Scotia Momentum VISA Infinite Card Evaluate

Though the Scotia Momentum Visa Infinite Card continues to be top-of-the-line money again bank cards in Canada, it’s misplaced a few of its enchantment through the years. That’s to not say this card is now not good. It’s simply that different playing cards now provide higher advantages or incomes charges.

What’s attention-grabbing is that this card nonetheless has an unimaginable incomes price, and a number of the finest journey and buy insurance coverage out there, so it’s nonetheless a possible keeper. Learn my Scotia Momentum Visa Infinite evaluation now to seek out out why it’s top-of-the-line Scotiabank bank cards in Canada.

Welcome bonus and earn price

The Scotia Momentum Visa Infinite Card sometimes affords 10% money again on all purchases for the primary three months (as much as $2,000 in spending). As well as, the annual price of $120 is often waived for the primary yr as a part of the welcome bonus.

As for the incomes price, you’ll get 4% money again on groceries, recurring payments, and subscription purchases, 2% on fuel and transit purchases, and 1% on all different purchases. Though you get a excessive earn price for a number of classes, there may be an annual spending cap of. $25,000 As soon as you attain that quantity, your incomes price drops to 1%. 

Advantages and perks

Like many money again bank cards, the Scotia Momentum Visa Infinite doesn’t offer you a ton of perks. That stated, you do get some nice insurance coverage and Visa Infinite advantages.

Cellular system insurance coverage

If you cost the total worth of a cellular system (cellphone or pill) to your Scotia Momentum Visa Infinite Card, you’re lined for as much as $1,000 from loss, theft, or harm. Be aware that when you ever must make a declare, depreciation applies.

Journey insurance coverage

• Journey medical – $1,000,000 protection as much as 15 days
• Journey interruption – $2,000 per insured individual (max $10,000 per journey)
• Journey cancellation – $1,500 per insured individual (max $10,000 per journey)
• Flight delay – $500 per journey for eligible bills for all insured travellers after a delay of 4 hours
• Delayed and misplaced baggage – $500 per journey for eligible bills for all insured travellers after a delay of 4 hours
• Journey accident – $500,000 protecting widespread carriers together with airplanes, cruise ships, trains or buses
• Rental automotive collision / loss harm insurance coverage – $65,000/48 days

For a money again card, the included journey insurance coverage is sort of spectacular. You solely must cost 75% of your journey prices to your card for the journey cancellation and journey interruption insurance coverage to use. Nevertheless, for rental vehicles, you want to cost the total quantity. There isn’t any lodge/motel housebreaking insurance coverage included.

Buy insurance coverage

• Buy safety – 90 days
• Prolonged guarantee – As much as one further yr

When charging your purchases to your Scotia Momentum Visa Infinite Card, you’re lined for 90 days from loss, theft, and harm, because of the included buy safety. As well as, you get an prolonged guarantee on purchases for as much as one further yr.

Concierge service

As a Visa Infinite cardholder, you get entry to a private concierge. Obtainable 24/7, these concierges are ready that will help you with dinner reservations, buying, and extra. Be aware that concierge can’t make miracles occur, so be sensible about your requests.

Save on automotive leases

When renting a automotive at collaborating AVIS and Price range places in Canada and the U.S., you’ll stand up to 25% off the bottom price when paying along with your Scotia Momentum Visa Infinite Card.

Visa Infinite Lodge Assortment

Visa has unique offers with lots of of accommodations the place you may get a free room improve and Wi-Fi whenever you e-book straight with them.

Visa Infinite Eating and Wine Nation program

All year long, Scotiabank affords cardholders tickets to unique eating occasions the place you’ll be able to meet movie star cooks and extra.

When your Scotiabank money again is paid out

Scotiabank pays out all money again earned in November. Whereas this will likely sound good because it offers you some additional money to work with proper earlier than the vacations, it lacks flexibility. Many different money again packages now mean you can money out when you have got a minimal quantity. That provides you extra choices.

Scotia Momentum VISA Infinite eligibility

• You’re a Canadian citizen or everlasting resident
• You’re no less than the age of majority in your province or territory
• You’ve gotten a minimal annual private gross revenue of $60,000
• You haven’t declared chapter up to now 7 years
• Your private home handle matches your credit score report residence handle

Though the Scotia Momentum VISA Infinite Card doesn’t have a proper minimal credit score rating requirement, a rating of no less than 700 is really useful.

How the Scotia Momentum Visa Infinite Card compares

Scotia Momentum Visa Infinite Card vs. American Specific Cobalt Card

A pure comparability is the American Specific Cobalt Card because it has an analogous incomes price. The Cobalt Card offers you 5 American Specific Membership Rewards factors per $1 spent on eats and drinks (together with grocery shops), 3 factors on widespread streaming companies, 2 factors on journey and transit, and 1 level on all different purchases. Since you’ll be able to redeem 1,000 factors for a $10 assertion credit score, that is basically a hybrid money again/journey rewards card.

Admittedly, the Scotia Momentum Visa Infinite Card has higher insurance coverage, however American Specific Membership Rewards is a greater program than Scene+. That’s as a result of you’ll be able to switch your Membership Rewards factors to different loyalty packages similar to Aeroplan and Marriott Bonvoy. Relying on the redemption, you would get an elevated worth on your factors.

Scotia Momentum Visa Infinite Card vs. BMO CashBack® World Elite®* Mastercard®*

The BMO CashBack® World Elite®* Mastercard®* additionally has a powerful incomes price of 5% money again on groceries, 4% on transportation, 3% on fuel and electrical car charging, 2% on recurring payments, and 1% on all different purchases. The catch is, there are month-to-month caps of $500 on groceries, $300 on transit, $300 on fuel and electrical car charging, and $500 on recurring payments. If you happen to sometimes spend greater than that, then the Scotiabank is a more sensible choice because it has a yearly cap, not a month-to-month one.

Scotia Momentum Visa Infinite Card vs. Tangerine World Mastercard

Of the perfect money again bank cards in Canada, one different card value evaluating is the Tangerine World Mastercard. With the Tangerine card, you’ll be able to select as much as three classes that can earn you 2% money again, whereas all different purchases earn you 0.5% money again. That is clearly decrease than what the Scotia Momentum Visa Infinite Card affords, nevertheless it has no annual price, which is able to enchantment to many individuals. 

Last ideas

It ought to be fairly apparent that my Scotia Momentum VISA Infinite evaluation is constructive. It’s top-of-the-line no-fee money again card out there and I’d argue it’s a superb alternative as a “journey rewards” card. Though the money again is simple to redeem, it’s solely paid out every year in November as a press release credit score or deposited straight into your private chequing or financial savings account when you financial institution with Scotia.