Who this card is for
A good fit if you…
- Households that shop Costco Canada and still want Momentum cash back on the same Mastercard, because the Visa rungs will not go through at the warehouse.
- People who want cash back, not Scene+. Passport and Gold American Express are the Scene+ products; Momentum is the cash-back ladder.
- Applicants who want extra cards at no extra annual fee. Additional cards are $0.
- Anyone who pays in full. Purchases are 20.99% and cash advances are 22.99%. 1% cash back will not win against interest.
Skip it if you…
- Anyone who does not need Costco on this plastic. Momentum Visa pays a 2% everyday mix at $49 a year — a better earn story when the warehouse is not the constraint.
- Households that will clear an Infinite fee with 4% grocery and recurring bills. That is Momentum Visa Infinite. The current Infinite welcome is 15% cash back on the first $2,000 in purchases in the first 3 months, for accounts opened July 2 to November 1, 2026.
- Shoppers who wanted a higher category rate than 1% and do not need a Scotia Mastercard at Costco. Tangerine Money-Back is the $0 category Mastercard if Scotia branding is not the point.
- Scene+ collectors who wanted 6x at Sobeys. That is Scotiabank Gold American Express, not Momentum.
Pros and cons
Pros
- It is the Momentum product that Costco Canada will actually take. The Visa Infinite, Visa, and No-Fee Visa rungs cannot check out at the warehouse.
- 1% cash back covers eligible gas, grocery, and drugstore purchases (MCCs 5411, 5541, 5542, and 5912) and eligible recurring bill payments. “Grocery store” is already framed as 5411, not as a feeling.
- The annual fee is $0, and additional cards are $0. Momentum Visa is $49 a year, with each supplementary card at $15.
- You stay in cash back, not Scene+. If Scotia is already the bank and you dislike a movie-and-grocery points chart, that is the personality.
- 0.5% on everything else is printed, so Amazon and big-box spend do not fall to zero even if they miss the 1% list.
Cons
- 1% on gas, grocery, drugstore, and recurring bills, and 0.5% elsewhere, is a thin earn mix next to Momentum Visa’s 2% everyday stack at $49 a year. The fee is $0. The cost is the earn you leave on the table if Costco is not the point.
- There is no cash welcome bonus. The special offer is a 7.99% introductory interest rate on purchases for the first 6 months (20.99% after that), for new accounts opened October 31, 2025 to October 31, 2026. It excludes anyone who held a Scotiabank personal credit card in the past 2 years, and Scotiabank employees.
- Purchases are 20.99% and cash advances are 22.99%. The 7.99% purchase intro lasts six months. After that, this is not a cheap revolving rate.
- Cash back is deposited every November, not as a monthly statement credit.
- This is a cash-back Mastercard, not a travel-medical product.
Fees and value: is the annual fee worth it?
First-year snapshot (estimate)
- Annual fee
- $0
- Estimated welcome bonus value
- Not listed
- Bonus minus fee (estimate)
- —
This is a simple comparison of the estimated welcome-bonus value against the annual fee. It ignores rewards on spending, credits you have to remember to use, and interest if you carry a balance. Offers change — verify with the issuer.
The annual fee is $0, and additional cards are $0. There is no cash welcome bonus and no first-year fee story, because the fee is already $0.
The special offer is a 7.99% introductory interest rate on purchases for the first 6 months, then 20.99%, for new accounts opened October 31, 2025 to October 31, 2026. It excludes anyone who held a Scotiabank personal credit card in the past 2 years, and Scotiabank employees.
Ongoing value is $0 versus 1% on eligible gas, grocery, drugstore, and recurring bill payments and 0.5% on the rest, with cash back deposited every November. Do that math against Momentum Visa’s 2% mix at $49 a year, against Infinite’s 4% grocery and recurring pair after Infinite’s fee, and against Tangerine at $0 if you do not need this card at Costco.
Infinite’s current welcome is 15% cash back on the first $2,000 in purchases in the first 3 months, for accounts opened July 2 to November 1, 2026. This Mastercard does not match that.
A $0 fee does not make 1% a strong earn rate. Offers change.
Confirm the live terms on Scotiabank’s page. Pay in full.
