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We detailed some changes coming to the
But it wasn’t the only Scotiabank credit card destined to see some changes on August 1, 2019.
The
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Scotiabank Momentum Visa Infinite to come with mobile device insurance
The biggest change to the card is it’ll now come with mobile device insurance.
Mobile device insurance covers you for up to a set amount if your phone is lost, stolen, or damaged. This amount usually depreciates over time as your phone gets older.
All you have to do is either charge the full cost of the device to the credit card, or pay the monthly plan with your credit card if your phone was included as part of the plan.
Not many Canadian credit cards offer this type of insurance, making it a rare cherry on top of an already delicious card.
Related: Best Travel Insurance Credit Cards In Canada For 2019
Details of the other changes coming
Of course, it’s not the only change coming…
The other big change is the earn rates. Starting August 1, 2019, the new earn rates for cash back are:
| Old earn rate | New earn rate as of 08/01/19 |
|---|---|
| * 4% on gas and grocery * 2% on drugstore and recurring bills * 1% on all other purchases |
* 4% on groceries and recurring bills * 2% on gas and transit * 1% on all other purchases |
There are still 2 categories earning 4% and 2 categories earning 2% ‒ they’ve just been shuffled a bit.
The travel insurance is also getting a slight change with the addition of trip cancellation insurance for $1,500. Aside from that, there’ll be no other changes to the insurance package.
The last change is to the annual fee. It will be increasing from $99 to $120.
Is Scotia Momentum Visa still a top cash back?
With all that in mind, we have to ask ourselves…Is the card worth it?
For most people, the answer is yes. Unless you’re a big gas or drugstore spender, you probably won’t see much change in your rewards.
And, the mobile device insurance makes up for the increased annual fee of $120.
GC: $20
$20 GeniusCash + 10% cash back on purchases for 3 months + 4% cash back on groceries.*
If you want to try the card out, it currently has a first year free offer so you can see how it works for you.
However, if you don’t like the changes coming, our rate your wallet tool can help you find something more suitable for you.
Related: Scotiabank Gold Amex With No Foreign Exchange Fees Starting August 1, 2019
Alternative cards to consider
If you don’t like what’s coming, here are some alternate Scotiabank credit cards to consider in its place.
| Credit Card | Welcome Bonus | Earn Rate | Annual Fee | Apply Now |
|---|---|---|---|---|
| Scotiabank Gold American Express | 15,000 points (terms) | * 5 points per $1 on restaurants, groceries, and entertainment * 3 points per $1 on gas, transit, and select streaming services * 1 point per $1 on all other purchases |
$120 | Apply Now |
| Scotiabank Passport Visa Infinite | 25,000 points (terms) | * 2 points per $1 spent on dining, gas, transit, and entertainment * 1 point per $1 everything else |
$139 | Apply Now |
Scotiabank Gold American Express
The other Scotiabank card seeing changes soon, the
When redeemed for travel through Scotia Rewards, that up to a 5% return on your spending.
To top it off, it’s also getting no foreign transaction fees as well.
×1 Award winner GC: $60
1x Award winner
Scotiabank Passport Visa Infinite
For something a little different, consider the
You’ll earn 2 Scotia Rewards points per $1 on gas, dining, entertainment, and transit purchases.
And while your total rewards are a step-down, it comes with some phenomenal travel insurance, Priority Pass membership, and 6 free passes.
To top it off, it also comes with no foreign exchange fees to boot.
GC: $30
What are your thoughts?
What are your thoughts on these changes?
If you have the card, do you like what you see, or are you thinking of switching to something else?
If you don’t have it, is this card more appealing to you now?
Let us know in the comments below.
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GC: 
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