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Scotia Momentum® VISA Infinite* Card Online Application



Scotia Momentum Cash Back

  • A full 4% cash back on gas station and grocery store purchases
  • A full 2% cash back on recurring payments and drug store purchases
  • A full 1% cash back on all other eligible purchases

  • Minimum credit limit: $5,000

  • Grace Period:
    Interest free at least 21 days

  • Annual interest Rate:
    19.99% on Purchases
    22.99% on Cash Advances, Balance Transfers

  • Annual Fee: $99

  • Minimum Annual Income Required:
    $60,000 individual, $100,000 household

  • Learn more about our Scotia Momentum VISA Infinite Card Learn more about our Scotia Momentum VISA Infinite Card Cash Back Program Details
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    Scotia Momentum® VISA Infinite* Cash Back Program

    Here's a smart way to manage your day-to-day purchases:

    • A full 4% cash back on all eligible gas station and grocery store purchases
    • A full 2% cash back on all eligible recurring payments and drug store purchases
    • A full 1% cash back on all other eligible purchases

    So you can shop at any eligible grocery store or gas station and earn 4% cash back on your everyday spending.

    Cash Back Program Terms and Conditions.

    HOW TO EARN A 4% CASH BACK RATE - You will earn 4% cash back on the first $25,000 you spend annually at gas stations and grocery stores. 4% cash back applies at merchants which are classified in the Visa Inc. (VISA) network as Grocery Stores & Supermarkets, Service Stations (with or without ancillary services), and Automated Fuel Dispensers (Merchant Codes: 5411, 5541 & 5542). Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by VISA in another manner, in which case this added benefit would not apply.

    HOW TO EARN A 2% CASH BACK RATE - You will earn 2% cash back on the first $25,000 you spend annually on recurring payments and drug store purchases. 2% cash back applies at merchants which are classified in the VISA network as Drug Stores & Pharmacies (Merchant Code: 5912) and Recurring Payments. Recurring payments are defined as payments made on a monthly or regular basis automatically billed by the merchant to your Scotia Momentum VISA Infinite card. Recurring payments are typically telecommunication, insurance, membership, subscriptions etc. purchases. Not all merchants offer recurring payments. (Please check with your merchant to see if they offer recurring payments on VISA cards.) Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by VISA in another manner, in which case this added benefit would not apply.

    HOW TO EARN A 1% CASH BACK RATE - You will earn 1% cash back on purchases made after you have reached the 4% and 2% $25,000 annual spend maximum and on all other eligible purchases made with the card.

    You will earn 5% cash back on the first $3,000 in purchases posted to your new account beginning on the account open date and ending three months after the account open date. You will earn regular cash back on purchases made after you have reached the 5% threshold / $3,000 in purchase in the first three months. The bonus cash back amount will be applied to your Scotia Momentum Visa Infinite account (the "Account") within 2-3 months after the three-month offer period ends provided your Account is open and in good standing. All other terms of the Cash Back Program Terms and Conditions that apply to your Account continue to apply during this promotional offer. Cash Back is not awarded for cash advances (including balance transfers, Scotia® Credit Card cheques or cash-like transactions), fees, interest, service/transaction charges, payments, or returns and other similar credits. Offer applies to new Accounts opened by April 30, 2017. Offer may be changed or extended and cannot be combined with any other offer. The introductory 1.99% interest rate applies to cash advances, balance transfers and Scotia® Credit Card Cheques only. This rate applies when the new Scotiabank credit card account ("Account") is opened and will then continue for 6 months from that date. After the promotional period, the 1.99% rate on any promotional balances (including that remain unpaid after the offer ends) will increase to the regular interest rate for cash advances, balance transfers and Scotia Credit Card Cheques on your Account. Rates and fees are subject to change without notice. Offer applies to new Accounts only that are opened by April 30, 2017. This offer cannot be used to transfer a balance from another Scotiabank account, or to make a payment or deposit to another Scotiabank account. Offer may be changed or extended and cannot be combined with any other offer.

    TM Trademark of The Bank of Nova Scotia.
    * Visa Int./Lic. User The Bank of Nova Scotia
    ® Registered trademark of The Bank of Nova Scotia

What You Should Expect

Before You Begin

Application Disclosure Statement
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Annual Interest Rate or Rates

Annual interest rates are in effect on the day the account is opened (whether or not a card is activated).

Promotional rate of 1.99% on cash advances**, balance transfers and Scotia® Credit Card Cheques, will apply on your first 6 monthly statements.

The promotional rate(s) will increase to the interest rate(s) that apply for that type of transaction, as identified below, following the expiry of the promotional period.

Purchases: 19.99%

Cash advances**, balance transfers and Scotia® Credit Card Cheques: 22.99%

Your preferred annual interest rates will increase to standard rates of 24.99% on purchases and 27.99% on cash advances, balance transfers and Scotia Credit Card Cheques if you do not make your minimum payment by the payment due date 2 or more times in any 12 month period. This will take effect in the third statement period following the missed payment that caused the rates to increase. These rates will remain in effect until you make your minimum payments by the payment due date for 12 consecutive months.

