Scotiabank · Visa · cash back
Momentum No-Fee Visa
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Terms read from Scotiabank's page on Oct 16, 2026.
Year 1, after fees
$376
Year 2+, after fees
$276
every year after
3 years, after fees
$928
Break-even
No fee
Earn rate by category
All values are after each card's annual or monthly fee, and foreign transaction fees when you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime or Instacart+) aren't included.
Values for points and miles are estimates based on published redemption valuations; actual value depends on how you redeem.
On each spending preset
After fees; points at their cash value. "~" marks estimates.
| Spending | Year 1 | Year 2+ | 3 years | Break-even |
|---|---|---|---|---|
| Student ($985/mo) | $192 | $92 | $377 | No fee |
| Couple ($2,555/mo) | $324 | $224 | $772 | No fee |
| Family ($3,350/mo) | $376 | $276 | $928 | No fee |
| Frequent traveller ($3,880/mo) | $404 | $304 | $1,011 | No fee |
| Big spender ($7,960/mo) | $653 | $553 | $1,758 | No fee |
Who it suits
- People who spend a lot on groceries and bills, where it earns above its base rate.
Who should skip it
- Nothing stands out on the presets; check it against your own spending.
Fees and rates
- Annual fee
- None
- Foreign transaction fee
- Not stated
- Purchase APR
- 20.99%
Rewards
- 1% on groceries, drugstores, gas, transit, recurring bills and subscriptions, first $15,000 a year
- 0.5% on everything else
Eligibility and availability
- Income
- None published
- Provinces
- All (no restriction stated)
Published requirements only. We don't estimate approval odds.
Assumptions
- Cash back: Paid in cash, so the value is exact, not an estimate.
- Welcome bonus: 5% cash back on the first $2,000 in purchases in 3 months. Your spending meets it in month 1.
- Note: The 0.99% balance transfer offer (2% fee) isn't valued.
- Note: Scotiabank's page shows two different offer windows; the legal terms' July 2 to November 1, 2026 window applies.
Not counted or not confirmed
- Foreign transaction fee isn't on the card page.
Earns more every year after year 1
On a family's spending, these keep more value from year 2 than this card's $276.
Scotiabank Gold American ExpressYear 2+ $940
American Express SimplyCash PreferredYear 2+ $936
CIBC Dividend Visa InfiniteYear 2+ $767
Frequently asked questions
Is the Scotiabank Momentum No-Fee Visa worth it?
On a family's spending ($3,350 a month, points at their cash value), it's worth $376 in year 1 and $276 a year after that, after no annual fee.
What is the Scotiabank Momentum No-Fee Visa welcome offer?
5% cash back on the first $2,000 in purchases in 3 months.
Does the Scotiabank Momentum No-Fee Visa charge foreign transaction fees?
The issuer's page doesn't state its foreign transaction fee, so check the full terms before travelling.
Sources
Rates, fees and offers are set by the issuer and may change. Check the issuer's terms before you apply. We don't estimate approval odds.
Compare it with 39 other cards on the Canadian card comparison or read how cards are valued.