Which card is better for groceries, Preferred Visa or Scotia Momentum No-Fee Visa?

The Preferred Visa earns 1% on groceries, while the Scotia Momentum No-Fee Visa earns 1%. The better choice depends on your grocery spending and the specific merchants you shop at.

Which card is better for international purchases?

The Preferred Visa has no foreign transaction fee, while the Scotia Momentum No-Fee Visa has a 2.5% foreign transaction fee. The card with no FX fee is better for international purchases.

Preferred Visa vs Scotia Momentum No-Fee Visa — Which Is Better? | Churnr

Header Quick Take Value Earn Rates Merchants Wallet Bonus FX Benefits Eligibility Perks Downgrade Verdict

Preferred Visa edges ahead by $93/yr

Preferred Visa earns $21 more on shopping
Saves $30/yr in foreign transaction fees

Shopping: +$21Dining & Restaurants: +$17Travel: +$12

Scotia Momentum No-Fee Visa: $30/yr in foreign transaction fees

Showing Year 1 analysis

Dollar Value

Winner

$347

/first year

0.8% effective$29/mo

vs 1% no-fee card: −$72

Annual rewards earned+$347

FX costsNo FX fee

Annual fee−$0

$254

/first year

0.6% effective$21/mo

vs 1% no-fee card: −$164

Annual rewards earned+$279

Welcome bonus+$5

FX costs−$30

Annual fee−$0

Best for your spendingPreferred Visa—$347Year 1 value

+$93 more than Scotia Momentum No-Fee Visa

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Earn Rates by Category

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The Bottom Line

Preferred Visa edges ahead by $93/yr

Preferred Visa earns $21 more on shopping
Saves $30/yr in foreign transaction fees

Shopping: +$21Dining & Restaurants: +$17Travel: +$12

Showing Year 1 analysis

Preferred Visa wins in both Year 1 and Year 2+ — consistent long-term value.

Data Sources

Issuer terms & conditions (verified Mar 2026)

Merchant MCC verification (239 merchants)

Insurance certificates (PDF review)

Reward program documentation

User-reported acceptance data

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Preferred Visa

Scotia Momentum No-Fee Visa

Preferred Visa edges ahead by $93/yr

Dollar Value

Show calculation breakdown

Show calculation breakdown

Earn Rates by Category

Merchant Reality Check

Wallet Optimizer

Welcome Bonus

Fees & Foreign Exchange

Insurance & Benefits

Eligibility

The Bottom Line

Data Sources

Preferred Visa

Scotia Momentum No-Fee Visa

Preferred Visa edges ahead by $93/yr

Dollar Value

Show calculation breakdown

Show calculation breakdown

Earn Rates by Category

Merchant Reality Check

Wallet Optimizer

Welcome Bonus

Fees & Foreign Exchange

Insurance & Benefits

Eligibility

The Bottom Line

Data Sources