on hold. Hire more staff!
1-It’s the worst customer services ever no care for customer
2-They don’t worry about your payment or anything from the Authenticator users to any other items
3-If you are scoita customer they wouldn’t care to pay online ans you have to pay external vendor
It used to be a great card. We used it primarily because it did not have a foreign transaction fee. They have now introduced a foreign transaction fee and I was told quite rudely after holding for 50 minutes to speak with a customer representative that this is here to stay. I am done with the card.
Went from a Sears card, that was discontinued. Was then switched over to a Sears Mastercard. That was then bought out by Scotiabank and switched over to this card. I would like to note that this is not an Air Miles card like stated above. You only earn 1% cash back on everything. There is no Air Miles sign up bonus or companion bonus. Strictly a cash back card with no annual fee.
http://www.scotiabank.com/ca/en/personal/credit-cards/mastercard/momentum-card.html
$100 GeniusCash + Earn up to 15,000 Welcome Bonus Membership Rewards® Points.*