Scotia Momentum Business Visa Credit Card Review

This card stands out with its robust cash back program, offering competitive rewards that align with common business spending categories.

The Scotia Momentum Business Visa Credit Card is a powerful financial tool tailored for small business owners seeking to optimize their cash flow and earn rewards on everyday business expenses. With the Scotia Momentum Business Visa Credit Card, you can earn cash back on office supplies, gas, recurring bills, and dining expenses, providing a practical way to offset business costs and maximize savings.

CREDIT CARD

Scotia Momentum Business Visa

Travel Emergency Medical 3% cash back

Access everything you need with a credit card

APPLY NOW You will be redirected

In addition to its rewarding cash back program, the Scotia Momentum Business Visa Credit Card offers valuable benefits designed to support business operations. Cardholders can access comprehensive business management tools, including detailed expense reports and account management features, simplifying expense tracking and financial planning.

Earning rewards

The Scotia Momentum Visa Card is an excellent cash-back credit card in Canada, offering generous rewards on various categories of spending:

• 3% cash back on eligible gas station, restaurant, office supply store purchases, and eligible recurring bill payments.
• 1% cash back on all other everyday purchases for your business.

With these earning rates, the Scotia Momentum Visa Card rewards you for your everyday spending, allowing you to maximize cash back on essential purchases like groceries, gas, transit, bills, and subscriptions. The card’s straightforward cash-back structure makes it a popular choice for those looking to earn rewards on their daily expenses with no earning caps.

Redeeming rewards

With the Scotia Momentum Business Visa Credit Card, you can redeem your cash back rewards as statement credits. This flexible redemption option allows you to offset your business expenses directly by applying your earned cash back rewards towards your credit card balance.

Simply redeem your accumulated cash back rewards online or through the Scotia Rewards program, and the credited amount will appear as a statement credit on your next billing statement. This convenient redemption method helps reduce your business’s financial burden and maximizes the value of your earned rewards from using the Scotia Momentum Business Visa Credit Card.

Benefits of Scotia Momentum Business Visa Credit Card

• Low annual fee

The Scotia Momentum Business Visa Credit Card offers a low annual fee, making it a cost-effective choice for businesses looking to minimize credit card expenses while enjoying valuable benefits and rewards. With this card, you can access essential business features and perks without incurring high annual fees, allowing you to optimize your business finances and maximize savings.

• Extended grace period of 25 days

The Scotia Momentum Business Visa Credit Card features an extended grace period of 25 days, giving you additional time to manage your business expenses before interest accrues on your purchases. This extended grace period provides flexibility and convenience for businesses to maintain cash flow and effectively manage payments within the billing cycle.

• Introductory interest rate for only 2.99%

The Scotia Momentum Visa Card offers a special introductory rate of 2.99% interest on balance transfers for the first 6 months, with no balance transfer fee. This promotion allows you to consolidate and manage your existing balances more affordably, helping you save on interest charges and simplify your finances. Take advantage of this offer to take control of your credit card debt effectively.

• Visa SavingsEdge

With the Scotia Momentum Visa Card, you can take advantage of Visa SavingsEdge to receive discounts on your business purchases. Signing up for Visa SavingsEdge is fast, simple, and free. This program offers a convenient way to save money on essential business expenses, further enhancing the value and benefits of using the Scotia Momentum Visa Card for your business transactions.

• Business perks

With the Scotia Momentum for Business Visa card, all your business spending is consolidated into one monthly statement, simplifying expense tracking. Transactions made by Supplementary Cardholders are clearly identified on the statement, ensuring transparency and easy expense management.

• Get supplementary cards

With the Scotia Momentum for Business Visa card, you can easily add Supplementary cards for your employees, allowing multiple individuals to access the same account. This convenient feature enables you to earn cash back rewards on purchases made by Supplementary Cardholders at the same rate as your primary card. This benefit not only helps streamline expense management but also maximizes cash back rewards for your business expenditures with the Scotia Momentum for Business Visa card.

• Travel and luggage insurance

The Scotia Momentum Business Visa Credit Card is ideal for travelers and business owners, offering up to $1 million in travel and luggage insurance. This card provides essential protection against unforeseen expenses and emergencies, ensuring peace of mind during business travels.

• High credit limit

The Scotia Momentum Business Visa Credit Card offers a generous credit limit of up to $150,000, making it an excellent choice for businesses needing flexibility for purchasing office supplies, inventory, and other essential business expenses. This card provides convenient access to credit when needed, empowering businesses to manage cash flow effectively and make necessary purchases to support operations and growth.

Credit Card Scotia Momentum Business Visa: Application Requirements

Before applying for the Scotia Momentum Business Visa credit card, ensure you meet the necessary requirements:

1. Business Eligibility:
   • The applicant must be a registered business entity.
   • The business should have a stable financial standing.
2. Personal Credit History:
   • A good personal credit history is often required for business credit cards.
   • Ensure your personal finances are in order before applying.
3. Business Documentation:
   • Prepare essential business documents, such as tax identification numbers and financial statements.
4. Credit Score:
   • A credit score within a specified range is typically required for approval.

How to apply?

Applying for a Scotia Momentum Business Visa is easier than you think:

1. Go to the Scotiabank website and look for Scotia Momentum Business Visa
2. Click on Apply Now
3. Read Terms and Conditions
4. Fill your personal and financial details
5. Submit your application

Frequently Asked Questions (FAQs) – Scotia Momentum Business Visa

Is there an annual fee for the Scotia Momentum Business Visa?

• Yes, there is an annual fee associated with the card. Check the current fee structure on the Scotia bank website.

How can I check my rewards balance?

• You can conveniently check your cash back rewards balance through Scotia Online or the Scotia Mobile App.

What is the credit limit for the Scotia Momentum Business Visa?

• The credit limit is determined based on your business’s financial standing and creditworthiness.

Can I manage multiple cards for employees under one business account?

• Yes, the Scotia Momentum Business Visa allows you to request additional cards for employees with individual spending limits.

For more detailed information or specific inquiries, please refer to the Scotia bank’s official website or contact their customer service.

CREDIT CARD

Scotia Momentum Business Visa

Travel Emergency Medical 3% cash back

Access everything you need with a credit card

APPLY NOW You will be redirected