Scotia Momentum No-Fee Visa Card Offer: Up to $100 Cash Back

The Scotia Momentum^MD No-Fee Visa Card currently offers enhanced cash back of 5% on the first $2,000 in purchases, capped at $100, plus a rate of 0.99% on balance transfers for 9 months.

The offer is active for accounts opened between July 2, 2026 and November 1, 2026. Here’s the exact breakdown of these two components, the spending requirements to meet, and what the card earns once the offer ends.

The $100 Cash Back: Exact Breakdown

The bonus works through an enhanced rate rather than a fixed amount paid all at once. Here are the exact parameters:

In practical terms, a new cardholder who spends $2,000 or more within the first 3 months receives the maximum $100. Someone who spends less receives 5% of the amount actually spent: for example, $1,000 in spending earns $50, not the maximum.

Also, there’s no need to distribute spending across specific categories for this bonus: the 5% applies to all eligible purchases made during the promotional period.

When and How the Bonus Is Paid

According to the terms, the enhanced cash back becomes available for redemption approximately 5 months after account opening, once the 3-month spending period is complete and the calculation finalized.

Redemption then works like any regular cash back balance: via the Scotia mobile app or online banking, with a minimum of $25 to redeem at a time, as a statement credit or deposit into a Scotiabank account. Accumulated cash back never expires as long as the account remains active.

The 0.99% Balance Transfer Component

In addition to the cash back, the offer includes an introductory rate of 0.99% on balance transfers made during the first 9 months following account opening. A 2% transfer fee applies to the amount transferred.

Once the 9-month period ends, be careful because any remaining balance, including a balance from a transfer, moves to the regular rate of 22.99% applicable to cash advances. The regular rate on purchases is 20.99%.

This balance transfer component makes the card attractive for two profiles at once:

Both offers stack on the same account. Our balance transfer guide explains how to structure repayment before the end of a promotion like this.

After the Offer: Regular Cash Back by Category

Once the 3-month period ends, the card returns to its regular cash back rate, distributed by category:

The 1% rate applies up to a combined cap of $15,000 in eligible spending per year. Beyond this cap, the rate drops to 0.5% in these same categories.

If we take the example of a household that spends approximately $1,000 per month in these categories ($12,000 per year), the cap poses no practical problem.

No Annual Fee: What That Changes

The card remains fee-free, whether for the primary cardholder or for additional cards. This means that ALL of the cash back earned, whether from the offer or the regular rate, remains a net gain, without an annual fee amount reducing its value.

This is a clear advantage for someone who doesn’t have sufficient spending volume to justify an annual-fee card with a higher cash back rate.

Our full review of the Scotia Momentum^MD No-Fee Visa Card details its day-to-day performance once the offer ends.

Is This Offer Right for You?

This card offer may suit you if:

But it won’t suit you if:

To compare this card to other no-fee options or cards with more generous cash back depending on spending profile, consult our pages on the best cash back credit cards and the best no-fee credit cards, or use our credit card comparator to filter according to your own criteria.

Scotia Momentum^MD No-Fee Visa Card Offer: Frequently Asked Questions