Scotia Momentum Visa Infinite Card

Overview

The Scotia Momentum Visa Infinite Card is one of Canada's top cash back credit cards. It earns 4% cash back on groceries and recurring bill payments, 2% on gas and transit, and 1% on everything else — delivering a strong return on the spending categories where most Canadian households spend the most.

What makes it stand out in a crowded cash back market is the combination of high earn rates, 11 types of insurance (including mobile device coverage), Visa Infinite perks, and a first-year fee waiver. The welcome offer — 10% cash back on all purchases for the first 3 months up to $2,000 in spend — adds up to $200 right out of the gate.

The catch? Cash back is paid out once per year in November as a statement credit. There's no way to redeem early or in smaller chunks. If that bothers you, other cards offer more flexible redemption — but few match this card's raw earn rates on groceries and bills.

Earning Cash Back

The earn structure targets the two biggest spending categories for Canadian families:

• 4% cash back on groceries and recurring bill payments (up to $25,000/year per category)
• 2% cash back on gas and daily transit (up to $25,000/year)
• 1% cash back on all other purchases (no cap)

Real-World Earning Example

On a typical household spend of $600/month on groceries, $300 on recurring bills (phone, internet, insurance, subscriptions), $200 on gas, and $900 on other purchases:

After the $120 annual fee (waived year one), that's $468 in net cash back — a strong return for a straightforward card.

Welcome Bonus: 10% Cash Back

New cardholders earn 10% cash back on all purchases for the first 3 months, up to $2,000 in spend. That's a potential $200 bonus — and it applies to every purchase, not just bonus categories. Combined with the first-year fee waiver, your first-year net return is exceptional.

The offer expires April 30, 2026.

Spending Caps

Both the 4% and 2% categories cap at $25,000 per year in spend each. That's $1,000 and $500 in potential annual cash back from the bonus categories respectively — more than enough headroom for the vast majority of households. After the cap, purchases earn at the 1% base rate.

Important: What Counts as "Groceries"

The 4% grocery rate applies to merchants with a grocery store merchant category code (MCC). This typically includes Sobeys, Metro, Loblaws, No Frills, Safeway, and most standalone grocery stores. However, Walmart and Costco (even though they sell groceries) are coded as general merchandise, so you'll only earn 1% there.

Cash Back Redemption: The November Rule

The biggest drawback of this card: cash back is paid out once per year, in November, as a statement credit. You cannot redeem early, you cannot request a cheque, and you cannot use your accumulated cash back at any other time.

If you open the card in January, your first cash back deposit won't arrive until the following November — nearly two years later if you count the welcome bonus earned in months 1–3.

This isn't a dealbreaker for most people (the money still comes), but it's worth knowing upfront. If you prefer on-demand redemptions, consider the Scotiabank Gold American Express Card instead — Scene+ points can be redeemed anytime.

Insurance & Benefits

The Momentum Visa Infinite includes 11 types of insurance — a robust package for a cash back card:

Travel Insurance

• Travel emergency medical insurance — Up to $1,000,000 for 15 days per trip
• Travel accident insurance — $500,000
• Trip cancellation insurance — Up to $1,500
• Trip interruption insurance — Up to $2,000
• Flight delay insurance — Up to $500
• Baggage delay insurance — Up to $500
• Lost or stolen baggage insurance — Up to $500
• Car rental collision/loss damage waiver — Decline the rental company's coverage

Purchase & Device Protection

• Mobile device insurance — Up to $1,000 for accidental damage, theft, loss, or mechanical failure (charge your phone or phone plan to the card)
• Purchase protection — 90 days
• Extended warranty — 1 additional year

Visa Infinite Perks

As a Visa Infinite card, you also get access to:

• Visa Infinite Luxury Hotel Collection — Room upgrades, complimentary breakfast, late checkout, and credits at premium hotels worldwide
• Visa Infinite Dining Series — Exclusive multi-course dining experiences across Canada
• Visa Infinite Wine Country — Complimentary wine tastings and experiences at select wineries

Scotiabank Ultimate Package: Waive the Fee Permanently

The $120 annual fee can be waived every year if you hold the Scotiabank Ultimate Package bank account. The account has a $30.95/month fee, but that's also waived if you keep a $5,000 daily minimum balance.

So if you already bank with Scotiabank and keep $5,000+ in your chequing account, you're effectively getting a $120/year premium cash back card with 11 types of insurance for $0 in fees — permanently.

Momentum Visa Infinite vs. Scotiabank Gold Amex

Both are $120/year Scotiabank cards. Here's how they compare:

Choose the Momentum Visa Infinite if you spend heavily on recurring bills (4% vs. 1%), need Visa acceptance, or prefer straight cash back over points.

Choose the Gold Amex if you want no FX fees, higher grocery earn rates, more flexible redemption (anytime, not just November), or can't meet the $60,000 income requirement.

Best strategy: Carry both. Use the Momentum for recurring bills (4%) and merchants that don't take Amex, and the Gold Amex for groceries (5–6x) and dining (5x). Both are first-year free, so there's no risk trying them together.

Who Should Get This Card?

The Scotia Momentum Visa Infinite is ideal if you:

• Spend heavily on groceries and recurring bills — the 4% rate is among the highest in Canada
• Want Visa acceptance — works nearly everywhere, including Loblaws, Shoppers, and online
• Need insurance on a cash back card — 11 types including emergency medical and mobile device
• Prefer simple cash back over managing points programs
• Bank with Scotiabank — the Ultimate Package can waive the annual fee permanently
• Meet the income requirement — $60,000 personal or $100,000 household

Who Should Look Elsewhere

• If you want flexible redemption — the November-only payout is rigid; Scene+ cards offer anytime redemption
• If you travel internationally — the 2.5% FX fee negates some rewards; get the Scotiabank Passport Visa Infinite
• If you shop at Costco — this is a Visa, not Mastercard; the Scotiabank Momentum Mastercard covers Costco
• If you don't meet the income requirement — the Scotiabank Gold Amex only requires $12,000

Pairing Strategy

The Momentum Visa Infinite works best as part of a multi-card setup:

Bottom Line

The Scotia Momentum Visa Infinite Card is one of Canada's best cash back credit cards — full stop. With 4% on groceries and recurring bills, 2% on gas and transit, 11 types of insurance, and a $200 welcome bonus, it delivers exceptional value for Canadian families who spend on the categories it rewards. The November-only cash back payout is annoying but manageable, and the first-year fee waiver lets you test the card risk-free. If you spend $600+/month on groceries and bills, this card pays for itself many times over.