Pros & cons
Pros
- 5% cash back for the first 3 months, up to $2,000 in spend.
- Up to 1% cash back on purchases.
- 0.99% on balance transfers for 9 months.
- Save 3 cents per litre on fuel at Shell.
- No annual fee.
Cons
- Only earns 0.5% cash back on non-category purchases.
- Limited insurance included.
Your rewards
Getting your welcome bonus
Based on $3,000 in monthly spending, you can get up to 5% in your first 3 months on up to $2,000 in spending which translates to an estimated $85.◊
For all welcome bonus details click here.
Welcome bonus offer ends Nov 1, 2026.
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 No-Fee Visa Card (for students), here's how you earn rewards:
- 1% cash back on gas , groceries , drugstores , transit , food delivery, 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 Scotia Momentum No-Fee Visa Card (for students) in particular, if you spend $3,000 per month, here's our estimated annual rewards earned depending on which reward you choose:
| Statement credits | $266 |
Calculating your annual rewards
$36,000 annual spending x 0.74% return on spending = $266 annual rewards
$266 annual rewards − $0.00 annual fee = $266 net annual rewards
Details and eligibility
- Estimated Credit Score
- 300 - 559
- Personal Income
- N/A
- 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%
- Balance Transfer
- 0.99%
- Transfer Term
- 9 months
Genius Rating
Scotia Momentum No-Fee Visa Card (for students)'s 3.8 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.
Key benefits
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