The Scotiabank Momentum No-Fee Visa is the entry-level card in Scotiabank’s Momentum cash back lineup, positioned below the premium Momentum Visa Infinite. It earns cash back on everyday purchases at no annual fee — making it accessible to Canadians who want to enter the Scotiabank cash back ecosystem without a fee commitment or income requirement. For light spenders or those building toward the Momentum Visa Infinite, it is a reasonable starting point, though the earn rates are modest compared to the premium tier.
Quick Verdict
Best for: Canadians who want a no-annual-fee Scotiabank Visa cash back card, particularly those below the $60,000 income requirement for the Momentum Visa Infinite, or those with low monthly spending who cannot justify a $120 fee.
Not ideal for: Cardholders who can qualify for the Scotiabank Momentum Visa Infinite — the 4% earn rate on groceries, gas, bills, and transit at $120/year delivers far more cash back for most households.
Key Card Details
| Feature | Detail |
|---|---|
| Annual fee | $0 |
| Additional cardholder fee | $0 |
| Purchase interest rate | 19.99% |
| Cash advance rate | 22.99% |
| Foreign transaction fee | 2.5% |
| Income requirement | None |
| Network | Visa |
| Welcome bonus | Verify current offer at scotiabank.com |
Earn rates, annual cash back payout timing, and welcome bonus are subject to change. Always verify current details at scotiabank.com before applying.
Welcome Bonus
Scotiabank periodically offers a welcome cash back bonus for new Momentum No-Fee Visa cardholders.
Always verify the current welcome bonus at scotiabank.com before applying.
Cash Back Earn Rates
The Scotiabank Momentum No-Fee Visa earns cash back on eligible purchases in the same categories as the Momentum Visa Infinite, but at lower rates.
| Category | Cash Back Rate |
|---|---|
| Eligible groceries | Verify at scotiabank.com |
| Eligible gas stations | Verify at scotiabank.com |
| Eligible recurring bills | Verify at scotiabank.com |
| All other eligible purchases | Verify at scotiabank.com |
Verify exact earn rates at scotiabank.com. Rates differ significantly from the Momentum Visa Infinite’s 4% on key categories.
Cash back is paid annually
Scotiabank Momentum cards accumulate cash back throughout the year and pay it out in a lump-sum statement credit, typically in November. Verify the current payout date and terms at scotiabank.com. If you cancel the card before the annual payout, verify whether you forfeit accrued cash back.
Who Should Get the Momentum No-Fee Visa vs. the Infinite?
| Factor | Choose No-Fee Visa | Choose Momentum Visa Infinite |
|---|---|---|
| Annual fee | Free | $120 |
| Monthly spend (total) | Under ~$800–1,000 | Over $1,000 |
| Income | Below $60,000 | $60,000+ |
| Earn on groceries/gas | Lower (verify) | 4% |
| Earn on recurring bills | Lower (verify) | 4% |
The upgrade math: At $1,500/month in Momentum categories (groceries, gas, bills, transit), the Momentum Visa Infinite earns 4% = $720/year. If the No-Fee earns, say, 1% on those categories = $180/year. The Infinite earns $540 more, more than justifying the $120 fee. The No-Fee only makes sense when spending is low or the income requirement cannot be met.
Card Benefits
As a no-fee entry-level card, the Scotiabank Momentum No-Fee Visa includes a minimal benefit set. Verify at scotiabank.com:
- Basic purchase protection may apply
- Travel insurance: unlikely at this tier — verify at scotiabank.com
Fees and Rates
| Fee | Amount |
|---|---|
| Annual fee | $0 |
| Purchase interest rate | 19.99% |
| Cash advance rate | 22.99% |
| Foreign transaction fee | 2.5% |
Who Is the Scotiabank Momentum No-Fee Visa Best For?
Ideal cardholders:
- Those below the $60,000 income requirement for the Scotiabank Momentum Visa Infinite
- Low-spend households where the Infinite’s earn rate doesn’t justify the $120 fee
- Scotiabank customers who want a Visa card with cash back in the Scotiabank ecosystem
- Cardholders building toward the Momentum Visa Infinite as income or spending grows
Less suitable if:
- You qualify for and can benefit from the Momentum Visa Infinite — it is almost always the better card for households spending $1,000+/month
- You want the best no-fee cash back rates (compare with Tangerine Money-Back at 2% on 3 categories, or Amex SimplyCash at 1.25% flat)
Alternatives to the Scotiabank Momentum No-Fee Visa
| Card | Annual Fee | Best Cash Back Rate | Notes |
|---|---|---|---|
| Scotiabank Momentum Visa Infinite | $120 | 4% (groceries, gas, bills, transit) | Upgrade when income qualifies |
| Tangerine Money-Back Credit Card | $0 | 2% on 2–3 chosen categories | Flexible category selection |
| Amex SimplyCash Card | $0 | 1.25% on everything | Flat rate, Amex network |
| BMO CashBack Mastercard | $0 | Verify at bmo.com | BMO ecosystem |
The Tangerine Money-Back Credit Card is a strong alternative: it offers 2% cash back on 2–3 categories you choose (groceries, gas, restaurants, etc.) with no annual fee and no income requirement — potentially higher earn on your top spending categories versus the Momentum No-Fee.
Bottom Line
The Scotiabank Momentum No-Fee Visa earns its place as an entry-level stepping stone: zero annual fee, cash back on purchases, and Scotiabank’s Visa network. But it is not the destination — it is the starting point.
Most Canadians who can qualify for the Scotiabank Momentum Visa Infinite should make the switch: the 4% earn on groceries, gas, recurring bills, and transit at $120/year is one of the strongest cash back propositions in the Canadian market. The No-Fee card exists for those who cannot yet meet that standard.
Card terms, earn rates, annual cash back payout, and welcome bonus are subject to change. Always verify current details at scotiabank.com before applying.