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All you have to do is spend $2,000 on this card during the first 3 months to maximize this promotion!
But let’s look at how exactly this 10% cash back welcome bonus works and why it’s exciting.
Scotia Momentum® Visa Infinite+* Cardholders usually earn their cash back annually, on the November statement. So a person who signs up in January 2023 will receive their annual cash back in November 2023.
However, as part of the 10% bonus, there will be two payments.
The 10% cash back applies to the first $2,000 in purchases charged to your card within the first 3 months.
In fact, this cash back rate is divided into two:
And the cash back will be credited to your credit card account in 2 installments!
During the first 3 months, it is in your best interest to use your Scotia Momentum® VISA Infinite+* card in merchant categories with a 1% rate (i.e., excluding grocery stores, gas stations, or local transit).
Explanations in a table for $2,000 in purchases based on merchant category:
Members of the milesopedia facebook group had a very relevant remark!
By purchasing $2,000 worth of gift cards on Costco.ca (which accepts VISA cards, unlike warehouses) with the Scotia Momentum® VISA Infinite+* card, you can maximize this welcome bonus!
It’s as if your first $2,000 spent at Costco earned you $200, or a 10% rebate!
For those who wish to use this card throughout the year – and not just take advantage of the 10% welcome bonus – it is a very attractive card due to its accumulation rates:
Given that it is a VISA card, you will have no difficulty using it at your favorite merchants and can benefit from rates as attractive as those offered by the Scotiabank Gold American Express® Card or the American Express Cobalt® Card.
Are you a tenant? In our opinion, the best use of the 4% discount is for rent payments, one of the most important expenses in a budget. Thanks to Chexy, it’s now possible to earn rewards on your rent! This Canadian company lets you pay your rent by credit card, and then Chexy takes care of the monthly Interac transfer to your landlords.
This way you :
Without calculating the increased cash back with the welcome offer, this represents $405 in cash back per year on a monthly rent of $1,500! Here’s how to do it with Chexy:
December – January are the best months to subscribe to The Scotia Momentum® Visa Infinite+* Card:
Then, you are free to keep this credit card in your wallet for an additional year or opt for another cash back credit card!
Savings this way:
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