Scotia Momentum for business Visa: cash back on gas, dining and office supplies
The Scotia Momentum for business Visa Card is designed for Canadian business owners who want to earn cash back on common business purchases, along with insurance coverage and expense management tools.
Whether you’re filling up the company vehicle, dining with clients or buying office supplies, this card pays higher cash back in categories that many businesses spend on regularly.
It can be a practical choice for sole proprietors, freelancers and small business owners who want to keep personal and business expenses separate while earning cash back on their everyday spending.
It suits business owners who value organization and prefer cash back over points.
Pros and cons of the Scotia Momentum for business Visa card
Review the benefits and limitations of the Scotia Momentum for business Visa to decide if it fits your business and its cash flow.
Advantages
The Scotia Momentum for business Visa offers several benefits for business owners:
- 3% cash back: on eligible gas and electric vehicle charging, restaurant and office supply store purchases, and recurring bill payments such as phone, internet, utilities and insurance;
- 2% cash back: on eligible shipping and accounting or bookkeeping services;
- 1% cash back: on all other eligible purchases, and on purchases in the 3% and 2% categories after the combined annual limit of $40,000 is reached;
- Flexible redemption: 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;
- Insurance coverage: Purchase Security for 90 days, Extended Warranty of up to one additional year, Rental Car Collision and Loss Damage Insurance, and Travel Emergency Medical Insurance of up to $1 million for short trips;
- Expense management: Visa Spend Clarity for Business helps you track expenses and manage spending on employee cards;
- Installment plans: with Scotia SelectPay, you can turn eligible purchases of $100 or more into fixed monthly payments;
- Other savings: up to 8¢ per litre in value at Shell when you link your card, up to 25% off base rates at participating Avis and Budget locations, and discounts through Visa SavingsEdge.
Insurance coverage is subject to the terms, limits and exclusions in the Certificate of Insurance provided with the card.
Disadvantages
Take a look at some of the card’s limitations below:
- A $79 annual fee applies to the primary cardholder, plus $29 for each additional card;
- The 3% and 2% rates are limited to a combined $40,000 in purchases per year;
- The purchase interest rate is 20.99%, so carrying a balance can quickly cancel out your cash back. If you miss two consecutive minimum payments, rates can increase to 25.99% on purchases and 27.99% on cash advances;
- Travel medical coverage only applies to travellers under 65, for trips of up to 8 consecutive days;
- Foreign transaction fee: a 2.5% fee applies to purchases in foreign currencies;
- Approval depends on Scotiabank’s credit assessment.
Fees and rates of the Scotia Momentum
Here are the main fees and interest rates for the Scotia Momentum for business Visa:
- Annual fee: $79. Physicians and dentists may get a rebate on the annual fee;
- Supplementary card fee: $29 per additional card;
- Interest rate on purchases: 20.99% annually;
- Interest rate on cash advances: 22.99% annually, which also applies to balance transfers and cash-like transactions;
- Minimum credit limit: $500;
- Foreign currency conversion fee: 2.5%;
- Overlimit fee: $29.
Other fees may apply. For current rates and fees, Scotiabank recommends calling 1-888-882-8958.
Rates, fees and conditions checked on September 22, 2026, against the official Scotiabank website. Confirm current terms on the Scotiabank website before applying.
About the bank
Scotiabank, officially known as The Bank of Nova Scotia, is one of Canada’s “Big Five” banks.
Scotiabank offers banking products for businesses across the country, including bank accounts, loans, lines of credit and credit cards.
Its business credit card lineup also includes a no-fee version of the Scotia Momentum for business Visa and the Scotiabank Passport Visa Infinite Business Card.
App and digital management
You can manage your Scotia Momentum for business Visa through Scotiabank’s online banking and mobile app, where you can also redeem your cash back.
For business expense management, the card includes Visa Spend Clarity for Business, a web-based tool from Visa that lets you:
- Track expenses on your card and employee cards;
- Organize spending to simplify your bookkeeping;
- Stay on budget by managing spending across your cards.
You can also add supplementary cards for employees and use the card with a digital wallet for contactless payments.
Should the Scotia Momentum for business Visa card be in your wallet?
The Scotia Momentum for business Visa can be a good option for Canadian business owners who want to earn cash back on common business expenses, such as gas, restaurants, office supplies and recurring bills.
At 3%, you’d need to spend about $2,630 per year in these categories to cover the $79 annual fee.
However, consider the annual fee, the 20.99% interest rate, the $40,000 annual limit on the higher rates and the 2.5% foreign transaction fee in relation to your business’s spending. If your company makes many international purchases, a card with no foreign transaction fees may be a better fit.
If your business spends regularly in the 3% categories and you pay your statement balance in full each month, this card can help you earn cash back on your everyday business expenses.
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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.