Scotiabank Gold American Express Card Review 2023

Published on

Written by Enoch Omololu

Snappy Rates is reader-supported. This means if you click on some of our links, we may earn a commission. This does not affect the objectivity of our evaluations. Read our disclosure.

The Scotiabank Gold American Express card is one of the best Scotiabank credit cards, especially when it comes to travel rewards.

It’s an award-winning card that offers generous Scene+ points on your everyday purchases, which you can redeem for a wide range of rewards such as groceries, gift cards, and other services.

This Scotiabank Gold American Express card review covers the card’s benefits and downsides, as well as instructions on how to apply for it.

Main Highlights

  • The main benefits of the Scotiabank Gold American Express card are earning Scene+ points, having no foreign transaction fees, and getting insurance coverage for the purchases you make using the credit card.
  • Some downsides of the Scotiabank Gold American Express card are its slightly expensive annual fee of $120 and its relatively high APR of 20.99% for purchases and 22.99% for cash advances.

Scotiabank Gold American Express Card – Summary

Scotiabank Gold American Express Card

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

Welcome offer: Earn up to 40,000 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.

Benefits Of The Scotiabank Gold American Express Card

Below are several benefits Scotiabank American Express cardholders can enjoy.

Earn Scene+ Points

For every dollar you spend on your day-to-day transactions, you can earn up to 6 Scene+ points, depending on which category you spend your money on.

The table below shows the different ways to earn these reward points and how much you can earn through each spending category.

Spending CategoryExamplesScene+ Points (For Every Dollar)
Groceries (Selected Retailers)Sobeys/ Safeway/ FreshCo6
Eat in and Eat outDining, Food Subscriptions, and Delivery5
Watch and CheerMovies, Theatres, and Ticketing Agencies5
Ride and DriveGas and Transit Expenses3
Listen and StreamStreaming Services3
Other Eligible Everyday Purchases1

Note: You can redeem your Scene+ points for groceries, travel expenses, gift cards, credit and dining/entertainment services. You’ll get $1 towards your purchase for every 100 points you redeem.

No Foreign Transaction Fees

Most Canadian credit cards charge a 2.5%foreign transaction fee when you make online transactions using foreign currencies or use your credit card abroad.

Fortunately, you won’t be charged this fee when using the Scotiabank Gold American Express card, as it’s one of the few credit cards with no foreign transaction fee.

Booking Assistance

Whether you need help booking flight tickets, restaurant reservations, or tickets for a concert or a show, you can enjoy Scotiabank’s concierge services to make the process easier and faster.

Exclusive Offers And Invites

With this credit card, you can enjoy invites to exclusive events, such as advance screenings of blockbuster movies and get special offers on pre-sale tickets to many of the most in-demand shows and concerts.

Moreover, you’ll have the Scotiabank Gold American Express card lounge access, which allows you to stay in over 1200 VIP airport lounges worldwide for a discounted price.

Insurance Coverage

This credit card gives you partial and full insurance coverage for some of the most common losses, accidents, cancellations, and delays. Those include:

  • Flight Delay Insurance
  • New Mobile Device Insurance
  • Travel Emergency Medical Insurance
  • Trip Cancellation/Trip Interruption Insurance
  • Rental Car Collision Loss/Damage Insurance

Other Benefits

Other benefits of this Scotiabank credit card include faster checkout through Apple Pay and receiving supplementary cards for your friends or family members.

Downsides Of The Scotiabank Gold American Express Card

Despite being an overall excellent credit card, the Scotiabank Gold American Express card still has several downsides you must be aware of before applying for one.

$120 Annual Price Tag: Considering that you can get many credit cards for free, the Scotiabank Gold American Express card’s $120 annual fee can be considered one of its major downsides.

High APR: The interest rates for this Scotiabank credit card are relatively high at 20.99% for purchases and 22.99% for cash advances. If you’re looking to save money in the long run, it may be worth considering low-interest credit cards instead.

Not Accepted In Certain Locations: American Express cards aren’t as universally accepted as Visa or Mastercards, which could potentially be problematic for frequent travellers, especially when travelling abroad.

How To Apply For The Scotiabank Gold American Express Card

Any Canadian resident that’s at least the age of provincial majority can apply for the Scotiabank Gold American Express Card. You may do so online, in person, or by calling the bank’s customer support.

Here are the Scotiabank Gold American Express card requirements:

snappy rates site icon

Subscribe to our Newsletter!

Subscribe to get the latest personal finance news, offers, and our weekly newsletter. You can unsubscribe at any time.

  • No bankruptcy in the past 7 years.
  • Have a minimum income of $12,000 annually.

Note: You must give Scotiabank access to your credit bureau report when applying for the Gold American Express card.

How To Redeem Scene+ Points

Redeeming your Scene+ points is easy. All you have to do is install and open the Scene+ application on your iOS/Android device.

Once you’ve linked it to your Scotiabank credit card, just follow these steps:

  1. Go to the Scene+ application’s home screen.
  2. Click your Scene+ account.
  3. Tap Redeem now.
  4. Choose how you want to redeem your points.

