Who this card is for
A good fit if you…
- Households that want Momentum cash back on a Visa — grocery, gas, transit, delivery, drugstore, and bills — and whose bonus spend will stay under the annual 1% cap.
- Applicants who meet the low income figure in eligibility and have not held a Scotiabank personal credit card in the past two years if they care about the 5% welcome window.
- People who want extra cards at no extra annual fee. The issuer currently lists additional cards at $0.
- Anyone who pays in full. One percent cash back will not survive the purchase rate.
Skip it if you…
- Anyone who read “No-Fee” and wanted a $0 card. Trust the fee table. If our $49 figure is still live, Tangerine Money-Back is the actual $0 category card.
- Shoppers who can use the Momentum Visa instead. That sibling currently lists a 2% everyday mix on a similar stack, at a fee in the same neighbourhood — a better earn story if both prices are real.
- Households that will clear an Infinite fee with 4% grocery and recurring bills. That is Momentum Visa Infinite.
- Anyone who held a Scotiabank personal credit card in the past two years and is applying only for the 5% welcome. Current eligibility excludes current and former primary or secondary cardholders and product-changers.
Pros and cons
Pros
- 1% on a wide everyday list — grocery, gas, EV, transit, rideshare, food delivery, drugstores, and recurring bills — is a broader bonus stack than a grocery-only 1% card.
- The current welcome offer pays 5% cash back on a capped slice of purchases in the first three months, inside a named offer window — a simple cash bonus, not a points estimate.
- Additional cards currently show $0, which Infinite does not always match.
- The income bar in the eligibility text is modest next to Visa Infinite products.
- Visa acceptance is straightforward at Canadian merchants that still skip American Express.
Cons
- The name says No-Fee; the annual fee is currently listed at $49. That is the product’s first problem, and it is a listing-versus-nickname issue you should confirm on Scotiabank’s page before you apply for “free.”
- After you hit the annual spend cap on 1% categories, those purchases drop to 0.5% for the rest of the year, and everything outside the list is already 0.5%.
- If the Momentum Visa still pays 2% on a similar stack at a similar fee, this “No-Fee” card is the worse earn mix at the same kind of price.
- The two-year Scotiabank-card exclusion is among the strictest of the cards we track. A Passport or Gold Amex in the last 24 months can kill the 5% offer.
- Check the issuer’s site for current insurance coverage. This is a cash-back Visa, 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
- up to $100
- Bonus minus fee (estimate)
- $100
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.
Use the fee table, not the product nickname. The issuer currently lists a $49 annual fee on a card still branded No-Fee, with extra cards at $0.
The first-year snapshot compares estimated welcome-bonus value with that headline fee. Year one can look acceptable if you are new to Scotiabank cards and you hit the 5% cap in months one to three.
Year two is $49 versus 1% on capped everyday categories and 0.5% on the rest. Do that math against Tangerine at $0 and against the Momentum Visa’s 2% stack at whatever fee that card currently lists.
If “No-Fee” on Scotiabank’s live page is actually $0 again, this review will look harsh — verify before you apply. Offers change; the detailed welcome text currently names an offer window.
Pay in full.
Rewards and earn rates explained
Rewards program: Cash Back
This card pays cash back, not Scene+ points. The current detailed features describe 1% cash back on eligible grocery, gas, EV charging, transit, rideshare, food delivery, drugstore and pharmacy, and recurring bill payments, up to an annual spend limit on that accelerated list, then 0.5% after the cap and on all other eligible purchases.
Recurring means the merchant flags the charge as recurring. Grocery coding has the usual traps: a warehouse club or a restaurant inside a grocer may not count.
Redeem cash back according to Momentum rules. If you want 2% on a similar everyday mix, that is the Momentum Visa, not this card.
If you want 4% grocery and recurring, that is Momentum Infinite. If you want Scene+ at Sobeys, that is a Scotia Amex, not Momentum.
Welcome bonus: how to unlock it
Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases), plus a 0.99% introductory interest rate on balance transfers for the first 9 months
The current offer pays 5% cash back on up to a listed amount of eligible purchases in the first three months, marketed as an “up to” cash figure, for accounts opened inside a named offer window. Eligibility is strict: current or former primary or secondary Scotiabank personal cardholders in the past two years, including people who switched from an existing Scotiabank personal card, are not eligible.
That catches almost everyone who already has Passport, Gold Amex, Scene+ Visa, or another Momentum. Hit the 5% cap with grocery and bills you would pay anyway.
Do not product-change into this card and expect the bonus.
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 switched to an existing Scotiabank personal credit card are not eligible for the Offer
FAQ
Is the Scotia Momentum No-Fee Visa Card actually no-fee?
Not currently listed. The fee table lists a $49 annual fee and the detail line repeats that figure. The product name is leftover branding. Confirm the live price on Scotiabank’s page; if it is $0 again, the nickname finally matches.
Is the Scotia Momentum No-Fee Visa Card worth it in 2026?
It is worth it only if the live fee is truly $0, or if 1% on that wide list still beats your alternatives after $49., the Momentum Visa’s 2% mix and Tangerine’s $0 categories are the comparisons that usually win.
Momentum No-Fee Visa vs Scotia Momentum Visa Card?
The Momentum Visa currently lists a 2% mix on groceries, delivery, drugstores, gas, transit, recurring bills, and streaming, with 1% elsewhere, at a fee in the same range as this card. This card currently lists 1% on a capped list and 0.5% else. Choose the Momentum Visa if both fees are real. Choose this card only if Scotiabank’s live No-Fee price is actually $0.
Momentum No-Fee vs Momentum Visa Infinite?
Infinite currently leads with 4% grocery and recurring payments at a Visa Infinite fee (with a first-year waiver on that card’s current offer). This card is the 1% capped product. Choose Infinite if those two buckets are large and you meet Infinite income. Choose this card if you wanted the bottom Momentum rung — after you check the live fee.
Does this card charge foreign-exchange fees?
Most Canadian cash-back Visas 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
- Tangerine Money-Back Credit Card review · Tangerine · $0 annual fee
