Scotia Momentum for Business Visa Credit Card Review



Annual Fee


Annual Rewards


Intro Offer


Annual fee


Annual rewards


Intro offer


  • Competitive cash back: 3% on gas, dining, office supplies, and recurring payments.
  • Discretionary credit limit: Customizable for individual employees.
  • Comprehensive insurance coverage: Including travel, purchase protection, and extended warranty.
  • Optional VISA Checkout account: Simplified and secure online payments.
  • No minimum income requirement: Accessible to various business sizes.
  • Manageable annual fee: $49 for the primary card and $29 for each additional card.


  • Annual fee: Not optimal for businesses that value fee-free cards.
  • No welcome bonus: Lacks the initial incentive compared to other business credit cards.
  • Limited cash back categories: Could be restrictive for some types of businesses.
  • 1% cash back: Applies to all other purchases outside of the 3% categories.
  • Foreign transaction fee: 2.5%, which can be costly for businesses with international transactions.
  • No travel rewards: Businesses focused on travel benefits may find this card underwhelming.

How you earn rewards

Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With Scotia Momentum for Business Visa Credit Card, here’s how you earn rewards:

Restaurants / Delivery3%
All Other Spend1%

How much your rewards are worth

The dollar value of your rewards depends on the specific Scotia rewards program and what you choose to redeem your points for.

For Scotia Momentum for Business Visa Credit Card in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:

Redemption methodAnnual rewards
Apply to statement credit$6.53

Calculating your annual rewards

$24,000.00 annual spending x $1.65% return on spending = $396.00 annual rewards

$396.00 annual rewards – $79.00 annual fee = $$317.00 net annual rewards

Details and eligibility

Do I qualify?
Estimated Credit Score760 – 900
Interest Rates
Cash Advance22.9%
Balance Transfer22.9%
Annual Fee$79.00
Extra Card Fee$0
Card typeVisa

Insurance coverage

Extended Warranty1 year
Purchase Protection90 days
Emergency Medical Term8 days
Emergency Medical over 653 days
Rental Car Theft & DamageYes

Scotia Momentum for Business Visa Credit Card Review

The Scotia Momentum for Business Visa Credit Card is designed for business owners who are looking to optimize their spending in various categories while earning cash back rewards. This review will discuss the earning potential with the card, list four major benefits, two drawbacks, and provide any other relevant information.

1. Earning potential with the card: The Scotia Momentum for Business Visa Credit Card offers cash back on a tiered earning system. Cardholders can earn 3% cash back on eligible gas station, office supply store purchases, and recurring bill payments. In addition, cardholders receive 1% cash back on all other eligible purchases made with the card. This tiered reward system allows businesses to earn more cash back on their most common expenses.

2. Benefit 1: The first major advantage of this card is the cash flow management tools provided by Scotiabank. These tools aim to help business owners manage their expenses more effectively by providing customizable spending limits for employees and giving access to detailed transaction reports.

3. Benefit 2: The second major advantage of this card is the option to add supplementary cards for employees at no additional cost. This allows businesses to consolidate their expenses under one account, streamline, and track spending in a more organized manner.

4. Benefit 3: The third major advantage of this card is the Visa SavingsEdge program, enabling cardholders to access discounts from participating merchants automatically when using their card. Businesses can save on travel, dining, and other experiences, resulting in increased savings

5. Benefit 4: The fourth major advantage of this card is the comprehensive insurance package included, offering cardholders travel emergency medical insurance, rental car collision damage waiver insurance, and purchase protection. This coverage adds a layer of security and peace of mind for businesses making various purchases or traveling.

6. Drawback 1: A significant drawback of this card is the annual fee of $79 for the primary cardholder and $49 for each additional authorized user after the first. This cost may not be ideal for some small businesses, making it important for owners to weigh the benefits against the expense.

7. Drawback 2: Another significant drawback is the requirement of a minimum annual income of $75,000 to qualify for this card. This requirement can be a barrier for startups or small businesses who may not meet this income threshold, limiting their access to the Scotia Momentum for Business Visa Credit Card.

In conclusion, the Scotia Momentum for Business Visa offers numerous benefits for businesses, including tiered cash back rewards and valuable management tools, but potential users should also consider its drawbacks, such as the required annual income and card fees. Overall, this card may be a valuable option for companies looking to earn cash back on their regular expenses and access valuable resources to manage their finances more efficiently.

Interested in other credit cards? Canadians that like the Scotia Momentum for Business Visa Credit Card credit card also like the Visa Desjardins US Business Card. If you’re looking for other options you should consider the BMO World Elite Business Mastercard, and the RBC Avion Visa Infinite Business.


The Scotia Momentum for Business Visa Credit Card is primarily a cash back card, which does not use a points-based rewards system. Cardholders earn cash back on their purchases at varying rates, depending on the category. The cash back is provided as a credit on the account, which can be redeemed any time after the minimum redemption amount of $25 is accumulated, and can be used to offset the card balance. As a result, there’s no catalog of products or services to redeem points. Instead, the cash back earned on this card offers greater flexibility, as it allows cardholders to use the rewards for a wide range of business expenses or investments, according to their preferences.

The Scotia Momentum for Business Visa Credit Card imposes a foreign transaction fee on purchases made outside of Canada. When using this card for international transactions, cardholders will be charged a fee of 2.5% of the transaction amount, converted to Canadian dollars.

The Scotia Momentum for Business Visa Credit Card does not have a minimum income requirement for applicants. This flexibility allows more business owners to access the benefits and features of this particular credit card without having to meet a specific income threshold.

Key benefits

  • Earn 3% cash back on gas, office supplies, dining, and recurring bill payments
  • 1% cash back rewards on all other eligible purchases
  • Annual fee of $49 for primary cardholder, $29 for each supplementary card
  • Comprehensive insurance package including travel accident, auto rental, and purchase protection
  • Customizable credit limits for employee cards
  • VISA Checkout for faster, secure online transactions
  • No minimum income requirement for optimal accessibility
  • Simplified expense management tools for businesses
  • 21-day interest-free grace period on purchases
  • Fraud detection and zero liability protection
  • Access to VISA Infinite benefits for enhanced travel experiences

About The Author