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Terms read from Scotiabank's page on Oct 16, 2026.
Year 1, after fees
$545
Year 2+, after fees
$545
every year after
3 years, after fees
$1,635
Break-even
Month 1
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) | $136 | $136 | $407 | Month 4 |
| Couple ($2,555/mo) | $399 | $399 | $1,198 | Month 2 |
| Family ($3,350/mo) | $545 | $545 | $1,635 | Month 1 |
| Frequent traveller ($3,880/mo) | $558 | $558 | $1,675 | Month 1 |
| Big spender ($7,960/mo) | $1,156 | $1,156 | $3,469 | Month 1 |
Who it suits
- People who spend a lot on groceries and bills, where it earns above its base rate.
- Even light spenders: on a student's $985 a month it still earns back its fee.
Who should skip it
- Nothing stands out on the presets; check it against your own spending.
Fees and rates
- Annual fee
- $49
- Foreign transaction fee
- Not stated
- Purchase APR
- 20.99%
Rewards
- 2% on groceries, drugstores, gas, transit, recurring bills and subscriptions, first $25,000 a year combined
- 1% 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.
- Note: The 0.99% balance transfer offer (2% fee) isn't valued: the engine only values 0% intro rates.
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 $545.
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 Visa worth it?
On a family's spending ($3,350 a month, points at their cash value), it's worth $545 in year 1 and $545 a year after that, after a $49 annual fee. It covers its fee by month 1.
What is the Scotiabank Momentum Visa welcome offer?
There's no welcome offer on the issuer's page.
Does the Scotiabank Momentum 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.