Scotiabank American Express Card Review for 2024

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Written by Enoch Omololu

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Are you looking for the best travel credit cards in Canada with no annual fee? The Scotiabank American Express Card is definitely a top choice.

In this Scotiabank American Express Card review, we will delve into its benefits, American Express benefits, downsides, and alternatives.

Perhaps you’re a regular traveller or someone who simply wants to optimize your benefits; this review will further shed light if this card is a match for your needs.

Discover what American Express Canada has to offer and explore the best Canadian travel rewards credit cards available today.

Main Highlights

  • The Scotiabank American Express Card is a good option for people looking for a no-fee travel rewards credit card in Canada.
  • Cardholders can earn Scene+ points, exclusive invites, and points at participating pharmacies.
  • Downsides include a slightly lower acceptance rate and limited insurance benefits.
  • The card is a good choice for those who already have a Scotiabank account and want to manage their banking in one location.

Benefits of the Scotiabank American Express Card

Here are some of the noteworthy benefits this card has to offer:

  • No annual fee: The Scotiabank American Express Card does not charge an annual fee. This makes it an affordable option for people who wish to earn rewards on their purchases.
  • Scene+ points: You can earn 3 Scene+ points for every $1 you spend with the Scotiabank American Express Card at participating grocers. Plus, you’ll earn 2 Scene+ points for every $1 spent at movies, restaurants, and daily transit.
  • Exclusive Invites: American Express Invites® provides you with exclusive offers, access, and experiences. Enjoy exclusive access to fantastic music, theatre, dining, film, fashion, and retail events.
  • Pharmacy purchases (New!): Earn points at participating pharmacies by taking advantage of weekly product specials, flyers, and in-store events. Get member-only prices on excellent products every week.

Downsides of the Scotiabank American Express Card

  • Lower acceptance rate: The fact that this card is issued by American Express indicates that it has a slightly lower acceptance rate than Visa or Mastercard.
  • Limited Insurance Benefits: The card offers minimal insurance coverage. In the event that you need something that isn’t offered by another card in your possession, you may need to consider another card.

How to Apply for the Scotiabank American Express Card

To be eligible, you must be:

  • at least the age of majority,
  • a Canadian resident,
  • no bankruptcy records in the last seven years,
  • $12,000 annual income.

You can apply for the card online, by phone, or at a Scotiabank branch nearest you.

How to Redeem Scene+ Points

To redeem your Scene+ points, log in to your Scene account and select “Redeem Points.” You can then choose from a variety of redemption options, such as movie tickets, restaurants, hotels, and car rentals are few of the examples.

Scotiabank American Express Card Alternatives

In the event that you’re in search of alternatives to the Scotiabank American Express Card, some options to consider are the following:

Scotiabank Scene+ Visa

Great as a simple and secure payment method for everyday purchases. Also, perfect for those who prefer to not pay any annual fees.

Scotiabank Scene+ Visa Card

Rewards: Earn 2x Scene+ points on groceries and Cineplex purchases. Earn 1 Scene+ point on everything else.

Welcome offer: Earn up to 7,500 bonus Scene+ points within the first year.

Interest rates: 19.99% for purchases 22.99% for cash advances.

Annual fee: $0

Recommended credit score:
660
900

Good to Excellent

Scotiabank Scene+ Visa Card

On Scotiabank’s website

  • Earn 2 Scene+ points for every $1 spent at participating grocery stores, including Sobey’s, Safeway, Foodland, and FreshCo.
  • Earn 2 Scene+ points for every $1 spent at Cineplex theatres or at Cineplex.com.
  • Earn 1 Scene+ point for every $1 spent on everything else.
  • Redeem Scene+ points for movie tickets, groceries, dining, entertainment, statement credits, and more.
  • Save up to 25% on car rentals at participating Avis and Budget locations across Canada and the US.
  • No minimum income is required.

No earn caps on the 2x Scene+ points categories

Flexible redemption options

No minimum income required

No insurance coverage

You can only earn up to 2x points

The Scotiabank Scene+ Visa Card is a great entry-level card that earns you up to 2 Scene+ points for every dollar spent. Rewards options are flexible, as you can redeem points on almost anything.

Tangerine World Mastercard

The card allows you to earn 2% cash back on purchases in up to three categories of your choice. Perfect for those who want a higher earning potential but don’t want to pay annual fees.

Tangerine World Mastercard

Rewards: Earn 2% unlimited cash back in up to 3 spending categories of your choice, plus 0.50% on all other purchases.

Welcome offer: Get 15% cash back on up to $1,000 in the first 2 months ($150 value).

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

Recommended credit score:
600
900

Fair to Excellent

Tangerine World Mastercard

On Tangerine’s website

  • Earn 2% cash back on up to 3 spending categories of your choice with no limits.
  • Earn unlimited 0.5% cash back on all other purchases outside those categories.
  • Cash back is earned daily and paid out monthly.
  • Promotional balance transfer interest rate of 1.95% for 6 months.
  • Stay connected to over 1 million wifi hotspots with Boingo Wi-Fi for Mastercard.
  • Receive a complimentary membership to Mastercard Travel Pass provided by DragonPass.
  • Access on-demand and subscription services as a Tangerine Cardholder.
  • $1,000 mobile device insurance and rental car collision/loss damage insurance are included.
  • Purchase assurance and extended warranty benefits are included.
  • No annual fee.
  • Track and categorize your spending with the Tangerine mobile app.
  • To be eligible, you must make a minimum of $60,000 personal or $100,000 household annual income.

