Earn 1% cash back on all eligible gas station, grocery store, drug store purchases and recurring payments.1
7.99% introductory interest rate on purchases for the first 6 months (20.99% after that; annual fee $0).2
Is this Credit Card right for you?
Right for you if you:
- Want to obtain a convenient and secure payment method for everyday purchases, that can also help you to build your credit history if you make at least your minimum payments on time each month
- Want an interest free grace period on purchases
- Value the rewards and benefits that can be earned with this Card
- Prefer to avoid annual fees
May not be right for you if you:
- Will be carrying an outstanding balance for a long period of time or using it for debt consolidation
- Don’t mind paying an annual fee to benefit from even more rewards & other benefits available with one of our other Cards
Fee & Rates
Minimum credit limit3
- 1% Cash back on all eligible gas station, grocery store, drug store purchases and recurring payments. Plus earn 0.5% cash back on all other eligible purchases.1
- Save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S. when you pay with your Scotia Momentum Mastercard credit card.4
- Consolidate all your current eligible recurring payments on your card and turn them into cash back rewards!
- Optional Scotia Credit Card Protection insurance. Coverage to help you and your family stay financially on track through unexpected events.9
Scotiabank Rewards Comparison
Select the type of reward or benefit you're interested in and take the guesswork out of choosing a card.
You will earn 1% cash back on net purchases made with your eligible Scotia Momentum Mastercard credit card at gas stations, grocery stores and drug stores as classified by Mastercard (Merchant Codes: 5411, 5541, 5542 & 5912). Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by Mastercard in another manner, in which case this added benefit would not apply. Recurring payments are defined as payments made on a monthly or regular basis automatically billed by the merchant to your Card. Recurring payments are typically telecommunication, insurance, membership, subscriptions, etc. Not all merchants offer recurring payments. (Please check with your merchant to see if they offer recurring payments on Mastercard cards.) You will earn 0.5% cash back on all other eligible purchases made with your Scotia Momentum Mastercard credit card. Cash Advances (including Balance Transfers, Scotia Credit Card Cheques or Cash-Like Transactions), returns, refunds or other similar credits, fees, interest charges or service/transaction charges do not qualify for cash back. See your Scotia Momentum Mastercard Cash Back Program Terms and Conditions for full details.
Offer Description and Conditions: : The Introductory 7.99% Interest Rate applies only to eligible purchases subject to the conditions below (the “Offer”). This introductory rate applies when the new Scotia Momentum Mastercard credit card account (“Account”) is opened by October 31, 2023 and will continue for 6 months from date of Account opening (the “Promotional Period”). After the Promotional Period, purchase balances at the promotional rate of 7.99% (including any unpaid balances) will increase to the preferred interest rate for purchases (currently 20.99%). If you don’t pay the minimum payment on your Account by the payment due date on your statement, two times in any consecutive 12-month period, you will lose the benefit of this promotional rate Offer and the interest rates that apply on any unpaid balance will increase to the standard annual interest rates that apply to your Account (currently 25.99% on purchases and 27.99% on cash advances (including balance transfers and cash-like transactions). There is no promotional low rate fee on purchases made during the Promotional Period. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers and cash-like transactions), interest, fees or other charges. All other terms and conditions of the Program Terms continue to apply during the Offer period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal 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 also eligible for the Offer.
Payment Allocation: In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.
Rates and Fees: There is currently no annual fee for the primary card and no fee for each additional card .(including those issued to co-borrowers and supplementary cardholders). The current preferred annual interest rates for the Account are: 20.99% on purchases and 22.99% on cash advances (including balance transfers and cash-like transactions). All rates, fees, features and benefits are outlined in the Application Disclosure Statement and are subject to change.
The savings of up to 25% applies to Avis and Budget base rates and is applicable only to the time and mileage charges of the rental. All taxes, fees (including but not limited Air Conditioning Excise Recovery Fee, Concession Recovery Fee, Vehicle License Recovery Fee, Energy Recovery Fee, Tire Management Fee, and Frequent Traveler Fee) and surcharges (including but not limited to Customer Facility Charge and Environmental Fee Recovery Charge) are extra. The Bank of Nova Scotia is not responsible for, and provides no representations, warranties or conditions regarding this offer or any Avis or Budget products or services, including Avis Preferred Plus membership and services and those obtained under this offer, which are governed solely by Avis’ terms and conditions. Avis Preferred Plus membership and services are provided by Avis.
Account Balance Protector is a group insurance policy underwritten by Canadian Premier Life Insurance Company. 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.