Scotia Momentum^® Visa Infinite^* Card

Awarded a total of 11 awards and recognitions for cash back cards in Canada in 2019 by 8 of Canada’s major credit card comparison websites. Based on a comparison to other consumer cash back cards offered by Canadian Schedule I Banks as of November 22, 2019.

The 10% Cash Back and First Year Annual Fee Waiver Offer (the “Offer”) applies only to new Scotia Momentum® Visa Infinite* credit card accounts (“Accounts”) that are opened, and any supplementary Account cards issued, by July 1, 2020 and is subject to the below terms and conditions.  All other terms and conditions of the Program Terms continue to apply during the Offer period.

10% Cash Back Offer Description and Conditions: You will earn 10% cash back on the first $2,000 in eligible purchases you spend on your new Account within the first 3 months of the Account open date (the “Offer End Date”). Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. After the Offer End Date, you will earn regular cash back on eligible purchases at the regular cash back rate (the “Cash Back Program Rate”) described in the Scotia Momentum Visa Infinite* Cash Back Program Terms and Conditions (the “Program Terms”).  The 10% cash back rate for any category is made up of the sum of: (i) the regular Cash Back Program Rate (variable by categories as set out under the Program Terms); and (ii) a “Cash Back Bonus Rate”. Cash back earned under this Offer will be credited to your Account in 2 instalments so long as your Account is open and in good standing at time of payout of each:

1. Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within 7 months from the Account open date; and

2. Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under the Program Terms.

The Account is considered in good standing if it is not delinquent (past due) or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.  

EXAMPLE: If the Regular Cash Back Program Rate for the Groceries and Recurring Payments category is 4% then the Cash Back Bonus Rate will be 6% for that category so that you will earn a total of 10% on the amount of all eligible everyday purchases in that category until the Offer End Date. If you make $2,000 in eligible everyday purchases in the Groceries and Recurring Payments category, your cash back earnings will be credited to your Account as follows:

(1) the Cash Back Bonus earnings of $120 (6% x $2,000) will be credited to your Account within 7 months from the Account open date, and

(2) the Regular Cash Back earnings of $80 (4% x $2,000) will be credited to your Account as per the regular cash back payment schedule (i.e., November).

Annual Fee Waiver Offer Description and Conditions: We will waive the initial annual fee for the primary card and each additional supplementary card on the Account for the first year only.

Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer.

Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.

Rates and Fees: The current annual fee is $120 for the primary card and $50 for each additional supplementary card. The current preferred annual interest rates for the Account are: 20.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions).  All rates, fees, features and benefits are subject to change.

Based on a first year annual fee waiver of $120 for the primary card, $50 for one supplementary card, and a potential bonus cash back earning of at least $180 during the Offer period assuming a minimum spend of $2,000 at the lowest possible cash back earn rate under the Program of 1% (i.e., Cash Back Bonus Rate of 9% x $2,000).  Actual value will vary based on number of supplementary cards issued for the Account and individual category spend in the first 3 months.  See full Offer terms and conditions above.

You will earn 4% Cash Back on the first $25,000 you spend annually on purchases on the Account at merchants classified in the Visa Inc. (Visa) network as Grocery Stores & Supermarkets (Merchant Code 5411) and Recurring Bill Payments. Recurring Bill Payments are defined as payments made on a monthly or regular basis automatically billed by the merchant to your Scotia Momentum® Visa Infinite* Card. Not all merchants offer recurring bill payments. (Please check with your merchant to see if they offer recurring bill payments on Visa cards.)

Concierge Service provided by a duly licensed third-party premium concierge provider: AXA Assistance USA, Inc.

You will earn 2% Cash Back on the first $25,000 you spend annually on purchases made at merchants classified under the Visa network in the categories of Gas (includes Service Stations [with or without Ancillary services], and Automated Fuel Dispensers & Electric Vehicle Charging) (Merchant Codes 5541, 5542, 5552) and Daily Transit (including Local and Suburban Commuter Passenger Transportation, including Ferries, Passenger Railways, Taxicabs and Limousines, Bus Lines, Transportation Services [Not Elsewhere Classified]). (Merchant Codes 4111, 4112, 4121, 4131, 4789.)

You will earn 1% cash back on purchases made after you have reached the 4% and 2% $25,000 annual spend maximum ('overflow') and on all other eligible purchases made with the Card. Purchase returns, payments, cash advances, Scotia® Credit Card Cheques, credit vouchers, card fees, interest charges or service/transaction charges do not qualify for Scotia Momentum® cash back.

For current rates and information on fees and interest cost, call 1-888-882-8958. Interest rates, annual fees and features are effective as of August 1, 2019 and are subject to change without notice. Learn more about credit card fees and interest rates.

Common Carrier Travel Accident Insurance coverage is underwritten by American Bankers Life Assurance Company of Florida (ABLAC). Travel Emergency Medical Insurance is underwritten by ABLAC, except for travel in Cuba which is underwritten by Zurich Insurance Company Ltd. All other insurance coverages are underwritten by American Bankers Insurance Company of Florida (ABIC). The Bank of Nova Scotia is not an insurer. All claims for insurance indemnities must be forwarded to the insurers. Details of the coverage, including definitions, benefits, limitations, and exclusions, including a pre-existing condition for certain benefits, are in the Certificate of Insurance provided with the Card. Read the Certificate of Insurance then keep it in a safe place with your other valuable documents and take it with you when you travel. ABIC and ABLAC, their subsidiaries, and affiliates carry on business in Canada under the name of Assurant®. ®Assurant is a registered trademark of Assurant, Inc.

All Scotiabank retail credit cards, except ScotiaLine Visa Card, Scotiabank Value Visa Card, and No-Fee Scotiabank Value Visa Card, will have Visa payWave when issued or reissued. Visa payWave™ is a Trademark of Visa Int./Lic. User.

Apple Pay works with iPhone 6 and later in stores, apps, and websites in Safari; with Apple Watch in stores and apps; with iPad Pro, iPad Air 2, and iPad mini 3 and later in apps and websites; and with Mac in Safari with an Apple Pay enabled iPhone 6 or later or Apple Watch. For a list of compatible Apple Pay devices, see https://support.apple.com/km207105

The Primary Cardholder on the Scotiabank Momentum® Visa Card Account (the “Account”) is responsible for all charges to the Account including those made by the additional Supplementary Cardholder.

Scotia Credit Card Protection is a group insurance policy underwritten by Chubb Life Insurance Company of Canada. All coverage is subject to terms and conditions including limitations and exclusions which are outlined in the Certificate of Insurance which you will receive upon enrolment.

20% of your outstanding credit card account balance for up to 5 months up to a maximum of $10,000 per month and a total maximum of $50,000 if you are unable to work due to involuntary Job Loss, Strike or Lockout or become disabled.

Critical Illness, Disability, Job Loss and Strike/Lockout coverage terminates at age 70. Life coverage terminates at age 80.

A waiting period and pre-existing conditions apply to certain coverages. Critical Illness, Disability, Job Loss and Strike or Lockout coverages end at age 70; however, Life insurance coverage remains in place until the Primary Borrower reaches age 80. Full details of the coverage, including when coverage begins and ends, how to make a claim, terms and conditions, and limitations and exclusions, are outlined in the Certificate of Insurance.

Registered Trademark of The Bank of Nova Scotia

Visa Int. / Lic. User.

All other trademarks are the property of their registered owners.