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Scotiabank

Scotia Momentum Visa Infinite: Earn 5% Cash Back for the first 3 months

  • Last Updated:
  • Sep 22nd, 2018 2:27 pm
[OP]
Newbie
User avatar
Sep 5, 2016
54 posts
124 upvotes

[Scotiabank] Scotia Momentum Visa Infinite: Earn 5% Cash Back for the first 3 months

Deal Link:
Expiry:
April 30, 2017
Retailer:
Scotiabank
More offers from Scotiabank
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You can earn 5% cashback on purchases for the first 3 months (only on the first $3000 in purchases), plus an introductory 1.99% on Balance transfers for the first six months, when you apply the Scotiabank Momentum Visa Infinite Card before Apr 30, 2017. You will earn regular cash back on purchases (4% on gas/grocery; 2% on drugstore and bill payments; 1% on others) made after you have reached the 5% threshold / $3,000 in purchase in the first three months.

In addition to this, you can also get $55 bonus if you apply this card through GCR.
62 replies
Newbie
Aug 30, 2015
18 posts
1 upvote
toronto, ON
Wow i got this card 3 weeks after the promo came out -____-
Member
Oct 21, 2004
434 posts
30 upvotes
You must have a minimum annual income of $60,000 or a minimum household income of $100,000. :twisted:
Sr. Member
Oct 7, 2009
747 posts
489 upvotes
Toronto
$ 99 annual fee... Not even First Year Free = not hot for me.. Thanks OP anyway..
I am a Public Mobile subscriber
I am a Koodo subscriber
Deal Addict
Aug 27, 2009
1350 posts
1544 upvotes
jigz787 wrote: $ 99 annual fee... Not even First Year Free = not hot for me.. Thanks OP anyway..
I guess they replaced the promo. I got this card last month and both cards were free (normally 99$ + 29$). The free card offer was a better deal then this incremental discount on your first 3K.
[OP]
Newbie
User avatar
Sep 5, 2016
54 posts
124 upvotes
Kiraly wrote: CIBC's current offer on their cash back visa infinite is much better. 4% in all categories on first $5k spend, FYF = $200
Scotia's offer is 5% on $3k = $150, - $99 annual fee = $49.
Yes, I agree. I shared the CIBC offer here, too.
But it seems that people here don't like it....
Sr. Member
Nov 22, 2012
768 posts
880 upvotes
NS
Kiraly wrote: CIBC's current offer on their cash back visa infinite is much better. 4% in all categories on first $5k spend, FYF = $200
Scotia's offer is 5% on $3k = $150, - $99 annual fee = $49.
The CIBC offer is better for the max cash back bonus but it is sadly only available for people who are approved for their first CIBC credit card. No churners!

The newest Scotia Momentum VISA Infinite offer is ok but it is not even worth $49 when you factor in the normal cash back rates.
The real spend bonus is 1% in additional to the normal 4% for Gas & Grocery, which = $30 for 3K spend.
The real spend bonus is 3% in additional to the normal 2% for Drug Stores & Recurring Bill Payments, which = $90 for 3K spend.
The real spend bonus is 4% in additional to the normal 1% everything else, which = $120 for 3K spend.
For most people the old Scotia offer which appears quite often would be better with FYF and no spend bonus.
The only way the new offer is better is if you spend 3K on the normal 1% category, which gives $120 spend bonus - $99 fee = $21.
Member
Jun 29, 2005
494 posts
65 upvotes
is 5% cash back on all purchases and bill payments for 3 mths? or just for gas and grocery?
Member
Feb 21, 2014
446 posts
287 upvotes
Toronto
This card sucks, you have to pay your annual fee to get your cash back which almost negates the fact you get cashback unless you spend a ton on this card. It sounds better than it is. That said if you have a business or just spend a lot you can probably make it worth your time.
Deal Addict
Aug 27, 2009
1350 posts
1544 upvotes
pagefaultca wrote: This card sucks, you have to pay your annual fee to get your cash back which almost negates the fact you get cashback unless you spend a ton on this card. It sounds better than it is. That said if you have a business or just spend a lot you can probably make it worth your time.
I did the rough math comparing this card to costco's capital one.
Even after paying the fees for two cards (130$) I would still come out on top by using the momentum as my primary card.
Ie. All purchases except costco and restaurants go on this card.

