Scotia Momentum Visa Infinite review (2026): is this Canada's best everyday cashback card?

The Scotia Momentum Visa Infinite has been near the top of Canadian cashback card rankings for years, and the reason is straightforward: it pays 4% back on two spending categories that most Canadian households rely on heavily. Groceries and recurring bill payments are where most budgets go. Earning 4% on both is a difficult rate to beat.

Here is how the card holds up in 2026.

The basics

• Annual fee: $120 (frequently waived for the first year)
• Earn rate: 4% on grocery stores and recurring bill payments, 2% on gas and transit, 1% on everything else
• Minimum income: $60,000 personal or $100,000 household
• Network: Visa Infinite
• Cashback redemption: Applied once per year in November as a statement credit

Where it earns well

The 4% grocery rate is where this card separates from most competitors. Canadian grocery bills have grown significantly over the past few years. A household spending $700 a month at the grocery store earns $336 a year at 4%. That alone nearly covers the annual fee.

The recurring bill payment category deserves attention. It covers pre-authorized charges including Netflix, gym memberships, internet, phone bills, and most subscription services. A household with $400 in monthly recurring charges earns another $192 a year from that category alone. Combined with groceries, the top two earning categories are enough for many households to earn $400 to $600 in annual cashback.

Gas at 2% is competitive, though some cards do better on fuel. Transit at 2% benefits commuters in cities with transit systems. The 1% catch-all rate is below what flat-rate competitors like the American Express SimplyCash Preferred offer (2% on everything), so the card works best when you maximize the bonus categories.

The welcome bonus

The standard welcome offer on the Scotia Momentum Visa Infinite is typically 10% cashback on all purchases for the first three months, up to a maximum bonus. Scotiabank also runs elevated promotional offers periodically, sometimes doubling the earn rate on specific categories for the first six months. Check the current offer before applying.

Travel and insurance benefits

As a Visa Infinite product, the Scotia Momentum comes with a solid travel insurance package:

• Emergency medical insurance (up to $2 million, for trips up to 25 days)
• Trip cancellation and interruption insurance
• Travel accident insurance
• Delayed and lost baggage insurance
• Rental car collision and damage waiver
• Purchase security and extended warranty protection

These benefits make the card a reasonable travel companion even though it is primarily marketed as a cashback card. The emergency medical coverage alone can substitute for standalone travel insurance for healthy cardholders under 65 on trips under 25 days.

The cashback redemption: the one real frustration

The Scotia Momentum pays cashback once per year, in November, as a statement credit. You cannot redeem mid-year, and there is no option to convert to points or other formats.

This is a meaningful limitation compared to cards that let you redeem any time you have accumulated enough. If you cancel the card before November, you may lose any cashback earned in the current year (though Scotiabank has occasionally applied prorated credits upon cancellation). The once-yearly deposit is fine if you treat it as an annual bonus, but it is worth knowing upfront.

Who this card is best for

The Scotia Momentum Visa Infinite works best for households that:

• Spend $500 or more per month on groceries
• Have meaningful recurring bill payments (phone, internet, streaming, subscriptions)
• Pay their balance in full every month
• Meet the income threshold

It is less suitable if most of your spending falls into categories outside the top tiers, if you want flexible mid-year redemption, or if your income does not meet the minimum requirement.

How it compares to the competition

The closest competitor in the grocery category is the BMO Eclipse Visa Infinite, which offers 5 points per dollar at grocery stores, pharmacies, and restaurants (worth approximately 2.5 cents per point in travel). For pure grocery spend, the BMO card has a slight edge. But the Scotia Momentum's recurring bill payment category at 4% adds meaningful earning that many households can maximize in ways the BMO card does not match.

For people who want a simpler earn structure without category tracking, the American Express SimplyCash Preferred at 2% on everything for $119.88 annually is easier to manage. At high total spend levels, the SimplyCash Preferred can actually earn more than the Momentum if your grocery and bill spend is below average.

Frequently asked questions

Does the 4% grocery rate apply at Costco?

No. Costco Canada operates exclusively on Mastercard, and Scotiabank Visa cards are not accepted there. Costco purchases would not apply in any case since the 4% rate is specific to Visa-accepting grocery stores that code as grocery merchants with Visa.

What counts as a recurring bill payment at 4%?

Pre-authorized charges that recur on a fixed schedule generally qualify: internet, cable, phone, streaming services, gym memberships, and subscription software. One-time charges or manually-initiated payments typically do not. In practice, most monthly subscription services qualify, but it is worth checking your first statement to confirm.

Can I get the annual fee waived?

Scotiabank frequently waives the first-year fee as part of promotional offers. After year one, calling and mentioning you are considering cancelling sometimes results in a fee waiver or a points bonus. It is worth a five-minute call before the annual fee posts.

For Canadian households with grocery and subscription spending as their top categories, the Scotia Momentum Visa Infinite is one of the strongest options available. Run your own numbers against your actual spending before deciding.