Rewards and earn rates explained
Rewards program: Cash Back
This card pays cash back, not Scene+ points. Scotiabank lists 1% cash back on eligible gas station, grocery store, and drugstore purchases (Mastercard MCCs 5411, 5541, 5542, and 5912) and on eligible recurring bill payments, and 0.5% on all other eligible purchases.
Cash back is deposited every November. Grocery coding has the usual traps: a warehouse club may not be 5411 even when it feels like grocery, so Costco spend can still land at 0.5%. Momentum Visa pays 2% on a much wider everyday list, up to $25,000 a year in those categories, at $49 a year.
Infinite leads with 4% grocery and recurring. Momentum No-Fee Visa is also $0 for the primary card and for each additional card. Redeem cash back according to Momentum rules.
Put Costco here if you needed a Scotia Mastercard at the warehouse. Put the rest of the month on a higher-earning Momentum Visa, or on Tangerine, if the warehouse is not the constraint.
Welcome bonus: how to unlock it
7.99% introductory interest rate on purchases for the first 6 months (20.99% after that).
The published special offer is not a cash bonus. It is a 7.99% introductory interest rate on purchases for the first 6 months, then 20.99%, for new accounts opened October 31, 2025 to October 31, 2026.
It excludes anyone who held a Scotiabank personal credit card in the past 2 years, and Scotiabank employees. Do not copy Momentum Visa Infinite’s 15% cash back on the first $2,000 in purchases in the first 3 months (accounts opened July 2 to November 1, 2026) onto this Mastercard.
Read the live terms before you product-change from Passport or Gold American Express and expect a gift. The intro rate is not a reason to revolve past month six: purchases then sit at 20.99%, and cash advances are 22.99%.
Offers change. Confirm on Scotiabank’s page.
Welcome bonus eligibility: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for the Offer.
FAQ
Is the Scotia Momentum Mastercard credit card worth it in 2026?
It is worth it mainly when you need Momentum cash back on a Mastercard Costco will take, and you accept 1% on gas, grocery, drugstore, and recurring bills and 0.5% elsewhere at a $0 annual fee. It is not worth it as a 2% Visa substitute, a Scene+ card, or a card you revolve at 20.99%.
Momentum Mastercard vs Momentum Visa vs Infinite vs No-Fee Visa?
This Mastercard is $0 a year, with additional cards at $0: 1% on grocery, gas, drugstore, and eligible recurring bill payments, and 0.5% elsewhere. Momentum Visa is $49 a year ($15 for each supplementary card) with a 2% everyday mix up to $25,000 a year in those categories. Infinite leads with 4% grocery and recurring at a Visa Infinite fee. Its current welcome is 15% cash back on the first $2,000 in the first 3 months, for accounts opened July 2 to November 1, 2026. No-Fee Visa is also $0 for the primary card and for each additional card.
Choose this Mastercard if Costco is the constraint. Choose the Visa rungs if the warehouse is not.
Can I use this card at Costco?
Costco Canada accepts Mastercard, not Visa. This product is a Mastercard, so it can go through at the warehouse — but warehouse spend may still miss grocery MCC 5411 and pay 0.5%. The Momentum Visa rungs will not check out at Costco at all.
Does the 1% rate include recurring bills?
Yes. Scotiabank lists 1% cash back on eligible gas station, grocery store, and drugstore purchases (Mastercard MCCs 5411, 5541, 5542, and 5912) and on eligible recurring bill payments, and 0.5% on all other eligible purchases. Cash back is deposited every November. Offers change. Confirm the live list on Scotiabank’s page before you park a bill on this card.
Does this card charge foreign-exchange fees?
Most Canadian cash-back Mastercards add a foreign-conversion fee on foreign-currency purchases. Momentum is a domestic cash-back card, not Passport. For overseas spend, compare Scotiabank Passport Visa Infinite, and confirm Scotiabank’s current FX rate in the agreement.
Compare related cards and guides
More Canadian credit card lists that match this product, plus a few cards people usually compare it with.
- Scotia Momentum Visa Card review · Scotiabank · $49 annual fee
- Scotia Momentum Visa Infinite Card review · Scotiabank · $120 annual fee
- Scotia Momentum No-Fee Visa Card review · Scotiabank · $0 annual fee