Scotiabank Gold American Express Card Alternatives

Below are some credit card alternatives to the Scotiabank Gold American Express card.

Scotiabank Passport Visa Infinite Card

Scotiabank Passport Visa Infinite Card

Rewards: Earn up to 3x Scene+ points on groceries, dining, and entertainment.

Welcome offer: Earn up to 40,000 bonus Scene+ points in the first year (up to $400 towards travel).

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

Annual fee: $150

Recommended credit score:
760
900

Very Good to Excellent

scotiabank passport visa infinite cardart

On Scotiabank’s website

  • Earn 3 Scene+ points for every $1 spent on groceries at participating retailers like Safeway, Sobeys, Foodland, and FreshCo (up to $50,000 annually).
  • Earn 2 Scene+ points for every $1 spent on dining, other eligible grocery stores, and daily transit (up to $50,000 annually).
  • Earn 1 Scene+ point for every $1 spent on all other purchases.
  • Redeem Scene+ points for virtually anything, including travel, merchandise, dining, groceries, statement credits, and more.
  • No foreign transaction fees are charged on purchases outside of Canada.
  • 6 complimentary airport lounge passes per year.
  • Book and redeem travel through Scene+ Travel.
  • Get a complimentary Avis Preferred Plus membership, which includes complimentary upgrades and discounts of up to 25% off.
  • Visa Infinite benefits, like a 24/7 concierge service and guaranteed best hotel rates, are included.
  • 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.
  • Purchase security and extended warranty protection are included.
  • A minimum income requirement of $60,000 personal or $100,000 household is required to be eligible.

No foreign transaction fees

6 free airport lounge visits per year

Flexible redemption options for Scene+ points

$50,000 spend cap on the 3x and 2x categories

High income requirement of $60,000 or $100,000

High annual fee

The Scotiabank Passport Visa Infinite Card is your travel companion wrapped up into a credit card. For a $150 annual fee, you don’t pay FX fees, get 6 complimentary airport lounge visits per year, an Avis Preferred Plus membership, various travel insurance benefits, and more on top of earning and redeeming Scene+ points.

American Express Cobalt Card

American Express Cobalt Card

Rewards: Earn up to 5x Membership Rewards points on purchases.

Interest rates: 20.99% for purchases, 21.99% for cash advances.

Annual fee: $155.88 ($12.99 paid monthly)

Recommended credit score:
660
900

Good to Excellent

American Express Cobalt Card

On American Express’ website

  • Earn 5x the points on eligible restaurants and food delivery in Canada (up to $30,000 annually).
  • Earn 3x the points on streaming subscriptions in Canada.
  • Earn 2x the points on travel and transit purchases.
  • Earn 1x points on all other purchases.
  • Earn 1 additional point on eligible car rental and hotel bookings through Amex Travel Online.
  • Membership Rewards points can be redeemed for travel, merchandise, Amazon.ca purchases, gift cards, or statement credits.
  • You can optionally transfer your points 1:1 to several frequent flyer and loyalty programs.
  • New mobile device insurance is included.
  • Receive regular perks with the Cobalt Perks program.
  • Get one $100 USD hotel credit to use plus a one-category room upgrade when staying at eligible hotels.
  • Out-of-province/country emergency medical, flight delay, baggage delay, hotel burglary, lost or stolen baggage, car rental theft and damage, and $250,000 travel accident insurance are included.
  • Shop confidently with buyer’s assurance and purchase protection plans.
  • Stay connected with American Express Front of the Line presales and reserved tickets, as well as American Express Experiences.
  • No minimum income requirement.

High rewards rate on food and streaming subscriptions

Redeem your points for almost anything or transfer 1:1

Various travel insurance and shopping coverage included

$12.99 monthly fee

$30,000 annual spend cap on the 5x earn category

American Express isn’t accepted at some retailers

The American Express Cobalt Card offers high earn rates on restaurants, food delivery, and select streaming subscriptions in Canada. Points can be redeemed for almost anything, and it includes comprehensive travel and shopping coverage as well as a $100 USD annual hotel credit.

American Express Gold Rewards Card

American Express Gold Rewards Card

Rewards: Earn up to 2x Membership Rewards points on everyday purchases.

Welcome offer: Earn 40,000 Membership Rewards points after spending $3,000 in the first 3 months, plus 10,000 additional points when you make a purchase between 14 and 17 months of card membership.

Interest rates: 20.99% for purchases, 21.99% for cash advances.

