Scotia Momentum Visa Infinite Review: Up to $300 Back
The Scotia Momentum® VISA Infinite* card is the best-selling cash back card in our network, and the recipe is stable: 4% back on groceries and recurring bill payments, an insurance package that embarrasses pricier cards, and a first-year fee waiver. The current offer adds up to $300 cash back until November 1, 2026.
Here is the complete picture, and where it sits in our best cash back credit cards ranking.
Welcome Offer: Up to $300 Cash Back
The offer is straightforward and runs until November 1, 2026:
- Up to $300 cash back: earned on your first $2,000 in everyday purchases within 3 months
- First year free: the $120 annual fee is waived, supplementary cards included
Earn Rates and Caps
The 4% categories cover the two lines nobody can avoid: food and bills, up to $25,000 of combined annual category spend, then 1% applies:
| Category | Cash back |
|---|---|
| Groceries | 4% |
| Recurring payments and subscriptions | 4% |
| Gas | 2% |
| Daily transit | 2% |
| Everything else | 1% |
Insurance: the Quiet Differentiator
- Travel coverage: emergency medical, trip cancellation and trip interruption, rare at a $120 fee
- Everyday coverage: rental car collision, mobile device insurance, purchase protection and extended warranty
- Cash back lands annually: every November, as a statement credit
Most cash back cards strip travel insurance out; the Momentum keeps a package usually reserved for travel cards, which makes it a credible only-card for people who take one or two trips a year.
Fees and Eligibility
| Item | Amount |
|---|---|
| Annual fee | $120 (waived year 1) |
| Additional card | $50 (waived year 1) |
| Purchase rate | 20.99% |
| Cash advance rate | 22.99% |
| Foreign currency conversion | 2.5% |
| Minimum income | $60,000 personal or $100,000 household |
Below the income floor, the no-fee Momentum keeps 1% on gas, groceries and drugstores; see the alternatives in our cash back ranking.
Who This Card Is For
- Bill-heavy households: utilities, insurance premiums and subscriptions all earn 4% when charged to the card
- One-card wallets: the travel insurance package makes it viable as an only card
- Fee skeptics: a waived first year and a $300 offer make the test free
Who Should Look Elsewhere
- Heavy drivers: gas earns 2% here; the CIBC Dividend pays 4%
- Monthly cash-flow redeemers: the once-a-year November payout requires patience
How It Compares
Within Scotiabank, the no-fee Momentum and the Momentum Mastercard serve smaller budgets at lower rates. Outside the bank, the CIBC Dividend Visa Infinite is the mirror rival, and the BMO CashBack World Elite outbids both on groceries at 5% in exchange for a tighter monthly cap.
Our Verdict
The Scotia Momentum® VISA Infinite* card earns its best-seller status honestly: 4% on the two most universal budget lines, real insurance, and a free first year to prove the math. For most households, it is the strongest single cash back card in Canada.
Drivers who spend more at the pump than on subscriptions should compare the CIBC Dividend® Visa Infinite* Card, which swaps recurring payments for 4% gas. Our comparison tool puts them side by side.
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Scotia Momentum Visa Infinite – Frequently Asked Questions
What does the Scotia Momentum Visa Infinite earn?
4% cash back on groceries and on recurring bill payments and subscriptions, 2% on gas and daily transit, and 1% on everything else. The 4% categories share a combined annual spending cap of $25,000, after which they earn 1%.
What is the current welcome offer?
Up to $300 cash back on your first $2,000 in everyday purchases within three months, plus a first-year waiver of the $120 annual fee, supplementary cards included. The offer runs until November 1, 2026.
When is the cash back paid out?
Once a year, in November, as a credit on your statement. There is no on-demand redemption during the year, which is the card’s one structural quirk next to CIBC’s redeem-anytime model.
Does it really include trip cancellation insurance?
Yes. The card carries emergency travel medical, trip cancellation and trip interruption coverage on top of rental car, mobile device, purchase protection and extended warranty, a package most competitors reserve for travel cards at higher fees.
Scotia Momentum or CIBC Dividend Visa Infinite?
Both pay 4% on groceries. The Momentum adds recurring payments and stronger travel insurance; the CIBC Dividend® Visa Infinite* Card adds gas. Households with heavy bills and occasional travel lean Momentum; heavy drivers lean CIBC.
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