Scotiabank Momentum No-Fee Visa

Overview

The Scotiabank Momentum No-Fee Visa is Scotiabank's entry-level cashback card — a no-annual-fee Visa that earns 1% cashback on groceries, gas, electric vehicle charging, transit, rideshares, food delivery, drugstores and pharmacies, and recurring bill payments, and 0.5% cashback on all other eligible purchases. Issued by Scotiabank on the Visa network with no annual fee, the card is built for Canadians who want to earn a small return on everyday spending without committing to an annual fee. The Visa network means broad acceptance across Canada and internationally.

Who this card is for

This card suits Canadians who are newer to credit rewards, want a no-cost card to pair alongside a primary rewards card, or spend at a volume where paying even a $49 CAD annual fee would outpace the return. There's a minimum income requirement of $12,000 CAD. The cashback tiers are straightforward — the same everyday categories that appear on the Scotiabank Momentum Visa earn at 1% here, and there's nothing to track. If you want a simple default card that covers everything at no cost, this fits that role.

Key benefits

The 1% rate covers a broad set of everyday Canadian spending categories: groceries, gas and EV charging, transit, rideshares, food delivery, drugstores, and recurring bills. That last category — recurring bills including phone, internet, and streaming subscriptions — earns at 1% automatically every month, which adds up quietly in the background.

Cash back can now be redeemed anytime through the Scotia mobile app when your balance reaches $25, rather than waiting for an annual payout. That flexibility makes the small cashback amounts more accessible and useful. No annual fee means any return is net positive — there's no breakeven point to worry about.

A welcome bonus has historically been available for new cardmembers — check the Scotiabank website for any current promotion.

Potential drawbacks

The 0.5% rate on non-bonus-category spending is below average — many no-fee cards offer 1% on everything. The 1% rate on bonus categories, while useful, is half the rate of the Scotiabank Momentum Visa at $49 CAD annually. For anyone spending more than $500 CAD per month combined on groceries, gas, and recurring bills, the Momentum Visa's 2% rate at $49 CAD annual fee pays for itself relatively quickly. This card won't supercharge your cashback — it's more of a lightweight option for light-spend situations.

How it compares

The Scotiabank Momentum Visa charges $49 CAD annually and earns 2% on the same bonus categories — if you spend $3,500 CAD or more across groceries, gas, and recurring bills in a year, the fee card pays for itself versus the no-fee version. For someone not yet at that spend level, this no-fee card is the sensible starting point. The RBC Cash Back Mastercard is a comparable no-fee cashback card on the Mastercard network, earning 2% on groceries (up to $6,000 CAD per year) and 1% on everything else — worth comparing if Mastercard acceptance matters in your regular spending locations.

Bottom line

A practical no-cost cashback card for Canadians who want to earn a small return on everyday spending without paying anything. It won't maximise your rewards, but for a free card with no minimum spend, it delivers reasonable value for the grocery, gas, and recurring bill categories that define everyday Canadian spending.