Pros & Cons
Pros
- +No annual fee
Cons
- –Foreign Transaction Fee (2.5%)
- –No purchase protection
Our Review
The Scotia Momentum® Mastercard®* Credit Card is a no-annual-fee cash back card, built to reward your everyday spending without any complexity.
7.99% introductory interest rate on purchases for the first six months, for accounts opened by October 31, 2026. The rate then returns to 20.99%.
What the card gives you:
- 1% cash back on eligible gas station, grocery store and drug store purchases, as well as recurring bill payments
- 0.5% cash back on all other eligible everyday purchases
- No annual fee
- Cash back credited automatically, with no redemption threshold to keep track of
It makes a solid first cash back card, or a companion card to keep for everyday categories. A 2.5% conversion fee applies to foreign currency transactions.
Rewards
All Spending
0.5x
Cash Back pts per dollar
Groceries
1x
Gas
1x
Pharmacy
1x
Recurring
1x
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Cashback earned
$222
$/yr
Estimated Value
$222
After Fees
+$222
1st Year Value
$222
incl. welcome bonus
Annual rewards breakdown
Fees and interest rates
- Annual Fee$0
- Additional card fee$50
- Foreign currency conversion fee2.5%
- Purchase Rate20.99%
- Cash advance rate22.99%
Eligibility
Personal Income
$12,000
Household Income
$12,000
Terms & Conditions
Card Features
- 7.99% introductory interest rate on purchases for the first 6 months (20.99% after that)◊
- Cash back on everyday spending with no annual fee.
- 1% cash back on eligible gas station, grocery store and drug store purchases and recurring bill payments.
- 0.5% cash back on all other eligible everyday purchases.
Legal
*Conditions apply. Rates, fees and other information are effective as of Oct 31, 2025. Subject to change.
Related Cards
Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. Retraite101 may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 Scotiabank. All trademarks are property of their respective owners.