If your account is part of a Scotia® Total Equity Plan, these higher standard rates do not apply.

Interest-free Grace Period

21 days

You will benefit from an interest-free grace period of at least 21 days for new purchases± if you pay off your balance on your monthly statement in full by the payment due date. This grace period will be automatically extended to at least 25 days on your next monthly statement whenever you do not pay your balance in full by the payment due date. Upon paying your balance in full by the payment due date, this grace period will revert back to at least 21 days on your next monthly statement.

There is no interest-free grace period for cash advances, balance transfers and Scotia Credit Card Cheques.

Minimum Payment

Interest Charges + Fees + $10.00 plus any overdue or overlimit amount.

Your minimum payment will include Interest Charges on your monthly statement, plus cash advance fee(s), plus any dishonoured payment fees, plus any dishonoured Scotia Credit Card Cheque fees, plus $10.00.

In addition, amounts showing on your monthly statement as OVERDUE or OVERLIMIT must be paid immediately and will be added to the minimum payment.

Foreign Currency Conversion

2.50%

Transactions made in a foreign currency will be converted and posted to your account in Canadian currency. The exchange rate is determined by Visa Inc. on our behalf on the date that the transaction is settled with Visa Inc. This exchange rate may be different from the rate in effect on the transaction date. When the transaction is posted to your account, in addition to the exchange rate, you will be charged a foreign currency conversion mark-up equal to 2.50% for each foreign currency transaction. The mark-up applies to both debit and credit transactions.

For account payments and Scotia Credit Card Cheques, the exchange rate will be the posted rate charged to customers at any branch of The Bank of Nova Scotia on the date the transaction occurs. For any reversal of these transactions, the exchange rate will be determined in the same manner as of the date that the transaction is reversed.

Annual Fees

$99.00 for the primary cardmember card.
$30.00 for each additional card.
To be charged when the card is issued (regardless of activation) and will be billed to your first statement and once a year thereafter.

Other Fees

To be charged on the day the transaction occurs (unless otherwise indicated):

Cash advance fee for each cash advance:

  • processed by Scotiabank or any financial institution in Canada: $3.50
  • obtained at any Scotiabank Automated Banking Machine (ABM) in Canada: $3.50
  • obtained at any non-Scotiabank ABM in Canada displaying the Interac+ symbol: $3.50
  • obtained at any ABM outside of Canada: $7.50
  • processed by Scotiabank or any financial institution outside of Canada: $7.50
  • obtained at any Global ATM (ABM) Alliance Bank outside of Canada: $3.50
  • cash-like transaction fee: $4.00
  • balance transfer fee: $3.50 will apply to all balance transfers processed by Scotiabank

Promotional low rate fee: 3.00% (unless waived or reduced by us in the offer) of the amount of each transaction under a promotional low rate offer made to you (minimum fee of $3.50). A promotional rate means the rate is lower than your preferred annual interest rates. Promotional low rate offers may apply to cash advances, balance transfers or Scotia Credit Card Cheques. The exact promotional low rate fee will be disclosed to you at the time the offer is made.

Scotia Credit Card Cheque fee: $3.50 will apply to each transaction made using a Scotia Credit Card Cheque.

Dishonoured payment fee: $48.00. Fee is charged for each Credit Card payment dishonoured by your financial institution on the date the payment is returned/dishonoured.

Dishonoured Scotia Credit Card Cheque fee: $48.00. Fee is charged on the date the cheque is returned for each cheque which is returned due to insufficient credit available in your account.

Replacements: Each replacement sales draft, cash advance draft or monthly statement: $5.00.

Overlimit fee: $29.00. Fee is charged on the day your balance first exceeds your credit limit and then once per statement period (charged on the first day of the statement period) if your account remains overlimit from a previous statement period.

Scotia Total Equity Plan: If you select this real estate secured plan, additional fees and charges will apply related to the collateral mortgage security and registration. Additional information will be provided to you if you are interested in applying for the Credit Card account as part of this plan.

+Interac Inc. owner of the mark Interac. The Bank of Nova Scotia authorized user of the mark.


The Bank reserves the right to waive any fees or charges in its discretion.


All rates, fees and other terms are effective as of April 27, 2017 and are subject to change. For information on current interest rates and fees, please call 1-888-882-8958 or visit scotiabank.com.

 

±Annual fees, dishonoured payment fees, dishonoured Scotia Credit Card Cheque fees and overlimit fees are treated as purchases and the annual interest rate for purchases will apply to them. The interest-free grace period described above in this disclosure statement also applies to them.

 

**Cash advances: Cash advances include "cash-like transactions" which are monetary transactions posted to your account and include wire transfers, foreign currency, travellers cheques, money orders and gaming chips.

The Scotia Momentum VISA Infinite Card is a premium credit card. This means it can impose higher card acceptance costs on merchants.


® Registered trademark of The Bank of Nova Scotia
™ Trademarks of The Bank of Nova Scotia
* Trademark of Visa International Service Association and used under license.


 
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