Earn rates
The Momentum for Business Visa earns cash back at three tiers, aimed at where a small business actually spends. Gas, restaurants, office supply stores, and eligible recurring bill payments earn 3%. Shipping and accounting and bookkeeping services earn 2%. Everything else earns 1%.
| Spending category | Cash back | Back per $100 spent |
|---|---|---|
| Gas stations | 3% | $3.00 |
| Restaurants | 3% | $3.00 |
| Office supply stores | 3% | $3.00 |
| Eligible recurring bill payments | 3% | $3.00 |
| Shipping | 2% | $2.00 |
| Accounting and bookkeeping services | 2% | $2.00 |
| Everything else | 1% | $1.00 |
The 3% and 2% categories share a combined annual cap of $40,000 in purchases. Spending above that cap in those categories earns the base 1% rate for the rest of the year. The cap resets each year. Cash back is paid out once a year as a statement credit, so there is nothing to track or redeem manually.
What the earn math looks like
A business spending $2,500 per month across typical categories:
| Category | Monthly spend | Rate | Monthly cash back |
|---|---|---|---|
| Gas | $500 | 3% | $15.00 |
| Restaurants and client meals | $400 | 3% | $12.00 |
| Office supplies and recurring bills | $400 | 3% | $12.00 |
| Shipping | $200 | 2% | $4.00 |
| All other spending | $1,000 | 1% | $10.00 |
| Total | $2,500 | $53.00 / mo |
$636 in cash back per year at this spend mix, against a $79 annual fee. The bonus categories ($1,500 per month, or $18,000 per year) stay comfortably under the $40,000 combined cap. A business with heavier gas, dining, or supply spending earns more, up to the point where the cap starts converting those categories to 1%.
Welcome offer
The current offer is a financing promotion rather than a cash bonus: a 2.99% introductory interest rate on balance transfers for the first six months, with no balance transfer fee. It is useful for a business carrying a balance on another card, but it adds no value if you pay in full each month. There is no upfront cash-back or points bonus on this card.
Benefits
| Benefit | Details |
|---|---|
| Purchase protection | 90 days against loss, theft, or damage |
| Extended warranty | Doubles the manufacturer’s warranty up to 1 additional year |
| Travel emergency medical | Up to 8 days for cardholders 64 and under; up to 3 days for ages 65–75 |
| Rental car collision / loss damage | Included |
| Visa SavingsEdge | Automatic discounts at participating business suppliers |
| Foreign transaction fee | 2.5% on purchases in a foreign currency |
The travel medical coverage is short, eight days for cardholders under 65, so it suits quick domestic or cross-border business trips rather than longer travel. For anything beyond a week, or for cardholders over 65, supplemental coverage is worth arranging separately.
Travel insurance on the Scotia Momentum for Business Visa
The Scotia Momentum for Business Visa scores 13 of 100 on the figures its certificate publishes, 44th of the 59 Canadian cards compared. Emergency medical is capped at $1,000,000 for trips up to 8 days. At 65 the longest covered trip falls from 8 days to 3.
| Emergency medical | $1,000,000 · age 0–64: 8 days; age 65+: 3 days · 180-day stability window |
|---|---|
| Rental car collision or damage | Pays first · rentals to 48 days · vehicles to $65,000 |
You have 90 days from the incident to report a claim. Dependent children are covered to age 21.
Every figure from the certificate, with its own wording
| Emergency medical | limit: $1,000,000 (per Insured Person, in excess of any amount payable by a GHIP or Other Insurance) age 0–64: 8 days; age 65+: 3 days pre existing stability days: 180 days (365 days where the person is 75 years of age or older; measured before the date the Trip was booked) |
|---|---|
| Emergency travel assistance | offered: Yes (administered by Active Claims Management (2018) Inc., operating as Global Excel Management; 416-977-1552 locally or collect from other countries) |
| Rental car collision or damage | is primary: Yes (coverage is capped at one vehicle rental during any one period) limit basis: actual cash value of the damaged or stolen vehicle as well as any valid and documented Loss of Use, reasonable and customary towing charges, and administration charges vehicle value cap: $65,000 (manufacturer suggested retail price excluding all taxes, measured at the time and place of loss) max rental days: 48 days (if the rental period exceeds 48 days no coverage is provided, even for the first 48 days) excluded classes: vans, other than minivans as described above, trucks, pick-up trucks or any vehicle that can be spontaneously reconfigured into a pick-up truck, off-road vehicles, motorcycles, mopeds or motorbikes, campers, trailers or recreational vehicles, vehicles not licensed for road use (truncated at 40 words; the enumeration continues with mini-buses or buses, antique cars, hand-made or under-2,500-per-year production vehicles, vehicles over $65,000 MSRP, tax-free cars, vehicles towing trailers, and expensive or exotic vehicles) territory: This coverage is available on a 24-hour basis anywhere in the world, except where prohibited by law or where the coverage is in violation of the terms of the rental contract in the jurisdiction in which it was formed. |
| Purchase protection | days: 90 days (runs from the date of purchase; full Purchase Price must be charged to the Account) limit per year: $60,000 (stated as an aggregate maximum lifetime liability shared by Purchase Security and Extended Warranty, not an annual cap) |
| Extended warranty | years added: 1 year (doubles the period of repair services otherwise provided by the original Manufacturer’s Warranty, capped at 1 additional year; unit is years, not days) cap: $60,000 (aggregate maximum lifetime liability shared with Purchase Security) |
Figures above are from the Scotia Momentum for business Visa Card Certificate of Insurance, effective 2021-07-01, underwritten by The Manufacturers Life Insurance Company (Manulife) and First North American Insurance Company, under Group Policy BNS749 issued to The Bank of Nova Scotia. Checked against the certificate for 13 coverage types. Terms change without notice; verify with the issuer before relying on any figure.
Cash back, not points
This is a cash-back card, so there is no loyalty currency to manage and no transfer partners. The annual statement credit is simple and predictable, which is the appeal for a business owner who wants to lower operating costs without learning a points program. If the goal is to earn travel rewards on business spending, a Scene+ or Aeroplan-earning business card is the more direct route, but those cards carry a points program and, in most cases, higher fees.
Good fit if
- Your business spends regularly on gas, client meals, office supplies, or recurring bills, where the 3% rate does the most work.
- You want straightforward cash back paid as a statement credit, with no points program to track or redeem.
- You want a low annual fee with no income requirement and cheap supplementary cards for staff.
If that describes you, apply for the Scotia Momentum for Business Visa. Not sure yet? Book a free conversation and we will walk through it together.
Less useful if
- You spend heavily in foreign currencies: this card charges the standard 2.5% FX fee, while Scotiabank’s travel cards waive it.
- You want to earn travel rewards on business spending: cash back does not convert to Scene+ or any airline program.
- Your bonus-category spending runs well above $40,000 a year: purchases past the combined cap drop to the base 1% rate.