Loyalty rewards cards have come a long way and I’ll admit, I’ve been slow on the uptake. At first, I imagined a card that offered travel rewards would make sense because I love to travel. I started getting excited about all the “points” I could collect at the grocery store and regularly dreamed of all the glamorous travelling I would do with them. Even if I didn’t use them for travel, I could use them for all the goodies available in that mouth-watering rewards inventory.
I began to research whether or not I could get a card that actually saved me money by earning cashback based on what I spend. In other words, I wanted a card that would cost the least amount of money and help me earn cashback as I spend. Assuming of course that I’m a good boy and I pay my bills on time (insert awkward face + painfully forced shoulder shrug)…
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I’m pretty sure I found it: The Scotia Momentum® Visa InfiniteTM Card.
The card gives me 4% cash back on gas and grocery purchases. I eat like a horse after a bad breakup. The grocery thing was a major selling point.
For all pharmacy purchases and recurring bill payments, the Scotia Momentum Visa Infinite Card gives me 2% cash back. Cell phone and gym membership, check. Mouthwash, allergy medication and cologne, check.
For everything else, it’s 1% cash back. At the end of the year, after spending a few thousand dollars a month, I can expect to have somewhere in the ballpark of $400-$700 either deducted from my bill or transferred to my chequing account. And the best part is,as of March 24th, there is no annual fee for the first year Scotia Momentum Visa Infinite Card ($99).
And then of course there’s the added benefits of the being a Visa Infinite cardholder; 24/7 concierge service, access to exclusive dining events (recall my position on eating), travel insurance for medical, trip interruption, flight delay and Avis rental cars (never having to check that box is HUGE) and of course, first class treatment at TIFF Galas
So I got the card. And I’m not gonna lie – I’m thinking about snagging the Scotiabank Momentum cashback Debit card too.. you get 1% cash back on your everyday purchases. If I used my debit card to purchase a few cold-pressed juices each week, I’d still earn about $30 in cashback over the course of the year. Not bad at all.
I’ll let you know how the new plastic goes. But as long as my credit card saves me money when I spend money, I suspect I’ll have only great things to say.
The fee waive offer starts now until June 30th. To find out more about the card, you can visit Scotiabank.com/cashback.
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