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Scotiabank GM Visa Infinite Card Review

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Get high-end discounts on new vehicle purchases with the Scotiabank GM Visa Infinite Card.

Ranked as the Best Retail Rewards Card of 2016 by MoneySense, you can redeem every $1 you earn in GM Earnings for $1 off the purchase price or lease down payment of a new Chevrolet, Buick, GMC or Cadillac.

19.99%

Purchase Interest Rate

$0 annual fee for the first year ($79 thereafter)

Annual Fee

Details

Product NameScotiabank GM Visa Infinite Card
RewardEarn 5% in GM Earnings on the first $10,000 annual spend, and earn 2% in GM Earnings thereafter.
Welcome OfferGet the annual fee waived in the first year on the primary card as well as any supplementary cards. Apply by October 31, 2020.
Required DepositN/A
Purchase Interest Rate19.99%
Cash Advance Rate22.99%
Balance Transfer Rate22.99%
Interest Free Period Up to 21 days
Minimum Credit Limit$5,000
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More Info

30-second take

  • Get this card if you are in the market for a new car and want to use your GM points to reduce the cost.
  • Choose something else if you don’t want to pay an annual fee or are looking for a more flexible rewards/cashback program.
  • You must have a minimum annual income of $60,000 to qualify for this card (or a household income of $100,000).

The basics

If you’re looking for a new set of wheels but aren’t as keen to pay the steep price tag, then you might like to think about offsetting the cost of your vehicle purchase with the Scotiabank GM Visa Infinite Card.

Get 5% in GM Earnings on the first $10,000 of your annual purchases, then get 2% with no earning or redemption limits. And the best thing is: there are no earning caps, redemption limits or expiration dates so long as you remain a cardholder.

The perks

  • Welcome offer. Get the annual fee waived in the first year on the primary card as well as any supplementary cards. Apply by October 31, 2020.
  • GM Earnings. Get 5% in GM Earnings on the first $10,000 of your annual purchases, then get 2% with no earning or redemption limits. $1 in GM Earnings = $1 off the purchase price or lease down payment of a new Chevrolet, Buick, GMC or Cadillac.
  • Shopping coverage. Get extended warranty and insurance coverage on products purchased with your Scotiabank GM Visa Infinite Card.
  • Travel insurance. Travel with peace of mind when you pay for flights with your card. Enjoy travel emergency medical insurance, trip interruption insurance, rental car insurance, and more.
  • Save on car rentals. Get up to a 25% discount at participating Budget and AVIS car rental locations in Canada and the US, and complimentary Car Rental Theft and Damage Insurance (MSRP of up to $85,000).
  • World class service. Contact customer service 24/7 to report issues with your account and troubleshoot problems by speaking directly to an agent.

What to watch out for

  • High minimum balance. The minimum credit limit available is $5,000.
  • High minimum annual income. You must have a minimum annual income of $60,000 or a minimum household income of $100,000 to qualify for this card.
  • Expensive annual fee. Pay $79 per year to maintain your Scotiabank GM Visa Infinite Card (although you may qualify to have the first annual fee waived).
  • Additional charge for extra cards. Pay $39 for each additional card on your account.
  • Limited car brands. This deal only applies to Chevrolet, BUICK, GMC or Cadillac cars.

What do other customers say?

Customers who are in the market for a new vehicle are pleased with the perks and benefits on offer from the Scotiabank GM Visa Infinite Card. This card was ranked Best Retail Rewards Card of 2016 by MoneySense, with a 1:1 ratio return on investment. This means that for every $1 earned through the card, customers get $1 off their vehicle purchase. One downfall of the Scotiabank GM Visa Infinite Card is that customers need to have a high minimum annual income to qualify for this card. It can also be limiting for those who want to purchase a make of vehicle that isn’t supported by the card.

What should I know before I apply

How to apply

  1. Click Go to site on this page to be securely directed to your Scotiabank GM Visa Infinite Card application.
  2. Read through the Disclosure Statement details and click Accept & Continue.
  3. Complete the application with details that include your name, email address, social insurance number and birth date.
  4. Review and submit your application.

Bottom line

The Scotiabank GM Visa Infinite Card offers big discounts on your next vehicle purchase, but comes with a $79 annual fee. Dollar-for-dollar rebates add up quickly and Visa Infinite customers also get comprehensive travel insurance coverage along with a host of other benefits.

Frequently asked questions

Pictures: scotiabank.com/ca

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