Some updates have come to the Scotiabank Momentum family. First, they have new card art, and we can (almost) say goodbye to the old Scotiabank logo. The only thing left bearing the old Scotia logo is the Scotiabank Momentum Mastercard Credit Card.
But, they've also added some new earn rates, and it's now much easier to get your cash back. You can redeem cash back on demand and earn more cash back on transit and food delivery.
But these changes do not apply to the Scotiabank Momentum Mastercard Credit Card – only Scotiabank's Momentum Visa cards.
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Easier to redeem cash back with Scotia Momentum cards
Previously, Scotia Momentum cards only dished out your cash back once per year, in November.
Not anymore. Now, you can redeem your cash back when you like, once you have accumulated $25. And you have a choice of either redeeming it as a statement credit or depositing it into a Scotia bank account.
And it's leading to an age where most cash back cards let you redeem on demand. The only major cash back family that still limits cash back payouts to once per year is the SimplyCash family from Amex.
Otherwise, with most cash back cards in Canada, you're allowed to redeem your cash back as soon as you have a set amount accumulated. For many, it's $25, but others start at just $1. We've come a long way from when most cash back cards were very inflexible in paying out your rewards.
New earn rates on Scotia Momentum cards
All the Scotiabank Momentum Visa cards have new earn rates on transit, rideshares, and food delivery. And these are in addition to the existing rates on these cards. The exception is the Scotia Momentum Visa Infinite Card, which only gets the food delivery earn rate as it already has a bonus rate for transit and rideshares.
For the Scotia Momentum Visa Infinite Card, this card will earn 2% cash back on food delivery.
With the Scotia Momentum Visa Card, you'll get 2% on transit, rideshares, and food delivery.
Finally, the Scotia Momentum No-Fee Visa Card earns members 1% on transit, rideshares, and food delivery.
So what constitutes food delivery? Scotiabank is a little vague. Here's the line from the terms and conditions.
Food Delivery category includes transactions made via eligible food delivery services selected by Scotiabank, which are subject to change.
Here are the full earn rates for all of these cards, along with their annual fees and income requirements.
| Scotia Momentum No-Fee Visa Card | Scotia Momentum Visa Card | Scotia Momentum Visa Infinite Card | |
|---|---|---|---|
| Welcome Bonus | 5% cash back for the first 3 months (terms) | None |  $20 GeniusCash + 10% cash back for the first 3 months, first year free (terms) |
| Earn Rates | * 1% cash back on gas, groceries, drugstores, transit, food delivery, and recurring payments * 0.5% cash back on all other purchases | * 2% cash back on gas, groceries, drugstores, transit, food delivery, and recurring payments * 1% cash back on all other purchases | * 4% cash back on groceries and recurring bill payments * 2% cash back on gas, transit, and food delivery * 1% cash back on all other purchases |
| Annual Fee | $0 | $49 | $120 |
| Income Requirements | None | None | $60,000 personal/$100,000 household |
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2x Award winner Scotia Momentum for Business VISA card changes
The Scotia Momentum for Business VISA card got some changes too. This card also allows for more flexible redemptions now.
It now has some new business-related bonus rates – earn 2% cash back 2 on shipping, accounting, and bookkeeping services.
The full earn rates now look like this:
- 3% cash back on gas, restaurants, office supplies, shipping, accounting, and recurring bills
- 1% cash back on all purchases
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FAQ
What has changed with Scotia Momentum Visa cards?
All Scotia Momentum Visa cards have increased earn rates, and your cash back can now be redeemed once you've accumulated at least $25. Plus, all the cards have new artwork. These changes apply to both personal and business Momentum Visa cards, but not the Mastercard.
What are the new categories that earn bonus cash back?
For personal versions, Scotia Momentum Visa cards now offer bonus rewards on food delivery, transit, and rideshares. The Scotia Momentum Visa Infinite Card has only been updated to include food delivery, as the other bonus categories were already included. The business version offers more cash back on shipping and accounting services.
Do these changes apply to the Scotiabank Momentum Mastercard Credit Card?
The Scotiabank Momentum Mastercard Credit Card has not seen any of these changes. The old art and earn rates are still in place with this version of the card.
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