Scotia Momentum No-Fee Visa Card Details & Review

Last updated on July 23, 2019 | Written by

Scotia Momentum  No-Fee Visa Card

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on Scotia Bank’s website

Looking for a credit card with no annual fee? With the Scotia Momentum No-Fee Visa, you can earn a little cash back on purchases, without having to pay for the privilege every year.

Because this card doesn’t require a Canadian credit history, it’s suitable for those taking out their first credit card.

Annual fee: $0

Eligibility: No credit history required

Interest rate: 7.99% first six months; 19.99% afterward for purchases (22.99% on balance transfers and cash advances)

Features of the Scotia Momentum No-Fee Visa Card

  • 1% cash back on eligible grocery, drugstore, gas station purchases and recurring bill payments
  • 0.5% cash back on other purchases
  • Add a cardholder and get rewards on their card purchases
  • Optional credit protection if you lose your job or are disabled
  • Credit limit starts at $500
  • Swipe or tap to pay and save time at checkout
  • Save up to 25% on car rentals in Canada and the US at participating AVIS and Budget locations

Review of Scotia Momentum No-Fee Visa Card

For Canadians looking for a no-frills card, this one fits the bill. There aren’t as many rewards as you might find on other cards, but there’s no annual fee.

The card works well for anyone taking out their first credit card, since a Canadian credit history isn’t required. The minimum limit is relatively low. Beginners can start with credit, without (hopefully) getting into too much trouble!

If used responsibly, the No-Fee Visa from Scotiabank can help build a solid Canadian credit history for the future.

It won’t suit anyone who often uses their credit card. Other cards with higher cash-back and points rewards are better for frequent spenders. The lack of an annual fee isn’t much of an incentive for them, since they generally earn back the fee on higher-reward cards.

Click here to learn more and apply.