Scotia Momentum® Visa* card

• 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)
• Cash back with low annual fee
• 2% on eligible gas station, grocery store and drug store purchases and recurring bill payments
• 1% cash back on all other eligible everyday purchases
• Rates, fees and other information are effective as of Jul 2, 2020.  Subject to change.

You might gain some financial momentum with this Scotiabank® offering that allows you to get lower interest and higher cashback rates, at least in the initial stages. As its sign-up bonus, you get a 2.99% introductory interest rate on balance transfers within the first six months. The card also comes with a 2% cashback rate on all eligible gas station, grocery store, and pharmacy/drug stores purchases as well as recurring payments. For all other eligible card purchases, you get 1% cash back for your spending efforts.

You will have to pay a $39 annual fee to use the card, plus $15 extra if you plan to add an additional cardholder. Plus, you'll have to cope with standard interest rates of 19.99% and 22.99% on purchases and cash advances, respectively.

While the insurance coverage isn't comprehensive, the Scotia Momentum® Visa Card does come with purchase security and extended warranty protection. Most items purchased with your credit card are insured against theft and other misfortunes for 90 days, plus you get a warranty up to a year.

As a cardholder, you also can secure discounted car rentals; save up to 25% on car rental purchases from AVIS locations nationwide or Budget locations in Canada and the U.S. when you use this card. For everyday purchases and travel, it's a card worth trying.