Personal Finance

Scotia Momentum Visa - 2 %, Gas, Groceries, Pre-Auth; 1 % Other. Not Tiered !, $39/yr

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[OP]
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Sep 10, 2004
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Scotia Momentum Visa - 2 %, Gas, Groceries, Pre-Auth; 1 % Other. Not Tiered !, $39/yr

New Visa from Scotiabank, 2 % rebate for gas, groceries, drugstore and preauthorized payments, 1 % rebate for all other purchases (not cash advance obviously)

Annual fee of $39 dollars, maybe you can get this waived.

Promotional offer for the 1st 3 Months, of 2 % rebate on EVERYTHING.

There is a link to a rebate calculator on the site.

http://scotiabank.com/cda/content/0,160 ... Den,00.htm

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Sep 13, 2005
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Ottawa
At first glance this looks like a really good card, well better than quite a bit of the cash back cards in the market right now. I haven
[OP]
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Sep 10, 2004
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The Ivory Actuary wrote: Doesn't seem to be a rebate cap (cap of $25,000 spending for 2% bonus, but still 1% after that) so this card beats Citi Enrich and NBC Ultramar for high-spenders. It also beats CIBC's Dividend Platinum (except, potentially for insurances..see below)

Any information on what insurances are included, or are you paying that fee solely for the high cashback?

I'm seriously considering this card, but I think I'd need to start a relationship with Scotiabank before they considered waving anything for me - and that would be a pre-condition of my getting this card.
The website mentions,

"With Purchase Security and Extended Warranty protection3"

Footnote 3 says:

"For all insurance coverage, certain limitations, restrictions and exclusions apply. You will receive a Certificate of Insurance which contains a full description of coverage."
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Mar 23, 2004
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not bad, note that u only earn 2% on the first 25k and then it will be 1% for those elgible merchants. I wish they list which of this merchants are...

This card looks good though, so I might apply for it...but dang $39 annual fee.
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Sep 13, 2005
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angel_wing0 wrote: not bad, note that u only earn 2% on the first 25k and then it will be 1% for those elgible merchants. I wish they list which of this merchants are...

This card looks good though, so I might apply for it...but dang $39 annual fee.
If you
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Jul 21, 2006
363 posts
3 upvotes
This card is really attractive. Considering getting one myself.
Deal Expert
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Jun 14, 2003
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It is funny that NoFrills is in their merchant list and NoFrills does not take Visa. :D
Too many people spend money they haven't earned to buy things they don't want, to impress people they don't like. -- Will Smith
Growing older is mandatory. Growing up is optional.
Stay hungry, stay foolish.
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Dec 11, 2005
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I wonder how they determine what is a "pre authorized payment" with a credit card?
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
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brunes wrote: I wonder how they determine what is a "pre authorized payment" with a credit card?
well:

Recurring payments are defined as payments made on a monthly or regular basis automatically billed by a merchant.

I guess as long as it's automatic :D
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Jan 14, 2004
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gman wrote: It is funny that NoFrills is in their merchant list and NoFrills does not take Visa. :D
Maybe it's foreshadowing the future....

But this card sounds pretty good if you have a family to feed and the fee isn't that high.
:lol:
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Hairball wrote: Maybe it's foreshadowing the future....
i doubt that...loblaws/RCSS are in there as well but they only take mc as well afaik.

And it will be funny if they dont have the same merchant # than listed on the pdf when u pay...gotta tell them: "make sure u bring the terminal with that merchant # else i wont pay!" :lol:

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