Our Verdict
The Scotia Momentum Visa Infinite Card earns high marks as one of Canada's premier cash back credit cards, particularly excelling in its generous 4% return on groceries and recurring bills—categories where most households have their highest monthly spending. The combination of market-leading cash back rates, substantial welcome bonus, and comprehensive insurance coverage creates exceptional value for qualified cardholders who can easily earn enough to offset the annual fee several times over. Where the card loses points is accessibility. The $60,000 personal income requirement excludes many Canadians who could benefit from its rewards structure, and the $120 annual fee (after year one) requires careful consideration of your spending habits to ensure positive value. Additionally, while the cash back rates on core categories are excellent, the 1% rate on general purchases falls behind some competing cards that offer 1.5% or 2% on all spending. Despite these limitations, for those who qualify and align their spending with the bonus categories, the Scotia Momentum Visa Infinite Card delivers outstanding returns on everyday expenses while providing premium benefits that justify its place among Canada's top-tier credit cards.
8.7
- Earn a 10% cash back welcome bonus
- Earn up to 4% cashback on every $1 spent
- Travel insurance coverage
- You’ll need to earn $60,000 a year to be eligible for the card
- This card comes with an annual fee of $120
Scotia Momentum Visa Infinite Card: Premium Cash Back for Everyday Spending
When it comes to maximizing cash back on routine purchases, the Scotia Momentum Visa Infinite Card has earned its reputation as one of Canada's leading rewards credit cards. Having won the MoneySense Award for best cashback card in 2019, this premium offering from Scotiabank delivers substantial returns on the spending categories that matter most to Canadian households.
Understanding the Cash Back Structure
The Scotia Momentum Visa Infinite Card's appeal lies in its straightforward yet generous rewards program. Cardholders earn an impressive 4% cash back on eligible grocery purchases and recurring bill payments—two categories that typically comprise a significant portion of monthly household budgets. Whether you're stocking up at your local supermarket or paying your monthly utilities, phone bills, or streaming subscriptions, you're earning at the highest tier. For transportation expenses, the card offers 2% cash back on eligible gas purchases and public transit fares. This middle tier recognizes that commuting and travel costs represent another substantial expense category for most Canadians. All other eligible purchases earn 1% cash back, ensuring you're always earning rewards regardless of where you shop. What sets this structure apart is its focus on non-negotiable expenses. Unlike cards that reward discretionary spending on travel or dining, the Scotia Momentum targets the purchases you're making anyway, transforming routine spending into meaningful returns.
Welcome Bonus and First-Year Value
New cardholders can capitalize on an exceptional welcome offer that significantly enhances the card's first-year value proposition. For the first three months, you'll earn 10% cash back on all purchases, up to $2,000 in spending. This translates to a potential $200 bonus simply for using the card for your regular purchases during the introductory period. Additionally, Scotiabank waives the $120 annual fee for the first year, effectively giving new cardholders a chance to experience the premium benefits without the upfront cost. This combination of bonus cash back and fee waiver can deliver over $300 in value during your first year, making it an attractive proposition for those who meet the eligibility requirements.
Comprehensive Insurance Coverage
Beyond cash back rewards, the Scotia Momentum Visa Infinite Card includes an extensive insurance package that adds considerable value for active travelers and conscientious shoppers. The travel insurance suite includes up to $1 million in travel emergency medical coverage for trips up to 25 days, plus an additional $1 million in travel accident insurance. The card also addresses common travel frustrations with coverage for flight delays, baggage delays, lost or stolen luggage, and car rental collision damage. For purchases, you're protected with 90-day purchase security against theft, loss, or damage, plus extended warranty coverage that doubles manufacturer warranties up to one additional year. A notable modern addition is mobile device insurance, providing up to $1,000 in coverage if your phone is lost, stolen, or accidentally damaged a valuable benefit considering the cost of today's smartphones.
Eligibility Requirements and Considerations
The Scotia Momentum Visa Infinite Card is positioned as a premium product, and its eligibility requirements reflect this status. Applicants need either a personal annual income of at least $60,000 or a household income of $100,000 to qualify. The minimum credit limit starts at $5,000, indicating this card is designed for those with established credit histories and substantial spending power. These requirements shouldn't be viewed as arbitrary barriers but rather as indicators of the card's target market: professionals and families with significant monthly expenses who can maximize the generous cash back rates. If you're regularly spending $2,000 or more monthly on groceries, bills, and gas, the 4% and 2% cash back rates can easily offset the $120 annual fee that applies from the second year onward.
Practical Payment Features
The card incorporates modern payment conveniences including Visa payWave for contactless tap payments and compatibility with Apple Pay for smartphone transactions. These features have become increasingly important as contactless payments have become the preferred method for many consumers, offering both convenience and enhanced security. Cardholders also benefit from 24/7 customer service access, ensuring support is available whenever issues arise. Additional perks include savings of up to 25% on AVIS and Budget car rentals in Canada and the United States, plus access to Visa Infinite dining and entertainment exclusives.
Making the Numbers Work
To determine if the Scotia Momentum Visa Infinite Card makes financial sense, consider your spending patterns. A household spending $500 monthly on groceries and $200 on recurring bills would earn $336 annually from these categories alone at the 4% rate. Add typical gas expenses and other purchases, and many cardholders can earn $400-600 or more in annual cash back, far exceeding the $120 annual fee. The cash back is automatically credited to your account each November, providing a welcome boost during the expensive holiday season. This annual payout structure keeps things simple while ensuring you receive your full rewards without having to manage redemptions or point transfers.
The Bottom Line
The Scotia Momentum Visa Infinite Card stands out in Canada's competitive credit card market by focusing on maximizing returns from essential spending categories. While the income requirements and annual fee may limit its accessibility, those who qualify will find a card that delivers substantial value through its combination of market-leading cash back rates, comprehensive insurance coverage, and premium perks. For Canadians who meet the eligibility criteria and maintain significant monthly spending on groceries, bills, and transportation, this card represents one of the most rewarding options available. The straightforward cash back structure, generous welcome offer, and extensive benefits package make it a compelling choice for optimizing your everyday spending power.
