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In October, how you earn cash back on the Scotia Momentum credit card lineup will change in two of the most popular categories.
Scotiabank is changing the way cash back works on Scotia Momentum credit cards, and many aren’t happy about it.
The update applies to the Scotia Momentum Visa Infinite+ Card, Scotia Momentum Visa Card, Scotia Momentum Visa No-Fee Card, and Scotia Momentum for Business Card.
Scotiabank told MoneySense that, starting October 22, 2026, the earn rate on rent and tax payments will change from the accelerated recurring bill payment earn rate to the regular purchase earn rate.
The new regular purchase earn rates taking effect in October are as follows:
Scotia Momentum Visa No-Fee Card: 0.5% (down from 1%)
Scotia Momentum Visa Card: 1% (down from 2%)
Scotia Momentum Visa Infinite+ Card: 1% (down from 4%)
Scotia Momentum for Business Visa Card: 1% (down from 3%)
The bank confirmed that customer messaging went live on August 17, 2026. Discussions erupted on social media, but rumours about the changes had been quietly brewing online days before the official announcement, with many users sharing that the hefty rent cash back was their primary reason to get their Scotia Momentum credit card.
“I’ll be immediately cancelling my card with them if this is the case,” one user shared on the Chexy subreddit on August 14. “It’s the only reason why I got the Scotia Momentum Infinite card. Cancelling it if this is true,” added another.
Chexy, like NeoBanc, TenantPay, and Casa, is a third-party payment platform that allows you to pay rent via a connected credit card. It charges a 1.75% fee per transaction for the service. With a Scotia Momentum Visa Infinite+ card connected for recurring rent and tax payments, many Canadians take advantage of the 2.25% cash back they’d get after the transaction fee. The annual spending cap of up to $25,000 is also generous.
“This wasn’t unexpected,” said Rewards Canada creator Patrick Sojka in a phone interview with MoneySense. For Chexy and other third-party payment apps that allow you to use credit cards where you normally cannot use credit cards, “it was only a matter of time before some banks began curbing the recurring payment perks.”
These platforms’ reliance on the Scotia Momentum lineup and other similar products has left many wondering if they will introduce reduced fees to retain clients.
“They’re probably just squeaking by because they’re a startup,” said Sojka. For context, Chexy launched in 2023, Neobanc in 2025, and Casa in 2026. “They can offer lower rates right now because they’re using all their venture capital or angel investing,” stated Sojka, adding that once that starts drying up, there may be serious challenges in store for the brand.
Chexy is not as worried, though.
“Chexy has grown well beyond one card or rewards program, with more Canadians using the platform across a growing range of payments and rewards options. No single card or rewards program defines the business, and the Scotia Momentum card represents one option within a much broader ecosystem,” Chexy CEO and Co-Founder Liza Akhvledziani told MoneySense. “Changes to individual card programs are a normal part of the rewards landscape and do not materially impact Chexy’s trajectory. “
Regarding the chaos taking place on r/Chexy since the Scotia Momentum announcement, Akhvledziani said the subreddit has been very active from day one.
“I actively read our customer’s feedback and suggestions. We remain focused on expanding the platform, building new partnerships and creating more ways for Canadians to get value from their largest recurring expenses. We’ll be sharing some news soon as we continue to grow our offerings,” she shared.
Sojka noted that services like Chexy and Neobanc began using Scotia Momentum as the de facto example in their marketing due to the high cash back rate.
“You had people going out and getting the Momentum Visa Infinite card just for using it with Chexy, Neobanc, and places like that, and so those cardholders are not profitable for Scotiabank,” the rewards expert stated. “Four per cent, no matter what, is not profitable for Scotiabank, but they balance it out with interest rates and lower earn rates. But when you get somebody who gets the card just to use it for rent or taxes—they’re only earning 4% and not doing anything else on the cards—that’s not profitable.”
He believes the Scotia Momentum lineup remains a decent option. It’s important to remember the downgrade is only coming to the rent and tax categories, but you can still get a good cash back deal on recurring payments for things like daycare, insurance, and tuition, among others.
“Clients continue to enjoy robust cash back rewards on accelerated categories including 4% on groceries and recurring payments, like telecommunications, insurance, memberships, and subscriptions and 2% on gas, electric vehicle charging, daily transit like buses, taxis, rideshares, and food delivery on the Scotiabank Momentum Visa Infinite+ Credit Card,” Scotiabank clarified in an email to MoneySense on Thursday.
“Members using the Scotia Momentum card can continue earning the current rate on eligible payments until October 22, and we’re helping our users understand their options beyond that date. On this card, users still have the capability to earn 4% on other categories outside of rent and tax, and our current pricing will continue to apply,” Chexy’s Akhvledziani reassured.
Alternatives come with their own catches, and you must decide what makes the most sense for you. There’s no one-size-fits-all.
The TD Cash Back Visa Infinite* Card offers 3% cash back on certain categories, but has a spending cap of $15,000 per category. It costs you $139 per year, but the fee is waived for the first year.
The Neo World Elite Mastercard® (Gas and Grocery) offers 4% cash back on recurring bill payments and 5% cash back on groceries, but has $500 and $1000 caps on both, respectively, after which you only earn 1% cash back. With a yearly fee of $149, you must decide if that makes sense to you.
There’s no spend cap on the Wealthsimple Visa Infinite Privilege, which gets you 2% cash back on everything. Other benefits include no foreign exchange fee and a waived yearly fee if you maintain $100,000+ in personal assets with Wealthsimple or directly deposit $4,000+ monthly into your chequing account. Access to 1,200+ airport lounges worldwide makes this a worthy contender for frequent flyers.
Use Ratehub’s CardFinder to see what fits your needs best.
Are you a Scotia Momentum credit card using the rent and/or tax cash back feature through a third-party credit card payment platform? Share your thoughts with us at [email protected].
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