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Scotia Momentum Mastercard Review

    If you are tired of jumping through hoops to earn the most cash-back from your credit card, it may be time to make a change. When you get an approval for the Scotia Momentum Mastercard, you receive 1% back for your everyday purchases – no questions asked. As long as you shop with a qualifying merchant, cardholders receive 1% back at grocers, gas stations, and drug stores. You can also get that amount for recurring bill payments. Anything that falls outside of those categories provides you with a 0.5% return.

    It is an excellent credit card for anyone trying to establish their credit history or repair their scores from past mistakes. The minimum credit limit is only $500, and there is no annual fee to worry about paying.  The APR is 19.99% for purchases and 22.99% (subject to change) for cash advances – making it competitive with the high-value options that come with higher income standards to meet.

    Why Choose the Scotia Momentum Mastercard?

    Cardholders can start to earn rewards immediately with this Mastercard option. If you consolidate your recurring payments to this one account, the cash rewards come back without costing more than what you currently pay. The only catch is that you pay Scotia instead of the vendor or creditor directly.

    Approved cardholders can add a supplementary card without cost. No annual fee applies to any extra cards.

    Because Costco in Canada only accepts Mastercard, cardholders get to use their Scotia Momentum Mastercard when shopping there, earning the maximum cash-back reward.

    Cardholders can also save up to 25% on AVIS car rentals, receive optional protections that cover a remaining balance, or shop in over 150 currencies in over 200 countries.

    Some Purchases Do Not Qualify for the Cash-Back Feature

    If you apply for the Scotia Momentum Mastercard, the 1% cash-back feature applies to merchants that have specific codes. If the payment processor doesn’t classify a vendor in the appropriate category, a cardholder receives 0.5% back instead of 1% for the transaction. You must verify the status of each store or website before transferring funds to ensure there are no surprises with regard to the rewards.

    Some transactions do not qualify for any rewards. The Scotia Momentum Mastercard does not offer anything back for interest charges, transaction fees, returns, refunds, or cash advances. If you use cash-like transactions with your new credit card, the program disqualifies that activity.

    If cardholders want to take advantage of the recurring payment benefit, it is up to each applicant to determine if their creditors offer this feature. Not all businesses provide this payment opportunity. It typically applies to subscriptions, memberships, and insurance costs.

    You can discover the current rates for the Scotia Momentum Mastercard by calling 1 (800) 263-9495. Applications are by appointment at a local branch or online.


    Scotia Momentum MasterCard
    Scotia Momentum Mastercard Credit Card Application


    Christopher - BSc, MBA

    With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.

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