What the Card Offers
Scotiabank markets the Momentum Visa Infinite+ as its top cash back card: 4% on groceries and recurring bills, 2% on gas, transit and food delivery, 15% cash back for the first 3 months, the first-year fee waived and travel insurance.
- 4%
Cash back on groceries and bills1
4% at grocery stores and on recurring bill payments, on up to $25,000 a year.
- 2%
Gas, transit and food delivery1
2% on gas, EV charging, transit, rideshare and food delivery, on up to $25,000 a year.
- $0
First-year annual fee2
The $120 annual fee is waived for the first year, including supplementary cards.
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- 15%
Welcome cash back2
15% on the first $2,000 in purchases in the first 3 months, up to $300.
- $1,000
Mobile device insurance3
Up to $1,000 for a lost, stolen or damaged phone or tablet bought with the card.
- $1,500
Trip cancellation per person3
Trip cancellation up to $1,500 per person and interruption up to $2,000.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (3)
- Scotia Momentum Visa Infinite+ product page, footnote 4 (retrieved 2026-10-16)
- Scotia Momentum Visa Infinite+ product page, footnote 1 (retrieved 2026-10-16)
- Scotia Momentum Visa Infinite+ Certificate of Insurance 50469817 (01/26)
Points & Redemption
Rates: Scotia Momentum Visa Card Cash Back Program Terms & Conditions (effective February 1, 2026), s. 2. Cash back is credited to your account balance at face value.
The Fine Print Report
Light fine print. Strong earn rates; insurance is the main limit.
Medical: 15 days, none at 65+Impact level: High
Emergency medical covers only 15 days, and nothing if you're 65 or older
Travel emergency medical covers up to $1 million, but only for cardholders and spouses under 65, and only for the first 15 consecutive days of a trip.
Why it matters: Anyone 65 or older, and anyone on a trip longer than two weeks, needs separate travel medical insurance.
4% only at stores coded as groceryImpact level: Medium
4% only applies at merchants coded as grocery stores
The 4% grocery rate applies only to merchants classified in the Visa network as grocery stores (MCC 5411). Big-box stores, warehouse clubs, pharmacies and convenience stores usually carry different codes and earn 1%.
Why it matters: If you buy most groceries at Walmart or Costco, much of that spending earns 1%.
4% and 2% capped at $25,000 a year eachImpact level: Medium
The 4% and 2% rates each stop after $25,000 of spending a year
The 4% rate (groceries and recurring bills) and the 2% rate (gas, transit, rideshare and food delivery) each apply to up to $25,000 in purchases a year, counted from your account-opening statement period. Spending beyond the limit earns 1%.
Why it matters: The caps limit 4% cash back to $1,000 a year. Few households exceed them, but large families might.
Rent and tax stop earning bonus Oct 22Impact level: Medium
From October 22, 2026, rent and tax payments no longer earn the recurring-bill rate
Scotiabank's cash back terms page announces that, effective October 22, 2026, rental payments (MCC 6513) and tax payments (MCC 9311) no longer qualify as eligible recurring bill payments.
Why it matters: If you planned to charge rent or property tax to the card for the bonus rate, that stops this month.
2 missed payments: 25.99% rateImpact level: Medium
Two missed payments in a row raise your rates to 25.99% on purchases and 27.99% on cash advances
If Scotiabank doesn't receive your minimum payment by the due date two consecutive times, any promotional rate ends and the interest on your unpaid balance rises to the card's standard rates, currently 25.99% on purchases and 27.99% on cash advances. Under the credit agreement, you pay the higher standard rates until you've made your minimum payment on time continuously for the period in your Disclosure Statement.
Why it matters: Automatic minimum payments protect both the promotional rate and your regular rate.
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No bonus if you had a Scotia card in 2 yrsImpact level: Medium
The welcome offer excludes anyone who has had any Scotiabank personal credit card in the last 2 years
The 15% cash back offer excludes current and former primary or secondary cardholders of any Scotiabank personal credit card in the past 2 years, including people switching from another Scotiabank card. Bonuses are credited about 8 weeks after you qualify, and only if the account is open and in good standing.
Why it matters: If you already hold a Scotiabank card, or did recently, you won't receive the bonus, even as a supplementary cardholder.
Cash back lost 90 days after closingImpact level: Medium
Unredeemed cash back expires 90 days after the account closes, and is lost immediately if it closes in bad standing
Cash back doesn't expire while the account is open and in good standing. If the account is closed in good standing, you have 90 days to redeem the balance, and only by phone; after that it expires. If Scotiabank closes the account when it isn't in good standing, all cash back earned to that point is forfeited.
Why it matters: Redeem your balance (minimum $25) before closing or switching cards.
2.5% FX fee; refunds don't reverse itImpact level: Medium
Foreign currency purchases carry a 2.5% conversion fee, and refunds don't reverse it
Purchases in a foreign currency are converted to Canadian dollars and charged a foreign currency conversion fee of 2.5% of the converted amount. If a foreign purchase is refunded, the credit won't match the original charge: Scotiabank doesn't reverse the conversion mark-up, and the exchange rate may have moved.
Why it matters: Every $1,000 spent abroad or online in a foreign currency costs about $25 in fees, and a refunded foreign purchase still costs you the fee.
Scotiabank can debit your other accountsImpact level: Medium
Scotiabank can take what you owe from your other Scotiabank accounts
The credit agreement lets Scotiabank debit any other account you have with it for any payment you owe on the card and apply it to your balance.
Why it matters: If your chequing account is also at Scotiabank, a missed card payment can lead to a withdrawal you didn't schedule.
15% includes regular cash backImpact level: Low
The 15% offer includes your regular cash back, and the bonus part is held for about 5 months
The 15% is the card's regular rate plus a bonus rate, on up to $2,000 in purchases in the first 3 months. The bonus portion becomes redeemable about 5 months after the account opens.
Why it matters: On $2,000 of groceries, about $80 of the $300 is the cash back you'd earn anyway.
Card can be frozen, limit cut without noticeImpact level: Low
Scotiabank can freeze the card or cut your limit to zero without notice or a reason
The agreement lets Scotiabank block, suspend or freeze the account, or reduce the credit limit (even to zero), at any time, without telling you in advance and even if you're not in default, including when the account is inactive.
Why it matters: Don't rely on this card as your only way to pay, especially while travelling.
Who This Card Is For
Great fit if you...
- Spend heavily at supermarkets
- Pay phone, internet and subscriptions by card
- Want simple cash back
- Are under 65 and take short trips
- Have a Scotiabank Ultimate Package
Consider alternatives if you...
- Buy groceries at warehouse clubs or big-box stores
- Are 65 or older and travel
- Take trips longer than 15 days
- Make foreign-currency purchases
Welcome Bonus History
Momentum Infinite+ Welcome Bonus History
The Verdict
The Momentum Visa Infinite+ pays some of the highest cash back in Canada: 4% at supermarkets and on recurring bills, with clear redemption rules and no point valuations to worry about.
The 4% depends on the store being coded as a grocery store, both bonus tiers are capped at $25,000 a year, and travel medical excludes anyone 65 or older.
The Recommendation: A top pick for cash back on supermarket and bill spending. Travellers 65 and older should add separate medical coverage.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of October 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer