Scotia Momentum Visa Infinite Card Review
Disclosure: Information provided here may not be accurate and no longer valid. The mentioned card provider is not related to A Dawn Journal and neither monitor this site nor responsible for any inaccurate information. Contact the card company directly for accurate and updated information. A Dawn Journal or my YouTube Channel are not compensated by or affiliated with any credit card companies. All credit card articles are 100% unbiased and honest.
The Scotia Momentum Visa Infinite card is a cash back rewards credit card that lets you earn cash rewards for everyday purchases, which can be credited to your account balance at the end of each 12-month period once a year in November.
Annual Fee = $99. Additional cards = $30
Minimum annual income required = $60,000 (or household income = $100,000)
Rewards Points Snapshot
– Earn 4 percent at eligible gas stations and grocery stores Canada.
– Earn 2 percent on eligible drug store purchases and recurring bill payments.
– Earn 1 percent on everything else.
Author/Copyright: Ahmed Dawn www.adawnjournal.com
First Time Bonus
From time to time, Scotia runs a promotional $100 bonus. Also, the annual fee is waived for the first year.
Features & Benefits
– Visa Infinite benefits, including Concierge Services.
– Emergency Medical Insurance (15 days <65, none if 65 or older, Amount: $1 million).
– Travel Accident Insurance (Up to $500,000 CAD)
– Auto Rental Theft and Collision/Loss Damage Insurance.
– Trip Interruption Insurance ($2,000 each, maximum $10,000)
– Flight Delay Insurance (After 4 hrs, $500 per trip).
– Lost and Delayed Luggage ($500 maximum)
– Purchase Security (For 90 days, up to $60,000 lifetime)
– Extended Warranty Insurance (1 additional year)
Because this is not a travel rewards credit card, I can’t mention anything here like I do for a travel credit cards review.
It’s almost impossible to beat the high cash back return the Scotia Momentum Visa Infinite card provides. These days, investors are having a hard time generating 4 percent return from investments, so a credit card that provides 4 percent rewards on groceries is a big deal. However, if your grocery spending is not that high, but spending on another category (that provides 1 percent return) is high, this card won’t make sense and you should probably look for another card.
Although this is not a travel rewards credit card, it offers many travel insurances and provides the option to add Trip Cancellation Insurance, which is a good thing. But don’t forget that travel spending will attract a low 1 percent return.
The $99 annual fee is very reasonable, although Scotiabank could have charged a $120 annual fee – which is standard for Visa Infinite cards.
The only thing I can complain about is that the cash back rewards are awarded only once a year. I have seen other cash back cards that have done a better job at this. For example, some award cash back every month or when you reach a certain amount.