Scotiabank Gold American Express Card
Annual Fee
$120.00
Interest Rate
19.99%
Balance Transfer
22.99%
Cash Advance
22.99%
Credit Score
Good
Rewards
4.00%*
- Earn 5 Scotia Reward points on every $1 you spend at grocery stores, on dining and entertainment.
- Earn 3 points per dollar spent at eligible gas stations, transit purchases and select streaming services.
- Earn 1 point for every $1 you spend on everything else.
- Earn up to 30,000 bonus Scotia Rewards points with your first $1,000 in everyday purchases in the first 3 months
- Use your Card and book travel through Scotia Rewards Travel Service, our full-service travel agency.
- Redeem for travel anywhere, anytime, with no travel restrictions.
- Access to concierge services, airport lounges, special offers, merchandise, rewards and more.
- Travel with confidence on every trip with comprehensive travel insurance coverage.
- You will not pay 2.5% foreign transaction fees on any foreign currency purchases, including online shopping and when travelling abroad. Only the exchange rate applies.
Shop and travel with 8 types of insurance coverage
- Travel Emergency Medical Insurance: coverage is provided for eligible persons under age 65 for up to 25 consecutive days and for eligible persons age 65 and older for up to 10 consecutive days.
- Trip Cancellation/Trip Interruption Insurance: protect your travel investment with trip cancellation and trip interruption insurance at no extra cost when you charge at least 75% of your trip costs to your Card.
- Flight Delay Insurance: charge at least 75% of the full ticket cost to your Scotiabank Gold American Express Card and you’ll be eligible for reimbursement of necessary expenses such as hotel accommodations, meals and other emergency items.
- Delayed and Lost Baggage Insurance: charge the full cost of your airplane, train, bus or cruise ship tickets to your Card. If your checked luggage is delayed or lost – you’re covered.
- Travel Accident Insurance: charge at least 75% of your ticket cost to your Card and you’re insured against accidental loss of life or dismemberment.
- Rental Car Collision Loss/Damage Insurance: charge the full cost of your eligible rental car to your Card and you’re automatically insured if your rental is damaged or stolen.
- Hotel/Motel Burglary Insurance: use your Card to pay for your stay at any hotel or motel in Canada or the U.S.
- Purchase Security & Extended Warranty Protection: most items purchased with your Card are insured against theft, loss or damage for 90 days from the purchase date and the manufacturer’s warranty is doubled for up to one year.
To apply for a Scotiabank credit card you must:
- Be a Permanent Resident or a Foreign Worker with at least 6 months left on your permit
- Have reached the age of majority in your province/territory (18 years in AB, MB, ON, PE, QC, SK. 19 years in all others)
- Not have declared bankruptcy in the past seven years
- Have a Canadian address
Summary
Our Review
Scotiabank Gold American Express Card
The Scotiabank Gold American Express card earns Scotia Rewards points on all purchases where American Express is accepted, with 5 times the points earned for every dollar spent at eligible grocery stores, on dining and entertainment, and 3 times the points for every dollar spent on eligible gas, daily transit, and select streaming services. Scotia Rewards points can be redeemed towards travel anywhere, anytime, with no travel restrictions. Because you get 5 points for every dollar spent on plenty of day-to-day-purchases, this card allows its holders to earn rewards at a fast rate, which can be hugely beneficial when redeemed towards the cost of a flight, which you can book through the Scotia Rewards Travel Service. Other perks of this card include access to concierge services, and discounted access to airport lounges. Additionally, you will not pay the typical 2.5% foreign transaction fees on any foreign currency purchases, including online shopping and when travelling abroad. Only the exchange rate applies.
All in all, for a $120 annual fee the Scotiabank Gold American Express card could be a great option for those who want to earn travel rewards from their every day purchases, with a great earning rate for points and extensive travel and shopping insurance coverage.
As per our rating system, this card scored 21/25 on rewards, 16/25 on interest rates and balance transfers, 19/25 on perks and insurance, and 22/25 on annual fees. Therefore, the total smart score of this card is 78/100.
Pros
- Cardholders earn points at the attractive rate of 5 Scotia Reward points on every $1 spent at eligible grocery stores, on dining and entertainment, 3 points per dollar spent on gas, travel and transit, and 1 point for every $1 spent on everything else.
- New Scotiabank customers can earn up to 30,000 bonus Scotia Rewards points with their first $1,000 in everyday purchases in the first 3 months
- Cardholders may book travel through Scotia Rewards Travel Service, giving them access to the Best Price Guarantee.
- Cardholders may redeem their points to cover the cost of travel anywhere, anytime, with no travel restrictions and no black-out periods.
- Cardholders have access to concierge services, and discounted access to airport lounges, special offers, merchandise, rewards and more
- The card comes with comprehensive travel insurance coverage
- You will not pay 2.5% foreign transaction fees on any foreign currency purchases, including online shopping and when travelling abroad. Only the exchange rate applies.
Cons
- An annual fee of $120, plus an additional $29 annually for each supplementary card.
- Points can only be redeemed in increments of 5,000.
- Only new Scotiabank customers are eligible for the 15,000 point welcome bonus.
- American Express is not accepted everywhere.