Overview
The Scotiabank Momentum No-Fee Visa is the entry-level card in the Scotiabank Momentum cash back lineup. It earns 1% cash back on gas, groceries, drugstores, and recurring bill payments, and 0.5% cash back on everything else — all for $0/year. No points, no tiers, no redemption math — just cash back applied to your statement.
What sets it apart from other no-fee Momentum cards is its welcome bonus: earn 5% cash back on all purchases for the first 3 months, up to $2,000 in spending — that's up to $100 in bonus cash back right out of the gate. It also includes a 0% introductory balance transfer rate for 6 months, making it useful for consolidating debt from higher-rate cards.
The trade-off? The ongoing earn rates are modest, there's zero insurance coverage, and cash back is only paid out once per year.
Welcome Bonus
New cardholders earn 5% cash back on all purchases for the first 3 months, up to $2,000 in total spending. That's a potential $100 in bonus cash back — a strong offer for a no-fee card.
After the 3-month introductory period, the card reverts to its standard earn rates:
- 1% cash back on gas, groceries, drugstores, and recurring payments
- 0.5% cash back on all other purchases
To maximize the bonus, aim to put $667/month through the card during the first 3 months. Since the 5% applies to all purchases (not just bonus categories), use this card for everything in that window — even purchases you'd normally put on another card.
Earning Cash Back
The ongoing earn structure is straightforward:
- 1% cash back on gas, groceries, drugstores, and recurring bill payments
- 0.5% cash back on all other purchases
Estimating Annual Rewards
On a typical monthly spend of $400 on groceries, $200 on gas, $100 on drugstore purchases, $200 on recurring bills, and $400 on other spending, you'd earn approximately:
| Category | Monthly Spend | Rate | Annual Cash Back |
|---|---|---|---|
| Groceries | $400 | 1% | $48 |
| Gas | $200 | 1% | $24 |
| Drugstore | $100 | 1% | $12 |
| Recurring bills | $200 | 1% | $24 |
| Everything else | $400 | 0.5% | $24 |
| Total | $1,300 | $132 |
That's $132/year with no annual fee — an overall return of about 0.85%. Not chart-topping, but you're paying nothing for the privilege.
How Cash Back Is Paid
Your cash back accumulates throughout the year and is paid out once per year as a statement credit or deposited into a Scotiabank account. You can't redeem monthly or on demand — you're waiting up to 12 months for your cash back.
Balance Transfer Offer
The Momentum No-Fee Visa includes a 0% introductory rate on balance transfers for the first 6 months. After that, the rate reverts to 22.99%.
A 0% balance transfer is one of the best offers available in Canada. If you're carrying a balance on another card at 19.99%+ interest, transferring it here saves you real money — and there's no annual fee dragging down the savings.
Insurance Coverage
The Momentum No-Fee Visa includes no insurance coverage at all:
- No extended warranty
- No purchase protection
- No emergency medical insurance
- No trip cancellation or interruption
- No flight delay insurance
- No rental car insurance
- No mobile device insurance
This is a notable gap. Many competing no-fee cards (including from other issuers) include at least basic extended warranty and purchase protection. Even the $49 Momentum Visa adds those two coverages. If insurance matters to you, you'll need another card.
Momentum Family Comparison
The Scotiabank Momentum lineup has four cash back cards. Here's where the No-Fee Visa fits:
| Feature | Momentum No-Fee Visa | Momentum Mastercard | Momentum Visa | Momentum Visa Infinite |
|---|---|---|---|---|
| Annual Fee | $0 | $0 | $49 | $120 (1st yr free) |
| Gas / Groceries | 1% | 1% | 2% | 4% (groc) / 2% (gas) |
| Recurring Bills | 1% | 1% | 2% | 4% |
| Everything Else | 0.5% | 0.5% | 1% | 1% |
| Insurance Types | 0 | 0 | 2 | 11 |
| Welcome Bonus | 5% (3 mo) | None | None | 10% (3 mo) |
| Balance Transfer | 0% / 6 mo | 7.99% / 6 mo (purchases) | 2.99% / 6 mo | None |
| Network | Visa | Mastercard | Visa | Visa |
| Income Req. | $12K | None | $12K | $60K / $100K |
The No-Fee Visa has the best welcome bonus and balance transfer offer in the Momentum family, but the weakest ongoing earn rates. If you can afford the $49 annual fee, the standard Momentum Visa doubles your earn rates on bonus categories and adds basic insurance — a better long-term value for most spenders.
