Scotia Momentum for business Visa: requirements and how to apply
See the fees, cash back rates and requirements before you apply
TThe Scotia Momentum for business Visa Card is designed for Canadian business owners who want a simple way to earn cash back on everyday business expenses while keeping company spending organized.
It combines cash back rewards, insurance coverage and expense management tools that support your daily operations.
With features focused on common business costs, the card can help you track expenses, manage cash flow and simplify payments.
Who is the Scotia Momentum for business Visa card for?
The Scotia Momentum for business Visa Card is intended for Canadian business owners who regularly use credit for business expenses.
It can suit many types of businesses, such as retail stores, independent contractors, consultants, freelancers and online businesses, whether expenses are paid in person, online or through recurring payments.
Businesses that spend regularly on gas, restaurants, office supplies or recurring services like phone, internet and insurance may benefit most from its cash back structure.
The card can also help companies keep business and personal spending separate, with transactions organized in one place for bookkeeping and tax purposes.
Approval depends on Scotiabank’s credit assessment, which considers both personal and business information.
Benefits of the credit card
The Scotia Momentum for business Visa Card includes benefits focused on cash back and practical business tools:
Cash back rewards
Cardholders earn 3% cash back on eligible purchases at gas stations and electric vehicle charging stations, restaurants and office supply stores, as well as on recurring bill payments. Eligible shipping and accounting or bookkeeping services earn 2% cash back.
The 3% and 2% rates apply to a combined $40,000 in purchases per year. All other eligible purchases, and purchases above that limit, earn 1% cash back.
You can redeem your cash back at any time once you have at least $25, as a statement credit or a deposit into a Scotiabank account. It doesn’t expire while your account is open.
Financial management tools
The card gives you access to Visa Spend Clarity for Business, a web-based tool from Visa that helps you track expenses and organize transactions.
You can review spending by category and monitor expenses over time, which can make bookkeeping and financial planning easier.
Insurance coverage
The Scotia Momentum for business Visa Card includes insurance coverage when you use the card for eligible purchases:
- Travel Emergency Medical Insurance: up to $1 million for you, your spouse and your eligible dependent children, for travellers under 65 and trips of up to 8 consecutive days;
- Rental Car Collision and Loss Damage Insurance: for rentals of up to 48 consecutive days and vehicles valued at $65,000 or less, when you charge the full cost to your card and decline the rental agency’s coverage;
- Purchase Security: most new items are covered against theft, loss or damage for 90 days from the purchase date;
- Extended Warranty: doubles the manufacturer’s warranty for up to one additional year.
Coverage limits, exclusions and conditions apply, as described in the Certificate of Insurance.
Flexible payment options
With Scotia SelectPay, you can turn eligible purchases of $100 or more into fixed monthly payments. This option can help you spread the cost of equipment or inventory over time.
Supplementary cards
You can add supplementary cards for employees or partners for $29 each per year, so business expenses are consolidated in one account.
Purchases on supplementary cards also earn cash back for the account, and only the primary cardholder can redeem it.
Other savings
You can get up to 8¢ per litre in value at Shell when you link your card, save up to 25% off base rates at participating Avis and Budget locations, and get discounts from participating merchants through Visa SavingsEdge.
Main details of the card
- Card network: Visa;
- Usage: accepted in Canada and internationally wherever Visa is accepted (a 2.5% foreign transaction fee applies to purchases in foreign currencies);
- Credit limit: minimum of $500, with your limit set by Scotiabank based on its review;
- Annual fee: $79 for the primary card, plus $29 per supplementary card. Physicians and dentists may get a rebate on the annual fee;
- Interest rates: 20.99% on purchases and 22.99% on cash advances, balance transfers and cash-like transactions;
- Increased rates: if you miss two consecutive minimum payments, rates can increase to 25.99% on purchases and 27.99% on cash advances.
Rates, fees and conditions checked on September 22, 2026, against the official Scotiabank website. Confirm current terms on the Scotiabank website before applying.
Documents required to apply
Scotiabank doesn’t publish a full list of documents for this card. When you apply, you can expect to provide:
- Your personal information and identification;
- Information about your business, such as its name, structure and revenue;
- Financial information needed for the credit review.
The information required may vary depending on your business structure, such as a sole proprietorship or a corporation.
How to contact Scotiabank?
For questions about the Scotia Momentum for business Visa Card, you can contact Scotiabank through:
- Rates and fees information: 1-888-882-8958;
- Lost or stolen cards: 1-800-472-6842;
- In person: book an appointment at a Scotiabank branch.
How to apply for the Scotia Momentum for business Visa card?
You can apply for the Scotia Momentum for business Visa Card online through Scotiabank’s website, or book an appointment to apply in person.
The online application asks for your personal and business information. After you submit it, Scotiabank reviews your application, including a credit check. Approval isn’t guaranteed.
Scotia Momentum for business Visa card: financial hit or miss?
The Scotia Momentum for business Visa Card can be a good fit for businesses that spend regularly in the 3% categories, such as gas, dining, office supplies and recurring bills, and want a tool to organize their spending.
At 3%, you’d need to spend about $2,630 per year in these categories to cover the $79 annual fee. Keep in mind that the higher rates apply only to the first $40,000 in eligible purchases each year.
However, the 20.99% interest rate applies if you carry a balance from month to month. If your business regularly carries a balance, the interest can quickly outweigh your cash back, and a low-interest business card may be a safer choice.
For businesses that pay their statement in full and want cash back on everyday expenses, this card is worth considering.
Click on the button below to be redirected to the official Scotiabank website to review the terms and apply for the Scotia Momentum for business Visa:
You will be redirected to the official website
Disclaimer: This site is independent and strictly informational, and its content does not constitute financial advice. Finvyu is not affiliated with Scotiabank. We do not guarantee credit card approval, which is solely subject to a credit check, business verification and risk analysis by the issuing bank (Scotiabank). Finvyu Editorial Team.
