Cash back on everyday spending
2.99% introductory interest rate on balance transfers for the first 6 months*
Cash back with low annual fee
2% on eligible gas station, grocery store and drug store purchases and recurring bill payments
1% cash back on all other eligible everyday purchases
Rates, fees and other information are effective as of February 1, 2018. Subject to change.
* Visit the application page for further details
The introductory 2.99% interest rate applies to cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) only (the Offer). This rate applies when the new Scotiabank credit card account (Account) is opened by February 28, 2019 (the Offer End Date) and will continue for 6 months from that date (the Promotional Period). This offer cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank Account. After the Promotional Period, the 2.99% interest rate on any promotional balances (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) that applies on your Account. Offer applies only to new Scotiabank credit card accounts opened by the Offer End Date. Former or current Scotiabank credit cardholders that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account are excluded from this Offer. Offer may be changed or extended and cannot be combined with any other offer.
The 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). Rates and fees are subject to change.
A 1% Promotional Rate Fee (minimum fee of $3.50) will be charged on the amount of any promotional rate cash advances (which includes balance transfer, Scotia® Credit Card Cheque and cash-like transactions).
* See Online Providers Application for Terms and Conditions. Reasonable efforts are made to maintain information. See Online Providers Application for complete details. Visit providers site for more information.
PLEASE READ TO MAKE SURE YOU GET A CASH BACK REBATE
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Cash Back Rebate will be paid upon card approval.
One card that is becoming quite popular throughout Canada is the Scotia Momentum VISA card. The Momentum VISA card was created with the thought that some people might prefer getting cash back instead of receiving rewards or points for using it.
Like having an extra savings account, the money that you save accrues on your monthly credit card statements for one year. At the end of that 12 month period, the money will either be deposited into your Scotiabank bank account, or it will show up as a credit on your VISA statement.
There are three main categories of businesses that will provide you with 2% cash back on your purchases: grocery stores, service stations, and drug stores. Almost every grocery store chain in Canada participate. It is a similar situation with service stations and drugstores. If you are unsure if your retailer is a participant, you can visit the Scotiabank website and download a comprehensive list.
If you want to, you can arrange to make recurring payments with your Visa card through participating retailers. This means that you should be able to pay your cable, gas, phone, and other utility bills using your card and more importantly, your code. Because of that, you will be able to receive 2% credited back to you on most of your monthly purchases.
By using a Scotia Momentum VISA card, you automatically qualify for a 20% discount on any car rental through Avis. You do not have to rent from Avis in Canada for this discount to be applicable. You can also take advantage of some technology that Scotia built into the Momentum VISA card called payWave. PayWave allows you to visit any participating merchant and wave your VISA card in the air near the cash register to pay your bill. It is designed to make it much easier and more secure for you to walk into a service station or restaurant and pay.