Earn 2% cash back in up to 3 categories

No annual fee

Includes Mastercard travel benefits and mobile device insurance

High income requirement needed to qualify

No physical bank branches

No travel insurance included

The Tangerine World Mastercard requires a higher annual income but comes with more travel benefits and insurance coverage than the Money-Back Credit Card. The Mastercard Travel Rewards, Boingo Wi-Fi for Mastercard, and Mastercard Travel Pass make it worth applying for.

Scotiabank Gold American Express Card

The card allows you to earn 6x Scene+ Rewards points at participating grocers, as well as 5x Scene+ Rewards points at other eligible grocery stores, restaurants, and entertainment venues.

Scotiabank Gold American Express Card

Rewards: Earn up to 6x Scene+ points for every $1 spent.

Welcome offer: Earn up to 45,000 bonus Scene+ points in the first year, plus the first year annual fee waived.

Interest rates: 20.99% for purchases, 22.99% for cash advances.

Annual fee: $120

Recommended credit score:
660
900

Good to Excellent

Scotiabank Gold American Express Card

On Scotiabank’s website

  • Earn 6 Scene+ points for every $1 spent at Sobeys, FreshCo, Safeway, Foodland, and other participating grocery stores.
  • Earn 5 Scene+ points for every $1 spent on dining, food delivery, other grocery stores, and at Cineplex theatres and Cineplex.com.
  • Earn 3 Scene+ points for every $1 spent on daily transit, gas, and select streaming services.
  • Earn 1 Scene+ point for every $1 spent on everything else.
  • Accelerated earn rates (6, 5, and 3 Scene+ points for every $1 spent) are capped at $50,000 annually.
  • Redeem Scene+ points at participating grocery stores, restaurants, entertainment purchases, movie tickets, statement credits, and more.
  • Pay no FX fees when travelling abroad.
  • Access Amex Invites, Offers, and Front of the Line perks.
  • Book and redeem travel through Scene+ Travel.
  • Get a discount on the Priority Pass Membership.
  • Access complimentary concierge services 24/7.
  • Travel insurance includes: travel emergency medical, trip cancellation/interruption, flight delay, delayed or lost baggage, travel accident, hotel/motel burglary, and rental car collision/loss damage insurance.
  • New mobile device insurance up to $1,000 is included.
  • Purchase security and extended warranty benefits are included.
  • Each supplementary card costs $29 yearly.
  • Minimum credit limit: $5,000.
  • The minimum personal income requirement is $12,000 per year.

No foreign transaction fees

High earn rate on groceries, dining, and Cineplex purchases

Comprehensive travel insurance included

Earn rates on most categories are capped at $50,000 per year

$120 annual fee + $29 for supplementary cardholders

$12,000 minimum personal income requirement

For a moderate $120 annual fee, the Scotiabank Gold American Express Card offers a high earning potential in categories like dining, groceries, and entertainment. It has a flexible redemption program and comprehensive travel insurance, plus no FX fees.

Scotiabank Momentum No-Fee Visa Card

The card allows you to earn 1% cash back on purchases from eligible gasoline stations, grocery stores, pharmacies, and recurring payments.

Is the Scotiabank American Express Card Worth It?

The answer is a resounding yes. The card’s many advantages, such as no annual fee, a large rewards program, and the option to earn Scene+ points, make it a good choice for anyone searching for a travel rewards credit card.

While the rewards rate for non-grocery and non-gas purchases is lower than on some other cards, the inclusion of Scene+ points helps to compensate.

Furthermore, the card is an excellent option for those who already have a Scotiabank account and prefer to have all of their banking in one location.

The Scotiabank app and online banking platform’s simplicity of use and convenience make managing your credit card and rewards simple and uncomplicated.

Comparison Table of Scotiabank Credit Cards

To help you make an informed decision, we have prepared a summary comparison table of the Scotiabank credit cards discussed in this article.

Credit CardAnnual FeeAPR PurchasesAPR Cash AdvancesRewards
Scotiabank American Express Card$019.99%22.99%1% cash back on eligible purchases
Scotiabank Scene+ Visa$019.99%22.99%Earn 2x Scene+ points for every $1 spent on eligible grocery, entertainment, and dining purchases
Tangerine World Mastercard$019.95%19.95%Earn 2% Money-Back Rewards on purchases in two categories of your choice.
Scotiabank Gold American Express Card$12020.99%22.99%Earn 6x Scene+ points for every $1 spent on eligible grocery, entertainment, and dining purchases.
Scotiabank Momentum No-Fee Visa Card$019.99%22.99%1% cash back on eligible purchases

FAQs

What is the minimum income for Scotiabank American Express card?

The minimum income requirement for the Scotiabank American Express Card is $12,000 annually.

How is Amex different from other credit cards?

American Express credit cards are different from other credit cards in a few ways:

-It is both a credit card issuer and a payment network. This means that American Express credit cards can be used at merchants that accept American Express but may not be accepted at all merchants that accept credit cards.

-It offers a variety of rewards and benefits, including exclusive access to events, travel perks, and other benefits depending on the specific credit card.

-It has a reputation for providing excellent customer service to its card members.

Which Canadian banks issue American Express cards?

In addition to Scotiabank, American Express in Canada, or Amex Canada, offers a variety of American Express credit cards with different rewards, fees, and benefits. So it is important to compare and choose the card that best suits your needs.

Related: How Does Overdraft Protection Work?

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Enoch Omololu

Enoch Omololu is a personal finance expert. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. Enoch is passionate about helping others win with their finances and has written about money matters for over a decade. He has been featured or quoted in The Globe and Mail, CBC News, Yahoo Finance, GO Banking Rates, Financial Post, Bankrate, Forbes, Toronto Star, CTV News, and other personal finance publications. He founded Savvy New Canadians, one of Canada’s top financial education platforms.

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