ScotiabankCash Back / Business

Scotia Momentum for business Visa Card

Our take: the strongest mainstream cash-back rate for a Canadian small business — 3% across five categories that most businesses actually spend in — provided your bonus-category spending stays under the $40,000 annual cap.

Welcome bonus5% cash back on up to $6,500 in purchases for your first 3 months, worth up to $325, for accounts opened by October 31, 2026.^*

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Our review

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The Scotia Momentum for business Visa is the rare Canadian business card that pays a genuinely high cash-back rate on ordinary operating expenses rather than on travel booked through a portal. Gas and EV charging, restaurants, office supplies and recurring bills all earn 3%, and shipping plus accounting and bookkeeping services earn 2%. The trade-offs are a $79 annual fee and a combined $40,000 yearly cap on the bonus tiers, which is generous for a small operation and restrictive for a larger one.

3.5out of 5

MoneyMint rating

#10 of 15 business cards · How we rate

Rewards value

4/10

Insurance

8/10

Flexibility

10/10

Welcome bonus

4/10

Fee value

10/10

Perks

0/10

≈ $612

estimated first-year value after the annual fee, on a typical $2,050/month budget. Compare all 15 business cards →

At a Glance

Annual fee

$79

$29 per supplementary card

Top earn rate

gas, EV charging, restaurants, office supplies, recurring bills

Bonus category cap

$40,000

combined 3% and 2% spending per year

Welcome offer

Up to $325^*

5% on up to $6,500 in 3 months

Purchase APR

20.99%

Cash advance APR

22.99%

Rates and fees confirmed on Scotiabank’s product page on September 25, 2026.

Pros and Cons

What works

3% cash back across five categories most businesses spend in, including recurring bills and office supplies.
2% on shipping and on accounting and bookkeeping services, which few competing cards recognise as a category at all.
Supplementary cards are $29 rather than the $50 several competitors charge.
Cash back is straightforward — no points programme, no portal, no transfer partners to learn.
Includes travel emergency medical insurance (up to $1 million), rental car collision and loss damage insurance, purchase security and extended warranty

What to watch

The 3% and 2% tiers share a $40,000 combined annual cap; past that, those categories drop to 1%.
The $79 annual fee means roughly $2,650 of bonus-category spending a year just to break even against a no-fee 1% card.
The welcome offer is closed to anyone who has held a Scotiabank business card in the past 2 years.
Scotiabank does not publish the foreign transaction fee on the product page, so confirm it in the cardholder agreement if you buy in foreign currencies.

What You Earn

3%Gas and EV charging, restaurants, office supplies and recurring bill payments

2%Shipping, and accounting and bookkeeping services

1%Everything else, and all bonus-category spending above the $40,000 combined annual cap

5%Introductory rate on up to $6,500 in purchases during the first 3 months

A business spending $2,000 a month evenly across the 3% categories would earn about $720 a year before the annual fee — but the same business spending mostly outside those categories would earn closer to $240.

Who It’s For

A good fit if

Your spending concentrates in fuel, client meals, office supplies or recurring software and telecom bills.
You want cash back rather than points you have to learn how to redeem.
Your bonus-category spending is comfortably under $40,000 a year.

Look elsewhere if

You spend heavily in bonus categories — the $40,000 cap will bite, and an uncapped 1% card may pay more overall.
You want a no-fee card; the $79 fee needs real bonus-category spending to justify.
You held a Scotiabank business card in the last 2 years and would miss the welcome offer.

Not Sure? Three Cards People Compare It With

Scotia Momentum for business No Fee Visa

Pick this instead if you want the same issuer with no annual fee and are happy with a flat 1% on everything.

Fee $01% on everything, no cap

Read review

BMO CashBack Business Mastercard

Pick this instead if you want a no-fee card and your spending is mostly fuel, office supplies and telecom.

Fee $01.5% on gas, office supplies and telecom

Read review

3.5

Scotia Momentum for business Visa Card

Fees and rates confirmed September 25, 2026 · $100 Mint Rebate from MoneyMint

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Jen, founder of MoneyMint

Reviewed by Jen. We verify every rate, fee and offer term against the issuer’s own published material before we publish it, and we re-check on a set schedule.

Fees, rates and offer terms in this review were confirmed on the issuer’s own site on September 25, 2026. MoneyMint earns a commission if you’re approved through our links. That commission funds the Mint Rebate and doesn’t affect our rating. Credit card terms change without notice — confirm the current terms on the issuer’s application page before you apply. This is general information, not financial advice.

Frequently Asked Questions

Is the 3% cash back capped?

Yes. The 3% and 2% categories share a combined $40,000 annual spending cap. Once your bonus-category spending passes that, those purchases earn 1% for the rest of the year. All other spending earns 1% from the start and is not capped.

What is the annual fee, and is it waived in the first year?

The card costs $79 a year, with supplementary cards at $29 each. Scotiabank does not advertise a first-year fee waiver on this card; the welcome offer is a 5% introductory cash-back rate instead.

Who is excluded from the welcome offer?

Scotiabank states the offer is not available to anyone who has held a Scotiabank business credit card in the previous 2 years. The offer applies to accounts opened between May 1 and October 31, 2026.

Does this card charge a foreign transaction fee?

Scotiabank does not state the foreign transaction fee on this card’s product page. Most Canadian Visa business cards charge about 2.5%, but we do not publish a figure we have not confirmed — check the cardholder agreement before using it abroad.

Does applying affect my personal credit?

Scotiabank does not state on the product page whether the account reports to your personal credit file or requires a personal guarantee. Most Canadian small-business cards do require a personal guarantee from the owner. Ask Scotiabank directly if this matters to you.

Offer Terms and Conditions

*Terms and conditions apply. See Card Provider’s website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.