Annual fee: $250

Recommended credit score:
660
900

Good to Excellent

American Express Gold Rewards Card

On American Express’s website

  • Earn 2x Membership Rewards points on travel purchases.
  • Earn 2x the points on gas, grocery, and drugstore purchases.
  • Earn 1x the points on everything else.
  • Get 1 additional point for every $1 spent on car rental or hotel bookings through Amex Travel Online.
  • Redeem points towards travel, statement credits, and more.
  • Transfer your points 1:1 to several frequent flyer and loyalty programs.
  • Receive a $100 annual travel credit to redeem on Amex Travel Online.
  • Get 4 yearly complimentary airport lounge passes to Plaza Premium lounges in Canada.
  • Get a complimentary Priority Pass membership.
  • Stay 2 or more nights at participating hotels and get a hotel credit worth up to $100 USD to use on amenities.
  • Enjoy free access to the Hertz Gold Plus Rewards loyalty program.
  • Receive a $50 CAD NEXUS statement credit every 4 years.
  • Comprehensive travel coverage includes travel accident, hotel burglary, baggage delay, flight delay, and trip interruption insurance.
  • Access American Express Experiences like Front of the Line presales and reserved tickets.
  • Buyer’s assurance and purchase protection plans are included.
  • No minimum income is required to apply.

No limits to the points you can earn

Comprehensive travel insurance and benefits

$100 annual travel credit and 4 airport lounge passes included

High annual fee

American Express isn’t accepted at some merchants

The American Express Gold Rewards Card is a premium travel credit card that is worth the annual fee. It includes wide travel coverage and benefits, including an annual $100 travel voucher, 4 free airport lounge visits, a Priority Pass membership, and a $100 USD hotel credit.

Marriott Bonvoy American Express Card

Marriott Bonvoy American Express Card

Rewards: Earn 5 points per $1 spent at Marriott Bonvoy hotels and 2 points per $1 spent on all other purchases.

Interest rates: 19.99% for purchases, 21.99% for cash advances.

Annual fee: $120

Recommended credit score:
600
900

Fair to Excellent

Marriott Bonvoy American Express Card

On American Express’s website

  • Earn 5x Marriott Bonvoy points on all eligible purchases at Marriott Bonvoy hotels.
  • Earn 2x Marriott Bonvoy points on all other purchases.
  • Existing Marriott Bonvoy members earn points twice when using this card.
  • Redeem points for free hotel stays at over 30 hotel brands with no blackout dates.
  • Transfer points to frequent flyer miles at various airlines.
  • Receive one free hotel stay per year.
  • Enjoy complimentary Marriott Bonvoy Silver Elite status.
  • After spending $30,000 or paying for 10 hotel stays per year in combination with 15 Elite Credits, automatically upgrade to Gold Elite status.
  • Receive 15 Elite Night Credits each year to attain the next level of Marriott Bonvoy status.
  • Refer your friends and get up to 150,000 bonus points each year.
  • Travel coverage includes flight delay, baggage delay, hotel burglary, lost or stolen baggage, and $500,000 travel accident insurance.
  • Car rental damage and theft insurance are also included.
  • Shop confidently with buyer’s assurance and purchase protection plans.
  • Access American Express Experiences and Events.
  • No minimum income is required to apply.

Earn 5x the points on Marriott Bonvoy hotels with no limits

Complimentary Silver Elite status that can be upgraded

Comprehensive travel insurance

Points can only be redeemed at Marriott Bonvoy hotels

Only 1 free hotel night per year

You must spend $30,000 to upgrade to Gold Elite status

For a $120 annual fee, the Marriott Bonvoy American Express Card comes with many travel perks and insurance benefits. This is the perfect card for those loyal to the Marriott Bonvoy program, as you earn an unlimited 5 points for every $1 spent at participating hotels.

Scotiabank Gold American Express Card: Conclusion

The Scotiabank Gold American Express card is a popular Canadian travel card with generous rewards, no foreign transaction fees, comprehensive insurance coverage, and various perks.

Its straightforward sign-up process and minimal requirements make it an excellent choice for anyone looking for a credit card without too much hassle.

Scotiabank Gold American Express Card vs Alternative Cards

Credit CardsAnnual FeeAPR PurchasesAPR Cash AdvancesRewards
Scotiabank Gold American Express Card$12020.99% 22.99%Up to 6X Scene+ points per $1 spent
American Express Cobalt Card$155.8820.99%21.99%Up to 5X American Express points per $1 spent
American Express Gold Rewards Card$25020.99%21.99%Up to 2X American Express points per $1 spent
Marriott Bonvoy American Express Card$12019.99%21.99%Up to 5X Marriott Bonvoy Points for every $1 spent
Scotiabank Passport Visa Infinite Card$15020.99%22.99%Up to 3X Scene+ points per $1 spent

Related:

Bonuses & Freebies for June

Free prepaid card with up to 5% cashback. No credit check & $20 bonus with CASHBACK code.

Earn up to 5% unlimited cashback. No annual fees and $25 bonus.

Get a $100 cashback bonus in the first 2 months. No annual fee credit card.

No current offers for this category.

Subscribe to our Newsletter!

Subscribe to get the latest personal finance news, offers, and our weekly newsletter. You can unsubscribe at any time.

Gravatar for Enoch Omololu

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, Toronto Star, CTV News, Canadian Securities Exchange, and other personal finance publications. He founded Savvy New Canadians, one of Canada’s top financial education platforms.

Leave a comment