It's the Gas and groceries discounts that are pretty big if you have 2 cars and a family (4%).
That being said, it's worth mentioning that the costco card has a better discount on restaurants (+3%).
Newbie
Nov 27, 2012
60 posts
18 upvotes
LONDON
Add on travel medical out side Canada (15 days)
Member
Mar 19, 2009
398 posts
208 upvotes
Although the promotion isn't that good, the card is the best on the market to me. It's better than the CIBC cashback card in the 2% category (recurring & drug stores vs. Tim Hortons & Telus). I signed up the scotia card with free annual fee and decided to keep it after a year.
Deal Addict
User avatar
Mar 1, 2005
1020 posts
478 upvotes
Markham
HZH wrote: Although the promotion isn't that good, the card is the best on the market to me. It's better than the CIBC cashback card in the 2% category (recurring & drug stores vs. Tim Hortons & Telus). I signed up the scotia card with free annual fee and decided to keep it after a year.
For your usage, how does this compare to the top rated (by MoneySense) MBNA Rewards World Elite?

It works out to 2% cashback on *all* purchases with no limits and no expiry.
Even with the $89 annual fee (they used to have a first year free offer), and since we funnel all purchases to this card, works out for my family to give the most cash back compared to other cards.
Newbie
Jul 22, 2009
76 posts
161 upvotes
Vaughan
This card is great. I have had it for quite a few years now. You can get a lot of extra value by purchasing gift cards at gas stations or grocery stores. For example, even though No Frills does not take Visa, you can go to Superstore/Fortinos/Loblaws and just purchase PC giftcards and get 4% cashback on them to use at No Frills. Restaurants can also be boosted to 4% cashback the same way since lots of restaurants offer giftcards. Electronics can be boosted to 4% using amazon/bestbuy giftcards. Netflix can be boosted to 4% instead of the typical 2% recurring by using Netflix giftcards... etc. You get the point.

Just don't go into a grocery store / gas station and buy 500 dollars worth of giftcards on the card alone. They may deny you use of a credit card for that (it has happened before). Spread out your gift card purchases on your typical grocery store/gas station runs and you should be ok.

Also, be careful of the terms of the extended warranty coverage of the credit card. I have a feeling if you buy giftcards with the card, then use the giftcard to purchase merchandise, they might say extended warranty does not apply because you did not directly purchase the merchandise on the card.
Deal Fanatic
User avatar
Apr 29, 2008
7959 posts
4705 upvotes
Montreal
chewy101 wrote: Also, be careful of the terms of the extended warranty coverage of the credit card. I have a feeling if you buy giftcards with the card, then use the giftcard to purchase merchandise, they might say extended warranty does not apply because you did not directly purchase the merchandise on the card.
You can be sure you don't have any extended warranty coverage if you use a giftcard to purchase merchandise.
VirginPlus / Stickermule / HP Instant Ink
Deal Expert
User avatar
Jan 9, 2011
15774 posts
21485 upvotes
Vancouver
pagefaultca wrote: This card sucks, you have to pay your annual fee to get your cash back which almost negates the fact you get cashback unless you spend a ton on this card. It sounds better than it is. That said if you have a business or just spend a lot you can probably make it worth your time.
You don't need to spend a lot to make paying the $99/year worth it. If you spend more than $412.50/month on gasoline and groceries, you'll come out farther ahead by using this card and paying the fee, than by using a card that gets you only 2% on those categories. I spend a lot more than that on gas and groceries, so this card is totally worth it for me.

The only thing I buy with this card that's not gas and groceries is airline tickets, because the insurance coverage is much better than any other card I have.
Member
Jan 5, 2016
401 posts
256 upvotes
Edmonton, AB
There's no doubt that the MBNA world elite is the better card in most cases. Most people just don't want to go out of their way to buy gift cards and have to worry about converting 1% purchases to 4%. With the flat rate 2% card, you just use it whenever and will come out ahead.

Card has $10 less annual fee w/ $100 sign up bonus. Being able to use Cashback monthly is great too or just save it up. It's been rated the #1 cash back card in Canada for obvious reasons.
Last edited by Diggingupbones on Feb 4th, 2017 10:57 am, edited 1 time in total.
Reason: Auto correct
Deal Addict
User avatar
Aug 1, 2007
1478 posts
246 upvotes
Diggingupbones wrote: There's no doubt that the MBNA world elite is the better card in most cases. Most people just don't want to go out of their way to buy gift cards and have to worry about converting 1% purchases to 4%. With the flat rate 2% card, you just use it whenever and will come out ahead.

Card has $10 less annual fee w/ $100 sign up bonus. Being able to use Cashback monthly is great too or just save it up. It's been rated the #1 cash back card in Canada for obvious reasons.
Another plus of the MBNA card is free additional users. Scotia charges 20 or 30 I think. For our situation using both the MBNA and Scotia cards is definitely worth it regardless.

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