Apply and get approved for a Scotiabank Momentum® No-Fee Visa* Card & Get $50 in WagJag Credit Free**!

• Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).¹ Plus get a 7.99% introductory interest rate on everyday purchases for the first 6 months (19.99% after that; annual fee of $0)¹
• 1% Cash back on all eligible gas station, grocery store, drug store purchases and recurring payments.² Plus earn 0.5% cash back on all other eligible purchases.²
• Make the most of your card by consolidating all of your recurring payments and turning them into cash back rewards! 
• Add an additional Supplementary Cardholder to your Scotia Momentum® No-Fee Visa card Account and get an additional card for a friend or family member.³
• As a Scotia Momentum No-Fee Visa Cardholder, you can save up to 25% off base rates at participating AVIS and Budget car rental locations in Canada and the U.S. when you pay with your Scotia Momentum No-Fee Visa card. 

** To qualify, certain conditions must be met. Offer ends July 1, 2021. Visit www.scotiabank.com for full terms. 

* Visa Int./Licensed User.

1  Offer Description and Conditions: The 5% Cash Back and Introductory 7.99% Rate Offer (the “Offer”) applies only to new Scotia Momentum No-Fee Visa credit card accounts (“Accounts”) that are opened by July 1, 2021 and is subject to the below terms and conditions.  All other terms and conditions of the Program Terms continue to apply. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.

Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer.

5% Cash Back Offer Conditions: You will earn 5% cash back on the first $2,000 in eligible purchases you spend on your new Account within the first 3 months of the Account open date (the “Promotional Period”). Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. After the Promotional Period, you will earn regular cash back on eligible purchases at the regular cash back rate (the “Cash Back Program Rate”) described in the Scotia Momentum No-Fee Visa Cash Back Program Terms and Conditions (the “Program Terms”).  The 5% cash back rate for any category is made up of the sum of: (i) the regular Cash Back Program Rate (variable by categories as set out under the Program Terms); and (ii) a “Cash Back Bonus Rate”.

Cash back earned under this Offer will be credited to your Account in 2 instalments so long as your Account is open and in good standing at time of payout of each:

1. Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within 7 months from the Account open date; and

2. Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under the Program Terms.

The Account is considered in good standing if it is not past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.

EXAMPLE: If the Regular Cash Back Program Rate for the Groceries and Recurring Payments category is 1% then the Cash Back Bonus Rate will be 4% for that category so that you will earn a total of 5% on the amount of all eligible everyday purchases in that category during the Promotional Period. If you make $2,000 in eligible everyday purchases in the Groceries and Recurring Payments category, your cash back earnings will be credited to your Account as follows

(1) the Cash Back Bonus earnings of $80 (4% x $2,000)  (which will not be tracked on your monthly statements), will be credited to your Account within 7 months from the Account open date, and

(2) the Regular Cash Back earnings of $20 (1% x $2,000) (which will be tracked on your monthly statements), will be credited to your Account as per the regular cash back payment schedule (i.e., November).

Introductory 7.99% Rate Offer Conditions: The introductory 7.99% interest rate applies only to eligible purchases subject to the conditions below. This rate applies when the new Account is opened by May 2, 2021 and will continue for 6 months from date of Account opening (the “Promotional Period”).

After the Promotional Period, purchase balances at the promotional rate of 7.99% (including any unpaid balances) will increase to the preferred interest rate for purchases (currently 19.99%).  If you don’t pay the minimum payment on your Account by the payment due date on your statement, two times in any consecutive 12-month period, you will lose the benefit of this promotional rate Offer and the interest rates that apply on any unpaid balance and purchases will increase to the standard annual interest rates that apply to your Account (currently 24.99% on purchases and 27.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions)).  Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges.

In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.

Rates and Fees: There is currently no annual fee for the primary card and no fee for each  additional supplementary card. The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). All rates, fees, features and benefits are subject to change.  

2 You will earn 1% cash back on your annual spend on gas station, grocery store and drug store purchases and on recurring payments. 1% cash back applies at merchants which are classified in the Visa Inc. (Visa) network as Grocery Stores & Supermarkets, Drug Stores & Pharmacies, Service Stations (with or without ancillary services), Automated Fuel Dispensers and Recurring Payments (Merchant Codes: 5411, 5541, 5542 & 5912). Recurring payments are defined as payments made on a monthly or regular basis automatically billed by the merchant to your Scotia Momentum No-Fee Visa 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. You will earn 0.5% cash back on all other eligible purchases made with the card. Purchase returns, payments, cash advances, balance transfers, Scotia® Credit Card Cheques, credit vouchers, card fees, interest charges or service/transaction charges do not qualify for cash back.

3 The Primary Cardholder on the Scotiabank Momentum Visa Card Account (the “Account”) is responsible for all charges to the Account including those made by the additional Supplementary Cardholder.

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