The Scotia Momentum Visa Infinite Card isn’t just another credit card; it’s your passport to seamless cashback on everyday purchases and built-in insurance perks that add convenience to your life. If you’re looking for a card that rewards you generously for what you already spend on – groceries, subscriptions, gas, and more – this card could be a game-changer in your wallet. 

Whether you’re streamlining bill payments or simply maximizing grocery purchases, this card offers tailored advantages that go beyond the average credit card. From extended insurance on mobile devices to comprehensive travel protection, Scotia Momentum is built for the savvy spender who values both protection and cashback. Let’s explore what makes this card an outstanding choice for cashback enthusiasts and frequent shoppers alike.

Main features of the Scotia Momentum Visa Infinite Card 

Issued by Scotiabank, one of Canada’s leading banks, the Scotia Momentum Visa Infinite Card targets a clientele that values rewards, security, and flexible spending options. This card is crafted for users who seek not only cashback benefits but also additional value in insurance and lifestyle perks. 

While it’s particularly ideal for individuals with stable financial profiles – those with higher annual incomes or significant assets – it’s also an option for anyone wanting to elevate their credit-building journey. The Scotia Momentum Visa Infinite goes beyond basic cashback by rewarding routine expenditures and incentivizing financial responsibility.

Understanding the annual fee 

The Scotia Momentum Visa Infinite Card comes with an annual fee of $120, which applies after the first year. New cardholders benefit from a first-year fee waiver, allowing them to explore the card’s features without any initial cost. This waiver extends to supplementary cards, encouraging users to share benefits with family members. 

After the promotional period, the annual fee becomes part of the cost of enjoying consistent rewards and added insurance protections. The fee structure reflects the premium features and advantages embedded in this cashback card, offering value for its price by combining perks like travel and mobile device insurance.

Deciphering credit limits

Scotiabank determines the credit limit for the Scotia Momentum Visa Infinite Card based on the applicant’s financial profile. Factors like annual income, credit history, and current debt obligations influence the approved limit, with the minimum threshold set at $5,000. 

This approach ensures the cardholder has a manageable spending limit that aligns with their financial capacity. Additionally, Scotiabank reviews each application carefully to confirm the individual can handle the credit responsibly, reinforcing the bank’s commitment to supporting smart financial habits.

Advantages of the Scotia Momentum Visa Infinite Card

• 4% Cashback on Groceries and Recurring Payments: Earn 4% for every dollar spent on grocery and bill payments, including popular subscription services.
• 2% Cashback on Gas and Transit: Benefit from 2% cashback on fuel and public transit purchases, helping you save on daily commutes.
• 1% Cashback on All Other Purchases: For all other expenses, enjoy 1% cashback with no limits, allowing you to accumulate rewards on diverse spending.
• Travel Insurance: Includes comprehensive coverage for travel, protecting you in cases of trip interruption, lost baggage, or medical emergencies while abroad.
• Mobile Device Insurance: Covering damages and theft for new mobile devices, this insurance is ideal for tech-savvy users wanting to protect their investments.
• Scotia SelectPayTM: Flexibly pay off eligible large purchases in installments with reduced interest, offering financial ease for major expenditures.

Standout advantage

The standout feature of the Scotia Momentum Visa Infinite Card is its exceptional cashback rate on groceries and recurring bill payments. This 4% cashback rate can be especially beneficial for families and individuals who allocate a significant portion of their budget to these categories.

Addressing potential drawbacks

• Annual Fee After First Year: While the first year has no annual fee, the cost begins in the second year, which may not appeal to everyone.
• Minimum Income Requirement: With an income requirement of $60,000 or a household income of $100,000, not everyone will qualify for this card.
• Foreign Transaction Fees: Purchases made outside Canada incur additional fees, which can impact the overall savings for international travelers.

Standout disadvantage

The Scotia Momentum Visa Infinite Card’s standout drawback is its minimum income requirement. Potential applicants must have a personal income of at least $60,000 or a household income of $100,000, which could limit access for individuals or families with lower annual earnings. 

Eligibility criteria 

To qualify for the Scotia Momentum Visa Infinite Card, applicants must meet one of the following requirements: a minimum personal income of $60,000, a household income of at least $100,000, or have assets under management totaling $250,000. These criteria are in place to ensure applicants can leverage the card’s cashback rewards effectively and responsibly. 

Additionally, applicants must demonstrate a sound credit history, as Scotiabank aims to match this premium card to individuals with established creditworthiness. By maintaining these requirements, Scotiabank ensures that cardholders can comfortably manage the card’s rewards and fees.

How to apply for the Scotia Momentum Visa Infinite Card

Interested in the Scotia Momentum Visa Infinite Card? You’re on the right path! This card offers a suite of rewards and insurance benefits that make it a worthwhile addition to any wallet. Applying is straightforward, with multiple methods available to suit your convenience. 

Via website

The Scotiabank website is one of the fastest ways to apply for the Scotia Momentum Visa Infinite Card. Simply navigate to the credit card section, select the Scotia Momentum Visa Infinite, and follow the step-by-step prompts. 

The online application form is designed for convenience, allowing you to upload necessary documentation and complete your application at any time. Once submitted, you’ll receive a confirmation email with further instructions on tracking your application’s status.

Through the mobile application

Applying through the Scotiabank app provides added mobility, letting you complete the process from anywhere. After logging into your account, navigate to the credit card section and choose the Scotia Momentum Visa Infinite Card. 

The app’s guided steps ensure you understand each requirement, making it a user-friendly choice for on-the-go applicants. With secure access to your account, you can seamlessly complete the application without needing a computer.

Through the store/branch

If you prefer a face-to-face application experience, visit your nearest Scotiabank branch. Staff are available to walk you through each stage of the application, answer questions, and help gather the necessary documents. This personalized option allows for a clear understanding of the card’s features and eligibility criteria, making it ideal for those who want a more interactive approach to the application process.