This is the Scotia card I'd point a small business toward if its spending runs through gas pumps, restaurants, office supply stores and monthly bills. Those four categories earn 3%, shipping and bookkeeping earn 2%, and the categories match where a lot of trades, consultants and small shops actually spend.
What I'd weigh is the $40,000 combined cap on the bonus categories, which is the ceiling on this card's value, and the thin insurance. At $79 a year it pays for itself once you put about $4,000 a year through the 3% categories, compared with the no-fee version at a flat 1%.
Welcome offer
Scotiabank is offering 5% cash back on up to $6,500 in purchases in your first 3 months, for accounts opened between May 1, 2026 and October 31, 2026 (verified on the Scotiabank page on October 15, 2026). That is up to $325 in total cash back. The 5% is your regular rate plus a top-up, so the bonus part is worth more on 1% spending than on 3% spending, but the total is 5% on every eligible dollar either way.
The offer also includes a 2.99% introductory rate on balance transfers for 6 months from account opening, with no transfer fee during the promo; after that, the remaining balance moves to the 22.99% cash advance rate. Anyone who was a primary or secondary cardholder on a Scotiabank business credit card in the past 2 years is not eligible, though personal Scotia cardholders are.
The cap is $6,500 in 3 months, about $2,170 a month, which a business routing its fuel, software subscriptions and supplier bills through the card can reach. The top-up portion lands within about 7 months of opening, and the account itself has to be opened by October 31, 2026; the application date does not count.
Fees & eligibility
The card runs $79 a year, with no first-year waiver in the current offer. Each additional card, including co-borrowers and supplementary cardholders, is $29 a year. Physicians and dentists get an annual fee rebate every year the account stays in good standing.
Scotiabank does not print a minimum income or business revenue requirement on the product page, and the minimum credit limit is $500. Purchases carry a 20.99% interest rate and cash advances and balance transfers 22.99%, rising to 25.99% and 27.99% after two missed payments in 12 months. Foreign currency purchases carry a 2.5% conversion fee, and the primary borrower and any co-borrower are liable for all charges on the account, including employee cards.
Earning rewards
The card pays 3% cash back at gas stations and EV charging, restaurants and bars, office supply stores and on recurring bill payments like phone, internet, utilities, insurance and software subscriptions. Shipping and accounting or bookkeeping services earn 2%. Everything else earns 1%.
The 3% and 2% categories share one $40,000 annual spend limit, counted from the statement period of the month you opened the account; past it, everything earns 1%. Maxing the cap in 3% categories returns $1,200 a year. Categories follow the merchant's classification code, and recurring bills only count when the merchant bills the card automatically.
Redeeming rewards
Cash back is worth exactly what it says. Once you have $25 or more, you can redeem any time in the Scotia app or online banking, as a statement credit or a deposit into an eligible Scotiabank account, with no annual limit. Joint accounts can only deposit into joint bank accounts, and a sole borrower only into a sole account.
Cash back does not expire while the account is open, and you have 90 days to redeem after closing it. Welcome bonus cash back becomes redeemable after the promotional period ends.
Perks & benefits
The perks are practical rather than premium. Link the card to a Shell Go+ account for up to 8 cents per litre in value at Shell (a 3-cent instant discount, 3% cash back, and Scene+ points on premium fuel), and get up to 25% off base rates at participating Avis and Budget locations in Canada and the U.S.
For running the business, Visa Spend Clarity for Business tracks employee spending and Visa SavingsEdge adds merchant discounts. Scotia SelectPay turns purchases of $100 or more into fixed instalments. There is no lounge access, no travel credit and no mobile device insurance.
Insurance
The insurance covers the basics and stops there. Emergency travel medical pays up to $1 million per person, but only for the first 8 days of a trip if you are under 65 and the first 3 days at 65 or older, with nothing for the rest of a longer trip. It covers you, your spouse and dependent children, and the trip does not have to be charged to the card.
Rentals paid with the card get primary collision and loss damage coverage for up to 48 days on cars valued up to $65,000. Purchases are covered for 90 days against theft, loss or damage, and manufacturer warranties are doubled by up to one extra year, under a $60,000 lifetime maximum. There is no trip cancellation, trip interruption, flight delay or baggage coverage, and the certificate covers the named cardholder as a person, not the business itself.
My take
I'd get this card if your business spends at least a few thousand dollars a year on fuel, meals, office supplies and recurring bills; I'd skip it if most of your spending is general supplier invoices that only earn 1%.
The 3% categories are well chosen for small businesses, and recurring bills are the quiet win: phone, internet, insurance and software subscriptions all billed to the card earn 3% without any effort. Against the no-fee Momentum for business at a flat 1%, the $79 fee pays for itself at roughly $4,000 a year in 3% spending.
The ceiling is the $40,000 combined cap, so this card tops out around $1,200 a year from its bonus categories, and the 2.5% foreign transaction fee rules it out for U.S. supplier payments. The welcome offer is solid at up to $325, but it ends October 31, 2026; if you miss it, I'd still take the card for the ongoing 3%, just without the urgency.
The good
- 3% on gas, restaurants, office supplies and recurring bills
- Cash back redeemable any time from $25
- Primary rental car coverage for a $79 card
The catch
- 3% and 2% categories share a $40,000 annual cap
- 2.5% foreign transaction fee
- Travel medical covers only the first 8 days (3 days at 65+)