Cash Back vs. Scene+ Points
Like all Scotiabank Momentum cards, this card earns cash back, not Scene+ points. This means:
- Your cash back is applied as a statement credit (or deposited to a Scotiabank account)
- It does not pool with Scene+ points from other Scotiabank cards
- You can't redeem it for movies, dining, or travel through the Scene+ program
If you already earn Scene+ on other Scotiabank cards (Passport Visa Infinite, Gold Amex, etc.), this card's rewards exist in a completely separate ecosystem.
No-Fee Visa vs. Momentum Mastercard
The Momentum No-Fee Visa and the free Momentum Mastercard have identical ongoing earn rates (1% / 0.5%), but there are key differences:
| Feature | Momentum No-Fee Visa | Momentum Mastercard |
|---|---|---|
| Network | Visa | Mastercard |
| Welcome Bonus | 5% cash back (3 months) | None |
| Balance Transfer | 0% for 6 months | 7.99% for 6 months (purchases) |
| Works at Costco | ||
| Insurance | None | None |
| Supplementary Card | Free | Free |
Choose the No-Fee Visa if you want the welcome bonus and 0% balance transfer offer. Choose the Momentum Mastercard if you shop at Costco (Mastercard only). Ideally, get both — they're free and cover different card networks.
Who Should Get This Card?
The Scotiabank Momentum No-Fee Visa is ideal if you:
- Want a no-fee cash back Visa to earn on everyday spending
- Have credit card debt and want the 0% balance transfer rate for 6 months
- Like welcome bonuses — the 5% for 3 months is strong for a no-fee card
- Are new to credit and want a low-barrier entry card ($12K income, no annual fee)
- Prefer cash back over points programs
Who Should Look Elsewhere
- If you spend $1,500+/month — the $49 Momentum Visa earns double and more than covers its fee
- If you want insurance — this card has none; even the $49 Momentum Visa includes 2 types
- If you shop at Costco — you need a Mastercard; get the free Momentum Mastercard instead
- If you want to earn Scene+ points — consider the free Scene+ Visa or Scotiabank Amex
- If you travel internationally — the 2.5% FX fee makes this a poor choice abroad
Pairing Strategy
The Momentum No-Fee Visa works best as part of a multi-card strategy:
| Scenario | Use This Card |
|---|---|
| First 3 months (all purchases) | Momentum No-Fee Visa (5% welcome bonus) |
| Gas, groceries, recurring bills (after 3 months) | Momentum Visa (2%) or Visa Infinite (4%) |
| Costco | Momentum Mastercard (1%) |
| Sobeys / Safeway / FreshCo | Scotiabank Amex (3x Scene+) |
| International purchases | Scotiabank Passport Visa Infinite (0% FX) |
| Everything else | Scene+ Visa (1x Scene+) or Momentum Visa (1%) |
The No-Fee Visa is most valuable in its first 3 months (for the 5% welcome bonus) and as a 0% balance transfer vehicle. After that, a paid Momentum card or a Scene+ card will earn more on everyday spending — but there's no cost to keep this one in your wallet as a backup.
Bottom Line
The Scotiabank Momentum No-Fee Visa is a basic, entry-level cash back card. Its ongoing earn rates (0.5–1%) are underwhelming, and the total absence of insurance is a real gap. But you're paying $0/year — and the card sweetens the deal with a 5% welcome bonus for 3 months and a 0% balance transfer rate for 6 months.
It's best used as a starter card, a balance transfer tool, or a free supplement to stronger cards in your wallet. If you want to stay in the Scotiabank Momentum family but earn more, the $49 Momentum Visa doubles your rates and adds insurance — a worthwhile upgrade for most Canadians who spend more than $100/month.
