Right now with cash back rewards being king in Canada most of the major card issuers continue to battle it out with their 10% cash back and first year free offers. One of those cards is the Scotia Momentum Visa Infinite Card. Heralded as one of the best cash back cards in Canada (we rank it #4 overall) the card is definitely one to look at if you are considering heading down the cash back route. If you are, you’re not alone. Scotia recently provided the following statistics on what they have seen happen during the pandemic:
- Dramatic increase in signing up for recurring services since the pandemic began. Recurring subscriptions saw significant growth with food delivery services up 89% and streaming services up 19%.
- Cash back rewards reign during the pandemic. Most Canadians (71%) are collecting loyalty rewards on their credit cards and once the pandemic ends, Canadians are most looking forward to redeeming points for cash back (21%), followed by travel (20%), and grocery (13%).
- Scotia Momentum Visa Infinite customers earned 18% more in cashback in grocery and recurring payment categories since the pandemic began.
You can see these tie in quite nicely with their Scotia Momentum Visa Infinite Card as it is a cash back credit card and just happens to be one that earns 4% cash back on grocery and recurring bills. Perfect for those categories that have seen increased spending over the past 15 months or so.
So if cash back is looking good to you and this card’s bonus categories are right up your alley you may want to consider applying for it. Right now for new applications Scotia will award you with 10% cash back
on all purchases up to $200 cash back in the first three months. Not
only that but they will waive the first year annual fee of $120 on the
primary card and if you grab a supplementary card they’ll waive the $50
fee on that as well at no cost. That
means if you can spend $2,000 on the card in the first three months
you’ll get the full $200 at no cost.
the first three months you will have the cards standard 4% on eligible
recurring bill payments and grocery store purchases*, 2% on eligible gas
station and daily transit purchases** and 1% cash back on all other
eligible everyday purchases and with the annual fee waived in the first
year it won’t cost
you anything to give this card a shot. Remember your cash back reward
gets paid out in November so you’ll want to wait until then to cancel
this card if so chose to. This offer is valid
for applications made up until November 1, 2020.
* – up to $25,000 spend annually in those two categories** – up to $25,000 spend annually in those two categories
Here are the most current details for this card and may not be reflective of the discussion above: