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Mr. Loonie
Scotia Momentum® Mastercard® Credit Card

Scotia Momentum® Mastercard® Credit Card

7.3
Good
Expert Score · 5 reviews How we score

Best for: People who want cash back on gas, groceries and bills with no annual fee

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Yours:
Your own amounts, saved on this device only
Every year
$183

Ranked #122 of 176 for year one. See the list

See how we worked it out
Purchases
7.99% for 6 months
Then 20.99%
Annual fee
None
Apply now on Scotiabank’s site (opens in a new tab)
Needs $12,000 personal income
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from Scotiabank’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

Is it for me? What you’d earn Can I get it? Fees Similar cards
2 quick questions

Is it for me?

Is your personal income $12,000 or more?

Do you pay your card off in full most months?

Answer the 2 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: 1% back on groceries, gas, recurring bills and pharmacy
  • Good: No annual fee It costs nothing to keep.

Watch for

  • Watch for: Everything else earns 0.5% back That’s low for everyday spending.
  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d earn

With typical spending of $2,500 a month.

  • Groceries $96
    1% back $800 a month · $96 a year
  • Restaurants $15
    0.5% back $250 a month · $15 a year
  • Gas $30
    1% back $250 a month · $30 a year
  • Recurring bills $30
    1% back $250 a month · $30 a year
  • Travel $9
    0.5% back $150 a month · $9 a year
  • Everything else $39
    0.5% back $650 a month · $39 a year
  • Foreign currency $9
    0.5% back $150 a month · $9 a year
For you Year one Later years
Cash back you earn $228 $228
Annual fee $0 $0
Foreign currency fee2.5% on $1,800 a year −$45 −$45
Total $183 $183

Rows are rounded to the dollar.

What counts in each category
Groceries
1% back
Gas
1% back
Recurring bills
1% back On recurring payments
Pharmacy
1% back
Everything else (base rate)
0.5% back

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Checked on Nov 8, 2026. Source

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Personal income $12,000 or more Issuer says
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.

What critics say

Other reviewers on this card

7.3
Good
Expert Score How we score
  • Money.ca (opens in a new tab) Mar 2025
    6

    “If you're someone who values simplicity and savings, the Scotiabank Momentum Mastercard credit card could be worth your consideration. With no annual fee, you keep extra money in your pocket while still reaping rewards on everyday purchases. You earn 1% cash back on eligible gas station, grocery store, drug store purchases and recurring bill payments, and 0.5% cash back on all other purchases.”

  • SAVVY New Canadians (opens in a new tab) May 2023

    “The Scotiabank Momentum Mastercard is a straightforward cash back credit card offering up to 1% in rewards. It's a good option if you are looking for a student credit card or an entry-level card. It is easy to apply and qualify for it if you have a good credit score and a personal annual income of at least $12,000.”

  • Wealth Rocket (opens in a new tab) Jan 2023
    9

    “The Scotiabank Momentum Mastercard is not a particularly memorable card — there isn’t a single feature on here that makes it stand out from the crowd — but that doesn’t mean that it’s not worth considering. After all, in the world of finances, not all that glitters is gold. If you are on a limited income or find that you mostly use your credit card to pay for everyday purchases, the Scotiabank Momentum Mastercard is one to seriously consider simply for its straightforward rewards system and lack of annual fee.”

  • MoneyGenius (opens in a new tab) Feb 2021
    6

    “The Scotiabank Momentum Mastercard has a 3 star rating because it is a no fee credit card that offers an easy way to earn cash back on all your purchases. And with a low income requirement, it is within reach of most Canadians who have a good credit score, which is also a nice feature. On the other hand, there are other no fee credit cards with better earn rates, better features, and better included insurance coverage. You'll also find no fee credit cards that have some reasonably generous welcome bonuses, which this card doesn't offer at all.”

  • Finder (opens in a new tab) Jan 2021

    “The Scotia Momentum Mastercard offers a modest, no-frills cash back rewards program in return for a fee-free service. Earn rewards on eligible gas, grocery and drug store purchases in addition to recurring payments.”

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Mastercard Global Services
  • Save up to 25% off base rates at participating AVIS locations and at participating Budget locations in Canada and the U.S.
Fees and interest

What it costs

Annual fee
None
Purchase interest
20.99%
Cash advance interest
22.99%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
None
Cash advance fee
$5.00, For transactions processed by Scotiabank, any financial institution in Canada, Scotiabank ABM, any non-Scotiabank ABM displaying Interac+ symbol ; $7.50 for transactions obtained at any ABM or processed by any financial institution outside of Canada
Balance transfer fee
$5.00
Over-limit fee
$29
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
22.99%
Intro rate: purchases
7.99% for 6 months
Source
Issuer page

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With typical spending. This card: $183 year one, $183 every year after.

See all cards ranked for your spending

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the Scotia Momentum® Mastercard® Credit Card?

There is no annual fee.

What income do I need?

Scotiabank asks for $12,000 in personal income.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

20.99% on purchases. Cash advances are 22.99%.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$183
a year for you
Apply now on Scotiabank’s site (opens in a new tab)
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