• 7.99% introductory interest rate on purchases for the first 6 months*
• Cash back on everyday spending with no annual fee
• Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases)1 Plus get a 1.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $0)1
• Rates, fees and other information are effective as of Sep 1, 2020. Subject to change.
* Visit the application page for further details
◊ Offer Description and Conditions: The 5% Cash Back and Introductory 1.99% Rate Offer (the “Offer”) applies only to new Scotia Momentum No-Fee Visa credit card accounts (“Accounts”) that are opened by October 31, 2021 and is subject to the below terms and conditions. After the Promotional Period, purchase balances at the promotional rate of 7.99% (including any unpaid balances) will increase to the preferred interest rate for purchases (currently 19.99%). If you don’t pay the minimum payment on your Account by the payment due date on your statement, two times in any consecutive 12-month period, you will lose the benefit of this promotional rate Offer and the interest rates that apply on any unpaid balance and purchases will increase to the standard annual interest rates that apply to your Account (currently 24.99% on purchases and 27.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions)). Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges.
Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for the offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer.
Payment Allocation: In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.
Rates and Fees: There is currently no annual fee for the primary card and no fee for each additional supplementary card.
The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions).
All rates, fees, features and benefits are subject to change.
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.