Scotia Momentum Mastercard Review

There are a lot of credit cards that offer great services at no annual cost. With consumerism increasing in the society, credit card companies are leveraging the impulse buying behavior of the customers and are rolling out more and more such cards that provide splendid incentives in terms of cash backs, reward points and low-interest rates. In Canada, specifically, there are quite a few credit cards that don’t charge an annual fee and offer great cash backs.

While the features might be similar, each card has one or more distinct offerings that help it stand out among the crowd. Scotia Momentum Mastercard is one such credit card that despite offering some pretty standard services is a popular option among the users due to its low-interest rate on purchases. It has its perks over the regular incentives of cash backs and reward points.

Let’s take a look at the detailed review of the Scotia Momentum Mastercard.

Scotia Momentum Mastercard Overview

Scotia Momentum offers two types of cards, Mastercard and Visa Infinite. Both are extremely popular with their own distinct features. Scotia Momentum Mastercard is widely accepted by the customers due to a varied number of reasons. It is offered at zero annual charges and 1% cash back on purchases. While these are general features that are offered by plenty of other cards, Scotia Momentum Mastercard is popular due some other unique features, as mentioned below.


  • The Scotia Momentum Mastercard comes at a zero annual fee which it makes extremely attractive as it offers more to the customers than it charges.
  • The minimum credit limit on the card is $500. The limit changes as per the income slab and the credit score of the customer.
  • The user has the option to consolidate all the recurring payments that are paid through the card. These payments can be converted into reward points. The recurring payments are attributed to purchases like insurance, gym memberships, phone and internet bills and other subscriptions.
  • The card offers a 19.99% interest rate on all purchases. The interest rate charged on cash advances is 22.99%. The same interest is charged on balance transfers as well as cheques issues through Scotia credit card.
  • You can add a supplementary card along with the Scotia Momentum Master Card. The card can be issued in the name of any friend or a family member. All cards on the account come with zero annual fees. More details can be found on the website of the credit card provider.


  • Users can earn cash back on everyday purchases like grocery, dining and entertainment payments. The cash back points are earned on all types of purchases. Not only does the primary cardholder earn the cash back, but the supplementary cardholder earns cash back rewards at the same ratio as the primary user, which is a unique feature when compared to other credit cards.
  • A low 7.99% promotional interest rate on purchases within the first 6 months of opening your account: one of the lowest interest rates you’ll find on any cash back card. Once you reach the 6-month promotional mark, interest rates rise to the standard 19.99%, effective for all unpaid charges and balances.
  • An extremely low-interest rate is charged on purchases made within the first six months of getting the card or opening your bank account with Scotia. The interest charged on purchases for the first six months is 7.99%, which is one of the lowest rates in the industry.
  • There are no hassles when it comes to keeping records of the account. All payments done from the primary card as well as the supplementary card are consolidated into one monthly statement and are distinctly mentioned on the account statement.
  • This is a contactless card which means you don’t swipe and insert your card in a card machine. The payments are much faster and easier this way. The Tap & Go feature is still unavailable in a lot of credit cards which makes the Scotia Momentum Mastercard a preferred option.
  • One of the benefits of having a Mastercard is having access to Masterpass which is the digital wallet provided to the card users free of cost. The wallet is a consolidated platform to track and store all your purchases on the Mastercard. The card information is automatically saved so that you don’t need to enter it again and again for shopping online.
  • In case your transaction is of CAD $100 or a lower amount, you don’t need to enter your PIN.
  • The user is not liable for any unauthorized transactions on the card through Zero Liability Protection.
  • Being a holder of the Scotia Momentum Mastercard, the users can save up to 25% at certain AVIS and Budget locations. The offer is valid in both Canada and the U.S.
  • The Mastercard comes with an Account Balance Protector which is an optional insurance coverage plan. The plan covers any financial damage caused in the event of disability, death, loss of employment, accidental hospitalization and other such life-changing and threatening events.
  • The Scotia Momentum Mastercard is accepted at the Costco wholesales stores across Canada. This is a major plus for users that regularly shop at the outlet since even American Express and VISA cards are not usable at Costco.


  • Cash back on recurring payments is not provided by all merchants. Therefore, it’s important to check first which vendor offers this service.
  • There is no travel insurance that comes with the card which is a huge negative for people that like to travel frequently.


While the credit card does not offer any outrageous offers as compared to other cards, Scotia Momentum Mastercard is a good option for people who are getting their first credit card and want to set a strong foundation for their credit score. The card offers excellent interest rates on the initial six months purchases which are also one of the best features of the card. This is also a good card for people who like to shop at Costco since the chain does not accept any VISA cards.

Overall, Scotia Momentum Mastercard is a preferred option for beginners.