Card at a Glance
| Feature |
Details |
| Card name |
Scotiabank Momentum Visa Infinite |
| Annual fee |
$120 |
| Minimum income |
$60,000 personal / $100,000 household |
| Network |
Visa Infinite |
| Rewards type |
Cash back |
| Welcome bonus |
Typically $400-500 in first-year bonus cash back |
| Insurance |
Purchase protection, extended warranty, car rental |
Cash Back Rates
| Category |
Rate |
Annual Cap |
| Groceries |
4% |
$25,000 |
| Gas |
4% |
$25,000 |
| Dining |
4% |
$25,000 |
| Recurring bills & subscriptions |
4% |
$25,000 |
| Everything else |
1% |
No cap |
Annual Cash Back Estimate
| Monthly Spend |
Category |
Annual Cash Back |
| $600 groceries |
4% |
$288 |
| $200 gas |
4% |
$96 |
| $300 dining |
4% |
$144 |
| $200 recurring bills |
4% |
$96 |
| $500 other |
1% |
$60 |
| Total |
|
$684 |
Net return after $120 fee: $564/year = 3.1% effective return on $1,800/month.
Pros and Cons
| Pros |
Cons |
| 4% across 4 top categories |
$25K cap per category |
| Simple cash back (no points) |
Cash back paid annually (not monthly) |
| Visa Infinite acceptance |
$120 annual fee |
| Good travel insurance |
1% general rate is average |
| Recurring bills included |
Income requirement |
Scotiabank Momentum vs Alternatives
| Feature |
Scotia Momentum VI |
TD Cash Back VI |
CIBC Dividend VI |
BMO CashBack MC |
| Annual fee |
$120 |
$139 |
$139 |
$120 |
| Grocery |
4% |
3% |
4% (up to $6K) |
3% |
| Gas |
4% |
3% |
— |
1% |
| Dining |
4% |
1% |
2% |
1% |
| Recurring |
4% |
0.5% |
— |
— |
| General |
1% |
0.5% |
1% |
0.5% |
Who Should Get This Card
| Profile |
Recommendation |
| High grocery/gas/dining spend |
✅ Ideal |
| Want simple cash back |
✅ Yes |
| Have Scotia account (bundle discount) |
✅ Fee may be waived |
| Low spend (<$1,000/month) |
⚠️ Fee may not be justified |
| Prefer Aeroplan/travel points |
⚠️ Consider Amex Cobalt |