Scotiabank Gold American Express Card
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The Scotiabank Gold American Express Credit Card is widely regarded as one of the best rewards credit cards on the market. It offers an impressive welcome bonus, one of the most generous rewards points programs available, and superior insurance coverage compared to similar credit cards. The annual fee for this card is $120, and its purchase rate is 20.99%. With responsible use, this card can provide up to 6% value back on spending.
Card Summary
The credit card comes with a $120 annual fee and charges $29 for each supplementary card. The purchase rate is 20.99%, and cash advances are charged at 22.99%. The card offers rewards and a bonus offer valued at approximately $460. It requires a minimum credit limit of $5000 and provides extensive insurance coverage, making it one of the best options available.
Rewards Summary
Remember the following reward structure for Scene points:
– Earn 6 Scene points for every $1 spent at Sobeys, Safeway, FreshCo, Foodland, and many more eligible grocery stores.
– Earn 5 Scene points for every $1 spent on restaurants and eligible entertainment purchases including movies, theatre, and ticket agencies.
– Earn 3 Scene points for every $1 spent on restaurants, eligible gas, transit options, and streaming services.
– Earn 1 Scene point for every $1 spent everywhere else.
Approximately 100 Scene points equals $1.
Benefits Summary
Flexibility to redeem Scene Points, no travel blackouts, and AMEX Offers. Enjoy special access, offers, and experiences with AMEX Invites.
Insurance Summary
- Travel Emergency Medical Insurance
- Trip Cancellation / Trip Interruption Insurance
- Flight Delay Insurance
- Lost & Delayed Baggage
- Travel Accident
- Rental Car
- Hotel Burglary Insurance
- New Mobile Device Insurance
- Purchase Security
- Extended Warranty Protection
The Scotiabank Gold American Express Credit Card offers one of the most rewarding programs available. It’s a must-have if you frequently shop at any of the eligible grocery stores listed. With this card, you could earn almost 6% back on the amount spent. Additionally, you could also earn almost 5% value back on eligible purchases made at restaurants, food delivery, other eligible grocery stores, and food subscriptions. Despite the annual fee, it can be easily covered with rewards if you spend around $800 a month on those two categories.
Editor’s Review: Scotiabank Gold American Express Card
Scotiabank Gold American Express® Card Review
Introduction
The Scotiabank Gold American Express® Card is a premium rewards card designed for frequent spenders, offering high rewards on groceries, dining, entertainment, and more. It boasts a strong bonus point structure with up to 45,000 Scene+ points as a welcome offer, alongside competitive travel perks like no foreign transaction fees. A key highlight is its robust earning potential on everyday categories, making it attractive for those who prioritize travel and entertainment, with exclusive benefits like concierge services and airport lounge access.
Rates
The card comes with standard interest rates but rewards outweigh them for regular users.
- Annual Purchase Interest Rate: 20.99%
- Cash Advance Rate: 22.99%
- Balance Transfer Rate: Same as cash advance
- Minimum Credit Limit: $5,000
Rewards
This card offers a flexible Scene+ rewards program:
- 6x points on groceries at participating stores (Sobeys, Safeway, etc.)
- 5x points on dining, food delivery, and entertainment
- 3x points on gas, transit, and streaming services
- 1x point on all other purchases
- Up to 45,000 bonus Scene+ points: 25,000 points after spending $1,000 in the first 3 months, and 20,000 points for spending $7,500 in the first year.
Fees
This card has moderate fees but delivers good value through perks.
- Annual Fee: $120
- Supplementary Card Fee: $29/year
- No Foreign Transaction Fees
- Cash Advance Fee: $3.50 in Canada, $7.50 internationally
Benefits
The Scotiabank Gold Amex card comes packed with lifestyle and travel perks:
- No foreign transaction fees, saving you 2.5% on international purchases
- Priority Pass™ membership with discounts on lounge access
- Amex Offers and Front Of The Line® benefits for concert tickets and dining experiences
- Concierge services for personal assistance
Insurance Coverage
Comprehensive travel and purchase protection is offered:
- Travel Emergency Medical Insurance (up to $1 million)
- Trip Interruption/Trip Cancellation Insurance
- Rental Car Collision Insurance
- Extended Warranty and Purchase Protection
General Card Overview
The Scotiabank Gold American Express® Card offers significant rewards for everyday spending on groceries, dining, and entertainment, with valuable perks like no foreign transaction fees and travel-related benefits. This makes it a strong contender for frequent travelers and high spenders in lifestyle categories.
Pros & Cons
Pros:
- No foreign transaction fees
- High rewards on groceries, dining, entertainment
- Travel perks like Priority Pass™ and concierge service
- Comprehensive insurance coverage
Cons:
- High annual fee ($120)
- Limited to Scene+ rewards; no cashback option
- Not widely accepted compared to Visa/Mastercard
Best For
This card is ideal for frequent travelers, foodies, and entertainment enthusiasts who want to earn Scene+ points on everyday purchases and save on foreign exchange fees.
Optimal Spending Behavior
- Focus on grocery stores (especially Sobeys and Safeway) to maximize the 6x points.
- Spend on dining and entertainment to leverage 5x points.
- Travel abroad to take advantage of the no foreign transaction fees.
Card Comparison
| Feature | Scotiabank Gold Amex® | Scotiabank Passport Visa® Infinite | American Express Cobalt™ |
|---|---|---|---|
| Annual Fee | $120 | $139 | $156 |
| Foreign Transaction Fee | None | None | 2.5% |
| Grocery/Dining Rewards | 6x/5x | 2x | 5x |
| Welcome Bonus | Up to 45,000 Scene+ pts | Up to 30,000 Scene+ pts | 30,000 MR points |
| Travel Insurance | Extensive | Extensive | Limited |
Final Verdict
The Scotiabank Gold American Express® Card excels in rewards for daily spending, especially for groceries, dining, and entertainment, and shines as a travel companion with no foreign transaction fees. It’s highly rewarding for Scene+ users and frequent travelers.
- Rewards: 9/10
- Fees: 7/10
- Rates: 7/10
- Benefits: 8/10
Overall Score: 8/10.
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Disclaimer: Refer to the official credit card web page for the latest rates, terms, and conditions. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute professional and/or financial advice.
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