Scotia Momentum Visa Card
A solid broad-category 2% cash-back card, freshly restructured in February 2026. The $49 fee and lack of a sign-up bonus are the main drawbacks.
- Annual fee
- $49 ($15 for each additional card. Fee rose from $39 to $49 effective February 1, 2026.)
- Welcome bonus value (full offer)
- ≈ $0 No cash welcome bonus — 0.99% intro interest on balance transfers for 9 months (2% transfer fee), then 22.99%
- First-year net value
- ≈ $250
- Interest rates
- 20.99% purchases · 22.99% cash advances
Direct issuer link — details verified 2026-07-18
Rewards math assumes you pay your balance in full every month — interest charges quickly exceed any rewards value.
Standard Score breakdown
PassSix weighted components, each rated 0–10. “Contributes” is the rating × weight — add all six and you get the 5.28/10 Standard Score above.
See how the Standard Score works or re-weight it to your priorities.
Earn rates
| Category | Rate |
|---|---|
| Groceries, food delivery, drugstores, gas, EV charging, transit, recurring bills (first $25,000/year) | 2% |
| Everything else / spend beyond $25,000 | 1% |
Included insurance
Purchase security · Extended warranty
Why it earns its score
- Flat 2% cash back across a broad everyday category list
- Redeem cash back any time you reach $25 (a February 2026 enhancement)
- Low 20.99% purchase rate plus a 0.99% intro balance-transfer offer
Where it loses points
- 2% rate is capped at $25,000/year in eligible categories, then 1%
- $49 fee with no cash sign-up bonus to offset the first year
- No travel or rental insurance
Who it’s for
Everyday spenders who want simple flat-2% cash back across groceries, gas, transit, and bills.
Who should skip it
You spend heavily past $25,000/year in those categories, or you want a card with no annual fee.
The bottom line
Standard Score 5.3/10 — Pass. We estimate ≈ $250 in first-year net value after the $49 fee.
Direct issuer link — no commission shapes this review
Rewards math assumes you pay your balance in full every month — interest charges quickly exceed any rewards value.
Renewal math
Should you keep this card?
The welcome offer only lands once — so the keep-or-cancel question is whether the $49 fee still pays for itself on earn alone. Enter your monthly spend to see the recurring math.
~$264/year in rewards at this spend − $49 fee = $215/year
The fee pays for itself at this spend — keeping it is defensibleAt this spending mix, the card breaks even around $260/month on the card. Below that, the fee stops earning its keep.
Estimates price your spend at the card’s published earn rates and our Points Standard Index valuations; they ignore category earn caps and any retention offer the issuer might make if you call. Perks you actually use — insurance, lounge visits — are value on top of this math, so weigh them before cancelling.
Source: issuer card page · Last reviewed 2026-07-18. Details change often — confirm current terms with the issuer before applying.
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