When I used to work in the retail industry, asking customers if they’d “like to put it on their store card” was a common line used in every sale. That’s because department store credit cards use financing companies like Wells Fargo which offer lower transaction rates compared to Visa and Mastercard. Unlike the past, today’s department store credit cards offer customers incentives usually in the form of points, like The Bay.

I’ve never had a cash back reward card before until now. I’ve had the CIBC Aeroplan Gold Visa, TD Classic Visa and basic Mastercard. Before I decided to apply to get the Scotiabank Momentum Infinite Visa, I did a lot of research before and after just to make sure I got the best card for my spending habits. Afterall, its not just the stores who should be counting their pennies, it’s your money.

Overview

The Scotiabank Infinite Visa is rated the top cash back credit card by Moneysense in 2014. Its high cash back reward benefits make it one of the best credit card to use day to day in Canada. As a cardholder, you also gain all the benefits Visa Infinite members get in addition to the standard benefits of the card such as Double the Warranty when you make the full purchase amount on the card.

Cash Back Card Benefits

• 4% cash back on groceries & gas
• 2% cash back at pharmacies & recurring bill paments
• 1% cash back on everything else

Conditions to Apply

• Must have a minimum annual personal income of $60,000 or minimum annual household income of $100,000.
• Must not have declared bankruptcy or have any collections in the last 7 years.