What’s interesting is that this card still has an incredible earning rate, and some of the best travel and purchase insurance available, so it’s still a potential keeper. Read my Scotia Momentum Visa Infinite review now to find out why it’s one of the best Scotiabank credit cards in Canada.

Scotia Momentum Visa Infinite Card

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• $120 annual fee – first year free
• Earn 15% cash back on all purchases for the first 3 months (up to $2,000 in purchases)
• Earn 4% cash back on groceries, recurring bills and subscription purchases
• Earn 2% cash back on gas, daily transit and food delivery purchases
• Earn 1% cash back on all other purchases with no cash back limit
• Travel and mobile device insurance included

Welcome bonus and earn rate

The Scotia Momentum Visa Infinite Card typically offers 10% cash back on all purchases for the first three months (up to $2,000 in spending), but it has been as high as 15% back. In addition, the annual fee of $120 is usually waived for the first year as part of the welcome bonus.

As for the earning rate, you’ll get 4% cash back on groceries, recurring bills, and subscription purchases, 2% on gas, transit and food delivery purchases, and 1% on all other purchases. Even though you get a high earn rate for multiple categories, there is an annual spending cap of. $25,000 Once you reach that amount, your earning rate drops to 1%. 

Benefits and perks

Like many cash back credit cards, the Scotia Momentum Visa Infinite doesn’t give you a ton of perks. That said, you do get some great insurance and Visa Infinite benefits.

Mobile device insurance

When you charge the full price of a mobile device (cellphone or tablet) to your Scotia Momentum Visa Infinite Card, you’re covered for up to $1,000 from loss, theft, or damage. Note that if you ever need to make a claim, depreciation applies.

Travel insurance

• Travel medical – $1,000,000 coverage up to 15 days
• Trip interruption – $2,000 per insured person (max $10,000 per trip)
• Trip cancellation – $1,500 per insured person (max $10,000 per trip)
• Flight delay – $500 per trip for eligible expenses for all insured travellers after a delay of 4 hours
• Delayed and lost baggage – $500 per trip for eligible expenses for all insured travellers after a delay of 4 hours
• Travel accident – $500,000 covering common carriers including airplanes, cruise ships, trains or buses
• Rental car collision / loss damage insurance – $65,000/48 days

For a cash back card, the included travel insurance is quite impressive. You only need to charge 75% of your trip costs to your card for the trip cancellation and trip interruption insurance to apply. However, for rental cars, you need to charge the full amount. There is no hotel/motel burglary insurance included.

Purchase insurance

• Purchase security – 90 days
• Extended warranty – Up to one additional year

When charging your purchases to your Scotia Momentum Visa Infinite Card, you’re covered for 90 days from loss, theft, and damage, thanks to the included purchase security. In addition, you get an extended warranty on purchases for up to one additional year.

Concierge service

As a Visa Infinite cardholder, you get access to a personal concierge. Available 24/7, these concierges are able to help you with dinner reservations, shopping, and more. Note that concierge can’t make miracles happen, so be realistic about your requests.

Save on car rentals

When renting a car at participating AVIS and Budget locations in Canada and the U.S., you’ll get up to 25% off the base rate when paying with your Scotia Momentum Visa Infinite Card.

Visa Infinite Hotel Collection

Visa has exclusive deals with hundreds of hotels where you can get a free room upgrade and Wi-Fi when you book directly with them.

Visa Infinite Dining and Wine Country program

Throughout the year, Scotiabank offers cardholders tickets to exclusive dining events where you can meet celebrity chefs and more.

When your Scotiabank cash back is paid out

Scotiabank now pays out the cash back anytime as long as you’ve earned at least $25 in rewards. Previously, you had to wait until November to get your cash back so this change makes things much more flexible.

Scotia Momentum VISA Infinite eligibility

• You’re a Canadian citizen or permanent resident
• You’re at least the age of majority in your province or territory
• You have a minimum annual personal gross income of $60,000
• You haven’t declared bankruptcy in the past 7 years
• Your home address matches your credit report home address

Although the Scotia Momentum VISA Infinite Card doesn’t have a formal minimum credit score requirement, a score of at least 700 is recommended.

How the Scotia Momentum Visa Infinite Card compares

Scotia Momentum Visa Infinite Card vs. American Express Cobalt Card

A natural comparison is the American Express Cobalt Card since it has a similar earning rate. The Cobalt Card gives you 5 American Express Membership Rewards points per $1 spent on eats and drinks (including grocery stores), 3 points on popular streaming services, 2 points on travel and transit, and 1 point on all other purchases. Since you can redeem 1,000 points for a $10 statement credit, this is essentially a hybrid cash back/travel rewards card.

Admittedly, the Scotia Momentum Visa Infinite Card has better insurance, but American Express Membership Rewards is a better program than Scene+. That’s because you can transfer your Membership Rewards points to other loyalty programs such as Aeroplan and Marriott Bonvoy. Depending on the redemption, you could get an increased value for your points.

Scotia Momentum Visa Infinite Card vs. BMO CashBack® World Elite®* Mastercard®*

The BMO CashBack® World Elite®* Mastercard®* also has an impressive earning rate of 5% cash back on groceries, 4% on transportation, 3% on gas and electric vehicle charging, 2% on recurring bills, and 1% on all other purchases. The catch is, there are monthly caps of $500 on groceries, $300 on transit, $300 on gas and electric vehicle charging, and $500 on recurring bills. If you typically spend more than that, then the Scotiabank is a better choice since it has a yearly cap, not a monthly one.

Scotia Momentum Visa Infinite Card vs. Tangerine World Mastercard

Of the best cash back credit cards in Canada, one other card worth comparing is the Tangerine World Mastercard. With the Tangerine card, you can choose up to three categories that will earn you 2% cash back, while all other purchases earn you 0.5% cash back. This is clearly lower than what the Scotia Momentum Visa Infinite Card offers, but it has no annual fee, which will appeal to many people. 

Final thoughts

It should be pretty obvious that my Scotia Momentum VISA Infinite review is positive. It’s one of the best no-fee cash back card available and I’d argue it’s an excellent choice as a “travel rewards” card. Although the cash back is easy to redeem, it’s only paid out once a year in November as a statement credit or deposited directly into your personal chequing or savings account if you bank with Scotia.