Scotia Momentum No-Fee Visa Card Offer: Up to $100 Cash Back
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The Scotia Momentum® 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.
- Annual fee
- $0
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$100Total$100Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $100
- Welcome offer+ 0.99% introductory rate on balance transfers for the first nine monthsAfter $2,000 in 3 months
- Up to $100 cash back
- Ends Nov 1, 2026
Apply Now
on Scotiabank's website
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:
| Parameter | Detail |
|---|---|
| Enhanced cash back rate | 5% on eligible purchases |
| Eligible spending cap | $2,000 total |
| Spending window | 3 months following account opening |
| Maximum cash back | $100 (5% of $2,000) |
| Account eligibility window | Opening between July 2, 2026 and November 1, 2026 |
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:
- someone who wants cash back on everyday spending;
- someone who carries a balance elsewhere and wants to temporarily reduce their interest.
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:
| Category | Regular Rate |
|---|---|
| Grocery, pharmacies, meal delivery, meal kit subscriptions | 1 % |
| Gas, electric vehicle charging, public transit, ridesharing | 1 % |
| Recurring bills and streaming subscriptions | 1 % |
| All other eligible spending | 0.5% |
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® 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:
- You want a first cash back card with no annual fee to monitor.
- You want to consolidate approximately $2,000 in everyday purchases on the card during the first 3 months to earn the maximum $100.
- You carry a balance elsewhere and want to take advantage of the 0.99% rate to pay it off over 9 months at lower cost.
But it won’t suit you if:
- You spend heavily on groceries and gas each month: an annual-fee card with a higher cash back rate in these categories may earn more in the long run.
- You don’t expect to reach $2,000 in spending within the first 3 months: the cash back will be proportionally smaller.
- The offer expires after November 1, 2026: an application submitted after this date will not provide access to it.
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® No-Fee Visa* Card
The Scotia Momentum No-Fee Visa Card is an excellent cash back credit card in Canada. Right now, you can earn 5% cash back on all your purchases for the first three months (on up to $2,000 in total purchases).
With the Scotia Momentum No-Fee Visa Card, you get:
- 1% cash back on purchases at grocery stores and drugstores, and on food delivery and meal kit subscriptions
- 1% cash back on gas, electric vehicle charging and public transit, such as bus, taxi and rideshare trips
- 1% cash back on eligible recurring bill payments, such as utilities and gym memberships
- 1% cash back on eligible subscriptions, such as video or music streaming services
- 0.5% cash back on all other eligible purchases
It’s an excellent no-fee Visa credit card for earning cash back. Also note that you can redeem your cash back at any time (your cash back balance must be at least $25).
Plus, you can take advantage of an introductory rate of 0.99% on balance transfers for the first nine months (2% fee per cash advance).
- Annual fee
- $0
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$100Total$100Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $100
- Welcome offer+ 0.99% introductory rate on balance transfers for the first nine monthsAfter $2,000 in 3 months
- Up to $100 cash back
- Ends Nov 1, 2026
Apply Now
on Scotiabank's website
Scotia Momentum® No-Fee Visa Card Offer: Frequently Asked Questions
What is the current offer on this card?
5% cash back on the first $2,000 in purchases within the first 3 months (maximum $100), plus a rate of 0.99% on balance transfers for 9 months.
Until when is the offer valid?
For accounts opened until November 1, 2026. Confirm the exact date on scotiabank.com before submitting an application, since this offer has a specific end date.
When do you receive the $100 cash back?
The enhanced cash back becomes available for redemption approximately 5 months after account opening, once the 3-month spending period is complete.
Are there balance transfer fees?
Yes, a 2% fee applies to the amount transferred, in addition to the introductory rate of 0.99% for 9 months.
What does the card earn after the offer ends?
1% on groceries, pharmacies, meal delivery, gas, public transit, and recurring bills, up to $15,000 in annual spending, then 0.5% on these categories and all other purchases.
Does the card have an annual fee?
No, neither for the primary card nor for additional cards.
