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.

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The Scotia Momentum for Business Visa Credit Card has earned a 3.06 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).




Interest rates




The highest scoring categories for the Scotia Momentum for Business Visa Credit Card are rewards and interest.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the Scotia Momentum for Business Visa Credit Card the most important factors for scoring this card are its rewards and interest.


With the Scotia Momentum for Business Visa Credit Card, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Specific Stores1%
All Other Spend1%

Calculating your annual rewards

We estimate that spending $2,000 per month with the Scotia Momentum for Business Visa Credit Card would earn $420 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

All Other Spend$150

Our study investigating the value found that each dollar spent on the Scotia Momentum for Business Visa Credit Card is worth up to $0.02, depending on how you redeem.

This $420 in rewards value puts the Scotia Momentum for Business Visa Credit Card in the top 40% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the Scotia Momentum for Business Visa Credit Card earns $420 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

SpendThis CardAverage
Above, we’ve calculated the earn rate for the Scotia Momentum for Business Visa Credit Card for every spend category and compared it to the average for all Canadian credit cards.
Redemption methodAnnual rewards
Apply to statement credit$693

For an annual spend of $24,000, we estimated annual rewards value at up to $420.

That’s equivalent to a 1.75% return on spending.

The Scotia Momentum for Business Visa Credit Card has an annual fee of $79. After deducting this, we predicted net annual rewards of $341.

This puts it in the top 40% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.


The Scotia Momentum for Business Visa Credit Card has a $79 annual fee.

The average card charges $85. So, the Scotia Momentum for Business Visa Credit Card is in the top 50% of cards based on the cost of the annual fee.


We manually review the perks of each credit card to determine how they compare to other cards.

The Scotia Momentum for Business Visa Credit Card scored a 0.6 out of 5 for perks, putting it in the bottom 20% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Cash Advance22.99%
Balance Transfer22.99%

The average (median) credit card has a purchase interest rate of 19.99% and so the Scotia Momentum for Business Visa Credit Card charges {{purchase_interest_diff}} than the average.

For cash advances it costs 22.99% compared to the average of 19.96%.

Testing the Scotia Momentum for Business Visa Credit Card with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

InsuranceThis CardAverage
Extended Warranty1 year1 year
Purchase Protection90 days90 days
Emergency Medical Term8 days15 days
Emergency Medical over 653 days4 days
Rental Car Theft & DamageYesNo

We scored it 0.0 out of 5 for insurance.

It offers 5 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score760 – 900
Personal Income$0
Household Income$0
Annual Fee$79
Extra Card Fee$0
Card typeVisa

We scored it 2.5 out of 5 for approval.

We predict that you will require a credit score of at least 760 to qualify for the Scotia Momentum for Business Visa Credit Card, while the average card requires 652 to qualify.

This puts it in the top top 10% of cards by approval difficulty.

The personal income requirements are $0, while the average card requires $23,896.

This puts it in the top 50% of cards by the income required to qualify.

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.

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.


  1. Cash Flow Management Tools: 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.
  2. No Cost Supplementary Cards: 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.
  3. Visa Savings Edge Program: 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.
  4. Comprehensive Insurance Package: 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.


  1. Annual Fee: 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.
  2. Minimum Income Requirement: 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.

Additional information

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